Stock markets showed little movement as geopolitical tensions escalated, particularly concerning Iran. President Trump indicated potential attacks on Iran's infrastructure if Tehran targeted ships in the Strait of Hormuz. The S&P 500 dipped 0.1%, the Nasdaq Composite fell 0.6%, and the Dow Jones Industrial Average saw a negligible decline.

Concerns over global energy infrastructure, from the Strait of Hormuz to the Black Sea, are growing, with oil prices at the center of two major conflicts. Brent crude futures reached $95 a barrel, a significant increase from earlier in the month. Despite strong earnings and raised revenue guidance, GE Vernova's shares dropped over 8%.

Conversely, Super Micro Computer surged nearly 20%, leading the S&P 500 gains. The server company doubled its forecast for quarterly gross margins. Dell Technologies, another server provider, also saw a notable increase of over 9%. In the luxury sector, Cartier's owner Richemont has experienced booming sales, while Hermès, despite lingering demand for its Birkin bags, faces increasing competition.