Market Talks covering the impact of U.S. Politics and White House policies on companies and markets. Published exclusively on Dow Jones Newswires throughout the day.

0355 ET - The Bank of Japan is likely to remain on track to raise interest rates again in October, given the outcome of Thursday's branch managers' meeting, says SMBC Nikko Securities economist Yoshimasa Maruyama. BOJ branch managers noted resilience in production despite Middle East tensions, and the potential for further price pass-through. "Overall, this can be seen as a step forward toward an additional rate hike," Maruyama says. "However, the BOJ report and the reporting from branch managers do not convey a sense of urgency to implement another hike at the next meeting," he adds. (megumi.fujikawa@wsj.com)

2140 ET - Copper prices are higher in early Asian trade, supported by expectations that the U.S. will phase in copper import tariffs instead of imposing them immediately, Zhongtai Futures analysts write in a note. Renewed geopolitical risks after President Trump said the temporary ceasefire with Iran had ended lifted energy prices and revived inflation concerns, limiting room for industrial metals to rise, they say. Demand has entered the seasonal lull with inventory drawdowns remaining modest, they add. Copper is likely to remain rangebound in the near term amid mixed macro and fundamental signals, they say. The three-month LME copper contract is up 0.7% at $13,257.00 a ton. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

1102 ET - Oil prices climb more than 7% after President Trump warned the U.S. would likely carry out more strikes on Iran and was considering reimposing a naval blockade on Tehran. Brent crude soars 7.3% to $79.58 a barrel, while WTI futures are up 7.1% to $75.43 a barrel. Trump said he believed his ceasefire deal with Iran was over after the two sides exchanged a series of strikes and the U.S. revoked a waiver allowing Tehran to sell oil. "The direct impact of the U.S. reinstating sanctions on Iran will probably be limited," says Hamad Hussain from Capital Economics. "The bigger risks are that Iran further restricts traffic through the Strait of Hormuz and/or the U.S. reinstates its naval blockade of Iranian ports." The latest escalation risks delaying the recovery in Gulf oil production, with crude prices expected to be volatile in the coming months, analysts say. (giulia.petroni@wsj.com)

1047 ET - Canadian energy stocks are among the few gainers on the TSX after President Trump said he believed his ceasefire deal with Iran was over and that the U.S. would likely carry out more strikes soon. The news sent the price of crude oil surging over renewed supply concerns. In lock-step, Athabasca Oil, Strathcona Resources, Cenovus Energy and International Petroleum were among the top gainers, up 5%, 3.3%, 4%, and 2.5%, respectively. Most other sectors were trading lower. (adriano.marchese@wsj.com)

1027 ET - Renewed tensions between the U.S. and Iran raise the risk of a second oil shock, which could push central banks into a more hawkish policy stance, Ryan Sweet at Oxford Economics says in a note. "Some flare-ups were inevitable, unfortunately. The question is whether this represents a bump in the road or whether we're emerging from the eye of the storm," he says. A fragile peace deal will remain the key risk for the global economy moving into the second half of the year. "If the peace deal breaks...it won't just raise oil prices; it would also increase pressure on AI supply chains in Asia, force central banks to be hawkish, tighten financial conditions, and could shift the outcome of the U.S. midterms." (don.forbes@wsj.com)

1018 ET - Tariffs are likely to remain an inflationary force for a while, New York Fed researchers say in a new paper. Surveys show that, although many businesses have already fully passed through tariffs to customers and plan no further price increases, nearly half of firms that have paid tariffs still plan additional hikes, the researchers say. Pass-throughs can be delayed by firms that operate under long-term agreements and can't change prices until the contract resets, for example. Some other businesses prefer to raise prices gradually to avoid shocking their customers. The researchers conclude that "inflationary pressures due to tariffs may well last for some time to come." (paulo.trevisani@wsj.com; @ptrevisani)

0824 ET - Markets could face higher volatility for the remainder of 2026 as oil prices rise and supply falls, Algebris Investments' Gabriele Foa says in a note. Renewed U.S.-Iran attacks and President Trump's announcement that the Iran ceasefire is over raise fresh concerns about a potential oil-supply shock. Higher oil prices, lower global oil supply and renewed instability in interest rates could cause markets to be more volatile, Foa says. (miriam.mukuru@wsj.com)

0812 ET - The European Union's vote to approve the bloc's trade agreement with Mexico is an important step, especially for Germany, Hildegard Mueller, president of the German Association of the Automotive Industry, says. "About 70% of all jobs in our industry are supported by exports. That is the foundation of our prosperity," Mueller says. With the future of the U.S.-Canada-Mexico trade deal facing uncertainty, Mueller says that Stronger economic cooperation between Europe and Mexico sends a clear signal of stability, diversification, and resilient trans-Atlantic value chains. With the approval, a major hurdle has been cleared, she says. It is now crucial to move forward swiftly with the remaining procedures at the European and national levels, she adds. (nina.kienle@wsj.com)

0725 ET - Yields on U.K. 10-year government bonds, or gilts, jump to their highest level since May 21 due to inflation concerns as U.S.-Iran tensions flare up again. President Trump announced on Wednesday that the Iran ceasefire deal is over, causing oil prices to advance and inflation concerns to return. Investors are also worried about the state of future U.K. public finances ahead of the appointment of a new leader after British Prime Minister Keir Starmer said in June he would step down. Andy Burnham, the frontrunner to succeed Starmer, has announced ambitious plans that could make it difficult for the government to maintain strict fiscal rules, Ebury's Matthew Ryan says in a note. Ten-year gilt yields hit a 6.5-week high of 4.960%, Tradeweb data show. (miriam.mukuru@wsj.com)

0542 ET - Asian markets pulled back on risk-off sentiment after Trump said the ceasefire with Iran is over. The FTSE Bursa Malaysia KLCI Index closed flat, while the FTSE Straits Times Index pared gains to end 0.5% higher. India's Sensex was last 2.4% lower, on track for its worst day since March. India is among the countries most exposed to elevated commodities prices, and the risk of another closure of the Strait of Hormuz could have a significant economic impact. Given "the absence of a near-term outlook for a comprehensive diplomatic settlement, the risks of a return to the total closure of the strait, or even the retargeting of vital energy facilities across the region, whether on the Iranian or Gulf side, remain high," says Samer Hasn, analyst at XS.com. (kimberley.kao@wsj.com)

0533 ET - Sterling falls as risk sentiment weakens after President Trump said the ceasefire with Iran was over following fresh strikes between the two sides. "For me, I think the deal is over, I don't want to deal with them anymore," Trump told reporters at a NATO summit in Ankara on Wednesday. Trump's remarks came after the U.S. and Iran traded blows Tuesday, ignited by Iranian attacks on ships near the Strait of Hormuz. Sterling falls 0.2% to a one-week low of $1.3319, according to LSEG. The euro rises 0.2% to an intraday high of 0.8555 pounds, having hit a one-year low of 0.8531 Tuesday.(renae.dyer@wsj.com)

0524 ET - Tier 1 tire companies Michelin, Goodyear, Continental and Pirelli should get a positive sentiment boost from the European Commission's decision to impose antidumping duties on car and light-truck tire imports from China, Citi says. The bank says the commission's year-long investigation found these imports caused material injury to EU producers. The duties apply in addition to the EU's normal customs tariff and take effect from Wednesday. They cover Chinese-passenger car tires sold into the bloc and average 24.4% for cooperating companies, 45.3% for other players and a lower 4.3% for Hankook entities.(dominic.chopping@wsj.com)

(END) Dow Jones Newswires

July 09, 2026 03:55 ET (07:55 GMT)

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