WS Amati Global Innovation Fund, managed by a UK-based equity management firm from AMAti Global Investors, released its second quarter 2026 investor letter. A copy of the letter is available to download here. Financial market performance in the second quarter was dominated by geopolitical conflict and enthusiasm for AI. Significant investments across all elements of AI resulted in exceptional growth for related companies, ranging from chip producers to companies constructing data centres. The fund outperformed the MSCI ACWI benchmark due to its diversified exposure beyond headline AI firms, with semiconductor and equipment suppliers being major contributors. At the same time, software and IT services faced investor skepticism due to fears of automation despite long-term potential. The firm is confident in the innovation frontiers to capture long-term growth opportunities in automation, semiconductors, and advanced technologies. In addition, please check the Strategy's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, WS Amati Global Innovation Fund highlighted Globant S.A. (NYSE:GLOB). Globant S.A. (NYSE:GLOB), a technology services company that provides digital transformation, AI, and software development solutions, detracted from the Fund's performance during the quarter. On July 24, 2026, Globant S.A. (NYSE:GLOB) closed at $31.30 per share, reflecting a market capitalization of $1.35 billion. Globant S.A. (NYSE:GLOB) posted a one-month return of 9.72%, while its shares lost 64.62% over the past 52 weeks.
WS Amati Global Innovation Fund stated the following regarding Globant S.A. (NYSE:GLOB) in its Q2 2026 investor update:
"Although both companies weighed on performance, the largest single detractor was Globant S.A. (NYSE:GLOB), the US listed IT services and digital engineering business. It too was a casualty of the excessive extrapolation we believe investors are currently making and we have been gently adding on weakness to all three names."
Globant S.A. (NYSE:GLOB) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 25 hedge fund portfolios held Globant S.A. (NYSE:GLOB) at the end of the first quarter, compared to 33 in the previous quarter. While we acknowledge the potential of Globant S.A. (NYSE:GLOB) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

#fund #amati #global

WS Amati Global Innovation Fund, managed by a UK-based equity management firm from AMAti Global Investors, released its second quarter 2026 investor letter. A copy of the letter is available to download here. Financial market performance in the second quarter was dominated by geopolitical conflict and enthusiasm for AI. Significant investments across all elements of AI resulted in exceptional growth for related companies, ranging from chip producers to companies constructing data centres. The fund outperformed the MSCI ACWI benchmark due to its diversified exposure beyond headline AI firms, with semiconductor and equipment suppliers being major contributors. At the same time, software and IT services faced investor skepticism due to fears of automation despite long-term potential. The firm is confident in the innovation frontiers to capture long-term growth opportunities in automation, semiconductors, and advanced technologies. In addition, please check the Strategy's top five holdings to know its best picks in 2026.
In its Q2 2026 investor letter, WS Amati Global Innovation Fund highlighted Autodesk, Inc. (NASDAQ:ADSK). Autodesk, Inc. (NASDAQ:ADSK) is a software company that develops 3D design, engineering, and entertainment technology solutions. On July 24, 2026, Autodesk, Inc. (NASDAQ:ADSK) closed at $209.75 per share, reflecting a market capitalization of $44.29 billion. Autodesk, Inc. (NASDAQ:ADSK) posted a one-month return of 7.43%, while its shares lost 31.11% over the past 52 weeks.
WS Amati Global Innovation Fund stated the following regarding Autodesk, Inc. (NASDAQ:ADSK) in its Q2 2026 investor update:
"Equity markets in their enthusiasm for the AI opportunity have written off many companies which we are confident have many years of demand growth ahead. Specialist software providers into often highly regulated industries will be extremely difficult to replicate and there is little incentive for users to do so. Companies such as PTC and Autodesk, Inc. (NASDAQ:ADSK) are often foundational for the clients that use them, and they are embracing AI to improve their offering and the efficiency of their customers. The way their businesses are effectively being written off in the minds of investors creates a very attractive investment opportunity in our view, and our 3-5 year time horizon gives plenty of runway for a more balanced view to ******* ert itself."
Autodesk, Inc. (NASDAQ:ADSK) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 67 hedge fund portfolios held Autodesk, Inc. (NASDAQ:ADSK) at the end of the first quarter, compared to 81 in the previous quarter. While we acknowledge the potential of Autodesk, Inc. (NASDAQ:ADSK) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, se

LIV Golf Michigan, the league's $40 million team championship, is set to be officially canceled after the status of the 2026 season finale had come under serious doubt last week, sources tell Front Office Sports.
An official announcement on the cancellation is expected on Wednesday, according to golf media personality Tom Hobbs, who runs the Flushing It social accounts, which first reported the news.
LIV Michigan had been scheduled for Aug. 27-30 in suburban Detroit at The Cardinal at Saint John's Resort, which is owned by the Pulte Family Charitable Foundation. Spokespeople for LIV Golf, Saint John's Resort, and the Pulte Family Charitable Foundation have yet to respond to a request for comment from FOS.
As of early Tuesday afternoon, there had not been any internal announcement or memo to players about the cancelation, one source told FOS. But the news does not come as a surprise to anyone inside or around LIV.
The team championship was one of two events FOS sources had pegged last month as being at the most risk of being canceled as a sentiment grew among those in and around LIV that the funding from the Saudi PIF—which has announced it would stop funding LIV after this season—could dry up even earlier than expected. The other event at most risk, per sources, was LIV's regular-season finale in Indianapolis Aug. 20-23, but that is currently scheduled to still take place.

