Finance

Oil prices pushed higher as hopes for a diplomatic breakthrough in Pakistan faded and traffic through the Strait of Hormuz remained restricted. Brent crude settled near $98 per barrel, marking a significant rise as traders weighed the potential for renewed conflict after the ceasefire deadline.

UnitedHealth Group shares surged over 7% following strong quarterly earnings, acting as a rare bright spot for the major benchmarks. While the broader healthcare and defense sectors faced pressure, robust corporate results helped stabilize some portions of the market despite high-profile news like Tim Cook's planned departure from Apple.

U.S. retail sales for March increased by a robust 1.7%, significantly exceeding analyst forecasts despite the ongoing conflict. This consumer resilience, coupled with energy-driven inflation fears, has led market participants to reduce expectations for near-term interest rate cuts from the Federal Reserve.

Bitcoin and Ethereum traded higher on Tuesday morning, with Bitcoin maintaining a position above the $75,000 threshold despite broader equity weakness. While altcoins showed mixed performance, the total crypto market cap remains consolidated around $3.5 trillion, supported by institutional adoption through spot ETFs.

The U.S. wheat crop is experiencing significant stress, with ratings in top-producing states like Kansas and Oklahoma falling well below their historical averages. A combination of prolonged drought and a recent weekend freeze in the U.S. Plains has raised concerns over long-term crop damage and potential supply shortages.