economy
Stock futures rise, Asia mixed as fragile U.S.-Iran truce keeps oil markets on edge: Live updates
Wall Street is coming off a mixed week, characterized by a rotation out of tech and into other parts of the stock market.
TL;DR
- Stock futures rose, indicating a positive start for U.S. markets despite ongoing uncertainty.
- A truce between the U.S. and Iran led to a pause in hostilities, with commercial vessels allowed to transit the Strait of Hormuz freely.
- Crude oil prices increased as traders assessed the stability of the truce and potential disruptions to energy supplies.
- Asian markets traded mixed, reflecting the impact of Middle East developments and last week's tech stock rout.
- Baidu's AI chip arm, Kunlunxin, is reportedly targeting a $50 billion IPO in Hong Kong.
- China widened export curbs on Japanese entities, restricting access to dual-use goods.
- Samsung Electronics and SK Hynix shares fell significantly due to reports of planned investments exceeding $1.3 trillion over 10 years.
- SpaceX is set to join the Nasdaq-100 index, triggering buying from passive investors.
- President Trump threatened Iran with annihilation following U.S. strikes on Iranian military targets.
- Wall Street experienced a rotation out of technology stocks into other sectors the previous week.