Yields Rise

• U.S. stocks rose on Thursday, with the S&P 500 and Nasdaq both increasing by 0.3% and the Dow Jones Industrial Average gaining 258 points. • The market rally is driven by easing Treasury yields following new job market data, which suggests the Federal Reserve may face less pressure to implement further interest rate hikes. • This upward trend positions Wall Street to conclude its strongest weekly performance in nearly two months.

• Major U.S. stock indexes declined on Friday, driven by a second consecutive day of losses in technology and AI-tied shares. • The downturn threatened the S&P 500's streak of 10 consecutive weekly gains as investors reacted to market volatility. • Treasury yields surged following a May employment report that showed stronger-than-expected job growth, signaling that the labor market remains tight.

• Asian stocks rose on Friday, with gains in Japan, South Korea and Australia pushing the MSCI Asia Pacific Index higher after Wall Street gauges hit records. • The move was driven by the AI trade, strong corporate earnings and resilient U.S. consumer data, while Nvidia's six-day rally brought its market value closer to $6 trillion. • U.S. two-year Treasury yields traded at 4.03%, the highest since June, and Japan's 10-year government bond yield climbed after producer prices hit their highest level since 2023.

• A failed peace proposal over the weekend propelled oil prices and 10-year Treasury yields higher on Monday morning, with equity futures opening modestly lower. • Markets shrugged off geopolitical risks last week as oil declined on Iran ceasefire comments, but renewed tensions reversed that trend amid global energy volatility. • Gas prices rose nationwide, complicating inflation outlook with headline CPI above 3.5% despite easing core PCE, dimming Fed rate cut prospects.