Stocks Slip on Mixed Megacap Earnings, Oil Rises on Middle East Tensions

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US stocks fell in futures trading and Asian shares declined Thursday after mixed earnings from major technology companies raised doubts about the durability of the AI trade rebound. Oil prices climbed as Middle East tensions escalated. Tesla shares dropped 3.3% after cutting its capital-spending forecast, while Meta Platforms rose 2.2% after boosting its AI spending outlook. Lam Research fell 7.4% on a weak forecast, and chipmakers Samsung and SK Hynix declined. Brent crude rose 1.3% above $110 a barrel following a deadly attack on a Saudi oil field. The US State Department ordered departure of non-emergency personnel from Saudi Arabia, and reports indicated US and Israeli plans for strikes against Iran. Investors worry that rising oil prices could be stagflationary as winter approaches.


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