The U.S. and Iran continue to launch military strikes, putting the status of the critical Strait of Hormuz in question. Oil futures are climbing, while stock futures are down.
After stating that talks with Tehran will continue but the ceasefire was over, the U.S. launched strikes on Iran this weekend, while the latter retaliated by hitting American bases across neighboring countries.
The strikes have once again disrupted shipments via the Strait of Hormuz. According to Iran's Islamic Revolutionary Guard, the critical waterway was closed, but the U.S. Central Command, which oversees Mideast operations, said it was open.
The developments signaled continued disruption to energy supplies, sending oil futures higher. U.S. crude oil futures were last up 4.03% at $74.31 per barrel and Brent futures, the international benchmark, traded 3.89% higher at $78.97.
Away from oil, AI remains the dominant story in tech, although top executives and workers appear to be reading the boom quite differently.
Several AI executives told CNBC that demand for AI remains strong, while a majority of U.S. employees now want to hold corporations more accountable via an AI sovereign wealth fund.
As many as 69% of Americans now support forcing AI firms to transfer 50% of their stock to a public sovereign wealth fund, according to a recent poll.
