Overview
- Chip and memory shares led a multi-day rebound as investors bought beaten-down technology names ahead of major earnings reports.
- Oil climbed back above $90 a barrel after U.S. forces carried out successive strikes on Iran and Yemen’s Houthi rebels threatened to blockade Saudi shipping, keeping supply-risk premia high.
- A senior Iranian official told Reuters that mediators had proposed a 10-day ceasefire, a development that briefly eased oil and risk sentiment but has not removed uncertainty.
- President Donald Trump’s surprise announcement of 50% tariffs on a broad range of Canadian imports added a separate policy shock that traders say increases market volatility.
- Markets will turn to results from Alphabet, Intel and other bellwethers to test whether AI-driven capital spending justifies current valuations while higher oil prices could push inflation, influence Fed expectations and raise borrowing costs.