Major Wall Street indexes closed lower, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all recording modest declines. The downturn reflects investor caution ahead of major retailer earnings reports and persistent geopolitical uncertainty. Brent crude futures rose by more than 2%, driven by US-Iran tensions that appear to be delaying any potential agreement. Prediction markets now price the odds of crude oil reaching a new all-time high by year-end at 13% YES, up from 12% the previous day, signaling that market participants are increasingly factoring in geopolitical risks and their potential impact on energy prices.
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