Premarket: AI rally fizzles as Middle East ceasefire goes on ‘life support’

Oil edged higher and the dollar strengthened as hopes faded for a deal to reopen shipping through the Strait of Hormuz, keeping geopolitics front and center. The pullback in chip stocks suggests broader risk appetite cooled, while traders are awaiting U.S. inflation data that could influence rates and FX moves. The article points to a cautious, risk-off market tone rather than a single stock-specific catalyst.

Analysis

Oil edged higher and the dollar strengthened as hopes faded for a deal to reopen shipping through the Strait of Hormuz, keeping geopolitics front and center. The pullback in chip stocks suggests broader risk appetite cooled, while traders are awaiting U.S. inflation data that could influence rates and FX moves. The article points to a cautious, risk-off market tone rather than a single stock-specific catalyst.