Finance

All eyes on Wall Street are focused on the tech sector ahead of chipmaker Nvidia's second-quarter earnings report scheduled for mid-week. The results are widely viewed as a fundamental test for the broader artificial intelligence sector, with investors eager to see if demand justifies current high valuations. Analysts are specifically monitoring whether the firm can preserve a gross margin of roughly 75% amidst escalating production costs.

Escalating international tensions have introduced fresh uncertainty into financial markets following Washington's warnings of an impending economic embargo against Iran. In response, Tehran threatened to halt all oil exports passing through the Gulf if the economic pressure continues. Surprisingly, crude oil prices retraced despite the conflict, with both Brent and West Texas Intermediate futures sliding lower.

Precious metals are experiencing a strong resurgence as rising long-term Treasury yields and international policy uncertainties pressure the U.S. dollar. Gold firmed up further, putting it on track for its largest monthly increase on record after gaining roughly 15% so far throughout August. The commodity is regaining widespread popularity as market participants flock to scarcer assets to hedge against macroeconomic risks.