The Investment Management Group at Duncan Williams Asset Management is led by a team with extensive experience in investment management, financial planning, and client service. President David Scully, CFA®, CFP®, has more than 20 years of experience and is active in Memphis civic organizations. Chief Investment Officer Kyle Gowen, CFA®, CFP®, oversees investment strategy and is engaged with the local community. Investment Analyst Jack Eason, CFA®, provides research and supports charitable initiatives. The IMG team is committed to professional standards, client service, and community involvement. No statement is intended as an offer of investment advice or a guarantee of future results.
U.S. equities finished higher after crude prices eased on signs of movement toward reopening the Strait of Hormuz, taking some pressure off inflation fears even as Treasury yields hovered near multi‑decade highs. The tone improved into the close, with gains broad enough to offset yesterday’s wobble and reset the week’s narrative back toward “resilience despite rates.”
Key Headlines & Market Movers
Oil narrative flips: talk of a Hormuz plan steadies risk appetite: Reports that the U.S. and Iran are working on a short, phased framework to reopen the Strait of Hormuz nudged crude lower and encouraged buyers back into equities. With energy’s price impulse tempering, traders leaned into the idea that inflation pressure could ease at the margin if shipping flows normalize. The shift in oil’s trajectory was the day’s swing factor, helping indexes grind higher into the bell.
Rates remain the ceiling—just a bit higher up: Long-end Treasury yields steadied after surging to levels last seen in the mid‑2000s, keeping the market’s focus glued to the cost of capital. The 10‑year’s climb this week has been the primary constraint on risk multiples; today’s pause helped growth shares and broader benchmarks exhale. Even so, the message from the tape is clear: with yields near cycle highs, leadership continues to favor durable balance sheets and cash‑flow visibility.
AI infrastructure gets a spotlight moment: Akamai jumped after unveiling a multi‑year agreement with Anthropic, feeding the thesis that infrastructure and enablement layers can capture secular AI spend even as front‑end cycles ebb and flow. The move underscores where investors are still paying up: dependable, recurring demand tied to cloud, security, and AI workloads. It also provided a focal point for sector bulls on a day when macro set the boundaries for risk.
Into next week, the path of oil and long-end yields remains the primary driver of risk appetite. Any concrete confirmation—or setback—around Hormuz could swing energy and inflation expectations, while fresh Fed commentary will be read through the lens of a still‑firm economy and restrictive rates. Watch whether today’s quality‑tilt persists and whether breadth improves beyond megacaps as funding costs stabilize.
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