Market Newsfeed

USTR Greer: Talks with Mexico Focus on Ensuring Balanced Trade- Fox News Interview

USTR Greer: tariff rates comparable to previous tariffs in Fox News interview

USTR Greer: new Section 301 tariffs shouldn’t cause economic effects we’re not already facing – Fox News interview

U.S. Senate moves forward with Trump nominee Clayton for top U.S. intelligence role

Anthropic: Disagree with open letter’s claims that open-weight models inherently simplify safeguard development – post by Dario Amodei

Anthropic: Has never supported a ban on open-weight models

BREAKING: China's crude oil imports are estimated to rise +26% MoM in July, or ~1.6 million barrels per day, to ~7.8 million barrels per day.

This follows June's decline to ~6.2 million barrels per day, the lowest since November 2015.

However, imports would still remain ~4.8 million barrels per day, or 38%, below late-2025 peak levels.

Furthermore, oil shipments from Saudi Arabia to China have more than doubled this month, while flows from the UAE have surged by more than +900%, according to

U.S. Senate set to start voting on Russia sanctions bill as soon as Tuesday during Zelenskiy visit: Senate aide

Iraqi National Security Advisor: Ukrainian intelligence cells are carrying out attacks in Iraq and attributing them to resistance groups – IRIB.

Nvidia's CEO Huang to meet with lawmakers in DC this week – Politico citing Nvidia Spokesperson $NVDA

Trump concludes his remarks.

Trump Administration Nears AI Framework as Open-Source Questions Loom – The Information https://t.co/wzOhENlAk9

The Trump Administration nears voluntary AI framework – The Information.

Reports on the destruction of an American drone in the Anbar province of western Iraq – Mehr News citing Iraqi Sources

🔴 MOC IMBALANCE
S&P 500: 684.7 MLN
NASDAQ 100: 443.7 MLN
DOW 30: 217.1 MLN
MAG 7: 216.8 MLN $MACRO

Saudi Arabia's East-West oil pipeline has now become a critical route for Asian oil supply:

The East-West pipeline transports Saudi crude 746 miles from the country's eastern oil fields to the Red Sea port of Yanbu, providing an export route that bypasses the Strait of Hormuz.

In May, China was the largest buyer of crude shipped through Yanbu, importing ~774,000 barrels per day.

This was followed by South Korea at ~645,000 barrels per day, Japan at ~452,000 barrels per day, and India at ~387,

Yemeni Foreign Minister-designate Afrah Al-Zouba: Security preparations are underway for the protection of Yemeni oil exports.

Yemeni foreign minister-designate Afrah al-Zouba: Houthis want direct flights from Iran to fill the gap in military support, personnel, money, and weapons.

Trump: Iran is saying, 'Please. Please, no blockade.

TRUMP ON IRAN: VERY FRIENDLY TALKS ONGOING

IRAN'S TOP JOINT MILITARY COMMAND SAYS THEY WILL NOT LEAVE ANY THREAT BY U.S. UNANSWERED – MEHR NEWS AGENCY

IRAN'S TOP JOINT MILITARY COMMAND SAYS ANY U.S. ATTEMPT TO IMPLEMENT 'ILLEGAL' MARITIME BLOCKADE IS SEEN AS ESCALATION OF REGIONAL CONFLICT

Tuesday FX Option Expiries
https://t.co/PzRJITORAn

Trump: Mercedes, BMW, and Volkswagen are being decimated by Chinese cars.

Trump: Europe is being taken over by Chinese cars.

*TRUMP: LET'S GET RID OF DAYLIGHT SAVINGS TIME

Iran's Central Command: Any attempt at a blockade is equivalent to escalating the conflict – IRNA.

MACQUARIE SEES OIL GLUT ON US-IRAN DEAL

Macquarie expects the oil market to swing into surplus before year-end if the U.S. and Iran de-escalate the conflict ahead of the midterm elections.

The bank says easing tensions could restore Middle East oil flows within weeks, creating a significant oversupply after war-related disruptions tightened global markets.

Brent crude futures settle at $88.36/bbl, down $8.42, 8.7%.

BREAKING: Sandisk stock, $SNDK, extends losses to over -14% on the day, now down -47% from its June 22nd record high.

That’s -$170 billion in market cap over the last month. https://t.co/9sNhOgA4Ux

$NVDA – NVIDIA CREDIT RISK JUMPS

The cost of insuring Nvidia's debt surged to a record after reports the company is discussing more than $750 billion in AI infrastructure financing tied to OpenAI.

Investors are growing concerned about Nvidia's expanding financial commitments, with analysts warning complex financing structures could increase credit risks.

JPMORGAN TURNS BULLISH ON STOCKS

JPMorgan said its tactical positioning monitor is flashing a buy signal, pointing to further upside for the S&P 500.

The bank expects lower bond yields, a weaker dollar, steady Fed policy, and strong earnings to support equities, while warning that semiconductor positioning and U.S.-Iran tensions remain key risks.

BITCOIN ETF OUTFLOWS RETURN

Bitcoin ETFs posted two straight days of net outflows, totaling more than $465 million, after briefly returning to inflows.

Analysts said the reversal reflects cautious investor sentiment rather than heavy selling. Markets are now focused on this week's Federal Reserve meeting, with policymakers' guidance expected to shape the near-term outlook for cryptocurrencies.

NYMEX Natural Gas August futures settle at $2.7670/MMBTU.

NYMEX Gasoline August futures settle at $3.3273 a gallon.

BOFA BACKS ASML AFTER SELLOFF

BofA Securities reiterated its Buy rating and price target on ASML, calling the recent selloff an overreaction.

The bank estimates a Chinese shift to domestic DUV tools would cut next year's sales by only about €1.4 billion (2.4%). It said ASML's EUV leadership remains unmatched and views current valuation as an attractive buying opportunity.

NYMEX Diesel August futures settle at $4.1116 a gallon.

NYMEX WTI crude September futures settle at $82.61 a barrel, down $6.70, 7.50%

U.S. CRUDE OIL FUTURES SETTLE AT $82.61/BBL, DOWN $6.70, 7.50 PCT

Trump: It's Amazing what tariffs will do for GM $GM

TRADERS DRIVE STRONG DEMAND IN FIRST WEEKEND OF CME GROUP'S 24/7 GOLD FUTURES

US Official: Trump to discuss Iran and Abraham Accords with Netanyahu.

Trump to discuss Russia-Ukraine war with Zelenskyy – PunchBowl News citing a US Official

Google and Microsoft say they found a record number of software bugs. $GOOGL $MSFT

US: Known cyber bugs is set to far exceed 205 number.

AI hunts for cyber flaws, finding record numbers in the tech sector

Iraq will not allow its territory to be used to launch attacks against neighbouring countries after drone attacks on Saudi Arabia – Iraqi Prime Minister Media Office

Stocks of crude oil in the US Strategic Petroleum Reserve fell by about 3.7 mln barrels to 307.7 mln barrels last week, the lowest since 1983.

US 5-Year Note Auction

High Yield 4.408% [Tail +0.9 bps]
Bid-to-cover 2.28
Sells $70 bln
Awards 51.71% of bids at high
Primary Dealers take 13.5%
Direct 27.2%
Indirect 59.2%

US 3-Month Bill Auction
High rate 3.815%
Bid-to-Cover 3.06
Sells $92 bln
Awards 83.44% of bids at high