CNBC Daily Open: Sanctions, strikes and the road to $100 oil
Washington says economic pressure will help bring its war with Iran to an end. But the missiles still seem to be flying.
TL;DR
- U.S. forces destroyed five Iranian crude carriers after Iran targeted a U.S. warship.
- The U.S. Treasury sanctioned 27 Iranian airlines.
- Iran's attacks in the Strait of Hormuz are increasing pressure on global energy prices, pushing oil towards $100 a barrel.
- Canada implemented retaliatory tariffs on U.S. goods following U.S. tariffs on Canadian products.
- New infrastructure deals from Qualcomm and Corning, involving Amazon Web Services and Verizon respectively, have boosted AI stocks.
- Chinese companies Huawei and Xiaomi have released new foldable phones, aiming to compete with Apple's rumored foldable iPhone.