Nasdaq Leads US Indices Higher as Tech Buyers Look Past Rate Warning

TD Cowen expects limited near-term adoption of tokenized stocks in the U.S. even after the SEC created a five-year framework for qualifying venues. The bank sees perpetual futures as the stronger demand story for crypto-linked stock exposure, citing far higher activity than tokenized spot products.

Treasury Secretary Scott Bessent argued that the U.S. economy remains resilient, pointing to the dollar’s central role in foreign exchange and stablecoins. His comments come as the 10-year Treasury yield reaches 5% and debate intensifies over buybacks, debt management and global payment rails.

Crude oil futures weakened as Saudi export flows through Hormuz appeared to recover, easing part of the geopolitical premium. Diesel tightness, refinery outages and unresolved regional risks continue to limit how far sellers can push the correction.