Market Ripples: Oil, Gold, and Tech Stocks Respond to Geopolitical Easing

Oil and gold prices fluctuated amid geopolitical shifts as investor focus shifted towards tech stocks, buoyed by Taiwan's TSMC and Dutch ASML's performance. Meanwhile, U.S. President Trump indicated no immediate military action against Iran, impacting oil prices and investor sentiment, while tech futures showed potential for recovery.

Oil prices dipped from multi-month highs as gold experienced a slight retraction from record levels. This shift occurred as President Donald Trump seemed to ease off aggressive rhetoric against Iran, diminishing investor drive for secure assets.

Tech stocks witnessed a resurgence, particularly Taiwan's TSMC, which reported a robust 35% profit surge, and Dutch ASML, whose stocks hit record highs, pushing Europe's STOXX 600 index upwards. Meanwhile, currency markets steadied with the yen gaining a slight reprieve following warnings of potential Japanese intervention.

On the U.S. political front, Trump assured there are no plans to dismiss Federal Reserve Chair Jerome Powell. In market movements, Wall Street futures suggested a potential recovery in tech stocks, as broader market rotations showed resilience, highlighted by the performance of the equal-weighted S&P 500 index versus the mega-cap dominated benchmark.

(With inputs from agencies.)