Finance

Investor focus is centered on Nvidia as the chipmaker prepares to release its quarterly results after the closing bell. The stock climbed roughly 2% in daily trading, acting as a primary driver for the tech-heavy Nasdaq Composite as markets look for updates on artificial intelligence demand and future revenue guidance.

Crude oil prices saw a significant decline, with West Texas Intermediate and Brent futures falling approximately 6%. This sharp drop followed reports that the U.S. administration is making progress on potential diplomatic negotiations with Iran, which helped cool concerns regarding energy-driven inflation and global supply disruptions.

Sector performance was varied following recent quarterly updates from major retailers. Cava Group and Red Robin saw substantial gains after raising their annual sales outlooks, whereas Target shares fell despite beating profit estimates, as investors weighed the impact of a strategic turnaround plan under new leadership.