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Gulf on Edge as UAE Oil Hub Blaze Fuels Iran–US Tensions

  Smoke rises in the Fujairah oil industry zone, caused by debris after interception of a drone by air defences. A surge in regional tensions has followed a major fire at a UAE oil hub, sparked by debris from intercepted drones, as Iran vows retaliation for a recent U.S. strike on its Kharg Island oil facilities. The incident has intensified fears of broader conflict across the Gulf, with Iran warning that parts of the UAE could be considered legitimate targets.  A significant fire erupted at a major oil hub in Fujairah, United Arab Emirates, after debris from intercepted drones fell onto the facility, disrupting operations and sending plumes of smoke across the region. The blaze occurred amid escalating hostilities following a U.S. strike on Iran’s Kharg Island—Tehran’s primary oil export terminal. Iran responded with sharp warnings, declaring that U.S. “hideouts” within the UAE could be targeted as legitimate military sites. The threat came as Iran continued missile and d...
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Wall Street Pauses as Nvidia’s Data Center Miss Tempers AI Euphoria

US stock futures were muted Thursday morning as investors digested Nvidia’s latest earnings, which beat expectations on revenue and profit but fell short in data center sales — a key growth driver for the AI chipmaker.

The Dow Jones Industrial Average edged up 0.1% to 45,565.23, showing resilience amid tech weakness, while S&P 500 and Nasdaq 100 futures hovered near the flatline. Nvidia shares slipped 0.09% to $181.60 after an initial steeper drop, as the market weighed whether the AI boom can sustain its blistering pace.

CEO Jensen Huang highlighted “extraordinary” demand for the company’s Blackwell AI chips and projected China as a $50 billion opportunity, despite ongoing US export restrictions. Still, the softer data center results prompted a cautious tone across the tech sector, with AMD and other AI-linked stocks also under pressure.

Beyond Nvidia, traders are eyeing fresh US economic data, including jobless claims and Q2 GDP revisions, for clues on the Federal Reserve’s next move on interest rates. Friday’s PCE inflation reading remains the week’s most anticipated macro event.

Elsewhere, Snowflake shares surged on upbeat guidance tied to AI adoption, while Dollar General jumped after raising its 2025 outlook. The mixed corporate and macro signals left Wall Street in a holding pattern, with investors balancing optimism over AI’s long-term potential against near-term growth concerns.

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