Nasdaq Reaches New High as Oil Prices Continue Decline

The Nasdaq index reached a new high on Tuesday, driven by optimism surrounding artificial intelligence and lower global oil prices. The AI sector is gaining momentum, and investors are also taking note of China's cheaper AI model, which may challenge the US's expensive approach. However, experts warn that the technology could pose significant risks to humanity.

The oil market saw a fifth consecutive day of losses on Tuesday, with Brent and WTI crude futures falling below $100 per barrel. This marks the longest decline in over a year, but it remains unclear whether this trend will continue. Analysts estimate that up to half of the US inflation overshoot is due to elevated energy prices.

The US-China leaders' summit in Washington this week may also have an impact on markets. President Trump and Chinese leader Xi Jinping will meet to discuss various issues, including AI and trade. Meanwhile, global PMIs (September flash estimates) are expected tomorrow, as well as the Indonesia interest rate decision and European Central Bank officials speaking.