Nasdaq Surges as Oil Prices Plummet

The Nasdaq reached a new high on Tuesday, driven by positive momentum around AI outlooks and declining global oil prices.

Global oil prices fell below $100 a barrel for the fifth straight day, marking the longest downward streak in over a year. Despite this decline, analysts estimate that up to half of the US inflation overshoot is due to elevated energy and commodity prices.

The meeting between Trump and Xi Jinping later this week will likely draw investors' attention, as well as the release of global PMIs and Indonesia's interest rate decision. Central bankers will also take center stage with key speeches from ECB officials, including chief economist Philip Lane and board member Piero Cipollone.