The US 10-year Treasury yield continues to fluctuate at elevated levels around 4.90%, with high yields continuing to weigh on valuations across major US stock indexes. The S&P 500 recently pulled back, closing at 7,541 points, while technology growth stocks face greater discount-rate pressure. Meanwhile, Brent crude prices remain elevated near $104 per barrel, with supply-side and geopolitical risks heightening market concerns about imported inflation. From a technical perspective, upward momentum in the 20-day moving averages (MAs) of major indexes has slowed, while the daily relative strength index (RSI) has slipped into the neutral-to-weak range around 50, reflecting a wait-and-see mood amid mixed macroeconomic forces.