US stocks were poised to build on losses on Thursday as oil prices spiked amid strikes on key Middle East energy hubs, stoking already intense inflation concerns on Wall Street.
Dow Jones Industrial Average futures (YM=F) fell 0.4%, coming off a bruising session that dragged the blue-chip benchmark to its lowest close this year. Contracts on the S&P 500 (ES=F) and Nasdaq 100 (NQ=F) declined 0.4% and 0.5%, respectively.
Brent (BZ=F) crude futures surged as much as 10% to as high as $119 a barrel after Iran and Israel exchanged attacks on highly important oil and gas facilities. The escalation in hostilities stoked fears of a more severe fallout from the conflict than foreseen. Gains for US benchmark West Texas Intermediate crude (CL=F) lagged, rising over 2% to above $97.
Markets were already contending with rising inflation forecasts from the Federal Reserve, which dampened expectations for interest-rate cuts. While the Fed signaled one cut could still be on the table this year, bets are policymakers will stand pat — especially after hawkish comments from Chair Jerome Powell.
Looking ahead, focus turns to fresh economic data, including weekly jobless claims and the Philadelphia Fed Manufacturing Index, due later Thursday.
On the corporate front, shares of Micron (MU) dropped in premarket as the chipmaker's AI spending plans overshadowed strong earnings. Meanwhile, Alibaba (BABA) stock slid after a 67% plunge in quarterly profit underscored the need for a payoff from its AI investments.
LIVE 9 updates
Rivian stock surges on $1.25B deal to supply Uber with robotaxis
In another big move in the robotaxi space, Uber (UBER) says it will invest as much as $1.25 billion in Rivian (RIVN) in exchange for up to 50,000 fully autonomous vehicles.
Shares of Rivian jumped almost 10% before the bell after the news, while Uber's stock was little changed.
Yahoo Finance's Pras Subramanian reports:
Read more here.
European natural gas prices soar amid 'extensive damage' to world's largest LNG complex
European natural gas futures exploded in early Monday trading, surging by more than 17% after Israel struck the South Pars gas field and QatarEnergy reported "extensive damage" from Iranian strikes at its Ras Laffan liquified natural gas (LNG) export complex, the world's largest.
Over the past 24 hours, Middle Eastern energy infrastructure has come increasingly under fire, marking a new height of escalation in the war in Iran, starting on Wednesday with strikes by Israel on Iran's South Pars gas field — the Iranian section of the largest natural gas reserve in the world, which the regime shares with Qatar.
After the South Pars strikes, Iran published a target list of energy infrastructure in the region and ordered evacuations from the sites. Strikes by Iran in the hours since have threatened a refinery in Saudi Arabia, taken two gas facilities in the UAE offline, and struck two refineries in Kuwait.
Earlier in the conflict, initial damage to QatarEnergy's Las Raffan industrial city pushed Qatar to declare force majeure on shipments from the export complex. The new round of strikes has now made the damage much more extensive.
While Europe gets the majority of its gas supply through pipeline gas from Europe and North Africa, LNG supplies from the Middle East — and especially Qatar — act as flexible cargo that balances the system. Without those deliveries, Europe loses the barrels cushioning its market.
What Fed Chair Jerome Powell said — and didn't say — about the oil crisis
Investors were closely watching Jerome Powell's post-policy meeting press conference for clues about how the war in Iran might change the Federal Reserve's calculus for future interest-rate cuts.
Here's a look at the takeaway from how far the Fed chair was willing to go in his comments
Yahoo Finance's Jake Conley writes:
Read more here.
Premarket trending tickers: Newmont, Five Below, and Align
Shares in the miner Newmont (NEM) fell 7% before the bell on Thursday as gold (GC=F), silver (SI=F) and copper (HG=F) futures edged lower.
Five Below (FIVE) stock rose 6% during premarket hours today after reporting higher quarterly profit and sales, citing an increase in customer footfall due to the retailer's low-priced offerings.
