U.S. equities are under pressure: the S&P 500 -0.48% at 7,620, the Nasdaq -0.56% at 26,186, the Dow -0.29% at 52,421. The VIX sits at 16.9 (+6.6% today), inside its normal range.
The 10-year Treasury yield is easing at 4.96% — the number behind mortgage rates and Washington's interest bill. The dollar index is at 99.5 (+0.4%). Elsewhere: gold down 1.9% at $4,328/oz; WTI crude up 1.6% at $101.70/bbl; Bitcoin at $78,977 (+2.8%).
Among big names, COIN leads gainers at +9.24%, while SMCI lags at -8.38%. Rate moves and energy prices feed straight into the political fight over inflation — match this against the headlines above.