Finance

Energy markets saw substantial relief as Brent crude dropped over 4% to approximately $91 to $92 per barrel, falling back below the psychologically critical $100 mark. West Texas Intermediate futures similarly tumbled down toward $84 per barrel. The sharp descent came directly in response to the pause in U.S.-Iran military engagements and the avoidance of a complete maritime blockade in the Persian Gulf.

Investors are bracing for the busiest week of the corporate reporting calendar, with roughly one-third of the S&P 500 companies scheduled to post quarterly results. High-profile megacap entities such as Apple, Microsoft, Meta Platforms, and Amazon are all slated to disclose their financials. Analysts note that aggregate second-quarter profits are on pace for a robust 26.5% year-over-year expansion, though investor expectations remain exceptionally high.

The Federal Open Market Committee is scheduled to commence its highly anticipated two-day policy meeting under the guidance of Chair Kevin Warsh. While expectations point toward the central bank maintaining current interest rates, traders will parse the official statement for any hawkish tones or indications of future tightening. The policy focus follows a recent spike in the benchmark 10-year Treasury yield, which touched its highest level since early 2025.