What's affecting the markets this hour

Markets are reacting to a mix of geopolitical tensions and shifting economic signals. Rising oil prices and renewed U.S.-Iran war fears are fueling worries about inflation and consumer spending. At the same time, companies building energy infrastructure for AI are gaining attention as demand for computing power surges. The uncertainty is weighing on investor confidence, with stock-index futures falling and volatility spiking in some global markets. In the U.S., Walmart and Target are already seeing shifts in customer behavior as gas prices climb, and the Federal Reserve’s next moves remain a key unknown. Meanwhile, some sectors are showing strength, including energy and pharmaceuticals, where earnings reports and strategic moves are catching investors' eyes.