Finance

Crude oil prices fell, breaking a multi-day streak of gains as the market anticipates details from Treasury Secretary Scott Bessent on an economic pressure campaign targeting Iran. The pullback in oil provided brief relief to long-dated Treasury yields, which had hovered near multi-decade highs. Market sentiment remains tense as participants gauge potential retaliatory moves and ongoing global supply chain impacts.

North American commercial relations hit a roadblock following the breakdown of trade discussions between the United States and Canada. The collapse prompt the implementation of new U.S. tariffs on Canadian goods, leading Canadian Prime Minister Mark Carney to call a halt to current negotiations while planning proportional retaliatory actions. The development has introduced further macro-uncertainty, notably dampening the value of the Canadian dollar.

All eyes are on artificial intelligence leader Nvidia as it prepares to report its quarterly earnings on Wednesday. Analysts note that expectations are exceptionally high, with projected revenue figures nearing a massive doubling from previous standards. The performance metrics and updated guidance from the company are viewed as highly critical indicators that could set the near-term direction for the broader Nasdaq and technology sector.