WS #12192
The US-Iran conflict continues to escalate with the US striking an oil tanker heading to Kharg Island as it enforces a new blockade, corroborated by BBC, Guardian, and Bloomberg. Iran has told Houthis to be ready to hit Red Sea ships, and Dana Gas has suspended operations at Iraq's Khor Mor field due to threats. US diesel prices have topped $5/gallon, and retail sales data showed mixed signals (headline +0.2% M/M in line, but ex-autos missed). Jobless claims beat at 208K vs 216K est. Earnings highlights: UnitedHealth surged ~7% on Q2 beat and raised guidance, Abbott +3% on raised outlook, Prologis beat and raised, State Street beat on fee income. TSMC's strong Q2 (revenue +34% y/y) was overshadowed by market rotation fears. Eli Lilly to acquire AtaiBeckley for $2.8B upfront, boosting psychedelics pipeline. The geopolitical narrative remains ESCALATING with oil supply risks, partially countered by the Iraq loading restart and clarification on Basra drone incident from prior awareness.
Topics
Key developments
- US strikes oil tanker heading to Kharg Island, enforces new Iran blockade
- Iran tells Houthis to be ready to hit Red Sea ships; Dana Gas suspends Khor Mor field
- US diesel tops $5/gallon; regular gas near $4
- UnitedHealth Q2 beat, raises FY26 guidance, shares +7% premarket
- Eli Lilly to acquire AtaiBeckley for $2.8B upfront, boosting psychedelics pipeline
- US jobless claims beat at 208K vs 216K est; retail sales mixed
- TSMC Q2 revenue +34% y/y, but market rotation weighs on chip stocks
- IBM shares fall 25% after preliminary Q2 miss