Brent crude is marching toward $100, driven by escalating Middle East tensions: Iran-backed Houthis attacked two Saudi Arabian tankers in the Red Sea after the US completed 12 consecutive nights of strikes on Iran. The escalation provides a clear catalyst for higher oil prices.
Intel posted strong quarterly results with upbeat current quarter guidance thanks to the AI boom. The company hiked its full year capital expenditure forecast to $20 billion, and Dan Niles notes that raising CapEx is justified when EPS is growing 40%.