Markets Hold Breath Ahead of Sanctions, Nvidia Earnings
Global markets are in wait-and-see mode ahead of key events. Oil prices dipped as investors await a US briefing on potential new Iran sanctions, while Nvidia's earnings and the Federal Reserve's next move at Jackson Hole are also under scrutiny.
The Strait of Hormuz is a critical oil shipping route that could be affected by any US action on sanctions against Iran. Crude prices have been volatile in recent days, but Monday's decline suggests traders are hesitant to take big positions until more clarity emerges on the situation.
Nvidia's quarterly results will also be a closely watched event, as investors look for signs of strength or weakness in the AI sector. The company has high expectations, and even a solid quarter may disappoint if its guidance doesn't meet analyst forecasts.