Good morning, you're tuned in to Markets Desk.
Crude oil took a sharp hit Tuesday, with WTI settling down nearly three percent to a two-and-a-half-week low as US-Iran peace negotiations showed meaningful progress. Easing geopolitical tension reduced the risk premium baked into energy prices, and gasoline fell even harder, dropping more than six percent to a five-week low.
That same diplomatic backdrop weighed on the dollar, which slipped as safe-haven demand softened. Notably, the greenback's decline came even as the S&P five hundred climbed to a fresh record high — a sign that risk appetite is driving flows right now, with investors rotating toward equities rather than defensive assets.
And speaking of record highs, the Nikkei two twenty five surged above sixty-five thousand nine hundred in Wednesday's session, reaching all-time territory. Japanese technology stocks led the charge, reversing the prior session's losses entirely. The move tracks a broader global equity rally and reflects continued confidence in Japan's economic momentum heading into the back half of the year.
That's the tape. Markets Desk, signing off the floor.
