International markets update:
Global markets exhibited a mixed performance as investors navigated escalating Treasury yields and declining oil prices, while geopolitical developments, including US-China discussions and potential shifts in Mideast tensions, commanded attention.
- US-China leaders discussed artificial intelligence, with President Xi Jinping emphasizing opportunities for cooperation over competition despite existing restrictions on advanced chips.
- US Treasury yields surged to multi-decade highs, with the 10-year note climbing to 5.225% and the 30-year yield reaching 5.502% late Thursday, reflecting persistent inflation concerns.
- Oil prices retreated following reports that US and Iranian negotiators were discussing a phased deal to de-escalate tensions in the Persian Gulf, easing supply concerns.
- Asian equities showed divergence, with Japan’s Nikkei 225 advancing over 1%, while markets in Australia and Hong Kong experienced declines, and mainland China and South Korea were closed for holidays.
- Oracle Corp Japan shares surged more than 7% after reporting record fiscal first-quarter sales and profits, sharply contrasting with a more than 3% drop in US-listed Oracle shares.
Stock Market News summarised for the Wall Street Investors Club community.