Welcome to Markets Desk, here's what's moving markets right now.
Crude oil is taking a serious hit today, with West Texas Intermediate falling nearly five percent to a three-and-a-quarter-month low. The catalyst is straightforward — progress toward an end to US-Iran hostilities is raising expectations of significantly higher global oil supply, and traders are pricing that in fast.
Pulling back to the broader tape, the divergence today tells a real story. The Dow is holding modest gains while the Nasdaq one hundred is down nearly one percent, weighed down by software names alongside that energy selloff. It's a rotation signal worth watching — growth and tech under pressure while more traditional industrial names find footing.
On the commodity side, coffee is moving sharply in the other direction. Arabica futures are up nearly three percent to a two-week high, with robusta not far behind at a five-week high. The driver is supply anxiety out of Brazil, where harvest delays are tightening the near-term outlook and giving bulls in the coffee market fresh conviction.
That's the tape. Markets Desk, signing off the floor.
