Brent crude surged to $100 per barrel Thursday for the first time since May following fresh reports of strikes in the Red Sea, reigniting concerns about critical Middle East shipping routes. The spike triggered a broader market selloff as global bond yields jumped to two-month highs on inflation fears.

Energy stocks rallied while equities broadly retreated; U.S. and U.K. 10-year yields hit their highest levels in two months as investors repriced inflation expectations. Tech mega-caps Alphabet and Tesla posted sharp losses Thursday, with AI spending concerns compounding the oil-driven selloff.

A sustained $100+ oil environment pressures corporate margins, complicates Fed rate-cut timing, and validates geopolitical risk premiums that markets had discounted for months. Supply chain vulnerability in the Red Sea remains a structural headwind for global growth.

Alphabet's earnings appeared to quadruple, but an analyst flagged the performance as "illusory"—propped up by unrealized gains from stakes in SpaceX and Anthropic rather than core business strength. The company's actual cash generation is being dwarfed by historic capital expenditure on AI infrastructure.

Alphabet shares plunged Thursday alongside Tesla as investors reassessed the sustainability of tech mega-cap valuations amid runaway AI spending. The sell-off signals growing skepticism about whether AI capex will deliver commensurate returns in the near term.

The unraveling of the "earnings illusion" narrative threatens the entire mega-cap tech rally. If AI infrastructure spending cannot be justified by near-term revenue growth, capital allocation discipline becomes the central question for 2025.

Comcast reported strong earnings driven by NBCUniversal's performance, reinforcing confidence in the company's planned split separating cable operations from media assets into two independent public companies.

The earnings beat validates the strategic rationale for the split, likely to unlock value for both cable and media shareholders by allowing focused capital allocation and distinct investor bases. Comcast stock benefited from the positive guidance.

The separation reflects broader industry consolidation and the diverging economics of declining cable subscriptions versus streaming and content production. Two pure-play entities may command higher multiples than the conglomerate structure.

India committed $2 billion to small modular reactor (SMR) development this week while Saudi Arabia advanced plans to enter nuclear power generation, signaling a global shift toward decentralized nuclear capacity outside traditional Western frameworks.

SMR and nuclear equipment suppliers—including Rolls-Royce, NuScale, and specialized materials companies—stand to benefit from emerging-market demand. Energy security plays in uranium and nuclear technology gain geopolitical urgency.

The shift reflects energy independence ambitions in high-growth regions and hedging against renewable intermittency. It also signals a realignment of nuclear technology partnerships away from traditional U.S.-Europe dominance toward China and Russia-aligned suppliers.

Southern Copper (SCCO) mapped a path to exceed one million tonnes of annual copper production by 2029, driven by its flagship Tia Maria project coming online. The expansion positions the company to capture upside from structural copper demand tied to electrification and AI infrastructure.

SCCO shares benefited from the production guidance, which de-risks the Tia Maria timeline and signals management confidence in permitting. Copper prices remain supported by supply constraints and long-cycle project delays elsewhere.

Copper supply growth is critical to meeting EV and renewable energy infrastructure demand through the 2030s. Southern Copper's expansion helps alleviate supply tightness that could otherwise constrain the energy transition.

Tesla reported a $28 billion quarter fueled by record vehicle deliveries and reaffirmed plans to launch Semi production this year, but the company's sharply elevated capital expenditure drew renewed investor questions about return on investment timelines.

Tesla shares tumbled Thursday alongside the broader tech selloff as investors reassessed whether Semi and next-gen platform capex will justify the spending burden. The stock's valuation increasingly hinges on execution of lower-cost vehicle programs.

Tesla's capex intensity mirrors the broader tech sector's struggle to demonstrate that massive infrastructure spending translates to near-term profitability. The Semi launch becomes a critical proof point for the company's ability to diversify revenue beyond passenger vehicles.

The European Commission imposed a $1 billion fine on Google for prioritizing its own apps and services in search results, marking another escalation in the EU's antitrust enforcement against the tech giant.

The fine is immaterial to Google's balance sheet but signals regulatory risk that could force structural changes to search monetization and product bundling strategies. Alphabet's stock weakness Thursday reflects broader antitrust uncertainty alongside AI capex concerns.

The ruling reinforces the EU's willingness to impose penalties and potentially mandate product separation. Combined with U.S. antitrust scrutiny, Google faces a multi-year regulatory gauntlet that could reshape its core search and advertising business model.

The Trump administration is preparing to extend or replace a 10 percent global tariff set to expire at midnight, signaling continued protectionist policy momentum and potential escalation in trade tensions with major partners.

Tariff uncertainty weighs on equities, particularly multinational manufacturers and importers exposed to China and Mexico. The threat of renewed tariffs compounds inflationary pressures already evident in oil and bond yields.

Sustained tariff policy creates structural uncertainty for supply chains and corporate margin guidance. Combined with elevated oil prices and Fed rate expectations, tariffs represent a third inflationary headwind that could delay rate cuts and pressure growth forecasts.

Domo sold its main business units for $400 million, leaving founder Josh James with substantial capital to redeploy. The transaction effectively winds down the public company's core operations and signals James's pivot to new investment opportunities.

Domo shareholders receive liquidity from the sale, though the company's future direction remains unclear. The deal underscores the challenges facing mid-market SaaS vendors competing against larger, better-capitalized platforms.

The sale reflects a broader consolidation trend in business intelligence and analytics, where scale and AI integration capabilities increasingly determine competitive viability. James's redeployment of capital will likely target emerging AI or infrastructure opportunities.