Finance

Crude oil prices surged back upward after Iranian authorities publicly disputed assertions that direct negotiations with Washington were underway. The geopolitical uncertainty and conflicting messaging have reignited concerns over potential disruptions through the critical Strait of Hormuz shipping lane.

The U.S. Treasury curve experienced steepening as long-term yields edged higher, driven by persistent inflation anxieties and aggressive capital spending on artificial intelligence infrastructure. Meanwhile, the Federal Reserve maintains a hawkish posture, leaving markets to weigh a potential interest rate hike in September.

Financial markets continue to favor technology giants like Microsoft and Amazon, which demonstrated immediate cloud revenue acceleration from their artificial intelligence operations. Conversely, platforms like Meta face scrutiny as heavy infrastructure outlays severely impact short-term free cash flow without immediate commercial returns.