Trending Market News

U.S.-Iran hostilities have resumed with 10 consecutive nights of U.S. strikes on Iranian targets, severely disrupting oil shipping through the Strait of Hormuz. Traffic through the critical waterway has plunged from over 100 ships daily to just 30 over the weekend, sending Brent crude above $90 per barrel. The conflict threatens to escalate further as Houthi militants have declared attacks on Saudi shipping, potentially closing a second critical chokepoint.

• Shipping through the Strait of Hormuz, which handles 20.3 million barrels daily (25% of global seaborne oil trade), has dropped 70% since hostilities resumed on July 10, 2026
• Qatar and Pakistan proposed a 10-day ceasefire, but risks are mounting as Houthis threaten the Bab el-Mandeb Strait, which could block Saudi Arabia's alternative export route and trigger triple-digit oil prices
• Iran retains capability to retaliate despite U.S. strikes, having recently killed American personnel at regional bases and attacked commercial vessels including a Greek-operated ship in Hormuz

Novartis reported second-quarter core operating profit of $5.94 billion, exceeding analyst expectations of $5.31 billion, driven by strong sales of cancer and multiple sclerosis drugs. The Swiss drugmaker is navigating a challenging period of patent expiries, particularly for its top-selling heart failure drug Entresto, which accounted for 14% of total sales last year.

• Q2 core operating income reached $5.94 billion, beating analyst forecasts of $5.31 billion
• Novartis has a market capitalization of $315 billion and is facing its most severe period of patent expiries
• Entresto, the company's top-selling heart failure drug, represented 14% of total net sales in the previous year and is now facing generic competition

General Motors is reporting its second-quarter earnings on Tuesday, with Wall Street expecting significant year-over-year growth. Analysts anticipate adjusted earnings per share and revenue of $47.01 billion, representing over 26% earnings growth compared to the prior year. Investors will focus on tariff impacts, vehicle pricing, and commodity costs including DRAM chips.

• GM raised its adjusted earnings guidance in April to $13.5-$15.5 billion (or $11.50-$13.50 per share) after incorporating a $500 million tariff rebate
• Barclays expects both GM and Ford to beat earnings estimates for Q2 with potential guidance raises, citing strong macro conditions and stable pricing
• The company's Q2 2025 results included $47.12 billion in revenue, $1.9 billion in net income, and $3.04 billion in adjusted EBIT

Samsung Electronics announced the creation of a new robotics division called RX (Robotics eXperience) that will report directly to the CEO. The division aims to accelerate robotics development and commercialization to establish robotics as a key growth engine for the South Korean tech giant.

• The RX division will oversee Samsung's mid-to-long-term robotics strategy, core technology development, and business execution
• Samsung plans to expand its robotics research capabilities both domestically in South Korea and internationally
• The division reports directly to the chief executive, signaling the strategic importance Samsung places on robotics for future growth

Cardinal Health announced on Monday it will acquire AdaptHealth's diabetes health business and medical supply provider Strive Medical for approximately $360 million total. The acquisitions expand Cardinal Health's at-Home Solutions business, adding continuous glucose monitors, insulin pumps, and urology care supplies to its portfolio. The deals are expected to be accretive to adjusted earnings per share.

• AdaptHealth's diabetes unit sold for $235 million in cash, providing direct-to-patient platform for diabetes supplies including continuous glucose monitors and insulin pumps
• Strive Medical serves over 20,000 people annually, specializing in urology, wound care, ostomy and adult care supplies
• Analyst noted acquisitions are strategic but the diabetes business will need operational improvements to restore growth and profitability, which Cardinal's scale should help execute

Samsung Electronics launched its first U.S. co-branded credit card with Barclays on July 20, the Samsung Galaxy Card, marking the company's expansion into American financial services. The card integrates with Samsung Wallet for full account management and offers 5% cash back on Samsung purchases, putting Samsung in direct competition with Apple in the payments space.

• The card is issued by Barclays, runs on Visa's network, and can be managed entirely through Samsung Wallet, targeting seamless mobile payments as 70% of U.S. households own Samsung devices
• Samsung and Barclays executives indicated this is a 'strategic and long-term relationship' with plans to explore additional financial products beyond credit cards
• The launch intensifies competition in the digital wallet and financial services space, as tech companies and banks race to make smartphones the primary device for payments and money management

A federal judge in Maryland dismissed a proposed class-action lawsuit against Capital One that alleged the bank charged excessive credit card interest rates. The plaintiff claimed federal law prohibited Capital One from charging rates above Virginia's 6% maximum, but the court rejected this argument.

