Happy Tuesday. A WSJ report claimed that OpenAI missed key revenue targets, prompting a selloff in semiconductor names and the broader tech sector. Intraday, the Nasdaq Composite and Russell 2000 fell 1.5% and 1.25%, respectively. at the same time, WTI Crude looked to retake $100/barrel amid the ongoing Iran War negotiations.
Big Tech earnings might dominate this week's headlines (especially in light of recent AI-related news), but perhaps investors should spare a crumb of attention for another set of reports: Big Oil earnings.
Amid the precarious and ongoing situation in the Middle East, TheStreet's Charley Blaine argues that investors might pay attention to the big reports, especially given how quickly oil swung from the most "disadvantaged" asset class to one of its most fascinating studies.
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