Asian shares rise, oil steadies near $111 a barrel

Summary

Asian markets rose, oil held near $111, and investors tracked the Iran war, currencies, and fresh earnings from major U.S. companies.

Why this matters

The story highlights how the Iran war continued to affect oil prices, currencies, and stock markets worldwide. It also showed how corporate earnings and central bank decisions shaped investor sentiment alongside geopolitical risks.

Brent crude rose 67 cents to $111.07 per barrel, and U.S. benchmark crude added 10 cents to $105.17.

U.S. futures rose 0.2% after Wall Street set more records Thursday. The S&P 500 climbed 1% to 7,209.01, topping its previous all-time high and capping its best month in more than five years. The Dow Jones Industrial Average rose 1.6% to 49,652.14, and the Nasdaq composite gained 0.9% to a record 24,892.31.

Alphabet jumped 10% after reporting a quarterly profit that was nearly double analysts’ expectations. Chief Executive Sundar Pichai said investments in artificial intelligence “are lighting up every part of the business.”

Meta Platforms fell 8.7% despite stronger-than-expected profit, as investors focused on higher projected spending on data centers and AI. Microsoft fell 3.9% after also raising its forecast for investment and capital spending. Amazon rose 0.8%.

In the oil market, the most actively traded Brent contract for July delivery rose as high as $114.70 a barrel, fell toward $107, and settled at $110.40 on Thursday, little changed from the day before. Its peak during the war was $119.50 last month. In thinner trading, Brent for June delivery briefly topped $126 overnight before falling back toward $114. Brent was about $70 before the war.

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