WS #13016
The dominant signal in this window is the continued escalation of the US-Iran conflict, with Saudi Arabia entering the fray via strikes in Iraq, corroborated by NYT and Axios. This marks a significant escalation, pushing crude oil prices up over 6.5% and threatening Strait of Hormuz traffic. On earnings, Microsoft (MSFT) delivered a strong beat with Azure +43%, while Meta (META) missed on EPS and saw costs surge, sending its stock lower after hours. Qualcomm (QCOM) issued light guidance and announced price increases, while Starbucks (SBUX) raised its full-year outlook on strong same-store sales. The narrative arc is ESCALATING on geopolitical risk, with oil and defense stocks as key beneficiaries, while tech earnings diverge sharply between AI winners (MSFT) and laggards (META).
Topics
Key developments
- Saudi Arabia launches strikes in Iraq, entering US-Iran war
- Microsoft beats Q4 estimates with Azure +43%, cloud revenue $59.3B
- Meta misses Q2 EPS, costs rise 55% YoY, stock falls after hours
- Qualcomm issues light Q4 guidance, announces price increases
- Starbucks beats Q3 estimates, raises full-year outlook
- Crude oil surges 6.56% as US-Iran conflict drags on