Sep 11 — Oil shock, ECB hike, and AI earnings bright spots

• US-Iran military escalation pushed crude above $100 a barrel while Saudi output hit a 35-year low — a supply crunch and geopolitical premium combining to revive global inflation fears. • The ECB raised rates a quarter point to fight energy-driven inflation, diverging from the global easing trend just as the oil spike threatens to make that job harder. • Nvidia's CEO guided to 70% growth next year and Oracle's cloud revenue beat estimates — reinforcing the AI infrastructure investment cycle underpinning mega-cap tech valuations.