Evening digest: Oil jumps, Disney layoffs as Intel extends AI deal
Global markets and corporate developments remained in focus on Thursday, with Donald Trump expressing optimism over a potential Iran peace deal even as ceasefire tensions persisted, oil prices rebounding on renewed supply concerns, The Walt Disney Company preparing fresh layoffs amid restructuring, and Intel extending its partnership with Google to advance AI infrastructure.
Trump signals optimism, but ceasefire strains persist
President Donald Trump said he was “very optimistic” that a peace deal with Iran was within reach, as a US delegation led by JD Vance prepared for high-stakes talks in Islamabad aimed at ending the nearly six-week conflict.
“Iran’s leaders talk much differently when you’re at a meeting than they do to the press. They’re much more reasonable,” Trump said, adding: “They’re agreeing to all the things that they have to agree to.”
However, the fragile ceasefire has already shown signs of strain. Israeli strikes on Lebanon have continued, while Iran insists such actions violate the agreement.
Trump acknowledged speaking with Benjamin Netanyahu, saying Israel would “low-key it” to support negotiations.
Tensions remain elevated, with Iran warning that continued attacks could derail talks.
Meanwhile, traffic through the Strait of Hormuz remains minimal, raising concerns over whether Iran will fully reopen the critical trade route.
Oil prices rebound on ceasefire doubts
Oil markets reacted to the uncertainty, with West Texas Intermediate briefly reclaiming $100 per barrel before easing, while Brent crude rose above $99.
The rebound follows a sharp selloff in the previous session, when optimism around the ceasefire pushed prices lower.
However, renewed concerns over disruptions in the Strait of Hormuz—through which roughly 20% of global oil supply flows—have tightened the outlook.
Analysts at Wood Mackenzie said disruptions could affect the recovery of 11 million barrels per day of upstream production in the Middle East.
Meanwhile, ANZ noted that supply shocks have shifted the global oil market from surplus to deficit.
Gold and silver prices also rose, supported by a weaker US dollar, while base metals were mixed, reflecting cautious sentiment across commodity markets.
Disney plans fresh layoffs
The Walt Disney Company is preparing to cut up to 1,000 jobs in the coming weeks as part of a broader restructuring effort under CEO Josh D’Amaro, the Wall Street Journal reported.
The layoffs, which were reportedly planned before D’Amaro formally assumed the role, are expected to impact multiple divisions, particularly the recently consolidated marketing unit.
The move reflects ongoing pressures in the entertainment industry, as companies adapt to lower profitability in streaming compared to traditional television, softer box office revenues, and intensifying competition from platforms like Amazon and YouTube.
Disney has already cut more than 8,000 jobs since Bob Iger returned in 2022.
The company is also integrating Disney+ and Hulu and working with Bain & Company to streamline operations under its “Project Imagine” initiative.
Intel expands Google AI partnership
Shares of Intel extended gains for a seventh straight session after announcing an expanded collaboration with Google to develop next-generation processors for AI data centers.
The stock rose about 3%, bringing its seven-session gain to 47.5% and positioning it for its strongest streak since September 2023.
Under the multiyear agreement, Intel will supply “multiple generations” of its Xeon data-center CPUs, with Google continuing to deploy the chips across inference and general-purpose workloads.
The partnership will also expand co-development of infrastructure processing units (IPUs), designed to improve efficiency in hyperscale AI environments.
The deal underscores a broader industry shift toward AI inference, driving renewed demand for general-purpose computing chips and reinforcing Intel’s role in the evolving AI ecosystem.
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