ASX Set to Open Higher as US-Iran Tensions Ease; Oil Prices Dip

Australian markets are poised for a stronger opening, with ASX 200 futures indicating a 0.6% rise, signaling a recovery from last week's slight downturn. This optimism follows news that the United States and Iran have temporarily halted their bombing campaigns, easing geopolitical tensions that had previously weighed on global markets.

Wall Street experienced a mixed session, with the S&P 500 managing a marginal gain after trading lower for much of the day. The Dow Jones Industrial Average also closed higher. However, the tech sector continued its retreat, with the Nasdaq Composite falling 0.6%. Concerns over AI valuations and the impact of broad tariffs imposed by the Trump administration contributed to the cautious mood among investors. Chipmaker Intel saw an 8% drop despite strong quarterly results, and major tech stocks like Amazon and Tesla also experienced significant declines.

In commodity markets, oil prices eased below the $100 per barrel mark. Brent crude futures fell 3.9% to $96.78, and West Texas Intermediate futures dropped 3.1% to $89.31. This decline is attributed to reports that China has initiated efforts to resume stalled peace talks between the US and Iran. The temporary halt in military actions has provided some relief, though energy markets remain sensitive to ongoing developments.

European markets largely recouped losses from the previous session, with major indices closing higher. The Dax, FTSE, and Eurostoxx all saw gains, reflecting a broader cautious optimism across global financial centers as investors digest the latest geopolitical and economic news.

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energy markets remain