Morning Bid: Tech checked as oil boils

Reuters Morning Bid: Global markets cooled as renewed U.S.-Iran tensions sent oil sharply higher, with Brent topping about $103/bbl and WTI trading above $94/bbl after both benchmarks rose more than 3% on Wednesday. The oil jump pressured equities, checking tech's recent rally and trimming U.S. futures and Asian bourses despite the S&P 500 and Nasdaq hitting record highs earlier. Earnings were mixed: Tesla initially rose on free cash flow but reversed after a capex increase to over $25 billion for 2026; IBM disappointed on slowing software revenue; Boeing beat estimates and rallied. Intel, up c.75% YTD, was due to report, and chip supplier SK Hynix posted a five-fold profit surge and forecast strong AI-driven demand. Key market risks remain the oil-driven inflation and geopolitical uncertainty, weighing on risk assets even amid strong tech and chip momentum.