Houthis Escalate Saudi Strikes, Briefly Disrupt Riyadh Air Traffic, Hit Bases Near Border

Oracle Rises After Cloud Revenues Beat Thanks To Massive CapEx, Soaring Debt Earnings season may be over, but the occasional earnings reports are still trickling through, and moments ago we got the latest off-season report from the most indebted company in AI, Oracle, which reported adjusted revenue for the first quarter that beat the average analyst estimate, and which helped push the stock higher, but just barely above where it opened.  Here's what ORCL reported moments ago for its fiscal first quarter: Adjusted revenue $19.35 billion, +30% y/y, beating estimates of...

China Scoffs At Iran Arms Transfer Report, After Trump Pours Cold Water On Allegation China has given its response on Thursday to a prior Reuters investigation which strongly alleged that Beijing is preparing to transfer up to 400 Chinese-made shoulder-fired air-defense missile launchers MANPADS to Iran. The Reuters report was highly specific, even identifying the Hong Kong-based company that facilitated the signing of the arms deal between the Iranians and Chinese, but Beijing has rejected the report as a lie and 'groundless', saying there's no truth to it. "China has made its position...

Art Of Leverage? France Pushes 100-Million-Barrel Emergency Release After Trump Threatens Diesel Export Ban If confirmed, Bloomberg's report that France proposed that other European countries and International Energy Agency members release 100 million barrels of diesel and crude oil from emergency stockpiles would signal that Brussels is caving to President Trump’s demand.  Europe's dependence on US fuel supplies gives the Trump administration major bargaining power as the continent approaches winter with below-average energy supplies and exposure to higher costs if a cold snap or further supply disruptions materialize. The report has not...