Middle East tensions spike oil prices while US stocks hold steady; Pakistan's central bank strengthens reserves as telecom sector seeks relief; tech sector faces mixed signals with AI investments and layoffs.

Iran-US military escalation in the Persian Gulf traps approximately 1,500 ships in the Strait of Hormuz, disrupting global shipping and energy markets as tensions over a tanker attack intensify.

Oil futures rise following US-Iran military exchange, while Treasury yields remain elevated due to geopolitical risks, inflation concerns, and energy price pressures affecting longer-duration borrowing costs.

Wall Street stocks hold near record levels as markets price in hopes for a US-Iran peace deal, with oil prices retreating on expectations of reduced Middle East conflict.

Pakistan's State Bank foreign reserves increase by $23 million to $15.85 billion, bringing total liquid reserves to $21.29 billion amid broader economic stabilization efforts.

Pakistan's telecom industry demands tax cuts and duty relief to accelerate 4G and 5G rollout, citing that 30% of the population still lacks 4G coverage.

Federal Court of Canada strikes down Pakistan's section 7E deemed income tax framework, voiding property-based taxation on assets exceeding Rs25 million across all high courts.

Cloudflare stock falls despite announcing 20% staff cuts as part of AI strategy, with investors skeptical of the company's claim that layoffs are not cost-cutting but a restructuring bet on artificial intelligence.

CoreWeave shares plunge 9% in after-hours trading as revenue doubles but margin pressures and lower-than-expected guidance concern investors in the competitive AI infrastructure sector.

Rocket Lab's stock rises on expanding business momentum, reporting more launch contracts last quarter than all of 2024, signaling growth in the commercial space sector.

Pakistan's government pursues enhanced bank foreclosure powers for housing loan defaults through draft legislation, introducing a 90-day notice system amid concerns over borrower protections.