Trending Market News

Abbott Laboratories is investigating two cybersecurity incidents involving unauthorized access to systems at its cancer diagnostics business and its LabCentral portal. The medical device maker stated that operations remain unaffected and no sensitive customer or business information was exposed. Abbott does not expect any material impact on its business or financial results from these incidents.

• The cancer diagnostics incident involved legacy Exact Sciences systems that are separate from Abbott's main systems, with no other Abbott businesses or sites impacted
• The LabCentral portal breach only exposed publicly available technical product documents such as operating manuals and product specifications, not proprietary or sensitive information
• Abbott has engaged outside cybersecurity experts and law enforcement to investigate and address the incidents, part of a broader trend of cyberattacks affecting major healthcare companies including Stryker, Medtronic, and Novo Nordisk

SpaceX is in discussions with the U.S. Department of Defense to provide data center capacity worth billions of dollars for running AI models, according to a Wall Street Journal report. The talks are ongoing and could still fall apart. SpaceX employees have also discussed plans to compete directly with neocloud firms like CoreWeave by offering computing capacity to AI customers at lower prices.

• The deal would be worth billions of dollars and provide Pentagon access to computing power for AI model operations
• SpaceX aims to compete with neocloud providers such as CoreWeave by offering lower-priced computing capacity to AI customers
• Discussions remain ongoing and could collapse; neither SpaceX nor the Pentagon responded to requests for comment

FCC Commissioner Anna Gomez criticized President Trump's call to revoke broadcast licenses from ABC and NBC after they declined to air his speech about election security on July 16, 2026. Gomez stated that Trump's demand is unconstitutional, as broadcasters' editorial decisions are protected by the First Amendment and the FCC has no authority to punish stations for refusing to air political speeches.

• Trump delivered a nearly half-hour speech claiming U.S. elections are unreliable and threatened license revocation for networks that didn't broadcast it
• FCC Commissioner Gomez called the demand 'ridiculous' and 'a naked attempt to bully broadcasters', noting networks have made similar editorial decisions under presidents of both parties
• Revoking a broadcast license requires a multi-step legal process including an administrative law judge decision that can be appealed to the full FCC and courts

Iran has intensified attacks on oil tankers in the Strait of Hormuz, forcing vessels to navigate through Iranian territorial waters instead of U.S.-protected routes near Oman. At least nine ships have been attacked since July 6, with one seafarer killed and fourteen injured, creating what maritime risk experts call a 'worst-case scenario' that has drastically reduced traffic through the critical waterway.

• Daily ship transits through Hormuz fell to just 8 vessels on Thursday from over 100 daily before U.S.-Israel attacks on Iran in February, with crews now refusing passage due to safety fears regardless of financial incentives
• Iranian forces have used anti-ship missiles in attacks, while the traditional middle route remains too dangerous due to mine threats; one seafarer was killed and three injured on tanker Al Bahyah, with eleven more injured on Mombasa B
• The U.S. has reimposed a naval blockade and launched airstrikes against Iranian targets in retaliation, but the June 17 agreement between U.S. and Iran failed to define safe transit lanes, leaving the security situation unresolved

The Federal Aviation Administration will restore Boeing's authority to issue airworthiness certificates for 737 MAX and 787 aircraft starting next week. This decision follows months of FAA review demonstrating consistent production quality and marks a significant milestone for Boeing after extended regulatory scrutiny.

• Boeing will regain ticketing authority for both 737 MAX and 787 models under FAA oversight
• The FAA's decision is based on months of thorough data and safety reviews showing consistent production quality
• This restoration represents the FAA's renewed confidence in Boeing's certification capabilities after previous production and safety issues

Apple and the U.S. Department of Justice are in early settlement discussions regarding a 2024 antitrust lawsuit that accuses the iPhone maker of violating antitrust laws. The talks represent a potential resolution to the government's legal action against one of the world's largest technology companies.

• The DOJ filed the antitrust lawsuit against Apple in 2024, alleging violations of competition laws
• Settlement discussions are described as being in early stages, with no details yet available on potential terms or concessions
• The case is part of broader government scrutiny of major technology companies' market practices and competitive behavior

Trump Media & Technology Group is reportedly offering a premium 'Truth API' service that would charge traders and investors up to $100,000 monthly for faster access to President Trump's Truth Social posts. This represents the company's first move into data licensing as it seeks new revenue streams. Trump's social media posts have proven market-moving, with his tariff and trade announcements significantly impacting global financial markets.

• The Truth API product will deliver posts from the 10 most influential Truth Social accounts faster than regular push notifications, targeting banks and trading firms
• Trump's announcements have directly moved markets, including an April 2025 post about pausing tariffs that caused Wall Street indexes to turn sharply higher
• The Donald J. Trump Revocable Trust holds roughly 114.75 million shares in Trump Media, with the trust overseen by Trump's children

Meta Platforms is negotiating a potential $10 billion deal to lease computing power to AI startup Anthropic, according to a New York Times report citing three sources familiar with the discussions. The deal would represent a major cloud computing partnership between the social media giant and one of the leading AI companies.

