Finance

Oil prices remains elevated with Brent crude trading above $100 a barrel as markets navigate supply disruptions caused by the ongoing war in Iran and the closure of the Strait of Hormuz. Despite these pressures, spot gold has climbed above $4,700 per ounce, bolstered by a weaker U.S. dollar and easing Treasury yields as investors seek protection against lingering macroeconomic uncertainty.

Tech-heavy indexes continue to outperform, with the Nasdaq up nearly 13% for the year as voracious demand for AI infrastructure drives record profit margins. However, this optimism contrasts sharply with the University of Michigan's consumer sentiment index, which fell to a record low in May due to the psychological impact of rising gasoline prices and high tariffs.

The yield on the 10-year Treasury fell to 4.36% from a mid-week peak near 4.45% as markets reassess the Federal Reserve's next move following the latest employment data. Although long-term bond prices have struggled this year due to inflation concerns, the recent easing in yields has provided a supportive tailwind for growth-oriented equities.