Finance

Energy prices moved higher following reports of new ship attacks and orders for the U.S. Navy to target vessels laying mines in critical waterways. Brent crude futures surpassed $105 per barrel, sparking renewed concerns about an energy-driven surge in global inflation.

First-quarter results from companies like GE Vernova and AT&T exceeded analyst expectations, though high-profile firms like Tesla saw shares decline due to increased forecasts for capital expenditures. Investors remain focused on whether massive investments in robotics and artificial intelligence will yield sufficient revenue growth to justify current valuations.

The 10-year Treasury yield hovered near 4.3% after a slight rise in weekly jobless claims pared earlier increases. While the labor market remains relatively strong, rising long-term unemployment and moderated wage growth suggest a gradual softening that market participants are monitoring closely.

Cryptocurrency markets saw Bitcoin trading around $78,000, maintaining a moderately positive stance despite broader market volatility. While institutional demand through ETFs continues to anchor the sector, traders are closely watching resistance at the $80,000 mark as macroeconomic headwinds from high oil prices persist.

Pot firms experienced a significant surge in stock prices following a government decision to reclassify marijuana as a less dangerous substance. This policy shift is expected to ease regulatory hurdles and significantly benefit the multibillion-dollar industry by improving access for investors.