Trending Market News

Options traders are betting on a positive earnings report for Netflix ahead of Thursday's quarterly results, despite the stock falling 20% year-to-date and declining after its last four earnings reports. Call option volumes doubled put volumes in recent sessions, with traders also selling at-the-money puts, signaling bullish sentiment as the stock trades around $75.

• Options pricing implies a 7.6% post-earnings move versus a 7.4% average realized move over the past year, with Netflix trading near its $70-75 support level from late 2021
• The most popular trade Monday was selling the 75-strike put expiring Friday, with one large trader collecting nearly $150,000 by selling 500 contracts
• Analysts cite lack of a major breakout hit this year and note that new ad-supported subscribers likely watch less content than traditional ad-free users, contributing to lower engagement per subscriber

Shein's Executive Chairman Donald Tang will step down from his role after leading the company's three-year effort to go public, retreating to a senior advisory position as the fast-fashion retailer nears completion of its Hong Kong IPO. Tang, a Chinese-American billionaire, served as the Western proxy for founder Sky Xu, managing relationships with global politicians and regulators. His departure raises questions about who will assume the public-facing leadership role going forward.

• Tang's initial mission was a New York IPO, but after failures in both the U.S. and London, Shein pivoted to Hong Kong after receiving approval from Chinese regulators
• The executive faced multiple challenges including defending against forced labor allegations, lobbying on customs duty waivers, and managing regulatory crackdowns after illegal products (including child-like sex dolls) were found on Shein's marketplace
• Founder Sky Xu, rather than Tang, is expected to lead the investor roadshow ahead of the listing, with no fixed timetable set for Tang's transition to advisory role

Two Irish aircraft lessors have requested deregistration of four Boeing 737 MAX jets currently leased to Indian airline SpiceJet, according to documents from India's aviation regulator released on July 13. The move typically signals lease payment disputes or defaults. SpiceJet has not yet commented on the situation.

• The deregistration request involves four Boeing 737 MAX aircraft owned by Irish lessors
• Deregistration requests typically occur when airlines fall behind on lease payments or breach lease agreements
• SpiceJet did not immediately respond to requests for comment on the matter

Democratic Senator Elizabeth Warren has questioned JPMorgan CEO Jamie Dimon about whether he lobbied the UK government against a tax on bankers' bonuses based on advice from Jeffrey Epstein. The inquiry follows the release of Justice Department documents earlier this year that revealed connections between high-profile figures and the late convicted sex offender. JPMorgan denied Dimon ever met with or took counsel from Epstein, stating the bank ended its relationship with him in 2013.

• Warren, the top Democrat on the Senate banking committee, sent a letter requesting documents detailing communications between JPMorgan employees, Epstein, and UK officials
• JPMorgan paid approximately $290 million in 2023 to settle a class action lawsuit by Epstein's victims, though the bank maintained it exited him as a client years before his federal sex trafficking arrest
• Epstein was a JPMorgan client from 1998 to 2013, years after he pleaded guilty to prostitution-related charges

Multiple state attorneys general, including California's Rob Bonta, are expected to file an antitrust lawsuit as soon as Monday to block the proposed Paramount-Skydance acquisition of Warner Bros. Discovery. The challenge comes despite the U.S. Department of Justice already approving the merger in mid-June, along with several global jurisdictions.

• The merger would combine two major film studios and create the largest U.S. TV network portfolio, including CBS, MTV, BET, CNN, and TNT, plus unified streaming platforms
• The deal is valued at $31 per share for WBD and is expected to close by September, though the European Union is still reviewing with a provisional deadline of July 22
• Hollywood has raised concerns about fewer film releases and potential job losses, though Skydance's Ellison has committed to protecting jobs

The FAA completed its investigation into a SpaceX Starship booster failure from a May test flight, authorizing the company to proceed with its next launch from Texas as early as this week. The review closure removes regulatory obstacles for Elon Musk's space company to continue testing its Starship rocket system.

• The investigation focused on a booster return failure that occurred during SpaceX's May test flight
• SpaceX can now launch the next Starship test flight from Texas as soon as this week following the regulatory clearance
• The FAA's swift review completion enables SpaceX to maintain momentum in its Starship development program

Mylan Inc plans to sell up to 92 million shares of Indian pharmaceutical company Biocon, valued at approximately $363 million (34.81 billion Indian rupees). The stake sale represents a significant divestment by Mylan in one of India's leading biotechnology firms.

