The major averages were broadly lower amid stalled peace negotiations between the U.S. and Iran as well as new escalation in the Strait of Hormuz. Investors are also balancing continued strength in corporate earnings and AI-driven optimism with rising geopolitical tension and macro uncertainty.
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The collapse of U.S-Iran peace talks has pushed oil prices higher, raising fresh concerns about inflation and global growth. Of note, Iran’s Foreign Ministry spokesperson has said that no meeting between the U.S. and Iran is currently planned.
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.
1. STOCK NEWS:
2. WALL STREET CALLS:
Snap (SNAP) upgraded to Buy at Rothschild & Co Redburn
Rothschild (PINS) to Neutral from Buy
Mizuho (ADBE) on intensifying competition from AI
Mizuho (CRWD), citing “numerous exciting growth avenues”
Campbell’s (CPB) downgraded to Market Perform at Bernstein
3. AROUND THE WEB:
Samsung (SSNLF) plans to withdraw from China’s home appliance and television market this year, Nikkei Asia reports
Amazon (AMZN) has entered a multiyear licensing deal with Oprah Winfrey, NY Times reports
Big tech companies are preparing to spend hundreds of billions of dollars on AI infrastructure, with most of their plans dependent on ASML (ASML), WSJ says
South Korea and Google (GOOGL) have agreed to establish an AI campus in Seoul to strengthen collaboration with local engineers and startups, Reuters reports
Bayer (BAYRY) is hoping the U.S. Supreme Court can reduce or simplify the lawsuits over its Roundup weedkiller and potentially corral litigation that has cost the company over $10B, Bloomberg says
4. MOVERS:
