Finance

U.S. Treasury yields pulled back ahead of the Memorial Day holiday weekend, providing relief to rate-sensitive sectors. The 10-year Treasury note yield steadied near 4.56% after recently hitting 4.69%, its highest level since January 2025, as investors weighed cooling oil prices and ongoing geopolitical developments in the Middle East.

The technology industry is undergoing a significant structural shift, with over 138,000 layoffs recorded so far in 2026 as companies prioritize artificial intelligence. Major firms like Meta and Intuit announced substantial workforce reductions in May to reorganize around AI-focused units, even as Microsoft secured a $9.7 billion deal to expand its data center capacity and Nvidia chip access.

U.S. crude oil production forecasts for 2026 were revised upward to 13.65 million barrels per day as energy companies benefit from elevated global prices. While Brent crude has traded above $100 per barrel due to regional conflicts, domestic producers like Diamondback Energy are increasing activity levels to capitalize on the sustained price environment.