Major stock indexes finished higher after opening lower, with all tracked indices reaching all-time highs. The Dow Jones closed slightly higher, the S&P 500 rose more strongly and was on track for a ninth straight week of gains, the Nasdaq gained on enterprise software and AI strength, and the Russell 2000 also advanced. Treasury yields fell across most maturities as buyers returned, with investors seeking safe-haven assets amid geopolitical caution. Oil prices eased after reports of an extended ceasefire between U.S. and Iranian negotiators, reducing fears of prolonged supply disruption. The 30-year bond ended at 4.98% and the 10-year note at 4.45%. Oil was mixed, with Brent down and WTI slightly up, while natural gas surged.
"Futures are trading higher after yet another winning day for Wall Street, as all major indices finished the day higher after starting the session lower. Once again, all four indices we track for readers posted all-time highs as the AI/Data Center, Memory Chip rally continues to roll on. Healthcare and consumer stocks in the Dow Jones Industrials helped the venerable index close at 50,668, up 0.05%, while the S&P 500 ended the session at 7,563, up 0.58%."
"The tech-heavy Nasdaq closed at 26,917, up 0.91% on the strength of enterprise software and AI stocks, and the small-cap Russell 2000 finished the day at 2,936, up 0.57%. The song remains the same as stocks surged to record highs, driven by a massive rally in technology and software shares, solid corporate earnings, and easing oil prices."
"Buyers returned to the Treasury market as yields fell again across the entire curve, except for the short-term T-bill maturities. Investors and traders continue to seek safe-haven assets amid rising geopolitical caution. At the same time, oil prices eased after reports that U.S. and Iranian negotiators had agreed to extend the ceasefire, easing fears of a prolonged supply disruption in the Middle East. The 30-year long bond finished the day at 4.98%, while the benchmark 10-year note was last seen at 4.45%."
"Oil prices closed flat on Thursday after an up-and-down day, as Bernstein predicted that long-term oil prices will remain in the $75 range. This comes as no surprise, as we have written that while the war premium will go away when the fighting stops, the reality is that the upheaval in the energy complex caused by the war has reshaped pricing and will likely do so for some time. Brent Crude finished the day at $93.79, down 0.53%, while West Texas Intermediate was last seen at $88.81, up 0.15%. Strong natural gas closed up 6.72% at $3.30."
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