U.S. equities are trading higher: the S&P 500 +0.32% at 7,677, the Nasdaq +0.66% at 26,151, the Dow +0.30% at 53,577. The VIX sits at 15.4 (-2.5% today), inside its normal range.
The 10-year Treasury yield is easing at 4.64% — the number behind mortgage rates and Washington's interest bill. The dollar index is at 98.9 (-0.1%). Elsewhere: gold up 1.7% at $4,720/oz; WTI crude down 3.9% at $81.69/bbl; Bitcoin at $78,922 (-0.1%).
Among big names, SMCI leads gainers at +9.35%, while XOM lags at -2.09%. Rate moves and energy prices feed straight into the political fight over inflation — match this against the headlines above.