摩根士丹利指出，亞馬遜、Alphabet、微軟、Meta和甲骨文等大型超大規模雲廠商的綜合增量投入資本回報率（ROIIC），預計將在2027年第三季度觸底，降至約23%。根據市場一致預期，該指標在觸底後將穩步回升，到2030年反彈至約35%。 核心含義是： 當前AI數據中心和算力基礎設施的大規模資本開支，可能在未來幾年階段性壓低新增資本的回報效率，但市場一致預期並不認爲這種壓力會長期持續。隨着AI相關投資逐漸轉化爲收入和利潤，超大規模雲廠商的新增資本回報率預計將在2027年後重新改善。

化工期貨主力合約日內集體下跌，短纖、乙二醇、瓶片、苯乙烯跌超2%，甲醇跌近2%，塑料、丙烯、丁二烯膠、對二甲苯、聚丙烯、PTA、純苯跌超1%。

Dutch TTF and UK NBP wholesale gas prices fell more than 6% to three-week lows on Tuesday. The move followed Iran saying it could quickly reopen the Strait of Hormuz if the United States eases military pressure. Prices had already retreated on Monday amid renewed diplomatic expectations, leaving a roughly 12% week-to-date decline. Rasmussen, chief analyst at a global risk firm, said markets are focused on an upcoming UN meeting and the prospect of US‑Iran talks, but added direct talks are unconfirmed and any deal would likely require substantial US concessions that may be politically difficult ahead of the election. A trader said weather and Asian demand will be the key drivers over the next month, with the threshold for demand disruption likely to determine price direction.