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Wall Street banks face internal conflicts
The article indicates a decline in oil prices for the first time in three weeks, as Brent crude fell by 0.6% to nearly $89.2 per barrel, with expectations of a weekly loss exceeding 5%. This downturn is attributed to investors' focus on the potential signing of an agreement between Iran and Oman regarding the management of navigation through the Strait of Hormuz, which would require satisfying US conditions. The drop in oil prices coincided with a rise in technology stocks following Nvidia's earnings results, helping the MSCI World Index increase by 0.5% for the week, with gains across European, Asian, and Pacific markets. Additionally, the upcoming speech by Federal Reserve Chair Jerome Powell at the Jackson Hole symposium is highly anticipated, with increasing expectations about the trajectory of interest rate hikes—particularly a 35% chance of a rate increase in September—amid uncertainty about future monetary policy directions.
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