Markets Wait for Nvidia Earnings and US Inflation

Global markets entered a holding pattern on Wednesday morning as traders awaited earnings from NVIDIA CORP while rising hopes of supplies moving through the Strait of Hormuz pushed oil prices lower in a reprieve for bond yields. Brent Crude Oil futures fell for a third straight day, sliding more than $2 to $86.22 per barrel after Iran said it had restarted talks with neighbour Oman to manage the strait amid economic pressure from the United States President Donald Trump. The rising optimism in the face of little evidence of immediate relief to supply challenges suggests investors are setting themselves up for disappointment.