Finance

Tech shares stabilized and led the market higher, shaking off a sharp sell-off from the prior session. Market sentiment was initially rattled by reports of an annual revenue shortfall for OpenAI, but fears quickly abated following updated reports projecting that the firm's annualized revenue remains on track to hit $70 billion.

Crude prices fluctuated but stayed highly elevated following reports of vessel attacks near the Strait of Hormuz. Although an announcement that domestic attacks would be paused before the upcoming midterm elections slightly cooled the market, international benchmark Brent crude finished the week well above $100 a barrel.

The 10-year U.S. Treasury yield sat near 5.24%, maintaining its position near multi-decade highs. Yields have been propped up alongside a strengthening U.S. dollar as investors price in higher-for-longer monetary policy and anticipate additional interest rate increases from the Federal Reserve before the end of the year.