WS #12124
No material new developments in the last 30 minutes. The dominant narrative remains the US-Iran conflict and Strait of Hormuz closure, which is DE-ESCALATING slightly as Trump claims Iran called to make a deal, though the IRGC threatens further closures. The Bank of Canada held rates at 2.25% as expected. Apple Intelligence cleared in China (bullish AAPL, BABA), PayPal surges on $53B takeover rumors (bullish PYPL), SpaceX bonds heading towards junk (bearish SPCX), and FCC to vote on eliminating broadcast ownership cap (bullish NXST, PSKY). No new data points to update the previous synthesis.
Topics
Key developments
- Apple Intelligence Cleared for China, Alibaba's Qwen AI Powers Rollout
- PayPal Surges 14% on $53B Takeover Rumors from Stripe and Advent
- SpaceX Bond Yields Rocket Towards Junk Status
- FCC to Vote on Eliminating 39% Broadcast Ownership Cap on August 6
- China Q2 GDP Growth Slows to 4.3%, Weakest Since Late 2022
- IRGC Threatens Closure of Additional Oil and Gas Routes
- Elevance Health Q2 Beat but Conservative Guidance Triggers Managed-Care Selloff
- 3M Partners with Microsoft to Develop AI Infrastructure