• The sale involves up to 92 million Biocon shares at a total value of 34.81 billion Indian rupees
• The transaction is valued at approximately $363 million based on an exchange rate of 95.62 rupees per dollar
• Details were disclosed in a term sheet reviewed by Reuters, indicating the deal structure is already formalized

Global smartphone shipments fell 11% in Q2 2025 to a 13-year low, driven by a memory chip shortage that raised device prices and weakened consumer demand. Apple increased shipments by 3% while competitors declined, with the shortage expected to persist into 2027 and annual shipments projected to drop 14% for the full year.

• Memory chip prices climbed as suppliers prioritized AI data center customers over consumer electronics, forcing manufacturers to raise prices especially on entry- and mid-range devices
• Samsung reclaimed the top market position with 24% share, while Xiaomi, Oppo, and Vivo saw the steepest declines due to greater exposure to budget and mid-tier segments
• The memory shortage is expected to continue into 2027, with global smartphone shipments forecast to decline approximately 14% for the full year 2025

Air Canada announced a tentative four-year collective agreement with the International Association of Machinists and Aerospace Workers (IAMAW) union representing approximately 11,000 employees in technical operations, airports, cargo, logistics, and supply roles. The agreement, pending union ratification, would run from April 2026 through March 2030 and marks the sixth collective agreement reached by Air Canada this year.

• The agreement covers 11,000 workers across technical operations, airports, cargo, logistics and supply divisions
• If ratified, the four-year deal takes effect April 1, 2026 and runs until March 31, 2030
• This would be Air Canada's sixth collective agreement concluded in 2025, indicating active labor negotiations across multiple employee groups

British supermarket chain Morrisons is reportedly negotiating a £600 million ($803 million) real estate deal with multiple parties, including U.S.-based Realty Income. The talks were reported by Sky News citing industry sources, though Reuters could not immediately verify the information.

• The deal is valued at £600 million (approximately $803 million) and involves Morrisons' real estate assets
• U.S.-based Realty Income is among the potential parties in discussions with Morrisons
• The report remains unverified by Reuters as negotiations are ongoing

The European Commission will propose regulations to limit children's access to social media platforms after summer, President Ursula von der Leyen announced on July 13. The initiative aims to protect children's development and give them more time in the real world before algorithms influence their identity formation. The proposal reframes the issue as controlling when social media companies can access children, rather than restricting children's access.

• Von der Leyen emphasized children need real-world time to play, build friendships, and develop their own identity before algorithms shape them
• The proposal shifts focus from limiting children's access to regulating when and whether social media platforms can access children
• The legislation is expected to be presented after the summer months, though specific age limits or enforcement mechanisms were not disclosed

Stellantis reported a 10% year-over-year increase in Q2 vehicle shipments to nearly 1.6 million units, driven primarily by a 38% surge in North America to 445,000 units. The automaker's growth was supported by new and refreshed models including Ram trucks and Jeep vehicles, though gains were partially offset by weaker performance in the Middle East, Africa, and South America.

• North America shipments jumped 38% to 445,000 units, boosted by new Ram 1500 8-cylinder trucks, TRX SRT versions, and refreshed Jeep Grand Wagoneer and Grand Cherokee models
• Enlarged Europe region grew 5% to 762,000 units, including 33,000 vehicles from Chinese partner Leapmotor, with strong demand for budget models like Citroen C3 and Fiat Panda
• Growth was partially offset by lower volumes in Middle East and Africa due to regional conflict, and in South America due to weak Argentine market performance

Tata Consultancy Services (TCS), India's leading software services firm, has won a multi-million dollar contract from Swiss-Swedish industrial technology company ABB. TCS will design and operate ABB's global network ecosystem as an AI-driven service and provide cybersecurity solutions. The deal extends a 20-year partnership between the two companies.

• TCS will manage ABB's global network infrastructure using AI-driven services and cybersecurity offerings, though financial terms and contract duration were not disclosed
• The agreement builds on a two-decade partnership where TCS previously consolidated ABB's multiple accounting software systems into a single SAP platform
• This contract reinforces TCS's position as a major global IT services provider capable of handling complex, large-scale digital transformation projects for industrial clients

TSMC, the world's largest contract chipmaker, reported second-quarter revenue of $39.63 billion (1.27 trillion Taiwan dollars), exceeding analyst expectations and rising 36% year-over-year. The strong performance was driven by surging demand for artificial intelligence applications, benefiting major customers including Nvidia and Apple.

• Q2 revenue reached 1.27 trillion Taiwan dollars, beating the LSEG SmartEstimate consensus of 1.264 trillion from 20 analysts
• Revenue grew 36% compared to the same quarter last year, fueled by AI application demand
• TSMC serves as a major chip supplier to leading tech companies including Nvidia and Apple

Nippon Paint has submitted multiple bids for Akzo Nobel's decorative paints business over the past month, with the latest offer valuing the unit at approximately $8.55 billion (7.5 billion euros), according to Bloomberg News citing sources. The report remains unverified by Reuters.

