Global markets remain resilient despite escalating tensions in the Hormuz Strait, where ongoing shipping attacks continue to drive oil price volatility. US equity indices exhibit sharp divergence, as tech and AI-related sectors reach new highs while software-as-a-service companies struggle with valuation concerns and earnings misses. Notable market movements include record gains for GE Vernova, fueled by data center infrastructure demand, and a significant correction in ServiceNow following growth warnings. Meanwhile, the broader economic outlook faces pressure from weakening Eurozone services PMIs and uncertainty regarding US fiscal policy and potential war powers limitations. Investors remain cautious as the earnings season intensifies, with companies like Tesla and Intel navigating complex capital expenditure requirements and shifting competitive landscapes in chip manufacturing.
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