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Oil prices surged to $96.50 per barrel after Iranian Parliament Speaker Mohammad Bagher Ghalibaf withdrew from negotiations with the United States, signaling a stall in the peace process. This development contributed to a volatile trading day, with the S&P 500 and Nasdaq both reaching intraday record highs before closing down 0.41% and 0.89%, respectively. IBM and ServiceNow led the decline in the software sector, with IBM dropping over 10% and ServiceNow plummeting more than 17% due to cautious guidance and geopolitical concerns.In the cryptocurrency market, Bitcoin traded within a narrow range of $77,800 to $78,200, closing near $77,831. Despite the global crypto market cap standing at $2.68 trillion, Bitcoin struggled to break the $80,000 barrier amid macroeconomic pressures from rising oil prices. The Fear & Greed Index remained neutral at 46, reflecting cautious market sentiment.Texas Instruments bucked the trend, rising 16% on strong earnings, while defensive sectors like utilities gained 2.80% as investors sought safer havens. The market remains focused on the impact of AI on software companies, with upcoming earnings reports from Intel expected to provide further insights.

BTC+1.16%

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