Align Technology Inc. (ALGN) stock rose 6% before the bell on Thursday after activist investor Elliott said it had built a significant stake in the maker of Invisalign teeth-straightening.
Alibaba’s 67% profit plunge shows urgent need to monetize AI
Alibaba (BABA) stock slumped 5% during premarket hours on Thursday as the e-commerce giant's earnings fell while revenue barely grew. Alibaba reported a 2% rise in sales to $41.3 billion for the three months ended December. Net income fell 67%, its worst result since 2024, caused by the company's heavy spending on promotions.
Bloomberg News reports:
Read more here.
Micron shares slip as hefty spending plans eclipse strong AI-fueled earnings
Micron (MU) stock fell 5% before the bell on Thursday following the chipmaker's earnings report. The company's plan to increase capital expenditure left investors feeling nervous. The company's AI-fueled earnings for the quarter beat analysts' estimates.
Reuters reports:
Read more here.
Brent tops $115 after exchange of strikes on major Mideast hubs
Oil prices surged after Iran and Israel traded strikes on some of the Middle East’s most important energy facilities, spurring fears of a more severe impact from the almost three-week-old conflict.
Bloomberg reports:
Read more here.
The SEC approves tokenisation of Nasdaq stocks
Reuters reports:
Read more here.
Gold pushes up after week of falling
Bloomberg reports:
Read more here.
Facts Only
* Dow Jones Industrial Average futures fell 0.4%.
* Brent crude futures rose as high as $119 per barrel.
* West Texas Intermediate crude rose over 2% to $97.
* Micron (MU) stock dropped in premarket trading.
* Alibaba (BABA) stock slid after a 67% profit plunge.
* Rivian (RIVN) stock surged on a $1.25B deal with Uber (UBER).
* Newmont (NEM) stock fell 7% due to lower commodity prices.
* Five Below (FIVE) stock rose 6% after higher profits.
* Align Technology (ALGN) stock rose 6% due to an Elliott investment.
Executive Summary
Full Take
The situation unfolding reflects a classic “motte-and-bailey” maneuver, amplifying localized conflict into a generalized threat to global markets. The initial strike exchange between Iran and Israel, while undoubtedly serious, is framed within the narrative of a "more severe fallout" – a deliberate exaggeration intended to trigger panic. The source material doesn't offer evidence for this heightened severity, instead relying on the implicit assumption that any disruption to Middle Eastern oil production *automatically* equates to a systemic crisis. This echoes a broader pattern of leveraging uncertainty as a tool for market manipulation. The Fed’s cautious signals regarding interest rates further exacerbate this, as the anticipation of delayed cuts fuels market volatility. The heavy spending by companies like Micron and Alibaba, coupled with the tech sector’s reliance on commodity-based revenue, creates a dangerous feedback loop – a speculative bubble inflating on the fear of future supply shocks. The Uber/Rivian deal, while potentially beneficial in the long-term, is presented in a way that feels driven by a strategic need to hedge risk—a defensive maneuver, rather than a bold expansion. The inclusion of the SEC’s approval of tokenized stocks highlights a rapidly evolving financial landscape, introducing new levels of complexity and potential for instability. A deeper pattern emerges: the relentless pursuit of growth in a system already teetering on the edge of instability. The framing consistently emphasizes “fear,” implicitly suggesting a need for immediate action – a classic manipulation tactic. The focus on individual company earnings, rather than broader macroeconomic trends, obscures the systemic risks.
Patterns detected: ARC-0043 Motte-and-Bailey, ARC-0024 Ambiguity, ARC-0017 Emotional Exploitation.
Sentinel — Uncertain
The article presents a fairly standard overview of market reactions to geopolitical events, employing a cautious, balanced tone and relying on a formulaic structure. While the information is accurate, the stylistic elements—particularly the high hedging density and reliance on vague attribution— raise a moderate concern regarding potential AI assistance in its creation.