Aramco Headquarters Hit as Markets Brace for Inflation Data

U.S. stock futures moved with uncertainty on Wednesday as investors waited for new inflation data and major bank earnings. The market is looking for clear signals on the direction of interest rates and the health of the financial sector. In a major escalation, Iran-backed Houthi forces launched attacks across Saudi Arabia, striking the headquarters of Saudi Aramco. The attack raises new concerns about regional stability and global energy supplies. In Europe, Russia continued its strikes on Ukrainian energy facilities, adding further pressure to already strained energy markets. Meanwhile, chip equipment maker ASML raised its sales outlook but warned it may not be able to meet soaring demand for artificial intelligence (AI) chips in 2027 and 2028. AI refers to computer systems that can perform tasks normally requiring human intelligence. Investors are also preparing for earnings reports from Bank of America and Morgan Stanley. Stephen Biggar of Argus Research will break down the results. Later, Christopher Hodge of Natixis will join "Bloomberg Brief" to discuss the inflation report. Jerek Kutylowski of DeepL will also speak to Bloomberg's Tom Mackenzie at the International AI Summit in Dublin.