Finance

The corporate reporting season continues to dictate market direction as investors assess how artificial intelligence investments translate into revenue. A notable premarket surge from Palantir provided a lift to technology sector sentiment, helping the Nasdaq lead broader index gains. Market participants are also turning their attention to a busy slate of corporate releases, including highly anticipated quarterly data from companies like McDonald's, AMD, and SpaceX.

International oil benchmarks experienced substantial price swings following updates regarding diplomatic status in the Middle East. Crude prices fell more than 4% in a single session after U.S. leadership signaled a pause on planned military strikes against Iran. Despite ongoing disagreements over direct negotiations, progress in alternative regional mediation routes through Oman helped mitigate immediate shipping fears regarding the Strait of Hormuz.

Precious metals held relatively steady, with spot gold fluctuating around the $4,030 to $4,050 per ounce territory. The metal is finding a balance between cooling safe-haven demand and support from a weaker U.S. dollar as market participants digest a hawkish stance from the Federal Reserve. Investors are currently weighing a majority probability of a minor interest rate hike at the upcoming September policy meeting.