Finance

Global energy benchmarks slid significantly, with Brent crude tumbling below the $91 per barrel threshold after spiking above $100 late last week. The price decline is directly tied to the cessation of hostilities in the Middle East and renewed diplomatic efforts to secure shipping access through the strategic Strait of Hormuz.

Wall Street is bracing for a highly critical week of corporate reporting as tech heavyweights like Microsoft, Meta, Amazon, and Apple prepare to publish their second-quarter results. Investors are increasingly demanding clear proof of immediate financial returns to justify elevated capital investments, especially after disappointing updates from Alphabet and Tesla triggered sharp sector losses last week.

The central bank is widely projected to leave interest rates unchanged at its policy meeting this Wednesday, but market participants remain divided on the long-term outlook. Despite persistent inflation pressures earlier in the year that fueled rate hike anxieties, recent drops in oil prices and bond yields may alleviate immediate pressure on monetary policymakers.