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U.S. stocks fell Tuesday as crude oil extended higher, pushing the 10-year Treasury yield above 4.8% and reviving bets the Federal Reserve could raise rates next week. The Dow led declines, while Amgen was the biggest drag.
Analysts from Citi predict a significant drop in Brent crude prices to $60 a barrel by year-end, banking on the U.S.-Iran truce to hold. Citi analysts said that the memorandum of understanding (MOU) inked between the U.S. and Iran in mid-June will endure, despite potential “temporary flare-ups.” The analysts attribute