Stocks Rise on Softer Inflation and Bank Results While Oil Prices Climb on Iran-UAE Tensions

MSCI's global index climbed on softer-than-expected U.S. inflation data and strong bank earnings, amid rising tensions between Iran and the UAE, which pushed oil prices higher. U.S. crude rose 1.5%, while Brent gained 1.7%. Major banks like JPMorgan Chase reported record profits, while IBM shares fell 25% due to shifting corporate spending trends. Strategist Tim Ghriskey noted, 'Markets are reacting cautiously, but the long-term impact of Iran-UAE tensions remains uncertain.' With inflation data below expectations, speculation is growing about the ECB's next interest rate decision.