Geopolitical tensions escalate as Iran claims missile strikes on USS Abraham Lincoln and closes the Strait of Hormuz to hostile nations, triggering immediate market volatility. Brent crude surged above $100 per barrel amid concerns over the world's critical oil chokepoint. Meanwhile, European economic data shows mixed signals: France's inflation unexpectedly jumped to 2.5% year-over-year in April, complicating the ECB's rate-cutting outlook, while Spain's economy remains resilient with Q1 GDP growth of 0.6% quarter-over-quarter, beating estimates. On the corporate side, Alphabet received a major price target increase to $450 from TD Cowen, driven by optimism in Google Cloud and AI integration. Unilever also posted strong results with CEO forecasting significant U.S. growth acceleration from Q2 onward.
Post from MarketNews_en
Log in to interact with content.