Finance

Crude oil futures experienced significant swings as traders monitored negotiations aimed at ending conflicts involving Iran. Early reports of a potential framework for a truce sent Brent crude below $100 per barrel, though prices later recovered some ground as the market sought confirmation of a final agreement.

Weekly initial jobless claims for the period ending May 2 came in at 200,000, slightly lower than analyst expectations despite a marginal increase from the previous week. Continuing claims also declined for the third consecutive week, reaching their lowest levels in over two years.

Q1 2026 reporting remains a primary market driver, with cybersecurity firm Fortinet gaining 15% and Kraft Heinz rising on earnings beats. Conversely, Arm Holdings and Whirlpool faced sharp declines due to concerns over smartphone demand and war-induced downturns in the appliance industry.