Trump threatens to bomb Oman, lets Iran ceasefire expire. Oil jumps 2.7%. Nvidia puts $105B into an OpenAI data center. Markets split.
U.S. President Donald Trump threatened to bomb Oman and let a temporary ceasefire with Iran expire, sending oil prices higher and stocks lower Monday. Trump warned that Oman could face military action if the Gulf nation interfered with shipping in the Strait of Hormuz. The ceasefire between Washington and Tehran, agreed in June, expired Monday evening. Trump said he would not seek an extension. A senior Iranian official told Reuters that Tehran would shift to offense if diplomacy failed.
Brent crude settled at $90.87 a barrel, up 2.7%. West Texas Intermediate rose 2.6% to $84.50. Oil extended gains in early Asian trading Tuesday.
U.S. stocks fell. The S&P 500 slipped 0.5%. The Nasdaq Composite dropped 0.32%. The Dow Jones Industrial Average lost 0.51%.
Nvidia will provide up to $105 billion in financing for a new artificial intelligence data center in Ohio, a securities filing revealed Monday. The credit supports an initial 4.25 gigawatts of computing capacity, with an option for an additional 3.75 gigawatts. Nvidia will supply the compute. Capacity is expected to come online in phases starting in 2028.
The deal is the latest in a string of financing maneuvers Nvidia has used to support the sprawling AI data center buildout, even as concerns about circular financing in the AI trade mount. NVDA currently holds an Alpha Score of 78, classified as Strong, with the stock trading near $225 and down 0.07% on the day. Its stock page shows the full picture.
Meta faces a lawsuit in California. The suit alleges the company fostered addictive behavior in teens and children. Industry experts called it social media's Big Tobacco moment, the suit said. The reference is to tobacco companies in the 1990s that were forced to pay billions for misleading the public about the harms of their products.
Disney's new parks boss outlined an investment strategy focused on superfans. Thomas Mazloum, chairman of Disney Experiences, announced a yeti repair at the Animal Kingdom attraction, the return of beloved characters Dreamfinder and Figment to Epcot, and an overhaul of Tomorrowland in California. He made the announcements to 12,000 fans at the division's showcase Saturday. The strategy aims to lean on the most loyal attendees to counter macroeconomic uncertainty and challenging travel trends.
Asia markets opened mixed Tuesday. Japan's Nikkei struggled for direction, while Hong Kong's Hang Seng ticked higher.
The ceasefire's expiration leaves the Strait of Hormuz vulnerable. Oman has been working with Iran on a plan to define transit routes for shipping. Trump's threat adds a new layer of risk to an already tense waterway. Talks continue, no agreement has been reached.
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