Finance

Global energy markets saw a welcome cooldown as Brent crude dropped back below the $100 per barrel mark. Prices eased following reports that international negotiators are discussing options to reopen the vital Strait of Hormuz transport waterway, though values remain significantly elevated compared to earlier this year.

Major stock indices experienced choppy trading sessions late in the week, with the S&P 500 and Nasdaq showing muted movements. While easing oil costs provided a brief lift, disappointing consumer sentiment figures and high fixed-income borrowing costs restricted any major upward momentum, putting the Dow on track for its fourth consecutive weekly decline.

Better-than-expected corporate profit statements have given equity markets critical baseline support amid broader inflation fears. Major firms like Costco reported strong quarterly results, while tech names like Akamai surged following a massive multi-year partnership with artificial intelligence developer Anthropic.