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Time:2026-06-01T15:13:18Z

Oil prices surge above $95 a barrel after Iran reportedly closes the Strait of Hormuz and suspends talks with the U.S., pushing energy stocks higher while broader markets trade mixed. Nvidia unveils a new AI superchip for Windows laptops and its largest-ever supercomputing system, driving a software sector rally and putting pressure on Intel and AMD. U.S. stocks show little overall change as oil gains offset tech strength.

Oil surges above $95 amid Iran tensions and Strait closure

Oil surges above $95 amid Iran tensions and Strait closureGlobal oil prices jumped 5% to surpass $95 a barrel after Iran reportedly suspended negotiations with the United States and fully closed the Strait of Hormuz. The escalation follows exchanges of fire between the U.S. and Iran, sending energy markets into turmoil. Wall Street felt the impact as energy stocks rose but broader markets were held back by geopolitical uncertainty. The spike comes at a time when markets were already sensitive to supply constraints.

Sources:
Oil prices rise, but not by enough to drag Wall Street far off its records (AP News)
U.S. stocks mixed as oil prices shoot higher (MarketWatch)
Global oil prices jump 5% to above $95 a barrel after Iran reportedly suspends talks with U.S. and fully closes Strait of Hormuz (MarketWatch)
Oil Prices Spike as U.S. and Iran Exchange Fire (NYT)

Wall Street mixed as oil rally offsets Nvidia-led gains

Wall Street mixed as oil rally offsets Nvidia-led gainsThe S&P 500 saw little net change as a surge in oil prices offset strong gains from Nvidia and other tech stocks. Premarket movers included Nvidia, Arm, and Taylor Morrison, while ServiceNow and Adobe rallied on news of Nvidia's new AI chip. The conflicting signals left investors weighing energy-driven inflation risks against AI-sector momentum.

Sources:
S&P 500 is little changed as oil jumps, overshadowing Nvidia gain: Live updates (CNBC)
Stocks making the biggest moves premarket: Nvidia, Arm, Taylor Morrison, Qualcomm & more (CNBC)
ServiceNow, Adobe stocks jump as Nvidia’s new AI chip sparks software rally (MarketWatch)
Intel and AMD shares fall as Nvidia sets its sights on a new market (MarketWatch)

Nvidia unveils AI superchip for PCs and largest supercomputer

Nvidia unveils AI superchip for PCs and largest supercomputerNvidia announced a new AI 'superchip' designed to power Windows laptops, signaling a major push into the personal computer market. The company also revealed its largest-ever supercomputing system focused on agentic AI. The announcements sent software stocks like ServiceNow and Adobe higher while pressuring Intel and AMD, whose shares fell on concerns about Nvidia encroaching on their turf.

Sources:
Nvidia bets on AI personal computers with new ‘superchip’ powering Windows laptops (AP News)
Nvidia announces new AI chip for personal computers (BBC)
Nvidia bets on agentic AI with its 'largest-ever' supercomputing system (Nikkei Asia)