Brent crude remains near $73 per barrel after U.S.-Iran hostilities pause, while tech stocks face pressure from profit-taking and pricing shifts.
Brent crude prices held steady below $73 per barrel in early trading Monday, despite weekend U.S. strikes on Iran over Gulf shipping attacks. The two sides agreed to halt hostilities and resume peace talks, curbing oil market volatility after a 10% drop last week amid oversupply concerns.
Tech stocks remained under pressure following last week’s selloff, driven by profit-taking after a strong quarter for chipmakers. Micron Technology’s strong earnings contrasted with Apple’s memory cost-driven price increases and reports of a potential delay to OpenAI’s IPO, adding to sector uncertainty.
Markets showed muted reaction to the geopolitical developments, with focus shifting to broader economic signals and corporate earnings trends.