Posted 10/25/2023, 9:33:00 AM
Economist Warns Middle East War Could Spike Oil Prices and Stocks, While Microsoft Profits From AI
- War in Middle East could cause recession, $150 oil, 20% stock drop according to economist
- Companies must now factor geopolitical risk into forecasts beyond just economic growth
- "Reshoring" and "nearshoring" can provide some protection but can't escape global impact
- Foreign carmakers struggling in China amid competition from domestic brands
- Microsoft earnings beat estimates as AI investments pay off, revenue up 13%
