Market Recap
Closing figures for July 18: The Dow Jones Industrial Average fell more than 400 points, with all three major US stock indices posting weekly losses.
Top 20 US stocks by trading volume on July 18: Reports suggest Meta is leasing computing power to Anthropic in a deal potentially worth up to $100 billion.
Popular US-listed Chinese stocks mostly declined on July 18: Taiwan Semiconductor Manufacturing Company (TSMC) fell 2.81%, while Alibaba dropped 2.14%.
Commodities Overview: Crude oil prices surged, copper prices weakened, and gold prices rebounded.
European markets closed lower, weighed down by a sell-off in technology stocks and escalating tensions in the Middle East.
Macroeconomic and Geopolitical Developments
The US Department of Defense reported 13 additional American service members wounded in operations against Iran.
Reports indicate the US plans to deploy dozens of additional aerial refueling tankers to Israel.
The US conducted further strikes against Iran, contributing to oil prices posting their largest weekly percentage gain since April.
Former President Donald Trump criticized Canada's wildfires, stating the US would add pollution costs to tariffs.
The US military announced it launched a new round of strikes against Iran.
The US military stated it has resumed a maritime blockade on Iran, intercepting six vessels within three days.
Iran's Revolutionary Guard claimed it targeted a US unmanned vessel in Bahrain.
Iran stated it shot down a US MQ-9 drone.
A senior military advisor to Iran's Supreme Leader declared that the US-Iran understanding memorandum is effectively defunct.
Iran condemned US attacks on civilian infrastructure as a war crime.
Iran's Foreign Minister denounced US military strikes on Iranian bridges.
Iraq and Syria signed an agreement to rebuild an oil pipeline, providing an alternative route to the Strait of Hormuz.
Corporate News
Shares of SpaceX (SPCX) continued their decline, with its market capitalization erasing $1 trillion from its peak.
Meta is reportedly in talks to lease computing capacity to Anthropic in a deal that could be worth up to $100 billion.
ASML plans to give employees a one-time bonus of 20,000 euros, driven by strong performance fueled by robust AI demand.
Reports suggest SpaceX is negotiating to sell computing power to the Pentagon, a deal potentially worth billions of dollars.
Apollo stated that its exposure to high-risk private credit is minimal, likening it to a "grain of sugar" on a cupcake.
Trump Media launched a paid Truth API, selling fast-track access to posts from popular accounts.
Truist Financial reported a 37% surge in second-quarter net profit, with investment banking revenue soaring 72%.
Apple is engaged in preliminary settlement talks with the US Department of Justice regarding an antitrust case.
The Starship test flight was aborted under emergency conditions, leading to a sharp drop in SpaceX shares and potentially setting up a sixth consecutive day of losses.
Fairlife, a dairy company owned by Coca-Cola, suffered a ransomware attack, halting production.
SpaceX aborted the second test launch attempt of its Starship V3 rocket shortly after ignition.
Market Commentary and Analysis
US Treasury Market: Government bond prices were mixed; rising oil prices pressured shorter-dated bond prices lower.
The US is considering establishing a regulatory body, similar to FINRA, to oversee top-tier artificial intelligence models.
Analysts warn that a US-Iran war could intensify in the first week of a potential new administration, with UK assessments suggesting Trump's threats against Iran are not empty rhetoric.
A Bank of America strategist team warned that market positioning is extremely bullish and advised selling stocks.
Crude oil futures rose sharply on market fears of escalating US-Iran conflict.
A vessel was attacked in the Strait of Hormuz.
In his first speech as elected Labour leader, Burnham pledged to build a government that supports business development.
US Treasury futures declined following reports of the US deploying additional tankers to Israel.
The Cleveland Fed President stated that the dual mandate is not conflicting, expressing greater current concern about inflation.
The US July Consumer Confidence Index unexpectedly rose to a five-month high, boosted by falling gasoline prices.