US futures dip as investors await Alphabet AI spending update
US stock futures took a dip on Wednesday, with investors keeping an eye out for Alphabet's (Google's parent company) quarterly earnings.
The report is expected to reveal how much Alphabet is betting on AI this year, and whether it'll actually double its spending to a massive $190 billion.
Since Alphabet is such a big player, what they share could set the mood for other tech giants like Microsoft, Meta, Amazon, and NVIDIA.
Oil rises after Iran US strikes
At the same time, oil prices surged after new clashes in the Middle East.
Iran kept blocking the Strait of Hormuz and launched attacks on nearby countries, while the US responded with more military strikes.
All this pushed Brent crude up 5% to $95.47 per barrel and US WTI crude to $88.58, reminding everyone just how quickly global events can shake up energy costs.