The Middle East situation remains volatile, but the market reaction has become more muted, with investors shifting their focus to tech stocks

BlockBeats News, June 29th. Over the weekend, the United States once again targeted Iranian military objectives, while Iran launched attacks on ships near the Strait of Hormuz and fired missiles and drones towards Kuwait and Bahrain. This temporarily halted US-Iran ceasefire negotiations. However, both sides later agreed to cease hostilities and continue advancing technical discussions on the ceasefire Memorandum of Understanding (MOU).

Due to the situation, international oil prices saw a slight increase, with Brent crude and WTI crude rising to around $72.31 and $69.82, respectively. However, the overall global financial market response was limited, as investors' focus gradually shifted towards the tech sector recovery.

The AI computing power demand continues to drive the ongoing shortage of storage chips. Large tech companies such as Apple and Microsoft can manage costs by raising prices, while some small and medium-sized enterprises face greater pressure. Meanwhile, SpaceX is poised to become one of the fastest companies ever to join the Nasdaq 100 index.