The Iranian-aligned Houthis said they struck two Saudi oil tankers as part of a naval blockade on Saudi Arabia.

The Houthis claimed to have attacked two ships in the Red Sea, and Iran said a third caught fire near the Strait of Hormuz.

Oil prices rose to a near six-week high on Wednesday on mounting concerns about disruptions to Middle Eastern supply routes.

Brent crude rose to over $98 a barrel following the news that the rebel group attacked the vessels in the Red Sea.

US stocks swung between small gains and losses after chipmakers came off session lows and oil prices jumped on the escalation of the US-Iran war. Traders are also bracing for key earnings from Alphabet Inc.

Those risks seem to be weighing on equity investors today, with the Nasdaq composite slipping after yesterday’s chip-stock rally. Big Tech earnings will be in focus this afternoon, with updates from Alphabet,

Shares of Alphabet and Tesla fell in premarket trading on Thursday after both firms signalled increased AI spending, unnerving investors worried about the mounting costs of the artificial intelligence boom.

US stocks closed mixed on Wednesday as rising oil prices and caution ahead of a key batch of corporate earnings weighed on investor sentiment. Investors also continued to monitor developments in the Middle East and reassess expectations for Federal Reserve interest rates.

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IBM (NYSE:IBM) lowered its revenue growth expectations for 2026 after weaker demand for data-centre mainframe systems weighed on quarterly performance, although the company maintained confidence in its profitability and long-term artificial intelligence strategy.

IBM dropped its full-year revenue growth target on Wednesday to between 4% and 5% from a prior forecast of over 5%, after sales of its mainframe hardware fell 42% in the second quarter. The cut confirms to shareholders who had watched the stock recover over the last few years that IBM’s most profitable legacy

CEO says Big Blue is well-positioned across its software, infrastructure and consulting businesses to help customers capture value from AI.

The European Central Bank kept borrowing costs on hold on Thursday but left room for more tightening in the coming months as a widening conflict in the Middle East pushed up energy prices again.

After raising interest rates by a quarter point to 2.25 per cent last month, the ECB Governing Council decided to stay at that level in July. The statement noted that its energy price outlook, “while highly volatile,

Markets are expecting interest rates to be held by the European Central Bank when it meets on Thursday, but analysts expect hints for hikes later in the year. There’s a 92% chance of rates being kept at 2.

The European Central Bank is all but certain ​to keep interest rates unchanged on Thursday but will hold the door wide open to another rate hike in September, as a fresh jump ‌in energy prices threatens to put more upward pressure on inflation.

European indexes fell in opening trade, as consumer stocks that had rallied in the last session handed back some gains.

European shares edged lower on Wednesday, dragged down by technology stocks as caution prevailed ​ahead of earnings from U.S. big ​techs, while investors assessed escalating Middle ⁠East tensions.

European markets slip as UK GDP rises 0.1% and trade deficit narrows; track Stoxx 600, bond yields and EUR/USD moves—read the latest update.

European stocks closed higher on Tuesday, supported to a large extent by gains in technology and materials sectors, as investors looked ahead to earnings updates from several big-name companies and awaited the European Central Bank's monetary policy announcement.

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