US equity markets delivered a mixed performance for the week, as an AI-driven rally early in the week was sharply reversed on Friday when surging bond yields and rising oil prices reignited inflation fears. The S&P 500 edged up 0.2% for the week, its seventh consecutive weekly advance, though it fell 1.2% on Friday alone, as technology stocks, particularly chipmakers, led a broad-based decline. Treasury yields rose sharply across the curve, driven by growing concern that persistently elevated oil prices could fuel a new wave of inflation and potentially force the Federal Reserve to raise interest rates. Gold fell approximately 3.6% as a stronger US dollar and rising rate expectations weighed on the precious metal. WTI crude oil surged roughly 10.5% on the week as hopes for a near-term resolution to the Hormuz impasse faded. Overall, last week’s market performance reflected a delicate balancing act for investors: while corporate earnings and economic data remained broadly supportive, the combination of elevated oil prices, rising Treasury yields, and a shifting Federal Reserve policy outlook introduced a more cautious tone heading into the weeks ahead.