U.S. stocks edged higher on Friday as investors navigated another volatile trading session, with rising Treasury yields keeping pressure on financial markets. The S&P 500 gained 0.3%, while the Nasdaq Composite advanced 0.4%. The Dow Jones Industrial Average also rose about 190 points, or 0.3%, but remained on track for its fourth consecutive weekly decline.

Technology stocks provided some support for the market, with Akamai Technologies surging more than 14% after announcing a multiyear agreement with artificial intelligence company Anthropic. The move helped lift the technology sector as investors continued to watch developments in artificial intelligence and its impact on major companies.

Oil prices also eased, offering some relief to markets concerned about persistent inflation and energy costs. West Texas Intermediate crude fell about 2% to around $92 per barrel, while Brent crude dropped roughly 1% to about $104. The decline followed reports of possible diplomatic progress involving Iran and the potential reopening of the Strait of Hormuz, a key route for global oil shipments.

However, rising bond yields remained a major concern for investors. The 10-year U.S. Treasury yield climbed to its highest level since 2007, while the 30-year yield reached its highest level since 2004. Investors have been reacting to hawkish comments from Federal Reserve officials, elevated energy prices and stronger-than-expected economic data, with market pricing pointing to increased expectations of another interest-rate hike in October.

Attention is also turning to U.S.-China trade relations as Chinese President Xi Jinping visits the United States. U.S. officials indicated that more details on ongoing trade negotiations could emerge soon, while the two countries have reportedly agreed to extend their existing trade truce. For investors across global markets, including Nigeria, developments in U.S. interest rates, oil prices, trade relations and Treasury yields remain important indicators to watch as they can influence capital flows, currencies and broader market sentiment.

source: cnbc