A quiet assumption that kept global energy markets somewhat stable has just shattered, as Houthi militants expand their Red Sea threats to Asian-bound tankers. Meanwhile, Super Micro Computer's surprise $60 billion backlog reveals exactly who holds the leverage in the ongoing physical build-out of artificial intelligence.

• Saudi Arabian oil tankers bound for China and India execute sudden U-turns, signaling an indiscriminate Red Sea threat that could spike global inflation.

• Super Micro Computer stuns Wall Street with 15-17% profit margins and a $60B backlog, proving the AI hardware boom is running at full throttle.

• Tech stocks lead a massive market rebound, with the Nasdaq climbing 1.3% and Brent crude oil topping $91 a barrel.

• Alphabet and ServiceNow prepare to report earnings, with investors hyper-focused o ...