WS #13024
No material new developments in the last 30 minutes. The dominant narrative remains the US-Iran escalation and mixed mega-cap tech earnings, with no counter-signals or de-escalation reported.
Topics
Key developments
- Trump threatens Iran strikes after attack on US base in Jordan; Saudi Arabia enters conflict with airstrikes
- Microsoft beats Q4 earnings: Azure revenue growth accelerates to 43%, cloud revenue surpasses $214B, raises guidance
- Meta misses Q2 EPS, free cash flow collapses 91% on AI capex, stock down >10% after hours
- Qualcomm beats Q3 estimates, announces price hikes starting September 1st
- Fortinet double beat: EPS $0.90 (beat 20%), revenue $2.05B (beat 8%), raises full-year guidance, stock +12% after hours
- Fed holds rates steady with three dissents favoring hike; 30-year yield surges, stocks see worst Fed Day since Dec 2024
- Two tankers hit in apparent drone strike in Egypt; Brent crude surges 7% to near $90
- Arm beats Q1 estimates but guides smartphone royalties lower for next quarter