Morning Business Report: Markets react to Middle East tensions, corporate moves and new product launches

Investors are closely watching developments in the Middle East, as mixed signals from the U.S. and Iran continue to impact global markets.

(LILAMAX)- Investors are closely watching developments in the Middle East, as mixed signals from the U.S. and Iran continue to impact global markets. Donald Trump has extended his deadline to strike Iran’s energy infrastructure by 10 days, now set for April 6, in an effort to allow more time for negotiations. Meanwhile, oil prices are on track for their biggest weekly losses since early December.

In corporate news, shares of Brown-Forman surged following reports that French beverage giant Pernod Ricard is considering a potential acquisition. The move comes as alcohol companies look to consolidate amid a broader industry slowdown.

Stocks faced pressure Thursday due to a combination of geopolitical and legal developments. Markets reacted to Iran rejecting a U.S. peace proposal, as well as a landmark jury verdict against Meta Platforms and Google, which found the companies negligent in protecting minors on their platforms.

In the auto sector, Infiniti unveiled its new QX65, a midsize luxury SUV expected to compete with other premium vehicles at a relatively lower starting price point. The vehicle will be built in Tennessee and is seen as a key step in the brand’s push toward innovation and U.S.-based manufacturing.

Meanwhile, Costco is entering the energy drink market with its new Kirkland sparkling energy beverage. The drink contains 200 milligrams of caffeine per 12-ounce can — similar to competitors like Celsius — and is priced at around 70 cents per can, significantly undercutting many rivals.