Oil prices slipped back below $113 a barrel after a flare‑up in the Persian Gulf, but still sit above yesterday’s lows. The market watched President Trump’s hesitation to call Tehran a cease‑fire violator, which kept sentiment cautious.

Brent crude futures closed at a multiyear high, topping June 2022 levels before easing. Investors remain wary of renewed hostilities after Iranian strikes on a UAE terminal and shipping lanes in the Strait of Hormuz.

Technology stocks are poised to lead gains, with the Nasdaq‑100 expected to outpace the broader market. Corporate earnings will dominate the trading day as Pfizer, KKR and AMD report results.

The day’s mix of geopolitical risk and earnings pressure underscores the fragility of commodity‑driven markets. Traders will watch how the latest oil dip translates into broader equity movement, while investors weigh the impact of potential disruptions in the Gulf.