• U.S. District Judge Theodore Chuang ruled in favor of Capital One, dismissing claims brought by plaintiff Lynn Strange
• The lawsuit alleged Capital One violated federal law by charging annual interest rates exceeding Virginia's 6% state maximum
• The dismissal allows Capital One to continue its current credit card interest rate practices without legal constraint from this challenge

Chevron is shutting down production at its Petronius platform in the U.S. Gulf of Mexico and evacuating personnel ahead of a tropical system that could become Tropical Storm Bertha. Consulting firm Earth Science Associates estimates the storm could result in losses of about 2 million barrels of oil across the U.S. Gulf through its duration. The U.S. Gulf offshore region produces nearly 2 million barrels of crude oil per day, accounting for roughly 14% of total U.S. crude output.

• Chevron is shutting-in the Petronius facility and moving all personnel onshore, while also removing nonessential workers from Tubular Bells and Blind Faith platforms
• Projected oil production losses of 2 million barrels are significantly higher than the 10,000 barrels impacted by a storm last month, due to more high-production platforms in this storm's path
• The Gulf region's refining corridor from Corpus Christi, Texas to Pascagoula, Mississippi holds about half of total U.S. refining capacity of 18.4 million barrels per day

President Trump signed an executive order on July 20 making it significantly harder for U.S. defense contractors to obtain waivers that allow purchasing critical minerals and materials from China and other prohibited foreign suppliers. The order requires contractors to prove they searched for alternatives and develop plans to shift away from foreign sources, or risk losing contracts. This is part of a broader effort to reduce U.S. weapons production dependence on overseas supply chains, particularly from China.

• Defense contractors must now demonstrate extensive searches for alternatives and provide detailed sourcing plans, rather than simply showing Chinese suppliers are cheapest or easiest options
• The Pentagon will require contractors to map entire supply chains from raw materials to finished products, identifying origins of minerals, components, and software across all supplier tiers
• The order affects major contractors like Lockheed Martin and Boeing, who face pressure to expand weapons production while many critical minerals and processed materials for missiles and aircraft still rely on Chinese suppliers

A California-led coalition of 12 states secured a temporary halt to Paramount's $110 billion acquisition of Warner Bros. Discovery, arguing the merger would harm competition in film and television. The injunction prevents Paramount from cutting jobs and sharing sensitive information with Warner Bros. while courts assess whether the deal violates antitrust law.

• The states argue the merger would create a media behemoth with power to raise prices and that integration actions like job cuts would be difficult to reverse if the deal is later deemed illegal
• The lawsuit threatens Paramount CEO David Ellison's strategy to transform the company into a major rival of Netflix and Disney through the $110 billion acquisition
• Paramount contends the lawsuit distorts antitrust law and claims the delay harms entertainment workers who have already endured years of industry disruption

Oil transfers between tankers in the Gulf of Oman have slowed significantly following recent Iranian attacks on vessels, threatening the flow of energy exports through the Strait of Hormuz. Since late February, ship-to-ship transfers enabled oil to bypass the strait, but satellite data shows activity dropped from three vessel pairs on July 11 to just one on July 18. The U.S. Energy Secretary maintains Washington will continue ensuring traffic through the strait despite the security concerns.

• Daily supertanker sailings through the Strait of Hormuz fell to two per day in the past week, down from five the previous week and eight in late June/early July, with each tanker carrying up to 2 million barrels
• Some shipping companies are now avoiding the U.S. military-guided transit scheme after Iranian Revolutionary Guards attacked and immobilized two oil tankers attempting to transit the strait
• U.S. claims current flow is nearly 14 million barrels per day (including bypass pipelines), representing two-thirds of pre-conflict traffic and a significant increase from March levels

Coca-Cola has appointed JPMorgan and Citi as lead bankers for a planned 2027 IPO of its Indian bottling unit, Hindustan Coca-Cola Holdings, in which it holds a 60% stake. The move is part of a broader trend of global companies tapping India's equity markets to monetize investments, attracted by higher valuations compared to other markets.

• Hindustan Coca-Cola Holdings operates 14 bottling plants across 10 Indian states and generated $1.32 billion in revenue with $36 million net profit in 2023
• Kotak and Morgan Stanley were also reportedly appointed as bankers on the IPO, following pitches to Coca-Cola in London earlier this month
• The IPO follows similar moves by Hyundai Motor and LG Electronics to pursue stake sales via Indian IPOs rather than raising fresh capital, driven by India's relatively richer market valuations

Tempus AI announced it will acquire Personalis for approximately $1.5 billion. The deal will bring Personalis's cancer testing capabilities into Tempus's AI-enabled precision medicine oncology portfolio, expanding the company's offerings in cancer diagnostics and treatment.

• The acquisition is valued at about $1.5 billion
• Personalis's cancer test will be integrated into Tempus's AI-enabled precision medicine platform focused on oncology
• The deal strengthens Tempus's position in the precision oncology and AI-driven healthcare diagnostics market

A CNBC poll found 49% of U.S. voters believe it is inappropriate for the federal government to take ownership stakes in private companies, while only 19% approve. The Trump administration has negotiated equity positions in dozens of firms, including a 10% stake in Intel worth $42 billion, as part of national security and economic strategy efforts that have drawn concern from Senate Republicans.

