Market Highlights

Another rally in oil prices spurred losses in stocks and bonds, with the latest inflation data reinforcing bets the Federal Reserve will lift interest rates soon amid pressures from higher energy costs. Brent crude touched $107 as Middle East tensions heightened supply worries . US diesel futures rose above $5a gallon for the first time since 2022 . Two - year yields jumped 11 basis points while those on 30 - year bonds hit the highest since 2007 . Traders boosted wagers on a Fed hike next week to 70% and fully priced in a move by October . The S&P 500 fell for a fourth straight day .