• The arrangement would involve Meta providing significant computing infrastructure to Anthropic, potentially worth $10 billion
• This marks a notable shift as Meta would be monetizing its computing resources by serving as a cloud provider to an AI competitor
• The deal reflects growing demand for computing power among AI companies and potential new revenue streams for tech giants with excess infrastructure

The United States will restore Hong Kong's special trading status that was revoked in 2020 after China imposed a national security law on the territory, according to China's commerce ministry. The move follows recent U.S.-China trade talks that produced tariff reductions and marks a significant policy reversal. This could restore Hong Kong's preferential treatment on export controls and other trade measures that have been aligned with mainland China since 2020.

• Trump's 2020 executive order revoking Hong Kong's special status has been extended annually but will not be renewed after the July 14 renewal date passed this week
• The restoration follows recent trade talks between Washington and Beijing in May 2026 and could separate Hong Kong's trade treatment from mainland China's export controls
• Hong Kong lost its special economic status in 2020 in response to China's national security law, which critics say crushed freedoms while supporters claim it brought stability after 2019 protests

Major music publishers including Universal Music Group and Sony Music have agreed to end their legal dispute with Elon Musk's X Corp over unauthorized use of copyrighted music on the social media platform. Both the publishers' infringement lawsuit and X's antitrust countersuit will be dismissed with prejudice, meaning they cannot be refiled. Terms of the settlement were not disclosed.

• The music publishers originally sued X in 2023, accusing the platform of infringing hundreds of copyrights by allowing users to post songs without proper licenses
• X had countersued in Texas in January 2025, alleging the publishers violated antitrust law by refusing to negotiate individual licensing deals and forcing inflated rates
• A federal judge previously ruled X could not be held liable for direct or vicarious copyright infringement, but allowed part of the contributory infringement claim to proceed before the settlement

Luxury carmaker Aston Martin is in discussions with lenders including BlackRock-owned HPS Investment Partners to raise additional funding to boost liquidity. The company has been struggling with cash burn and declining sales due to U.S. tariffs and weak Chinese demand, posting quarterly losses. The proposed financing would involve a 'drop-down' transaction that places company assets beyond the reach of existing creditors.

• The proposed financing structure would use a 'drop-down' transaction, transferring company assets beyond existing creditors' reach to secure new funding
• Aston Martin reported another quarterly loss in April and has been hit by U.S. tariffs and weak demand in China
• In April 2026, the company secured funding from a consortium that brought liquidity to £230 million at the end of the March quarter

Apple is closing in on Nvidia to reclaim the title of world's most valuable company, valued at $4.90 trillion compared to Nvidia's lead held since June 2025. This shift reflects investors broadening their focus beyond pure AI infrastructure plays to companies like Apple that can monetize AI through services and hardware upgrades. The race comes as CEO Tim Cook prepares to hand over leadership to John Ternus in September.

• Apple would reclaim the top spot for the first time since April 2025, signaling investor confidence in its AI monetization strategy through services, ecosystem lock-in, and hardware rather than capital-intensive model development
• Nvidia became the first company to reach $5 trillion valuation in October but faces competition as AI enthusiasm spreads to memory chipmakers like Micron and SK Hynix, which hit record highs earlier this year
• The semiconductor sector has seen volatility, with the Philadelphia SE Semiconductor index falling nearly 19% from all-time highs in July as investors reassess the sustainability of the AI trade

A CNBC survey shows 61% of Americans are pessimistic about the economy despite a strong stock market, with President Trump's approval rating at 40% and high disapproval on his handling of the economy and Iran war. Democrats hold only a 4-point advantage for congressional control as voters remain locked into partisan positions, while 47% of Americans report cutting back on essential items like food and medical care due to rising prices.

• Trump's economic approval is deeply negative at 38% approve vs 60% disapprove (-22 net), his worst performance in his political career, while 68% disapprove of his handling of inflation
• 47% of Americans are cutting back on essentials (up 6 points since April), with the impact hitting lower-income households hardest: 60% of those earning under $30,000 reducing essential spending vs 35% of those over $100,000
• Support for military action against Iran dropped to 48% (from 53% in April), with Trump underwater even among non-MAGA Republicans (47% approve) on Iran handling, though Democrats' congressional advantage remains modest at just 4 points

Telstra CEO Vicki Brady testified that last week's major outage at Australia's largest telecom was caused by an undocumented design change and a missed software update on network timing equipment. The incident cut phone services for thousands, disrupted payments, halted trains, and affected emergency Triple Zero calls. The outage is the latest in a series of telecommunications failures affecting Australian carriers.

