Singapore/London ¨C In thrall to an AI boom ?that has sent stocks to record highs and harboring hopes of a short-lived Iran war, investors have yet to prepare for a doubling of physical oil prices. The window to do so may soon be closing.
There are plenty of reasons for market confidence, largely centered on the artificial intelligence galaxy of hyperscalers, semiconductor makers and software developers and robust earnings growth. The S&P 500 hit fresh record highs on Thursday.
While price pressures are showing up in business activity surveys and consumer inflation expectations, growth and employment remain on a ?fairly even keel and global central banks suggest they will not rush to raise interest rates as they weigh the impact of the war.
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