Wall Street set to fall as ships hit in Persian Gulf

Wall Street is expected to open lower, with the Nasdaq 100 projected to fall 1.6%, following reports that Iran says four ships were hit in the Persian Gulf and three others struck mines near the Strait of Hormuz. Oil prices rose sharply, with WTI trading at $99.40 per barrel and Brent at $112, driven by the maritime incidents, faster-than-expected U.S. inventory declines, and Houthi threats to Saudi Arabia. The U.S. ordered evacuation of non-essential personnel from the kingdom. Meta, Tesla, IBM, Texas Instruments, Procter & Gamble, and Honeywell reported quarterly results, with several beating expectations. Generali Investments sees a one-in-three chance of a Fed rate hike next week, while the 10-year Treasury yield fell to 5.04%.