• Nippon Paint made multiple offers in the past month, with the most recent bid last week worth about 7.5 billion euros
• The acquisition target is Akzo Nobel's decorative paints business unit, not the entire company
• Reuters has not independently confirmed the Bloomberg report about the proposed transaction

Ford Motor has reached a tentative three-year labor agreement with Canada's Unifor union, covering more than 5,000 unionized employees. The deal, subject to ratification, comes as Unifor negotiates with Detroit's Big Three automakers amid worsening economic conditions and recent layoffs affecting 6,000 workers across their Canadian plants.

• Unifor represents nearly 19,000 members across Ford, General Motors, and Stellantis in Canada, with existing contracts expiring September 20
• The union selected Ford as its first negotiating target because the automaker has shown the strongest commitment to continuing Canadian operations
• Approximately 6,000 workers have been laid off across the Big Three's Canadian plants as companies have shifted or paused production at several facilities

The U.S. Department of Justice subpoenaed multiple New York Times journalists to testify before a federal grand jury regarding their reporting on security concerns involving President Trump's new Air Force One aircraft, which was gifted by Qatar. The subpoenas were delivered Friday by Manhattan U.S. Attorney Jay Clayton, with some served at reporters' homes by federal agents, prompting the Times to call it an extraordinary escalation in efforts to intimidate independent media.

• Journalists must appear before a grand jury on Wednesday to testify about alleged violations of federal criminal law related to their Air Force One reporting
• DOJ stated they are targeting leakers of classified information rather than reporters, while the Times characterized the action as an intimidation tactic against independent journalism
• The subpoenas concern reporting on a Qatari-donated Air Force One that Trump used after stopping at a British Royal Air Force base

President Trump threatened to 'decimate and destroy' Iran if Tehran acts on assassination threats against him, while the U.S. Treasury sanctioned an alleged Iranian financier linked to Iran's new Supreme Leader. Iran claims the sanctions violate last month's memorandum of understanding between the two countries, as its foreign minister traveled to Oman for mediation talks. The escalation follows a week of renewed fighting and concerns over the breakdown of a fragile ceasefire.

• Trump stated '1000 Missiles are Locked and Loaded' aimed at Iran, with military orders already given for a potential one-year operation to respond to assassination threats
• Treasury sanctioned Ali Ansari, described as a financial facilitator overseeing a global network of assets benefitting Iran's new Supreme Leader Mojtaba Khamenei and regime elites
• Despite the ceasefire being declared 'OVER,' both nations agreed to continue 'technical talks' through Oman mediation, though Iran accuses the U.S. of violating the June memorandum of understanding

U.S. gasoline prices rose 6 cents this week to $3.88 per gallon, the largest weekly increase since mid-May, driven by escalating U.S.-Iran tensions in the Strait of Hormuz that pushed oil prices up 5.5%. Refinery outages in Russia and the U.S., combined with record-high American fuel exports of 8.7 million barrels per day, have further tightened supplies and created political pressure for President Trump ahead of midterm elections.

• Oil prices posted their biggest weekly gain in eight weeks (roughly 5.5%) after attacks on tankers in the Strait of Hormuz, which normally carries 20% of global oil and gas supplies
• U.S. gasoline inventories fell 1.9 million barrels to 212.1 million barrels, nearly 10 million barrels below the five-year average, with Gulf Coast stocks particularly strained
• U.S. petroleum product exports hit a weekly record of 8.7 million bpd as domestic refiners capitalize on global supply disruptions in Russia and the Middle East

A federal judge paused a union lawsuit challenging Trump administration plans to drastically downsize the Consumer Financial Protection Bureau, agreeing to wait for the Senate to confirm nominee Brian Johnson as the agency's new director. The pause suggests a potential shift in the legal battle, as both sides agreed Johnson should review the layoff plan before the case proceeds. The proposed cuts would reduce the CFPB workforce to 556 employees, less than a third of its size when Trump took office.

• Under the April layoff plan, 80-85% of positions would be eliminated in the CFPB's enforcement and supervision divisions, leaving only 556 total workers
• Capital One executive Brian Johnson, a Republican former CFPB official, is nominated to replace acting director Russell Vought, who legally must step down in August
• Both parties agreed Johnson should be allowed to review and decide whether to pursue the mass layoff plan if confirmed by the Senate