Good morning, you're tuned into Markets Desk.
Oil is pulling back sharply after a blistering run that pushed both Brent and West Texas Intermediate above one hundred dollars a barrel. WTI has now dipped back below that threshold, while diesel futures hit a fresh record above six dollars. The move lower came on reports of diplomatic talks between Gulf states, giving traders a reason to take some profit off the table after double-digit weekly gains. It's a reminder that geopolitical headlines can push prices up just as fast as they can bring them down.
Turning to tech, Oracle shares are climbing after the company delivered a solid quarterly report that broadly impressed Wall Street. Analysts are calling the results strong, though some remain cautious about the pace of cloud growth relative to expectations. The stock's move higher is giving enterprise software names a lift and adding a constructive tone to what has otherwise been a choppy week for equities.
And in the semiconductor space, investors laser-focused on AI and memory chips may be overlooking the equipment makers that supply the entire industry. As demand for advanced chips accelerates, the companies that build the machinery to manufacture them are seeing their own order books swell — a quieter but potentially more durable trade within the broader tech complex.
That's the tape. Markets Desk, signing off the floor.
