WS #12661

The dominant market-moving signal in this window is a sharp pullback in crude oil prices, with Brent crude falling 4.53% to $96.13, following reports that Pakistan is facilitating talks between the U.S. and Iran. This diplomatic development acts as a counter-signal to the prevailing US-Iran escalation narrative, dampening the bullish oil thesis. Separately, Intel (INTC) delivered a strong Q2 beat-and-raise, with Data Center and AI revenue surging 59% YoY and foundry losses narrowing for five straight quarters, though the stock initially reacted negatively. A coalition of 25 tech companies including Meta, Microsoft, Nvidia, and Palantir signed a letter backing open-weight AI models, countering potential regulatory restrictions. On the geopolitical front, Iran's Foreign Minister Araqchi stated Iran will not accept a ceasefire until its demands on the Strait of Hormuz are met, while Trump declared the MoU with Iran "is over," signaling continued tensions despite the diplomatic overtures. Other notable items include SS&C Technologies surging 11% on record Q2 results, and LeBron James signing with the Philadelphia 76ers (non-market).