Crude oil prices retreated despite continued disruption to shipping through the Strait of Hormuz. Brent crude futures fell around 5% to trade near $90 a barrel, while US West Texas Intermediate (WTI) crude slipped to about $85 per barrel, easing concerns over inflationary pressures.
Apple emerged as the world’s most valuable company, overtaking Nvidia after its shares rose about 1.4% to a record high. The rally lifted Apple’s market capitalisation to roughly $4.95 trillion, bringing it within touching distance of the historic $5 trillion milestone. Meanwhile, Nvidia shares dropped about 3.5%, reducing its market value to around $4.83 trillion.
US stock futures rise
Earlier, US stock futures traded sharply higher on Monday as a steep decline in oil prices and easing geopolitical tensions lifted investor sentiment at the start of a crucial week for global financial markets. Futures linked to the Dow Jones Industrial Average rose about 0.8%, while S&P 500 futures gained a similar margin. Nasdaq-100 futures outperformed, climbing around 1.6% as investors returned to technology stocks after last week’s volatility.
The rebound comes after crude oil prices dropped nearly 5%-7% following signs of a pause in hostilities between the US and Iran. The easing of tensions reduced fears of supply disruptions through the Strait of Hormuz, one of the world’s most important oil shipping routes. Brent crude futures slipped below $90 a barrel, providing relief to equity markets that had been worried about higher energy prices fuelling inflation.
Lower oil prices lift market mood
The fall in crude prices has improved risk appetite across global markets as investors expect lower energy costs to ease inflationary pressures.
Cooling oil prices could also give the US Federal Reserve greater confidence that inflation will remain under control, although policymakers are widely expected to leave interest rates unchanged at the end of their two-day meeting on Wednesday.
While markets are pricing in a pause, investors will closely analyse Fed Chair Kevin Warsh’s comments for clues on the timing of future rate cuts or the possibility of further tightening if inflation remains stubborn.
Big Tech earnings take centre stage
Beyond the Fed, the spotlight will firmly remain on corporate earnings, with several of Wall Street’s biggest technology companies scheduled to report quarterly results this week.
Microsoft, Meta Platforms, Apple and Amazon are among the marquee names due to announce earnings, with investors expected to focus on artificial intelligence spending, cloud growth and capital expenditure plans. The results assume greater significance after recent concerns over elevated AI investments triggered sharp swings in technology stocks.
First Published: Jul 27, 2026 5:57 PM IST
