Oil Prices Drop Sharply Amid US-Iran Tensions Easing; Markets Remain Calm
Oil prices fell sharply on Monday as tensions between the U.S. and Iran eased with both sides engaging in dialogue, but stock markets and bond yields remained relatively stable ahead of key economic events this week. Investors are closely watching for upcoming earnings reports from major tech firms and the Federal Reserve's policy decision later in the week. The probability of a rate hike by the Fed is currently at about one-in-three according to market expectations, with uncertainty surrounding Chair Kevin Warsh’s potential moves adding volatility ahead of Wednesday’s meeting. Meanwhile, China's benchmark stock indices rose 1-3%, while European markets were flat and U.S. indices showed modest gains or declines. The energy sector was hit hard by the drop in oil prices, falling around 2%. In contrast, AI-related stocks like Chinese chipmaker CXMT saw significant surges following a large IPO debut.
Tickers: $NOK $NVDA $PLTR $SNDK $WDAY