• Maintenance work triggered a software configuration that reset the device's date to 2006, causing authentication certificates to fail across Telstra's network and disrupting voice, data, and emergency services
• An intentional design change to fix a prior fault was never properly documented, leaving the maintenance team unaware of the equipment's behavior when restarted, and a critical software update had not been applied
• Brady stated the outage may have been prevented if either the software update had been completed or the design change properly documented, and Telstra will investigate why controls failed to capture and prioritize these known risks

Air China and its subsidiary Shenzhen Airlines have ordered 55 Airbus aircraft with a combined list price of $12.4 billion, marking a significant fleet expansion and modernization effort. The order includes 15 A350-900 wide-body jets for Air China and 40 A320neo-family narrow-body aircraft for Shenzhen Airlines, with deliveries scheduled between 2029 and 2032.

• The A350-900 jets are valued at approximately $6.09 billion (list price) and will be delivered between 2030-2032, while the A320neo family aircraft are worth about $6.35 billion and scheduled for 2029-2032 delivery
• Actual transaction prices will be significantly lower than list values due to standard industry discounts from Airbus, with financing coming from a mix of airline funds, commercial bank loans, and other arrangements
• The purchase is part of Chinese carriers' continued fleet rebuilding and expansion following the pandemic, aimed at optimizing fleet structure, improving operational efficiency, and reducing costs

GSK has discontinued development of camlipixant, an experimental drug for refractory chronic cough, after it failed to meet a key efficacy endpoint in a late-stage clinical trial. While the 50mg dose showed effectiveness at 12 weeks, it did not achieve statistical significance at the 24-week mark compared to placebo.

• Camlipixant's 50mg dose successfully reduced 24-hour cough frequency versus placebo at 12 weeks when taken twice daily
• The drug failed to reach statistical significance for the same primary endpoint at week 24, prompting GSK to halt further development
• The discontinuation affects treatment options for refractory chronic cough, a condition with limited therapeutic alternatives

BP and ConocoPhillips are set to announce billions of dollars in new investments in Iraq during the U.S.-Iraq Business Summit in Washington. The move is part of a broader U.S. strategy to strengthen Iraq's energy sector and reduce regional dependence on energy routes vulnerable to Iranian disruption, with over $60 billion in total agreements expected at the summit.

• The investments by BP, ConocoPhillips and other firms could reach tens of billions of dollars, with BP focusing on the Rumaila oilfield and Kirkuk field redevelopment projects
• The Strait of Hormuz, which handled roughly a fifth of global oil before recent conflicts, has become a critical focus amid renewed U.S.-Iran tensions
• Iraqi Prime Minister Ali Al-Zaidi is meeting with major energy companies including Halliburton, Shell, Honeywell, Weatherford and Baker Hughes to expand oil and gas production

Fast-fashion retailer Shein has received approval from Hong Kong's stock exchange listing committee for an IPO, according to sources, marking a significant step toward its stock market debut. This follows stalled listing attempts in New York and London due to regulatory scrutiny. The IPO would be one of Hong Kong's most closely watched listings in years and a major test of investor appetite for large consumer deals.

• Shein previously attempted to list in New York and London but faced regulatory obstacles that halted those efforts
• The Hong Kong IPO represents a major test of investor appetite for large consumer deals in the Asian financial hub
• Neither Shein nor the Hong Kong stock exchange immediately commented on the listing committee approval

Danske Bank reported second-quarter net profit of 6.02 billion Danish crowns ($921.21 million), beating analyst expectations of 5.92 billion crowns. The Danish bank raised its full-year profit outlook to 23-25 billion crowns from a previous range of 22-24 billion crowns, citing high customer activity, growing volumes, and broad-based income growth.

• Q2 net profit rose to 6.02 billion Danish crowns from 5.45 billion a year earlier, exceeding the average analyst estimate of 5.92 billion crowns
• Full-year profit guidance increased to 23-25 billion Danish crowns, up from the previous 22-24 billion crown range
• Performance driven by high customer activity, growing volumes, and broad-based income growth across the bank's operations

Sweden's Volvo Cars reported an operating profit of 800 million Swedish crowns ($82.76 million) for Q2, representing a 50% decline from the 1.6 billion crowns reported in Q1. The automaker, majority-owned by China's Geely Holding, is banking on deliveries of its new EX60 electric SUV to accelerate its recovery.

• Operating profit fell to 800 million Swedish crowns ($82.76 million) in Q2 from 1.6 billion crowns in Q1, a 50% quarter-over-quarter decline
• Volvo Cars is majority-owned by Chinese automotive group Geely Holding
• The company expects the new EX60 mid-sized electric SUV model to help drive recovery in coming quarters