The morning read

US stocks remain near recent highs but fewer names are participating, with only 42% of stocks above their 50-day average, down from 52% a week ago, while the VIX sits at a calm 17. Gold is trading about 2% above its 60-day average alongside a weaker dollar, and bitcoin is up roughly 23% over the past month despite pulling back slightly in the last week. The 10-year Treasury yield is near 4.96%, up about a third of a percentage point over the last month as inflation expectations and oil prices (up 7.5% vs their 60-day average) have risen, with a Fed rate decision and retail sales data due this week.