Crude Oil Prices Close to 2-Year High

Market Overview - Pre-market futures are lower, with the Dow down 678 points (-1.39%), S&P 500 down 94 points (-1.36%), Nasdaq down 456 points (-1.82%), and Russell 2000 down 57 points (-2.16%) [1] Oil Prices - Spot oil prices have increased by 27% from near-term lows two weeks ago, with WTI trading at $76 per barrel and Brent crude at $85 per barrel, the highest in almost two years [2] Earnings Reports - Target (TGT): Q4 earnings beat expectations by 2.4% at $2.44 per share, but revenue missed by 0.21% at $30.45 billion, down from $30.92 billion year-over-year. Shares rose by 3.5% in pre-market trading, contributing to a 15.8% gain year-to-date [3] - Best Buy (BBY): Q4 earnings surprised positively by 5.24% at $2.61 per share, but revenue missed consensus by 0.67% at $13.81 billion. Shares increased by 11% in early trading, showing positive momentum in 2026 [4] - AutoZone (AZO): Fiscal Q2 earnings were $27.63 per share, beating expectations of $27.10, but sales missed by 0.82% at $4.27 billion. Shares are down 4% but still show double-digit gains year-to-date [5] - On Holding (ONON): Earnings of 31 cents per share exceeded estimates of 26 cents, with revenues of $930.9 million surpassing projections by 1.72%. However, shares are declining in early trading due to weaker guidance [6] - Viking Cruise Lines (VIK): Earnings of 67 cents per share outperformed expectations by 24%, with revenues of $1.72 billion exceeding consensus by 5.85% and significantly higher than $1.35 billion a year ago [7]