U.S. equities are mixed: the S&P 500 +0.26% at 7,749, the Nasdaq +0.54% at 26,588, the Dow -0.04% at 53,770. The VIX sits at 14.4 (-5.7% today), inside its normal range.
The 10-year Treasury yield is easing at 4.68% — the number behind mortgage rates and Washington's interest bill. The dollar index is at 100.0 (+0.2%). Elsewhere: gold up 2.0% at $4,471/oz; WTI crude down 0.3% at $82.97/bbl; Bitcoin at $63,368 (-0.3%).
Among big names, SMCI leads gainers at +19.02%, while UBER lags at -4.06%. Rate moves and energy prices feed straight into the political fight over inflation — match this against the headlines above.