Asian Markets Rise on AI Chip Surge; Oil Climbs to $96 on Houthi Tanker Attacks
Asian markets advanced as AI chipmakers rallied, while oil prices neared $96 per barrel after Houthi attacks on Saudi tankers escalated Middle East supply risks. Investors await key AI earnings from Alphabet, Microsoft, Meta, and Amazon.
Asian equities rose on Monday, buoyed by a surge in AI-related chip stocks. Meanwhile, crude oil climbed toward $96 per barrel as Houthi militant attacks on Saudi oil tankers heightened concerns over supply disruptions in the Middle East.
Market attention is squarely on the upcoming earnings reports from major technology companies. Alphabet's record AI spending and Tesla's disappointing results have set the stage for reports from Microsoft, Meta, and Amazon, which will test the durability of the AI-driven rally.
Source: First Squawk