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Wall Street Trends Await Iran Updates
Wall Street indices stabilized as investors awaited developments in the Middle East and tensions with Iran, despite ongoing weak expectations for a US interest rate hike. The S&P 500 remained steady near the support level, while the Nasdaq increased by 0.1%, supported by tech company earnings, notably Anthropic, which surpassed $11.5 billion in revenue in the second quarter, with Microsoft shares rising by over 4%. Meanwhile, oil prices saw limited gains after an Iranian official stated that the country might resort to military action if diplomatic efforts fail, prompting crude futures for West Texas Intermediate and Brent to climb to approximately $83 and $89 per barrel, respectively. Markets continue to await earnings reports from companies like Walmart and Home Depot, as well as the Federal Reserve meeting minutes set to be released on Wednesday. Despite geopolitical and economic concerns, expectations point toward a strong performance harvest for the tech sector.
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