WS #12466
The dominant theme remains the US-Iran conflict, which is showing potential de-escalation signals. Mediators have proposed a 10-day cessation of strikes to revive the interim nuclear deal, as reported by multiple sources. However, the Houthis have declared a naval blockade against Saudi Arabia, escalating regional tensions. US gasoline prices have climbed back above $4/gallon, and US crude oil inventories are at 45-year lows. In corporate news, IREN surged premarket after signing $2.8B in AI cloud contracts with Microsoft and NVIDIA, raising its year-end ARR target to over $4B. AMC Entertainment reported a massive Q2 beat with EPS of $0.14 versus estimates of -$0.06, driven by record revenue from 'The Odyssey' opening weekend. Domino's Pizza beat low expectations with shares up 8% premarket despite weak US same-store sales. Bristol-Myers Squibb will be the first life sciences company to buy an Nvidia DGX SuperPOD based on Vera Rubin systems. The UK political transition is complete with Andy Burnham becoming PM, delivering a speech focused on ending homelessness and cost-of-living measures. Taiwan indicted a former TSMC deputy manager for stealing trade secrets for China. GameStop disclosed a 9.8% stake in eBay, reigniting attention on its pursuit of the platform.
Topics
Key developments
- Mediators propose 10-day strike cessation between Iran and Israel to revive interim nuclear deal
- Yemen's Houthis declare naval blockade against Saudi Arabia
- US gasoline prices climb back above $4/gallon as Iran conflict intensifies
- US crude oil inventories hit lowest level in 45 years, with just 43 days of supply
- IREN secures $2.8B in AI cloud contracts with Microsoft and NVIDIA, raises revenue target to over $4B
- Bristol-Myers Squibb to buy Nvidia DGX SuperPOD based on Vera Rubin systems
- AMC Entertainment Q2 EPS $0.14 beats estimates of -$0.06, driven by record 'Odyssey' revenue
- Domino's Pizza beats low expectations, shares up 8% premarket despite weak US same-store sales