WS #12113
The US-Iran conflict continues to escalate, with the Strait of Hormuz effectively closed and Brent crude rising above $86/barrel. US VP Vance claims Iran's navy and military have been destroyed, while Iran retaliates with attacks on Kuwait, Bahrain, and Jordan. Trump threatens to target Iranian power plants and bridges next week. The narrative remains ESCALATING. In corporate news, Nvidia received US approval to ship limited H200 AI chips to China, sending NVDA up 4% premarket. Apple's AI service received China regulatory备案, with Alibaba's Qwen to be integrated, lifting BABA 5% premarket. BlackRock, Elevance Health, and Johnson & Johnson all beat Q2 estimates and raised guidance. ASML raised FY26 outlook again on AI demand. Aehr Test Systems surged 30% on record bookings. M&T Bank beat estimates. The Iran conflict's second-order effects on energy, airlines, and consumer stocks remain the dominant macro theme.
Topics
Key developments
- US-Iran conflict escalates: Strait of Hormuz closed, Brent above $86, Trump threatens power plants and bridges
- Apple AI service receives China regulatory approval; Alibaba Qwen to be integrated
- Nvidia receives US approval to ship limited H200 AI chips to China, stock up 4% premarket
- BlackRock Q2 EPS $13.91 beats by $1.26, revenue $7.08B beats by $240M, raises share repurchases
- Elevance Health Q2 EPS $7.45 beats by $1.24, raises FY26 guidance
- Johnson & Johnson Q2 EPS $2.90 beats $2.85, raises FY26 guidance
- ASML raises FY26 outlook again on AI demand, plans capacity boost
- Aehr Test Systems jumps 30% premarket on record bookings, projects revenue up to 3x