Finance

Global energy commodity prices fell significantly following an agreement between the United States and Iran to temporarily halt military strikes to allow for diplomatic discussions. Brent crude futures dropped approximately 6% toward the mid-$80s range per barrel, alleviating some immediate inflationary pressures across financial markets.

Shares of Apple advanced to a new all-time intraday high, bringing its total market capitalization to roughly $4.95 trillion and putting the iPhone maker on course to surpass Nvidia as the largest U.S. company. Conversely, Nvidia extended its recent losses, slipping to a $4.8 trillion valuation as investors reassess broader tech capital expenditures and respond to new global semiconductor market competitors.

Wall Street faces a high-stakes week with upcoming quarterly financial results scheduled from four dominant technology firms including Microsoft, Meta, Apple, and Amazon. In addition to corporate updates, market participants are keeping a close eye on the Federal Reserve's policy decision due on Wednesday to gauge the future path of interest rates.