Iran's Islamic Revolutionary Guard Corps launched a missile attack on U.S. forces in the Middle East, which was intercepted, but it has reignited concerns over regional stability and pushed U.S. oil prices higher, with West Texas Intermediate futures rising 3.7% to approximately $82.20 per barrel. In contrast, Brent crude fell 4.8% to close at $84.09.
Despite this geopolitical tension, Wall Street showed resilience, with S&P 500 futures slightly up and Dow Jones futures down by only 0.1%. In corporate news, SK Hynix reported a record operating profit increase of nearly 557% year-on-year and a revenue jump of 257%, but both figures fell short of analyst expectations, leading to a mixed reaction in its stock price, which rose as much as 4.5%.
Meanwhile, Apple briefly reached a $5 trillion market cap, reflecting strong investor confidence as it maintains lower capital expenditures compared to competitors heavily investing in AI. The article also notes the impact of a 7.1-magnitude earthquake in Japan, which affected operations at major companies like TSMC and Honda, although TSMC confirmed its site was unaffected.
Overall, these events highlight the complex interplay of geopolitical risks and corporate performance in shaping market conditions