The Australian dollar was quoted at US71.21 cents, while the U.S. S&P 500 eked out a 0.2% gain after drifting between modest gains and losses throughout the day, marking its second consecutive weekly loss.
In the United States, the Dow Jones Industrial Average slipped 0.2% and the Nasdaq Composite added 0.4%, leaving the majority of Wall Street stocks in the red as the bond market exerted upward pressure on yields.
The yield on the benchmark 10‑year Treasury note rose to 5.00% from 4.94% on Thursday, the first time the 5% threshold had been breached since 2023, a level that typically dampens equity valuations by raising borrowing costs across the economy.
Oil prices continued to climb, with Brent crude hovering near US$110 a barrel earlier in the week before easing to US$103.87, down 0.9% from the previous day. Higher crude prices have pushed U.S. gasoline to US$4.47 per gallon and diesel to a record US$6.45 per gallon, tightening household budgets and raising shipping costs for goods.
Corporate news on the day included steelmaker Nucor warning that its third‑quarter profit forecast fell short of analysts’ expectations, sending its shares down 6.3%, while Berkshire Hathaway edged up 0.1% after Warren Buffett announced he is relinquishing his role as chairman, having already stepped down as CEO.
Other notable moves on U.S. exchanges saw General Motors down 5.1% and Qualcomm down 5.8%, while Coinbase surged 11.7% and Robinhood climbed 9.1%, representing the biggest gains among S&P 500 constituents.
European markets mirrored the downside bias, with France’s CAC 40 and Britain’s FTSE 100 each slipping about 1.5% as investors digested the same macro pressures of higher yields and energy costs.