Markets in Asia opened lower due to heightened tensions following an Israeli attack on Iran, causing oil prices to surge. U.S. crude increased by 8.2% amidst fears of conflict impacting the global economy, although analysts expect Asian markets to recover quickly due to limited exposure. Meanwhile, U.S. stock indexes rose, bolstered by positive inflation data and Oracle's strong financial performance. This increase in tech stocks helped offset losses from Boeing, which suffered a setback following a plane crash incident involving Air India.
"An Israeli attack on Iran poses a top ten of our global risk, but Asian markets are expected to recover quickly as they have relatively limited exposure to the conflict and growing ties to unaffected Saudi Arabia and the UAE."
"The tech giant delivered stronger profit and revenue for the latest quarter than analysts expected, and CEO Safra Catz said it expects revenue growth 'will be dramatically higher' in its upcoming fiscal year."
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