Finance

The latest earnings cycle highlighted a growing divide among major tech companies regarding their capital infrastructure investments. Microsoft shares surged over 15% after its cloud division reached a major revenue milestone, reassuring investors that massive spending is translating into profits. Conversely, Meta Platforms saw its shares plunge after reporting a steep drop in free cash flow, underscoring the financial strain of its ongoing technology buildout.

Gold prices moved significantly higher, establishing a firm position above the $4,100 per ounce threshold. The precious metal reacted favorably after the Federal Reserve opted to hold benchmark interest rates steady. Despite ongoing geopolitical tensions and the central bank's hawkish stance regarding future inflation measures, a softer U.S. dollar added momentum to the safe-haven asset.

Crude oil futures surrendered recent gains despite a worsening military escalation in the Middle East involving U.S. and Iranian forces. Global benchmark Brent crude fell to just below $89 a barrel, while West Texas Intermediate settled down around 1.1%. Analysts noted that while the Strait of Hormuz remains heavily restricted, alternative shipping avenues and ongoing tanker movements helped temper supply disruption fears.