WS #13066

The dominant narrative this window is the sharp reversal in energy prices: Brent crude plunged 3.99% to $87.12, countering the prior bullish energy thesis from Caspian Pipeline Consortium disruptions. Gold surged 3.2% to $4,165.40, reflecting safe-haven demand amid renewed US-Iran missile barrages and a Russian missile entering Polish airspace. The US economy grew a sluggish 1.5% in Q2, missing estimates, while core inflation remained sticky. The 30-year yield hovered near 2007 highs above 5.2% after the Fed held rates steady. On earnings, Microsoft (MSFT) surged 15.7% on strong Azure growth and no major capex increase, while Meta (META) fell 9% on weak profit and high AI spending. Baxter (BAX) jumped 11% on a beat and raise. Alnylam (ALNY) plunged 29% on guidance cut. Check Point (CHKP) fell on weak Q2 sales. Oracle (ORCL) rose 6% on expanded AI deal with Google Cloud. The UEFA boycott of FIFA World Cup over private investor plans is a non-market story but adds to geopolitical noise. Overall, the market is caught between energy-driven inflation fears, mixed earnings results, and geopolitical escalation.