Good morning, you're listening to Markets Desk.
Oil is back above ninety dollars a barrel this morning, with Brent crude trading at ninety-two dollars and fifty-four cents as of early Tuesday — nearly five dollars higher than yesterday and a staggering thirty-eight percent above where it stood one year ago. That kind of sustained move reshapes inflation expectations and puts pressure on the Fed.
Staying with energy, but shifting to equities — Apple shares are under pressure today after reports emerged that the so-called all-glass iPhone under new chief executive John Ternus has been quietly shelved. Investors had been pricing in a design revolution under Ternus following Tim Cook's departure, and that optimism is now unwinding in real time. The stock is taking a meaningful hit in early trading.
Meanwhile, Nvidia's Jensen Huang is getting a notable endorsement from Wall Street on what analysts are calling his big concept for the next phase of AI infrastructure buildout. After three years of record capital expenditure funded by big tech's own balance sheets, Huang is pitching a new model for how that spending gets structured — and the Street appears to be listening closely.
That's the tape. Markets Desk, signing off the floor.
