SGood morning — it's Wednesday, six a.m., and this is the Morning Brief.
SWe start in Israel, where the overnight election came back deadlocked.
SReuters posted on X — Netanyahu's right-wing bloc and Eisenkot's opposition bloc both missed 61 seats.
ESo both men are claiming they can form the next government.
SNetanyahu says he has the mandate; Eisenkot says the same.
EThey can't both be right... 61 is the majority line in the Knesset.
SExactly. Without it, either side needs partners, and the math isn't there yet.
EThis means coalition talks, and if those fail, another election.
SIn Israel, that's not exactly a rare outcome.
EThe bigger question is who can actually assemble a majority.
SNetanyahu's been here before — he's survived deadlocks before.
ESurvived, yes. But every deadlock makes his path harder.
SEisenkot is a former military chief, running a security-first pitch.
EThat resonates after the last year. It doesn't get him to 61.
SSo we wait. Again.
EDifferent world entirely: Gulf stocks slid overnight.
EReuters says the move came after reports of an attack on Saudi Arabia's Ras Tanura refinery.
SThat's a major Aramco terminal. If true, oil jumps.
EAnd that fear alone is enough to move crude.
SBut "reports" is doing a lot of work there. No official confirmation yet.
EFair. Traders remember the 2019 Saudi oil attack. This market is twitchy.
SThe Ras Tanura facility handles a huge share of Saudi crude exports.
EIf there was a hit, it's a direct threat to global supply.
SAnd right now, no one has claimed responsibility.
EThat can be its own signal. Or it can be noise.
SWatch crude at the U.S. open. If it holds, gas prices feel it.
EQuick market check: Kalshi Finance posted the Dow fell 652 points Tuesday.
SThat's a big drop. They also claim nearly three out of four S&P 500 stocks closed lower.
EIf that's right, it was a broad sell-off.
SWe haven't verified those exact figures, but that's the claim being shared.
ETech supposedly steadied. Micron up two and a half percent.
SSmall comfort if your index fund got hit on a Tuesday.