[Jul 24, 2026, 07:00–16:00 EST] 🔥 Top Stories • Middle East escalation risks spike — reports of strikes/explosions across Iran, Saudi, Kuwait, Yemen; tanker attacks and Hormuz-Bab el-Mandeb tensions lifted oil volatility and safe-haven flows. • Trump weighs Iran options, pushes trade pressure — said he’s speaking with Iran, hasn’t decided on strikes, while also threatening major EU tariffs/301 probe and fresh Canada/Mexico tariffs. • US growth data stays firm — flash PMIs beat estimates and June new-home sales topped forecasts, keeping recession fears in check. • US stocks mixed at the close — Dow outperformed, Nasdaq lagged as AI/mega-cap weakness and geopolitics pressured tech. ⛽ Oil & Energy • Crude swung lower despite conflict headlines — WTI settled at $89.31, Brent at $96.78 after missile/tanker reports, with renewed Red Sea/Hormuz risk. • Tanker reroutes and strikes — TORM re-routed via Suez/southern Africa; reports also pointed to damage on a Saudi vessel and strikes in Hodeidah. • Energy names/guidance — SLB guided Q3 revenue up 3–4% and looked for broader data-center exposure; NextEra beat EPS but trimmed/managed guidance. 📊 Markets & Macro • US PMI surprise upside — composite 53.6, manufacturing 53.8, services 53.6; all above consensus and signaling solid activity. • Housing resilient — June new home sales rose to 628k vs 607k expected. • Rates calm, Fed/FX still steady — overnight/efffective Fed funds held near 3.63%; ECB’s Lane/Zigman kept a data-dependent, meeting-by-meeting tone. • UK/Canada data mixed — BOE poll sees 3.75% rates held; Canada PPI/RMPI cooled sharply, reinforcing disinflation. 🌍 Geopolitical • Israel/Iran diplomacy front-loaded — Netanyahu is set to meet Trump in Washington Tuesday as Gulf states, Pakistan and Oman push de-escalation/mediation. • Hormuz coalition talk — US and UK are planning a London meeting on protecting shipping in the Strait of Hormuz. • NATO/Europe airspace tension — allied fighters downed a drone in Romania; Ukraine continued warning on port/shipping attacks. • China/Russia angle — Trump said Xi/Putin assured him they won’t sell weapons to Iran; Beijing backed Pakistan’s mediation role. 🪙 Crypto & DeFi • Regulatory pressure on crypto — HTX was included in EU Russia sanctions, while the US Crypto Clarity Act ran into Senate/ethics headwinds. • Stablecoin activity rises — Robinhood Chain stablecoin supply topped $400M, up sharply since early July. • Altcoin fundraising — World Foundation raised $52.5M in a WLD token sale with a one-year lockup. 🏛️ Regulatory & Policy • US-EU trade fight escalates — Trump launched a Section 301 probe over EU fines on US firms and threatened substantial tariffs. • US sanctions broaden — Treasury added sanctions tied to Iranian financier Babak Zanjani and other entities in Turkey/UAE. • China probes regulators — Beijing opened an inquiry into former CSRC vice chairman Fang Xinghai. • UK/BOE steady path — market consensus still expects the BOE to hold at 3.75% next week. 🏢 Corporate • Earnings beats: AXP, VZ, HCA — AmEx and Verizon beat EPS; HCA posted strong growth; Charter missed on EBITDA. • Verizon/Google deal — Verizon signed a $1B data-center infrastructure agreement with Google. • Intel & Qualcomm headlines — Intel beat with strong guidance and a glass-substrate packaging pact; Qualcomm warned of double-digit price hikes. • AI race accelerates — Meta rolled out new AI productivity features; Anthropic launched Claude Opus 5 at lower cost; Nvidia/Palantir pushed back on open-model restrictions. • Big tech/M&A/news flow — Apple hit a record $4.9T market cap; Waymo explored exiting Uber partnership; Paramount/Warner Bros. deal was delayed.