WS #12176
The data dump is dominated by escalating US-Iran conflict, with multiple sources reporting new strikes and threats. Iran's Revolutionary Guards claim they targeted US bases in Kuwait and Iraq, and the IRGC threatens to close more oil and gas routes. Oil prices have risen for a fourth day, and the US reportedly weighs pulling troops from Saudi Arabia. Intel officials predict the Pentagon's bill for the Iran war could exceed $100 billion. This escalation is the dominant signal, with oil and defense stocks likely to move. Meanwhile, South Korea's BOK raised rates and signaled strong chip sector growth, but the tech rout in Asia continues. The PPI data showing a surprise drop is a counter-signal to inflation fears, but the geopolitical risk overrides. The Anthropic IPO and PayPal takeover are notable but secondary.
Topics
Key developments
- Iran launches missile and drone attacks on US bases in Kuwait and Iraq, IRGC threatens to close oil routes
- US PPI unexpectedly falls 0.3% MoM in June, reinforcing disinflation trend
- South Korea BOK raises rates 25bps to 2.75%, signals strong chip sector growth
- PayPal surges 17% on $53B takeover bid by Stripe and Advent International
- Anthropic reportedly targeting October IPO with potential $1 trillion valuation