Oil Nears $100, Treasury Buybacks Loom, and AI Compute Trade Keeps Running
PANews’ latest Wall Street morning roundup tracks a market pulled in several directions at once: rising oil, persistent pressure in long-dated U.S. bonds, and a fresh wave of enthusiasm around AI compute infrastructure. U.S. stocks fell for a second straight session, with the Dow down 1.18%, the S&P 500 off 0.58%, and the Nasdaq lower by 0.32%, as geopolitical tensions in the Middle East drove WTI crude close to $94 and Brent close to $100. Higher energy prices also fed rate fears, with money markets pricing the probability of a Federal Reserve rate hike this month at more than 60%. At the same time, traders were waiting for the U.S. Treasury’s announcement on the maximum size of upcoming 10- to 20-year bond buybacks. Morgan Stanley, Wrightson ICAP, Barclays and Bloomberg strategist Brendan Fagan all outlined different scenarios for how the buyback signal could affect long-end yields. Elsewhere, gold fell for a third straight session while copper hit fresh highs on supply constraints and demand from AI data centers, grid upgrades and electric vehicles. Technology remained the market’s most active pocket. Semiconductor, optical networking, cloud and storage names attracted inflows as OpenAI and IREN added to the case that AI compute demand is still accelerating. Apple’s upcoming product event also stayed in focus, with the pricing of a foldable iPhone, possible increases for the Pro lineup, and launch timing for standard iPhone 18 models all under close scrutiny.








