Stocks Grind Higher as Geopolitics Weighs
Wall Street rebounded Friday — Dow +0.93%, S&P 500 +0.51%, Nasdaq +0.48% — led by AI momentum from Microsoft’s Copilot refresh and Akamai’s $11.6 billion Anthropic deal, as crude oil pulled back on Iran’s seven-day Hormuz reopening proposal. But Trump rejected the deal on Saturday, putting the oil war premium back on the watchlist heading into Monday’s Asia open. The US 10-year yield closed at 5.18% (high 5.23%) with the 30-year topping 5.50% for the first time since 2004. In Australia, the ASX 200 sits at 8,665 — its lowest since June — with SPI futures pointing to a flat Monday open at 8,720, and the RBA board begins deliberations today ahead of Tuesday’s near-certain 25 bp hike to 4.60%.
