WS #12548

The US-Iran conflict continues to escalate, with a 10th consecutive night of US airstrikes on Iran and reports of Iran striking Kuwait and Bahrain, including an unverified claim of destroying an Amazon data center in Bahrain. Oil prices have surged above $90/barrel as a Kuwaiti tanker was hit in the Strait of Hormuz, and the Houthis have blockaded Saudi shipping via the Bab el-Mandeb Strait, threatening two critical energy corridors. Indian state-run refiners have suspended crude loadings from Iraq due to security risks in the Strait of Hormuz. The ASEAN summit expressed 'serious concern' over the Iran war and energy crisis. In corporate news, Danaher shares fell 14% after cutting its 2026 core revenue growth forecast despite a Q2 earnings beat, while General Motors reported better-than-expected Q2 results and raised guidance. SpaceX shares rose after ARK Invest disclosed a $20.5 million purchase, and the company set its first earnings date for Aug. 4, triggering a lock-up expiration. Novo Nordisk sued Eli Lilly for false advertising in weight-loss drug comparisons. Russia passed a landmark cryptocurrency bill legalizing crypto for foreign trade. US Secretary Rubio will meet Chinese FM Wang Yi in Manila on Wednesday, a potential diplomatic signal amid trade tensions.