Trump Threats Spark Oil Price Bump as Tech Stocks Shine

U.S. stocks were mixed on Monday, with tech shares driving the Nasdaq Composite to nearly flat levels despite President Donald Trump's threat of military action against Oman.

The tech sector was buoyed by a report that Anthropic, an AI company backed by Amazon, had informed potential investors its second-quarter revenue grew at least 14-fold from a year earlier, surpassing $11.5 billion.

Anthropic's news sparked buying interest in AI-related sectors, with seven of the top ten intraday performers among companies with market capitalizations exceeding $200 billion coming from the technology sector.

The Strait of Hormuz shipping security situation remains a concern, as approximately one-fifth of global oil consumption passes through the strait. If the conflict escalates and disrupts passage, it could drive up global oil prices and intensify inflationary pressures.