• The U.S. government took a 10% stake in Intel in exchange for $8.9 billion in grants; that stake has grown 372% and was worth $42 billion as of Thursday's close
• Democrats show stronger opposition (66% find it inappropriate) compared to Republicans (34%), though even self-identified MAGA Republicans are evenly split at 31% for and 31% against
• Senate Republicans including Jon Husted are urging caution and have proposed legislation limiting government equity stakes to eight years maximum, citing concerns about permanent government involvement in private companies

Ryanair CEO Michael O'Leary stated that preliminary findings from an investigation into an incident where a passenger was partially sucked out of a Boeing 737's broken window point to foreign object damage to the engine during takeoff at Thessaloniki. O'Leary made the comments while presenting quarterly results, noting that a draft report is expected in approximately 28 days.

• Initial investigation suggests foreign object damage to the engine occurred during takeoff at Thessaloniki airport
• The incident involved a passenger being partly sucked out of a broken window on a Boeing 737 aircraft
• A draft report on the incident is expected in about 28 days, with a more detailed report to follow

PayPal is facing a $53 billion takeover bid from Stripe and Advent International that its board considers inadequate. Once a Wall Street favorite and digital payments pioneer, the company has lost ground to competitors like Apple Pay, suffered from slow innovation, and cycled through three CEOs in four years. The situation raises questions about whether PayPal is worth more as a single entity or broken into parts.

• PayPal's stock has plunged over five years as Apple Pay captured dominant U.S. market share and the company fell behind rivals in adopting AI, digital banking, and new payment methods
• The board is debating the $60.50 per share offer, with some directors questioning whether it justifies opening negotiations given turnaround plans, though analysts believe Stripe and Advent can pay more with $50 billion in bank financing secured
• Competing bids appear unlikely, and analysts suggest PayPal's 400 million consumer accounts and assets like Venmo might be worth more sold separately, as growth has stalled across key business segments

The Caspian Pipeline Consortium (CPC) suspended oil loadings again after a Ukrainian drone struck the tanker NELSA at its terminal near Novorossiysk, Russia. The pipeline exports nearly 2% of global oil, primarily from Kazakhstan, and the closure adds uncertainty to oil markets already stressed by tensions involving the Strait of Hormuz.

• The NELSA tanker was hit on the starboard side, causing a fire that was extinguished with no oil spill; 20 of 22 crew members were evacuated while the vessel remained afloat
• CPC had only briefly resumed loadings after suspending them due to Sunday's drone attacks on two other tankers at the terminal
• The 940-mile pipeline accounts for about 80% of Kazakhstan's oil exports and transported 1.699 million barrels per day in June, down 7% from May

U.S. Treasury yields edged higher on Monday as investors monitored escalating Middle East tensions, with the 10-year note yield rising over 1 basis point to 4.558%. The increases came as the U.S. Central Command completed its ninth consecutive evening of strikes against Iranian military targets, while Tehran retaliated with attacks across the Gulf region.

• The 10-year Treasury yield increased to 4.558%, while the 30-year yield rose to 5.078%; the 2-year yield tracking Fed policy remained largely flat at 4.181%
• U.S. strikes targeted Iranian military command centers, air defense systems, and missile sites to diminish Tehran's ability to attack commercial vessels in the Strait of Hormuz
• Treasury yields had eased last week following cooler-than-expected inflation data and lower jobless claims of 208,000, indicating the economy continues to withstand inflationary pressures from the Iran conflict

Saudi Arabia's Riyadh Air ordered 34 widebody aircraft from Boeing and Airbus at the Farnborough Airshow, expanding its fleet as part of an ambitious plan to serve over 100 destinations by 2030. The order includes 28 Boeing 787 aircraft (20 converted to the larger 787-10 variant) and 6 Airbus A350-1000s, bringing total A350 orders to 31. Backed by the kingdom's sovereign wealth fund, the airline is central to Saudi Arabia's Vision 2030 economic diversification strategy.

• Riyadh Air currently operates 6 Boeing 787-9 aircraft serving 6 cities, having launched several new routes since June 2025
• The airline exercised options for 28 Boeing 787s from a 2023 order and confirmed 6 Airbus A350-1000 purchases, totaling 31 confirmed A350 orders
• The expansion aims to establish Riyadh as a major aviation hub competing with larger Middle Eastern rivals, supporting Saudi Arabia's economic diversification beyond oil under Vision 2030

British warehouse landlord Segro has rejected a second sweetened takeover offer from U.S. logistics giant Prologis valued at £13.5 billion ($18.18 billion). The rejection marks the second time Segro has turned down an improved bid from Prologis, signaling resistance to the proposed acquisition.

• Prologis made a second improved offer valuing Segro at £13.5 billion ($18.18 billion), which was rejected by the British company
• This is the second sweetened proposal from the U.S. logistics giant to be turned down by Segro
• The deal would have created a major consolidation in the warehouse and logistics real estate sector