Good afternoon and welcome to Markets Desk.
Oil pulled back from monthly highs today after President Trump moved to reassure energy markets that a peace deal is within reach. West Texas Intermediate and Brent crude both edged lower on the news, a sign that geopolitical risk premium is starting to come out of the front-month contracts as traders price in a potential de-escalation.
Shifting to semiconductors, Marvell Technology surged twenty-two percent after Nvidia chief Jensen Huang publicly declared it could be the next trillion-dollar company. That kind of endorsement from the most influential voice in chip architecture carries real weight with institutional money, and the market responded accordingly — a single sentence from Huang moving billions in market cap.
And in retail, Victoria's Secret delivered a stunning turnaround moment, with shares spiking forty percent after the company posted a significant earnings beat and raised its sales outlook. CEO Hillary Super credited the brand's renewed appeal among younger shoppers across income levels, suggesting the repositioning strategy is gaining genuine commercial traction rather than just narrative momentum.
That's the tape. Markets Desk, signing off the floor.
