The Nasdaq dropped 146 points today, brushing off a surge from hardware heavyweight Super Micro Computer (SMCI), while the S&P 500 and Dow finished quietly lower after a volatile trading session. Investors continued to unpack another wave of corporate earnings while keeping an eye on Middle East tensions amid 11th straight days of U.S. strikes against Iran. After the close, attention now shifts to quarterly reports from Alphabet (GOOGL) and Tesla (TSLA).
Oil Prices in the Spotlight Once More
Oil prices continued to climb, hitting their highest level in over a month after Secretary of State Marco Rubio said Tehran was not serious about reaching a deal. September-dated West Texas Intermediate (WTI) crude rose 3% to $86.83 per barrel.
Despite the continued attacks, hopes of de-escalation pushed gold prices higher for the second day. August-dated gold futures rose 1.1% to settle at $4,120.60 per ounce.
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