#saint #resort

Bitcoin (BTC) bounced over the weekend session and was stabilizing above the $65,000 support as of Monday.
The cryptocurrency climbed more than 3% from its weekend low to reach an intraday high of around $65,722. Its recovery followed a pause in hostilities between the US and Iran, which sent oil prices sharply lower and improved risk appetite across global markets.
Brent crude consequently fell more than 4% toward $92 per barrel, while West Texas Intermediate dropped over 5% to around $84.
Falling energy prices eased concerns that the Iran conflict would trigger another inflation shock and force the Federal Reserve to maintain a more aggressive monetary policy stance.
Lower oil prices are typically supportive for speculative ***** ets because they can reduce inflation expectations, improve liquidity sentiment and limit upward pressure on bond yields.

#west

Micron Technology, Inc. (NASDAQ:MU) stock gained by more than 3% during Monday's premarket session as risk appetite improves alongside a firm overnight tape. Nasdaq futures are up 1.57% while S&P 500 futures have gained 0.93%.
The broader market rally coincided with a major development in the global memory-chip industry that could reshape long-term competitive dynamics.
ChangXin Memory Technologies (CXMT), China's leading DRAM maker, made a blockbuster stock market debut that underscores Beijing's push to build a domestic memory champion.
While the listing highlights rising competition in commodity memory, ***** ysts believe Micron remains well positioned in the faster-growing AI memory market.
CXMT raised 57.92 billion yuan, or $8.55 billion, after pricing its IPO at 8.66 yuan per share. The stock surged more than 531% to about 54.60 yuan, valuing the DRAM maker at roughly 3.68 trillion yuan and making it China's most valuable listed company.

#memory

Crude oil prices dropped sharply on Monday as investors unwound geopolitical risk premiums following indications that tensions between the United States and Iran may be easing. The selloff erased much of the rally seen last week, when fears of a wider conflict briefly pushed Brent crude close to the $100-per-barrel level.
By 06:11 GMT, Brent crude futures were down 6% at $90.93 per barrel after briefly falling below $90 earlier in the session. U.S. West Texas Intermediate (WTI) crude futures declined 6.1% to $83.83 per barrel.
Last week, Brent climbed to around $100 a barrel after the conflict expanded beyond the Strait of Hormuz into the Red Sea, raising concerns over Middle Eastern oil exports.
However, market sentiment shifted after Washington paused its military campaign following 13 consecutive nights of strikes, allowing additional time for diplomatic negotiations after weeks of escalating hostilities.
Iran quickly responded to the move. According to Reuters, an Iranian official said Tehran would halt retaliatory attacks provided the United States maintained its suspension of military operations. Both governments have nevertheless indicated they are prepared to resume military action if negotiations fail.

#united #Iran

DUBAI, July 28 (Reuters) - Iran has proposed to Oman a temporary arrangement to reopen the Strait of Hormuz ‌under which one direction of traffic would pass through Iranian ‌waters and part of the opposite route would also be in Iranian waters, Deputy Foreign Minister Kazem Gharibabadi told state television on Tuesday.
Gharibabadi said Tehran rejected an Omani proposal for an equal division of transit routes between the two countries, saying such a plan did ‌not address Tehran's security ⁠concerns until long-term regional stability is achieved.
He said the Strait of Hormuz would remain closed if Muscat ⁠rejected Iran's proposal, adding that Tehran had never recognised the southern route along Oman's coast.
Gharibabadi also said Tehran had made it clear to Muscat that it no longer recognised the Traffic Separation Scheme (TSS), ‌arguing that this pathway roughly in the middle of the waterway lies mostly within Omani waters and runs contrary to Iran's need to monitor transiting vessels after being attacked by the U.S. and Israel in late February.
The TSS, adopted by the International Maritime ‌Organization, is currently unusable due to the risk of mines and has been replaced with Iran's northern route and Oman's southern route.

#route #tehran #muscat #TRAFFIC

The Dallas Cowboys held their annual press conference to start training camp on Tuesday, and the idea of the offseason being free of drama came up a lot at the beginning.
Jerry Jones noted that he liked that perception and then matters turned to what lies ahead instead of what is in the rearview mirror. In a very non-Jerry way, the team's owner, president, and general manager was expressing such confidence in the group set to start out in Oxnard by saying that he would be willing to risk future ****** ets in the name of helping them.
Obviously that is a hint that Jones could orchestrate a trade to help the Cowboys. In fact, he said that he specifically spoke to an NFL team about "something" on Monday. It is worth noting that on Monday it was reported that Tampa Bay Buccaneers defensive tackle Vita Vea requested a trade. That could just be coincidence, though.
As this conversation was going on, Jerry was asked why he and the team moved on from the Maxx Crosby situation after Crosby's trade from the Las Vegas Raiders to the Baltimore Ravens fell through. He thought long and hard and then was pretty pointed.
"We didn't. We did not walk away."

#jerry #cowboys #tuesday #oxnard

Local backlash and reliability concerns are challenging the vision of an AI boom built quickly using large off-grid data centers.
Why it matters: If giant projects stumble, trillions of dollars in AI investment and the industry's plans to rapidly expand data centers could be at risk.
The big picture: In an effort to speed AI development, some companies are building data centers powered mainly by onsite generation rather than waiting years to connect to the electric grid.
There are 59 data centers with a combined capacity of about 90 gigawatts that plan to build their own power "behind-the-meter" using sources like gas turbines, generators and fuel cells, according to a report from research firm Cleanview.
A smaller subset is trying to run large campuses mostly on behind-the-meter power as a way to move more quickly than the local utility and the grid can.

#centers #large #power

MIAMI GARDENS ― About seven Miami Dolphins receivers took up quarterback Malik Willis on an offer to do voluntary workouts in Jacksonville this summer.
"I'm just glad that they had a little time to spend and we can steal a couple reps before we get in the training camp," Willis said on the day training camp opened.
Four of the known receivers were Malik Washington, Greg Dulcich, Seydou Traore and Cole Turner.
What did Willis takeway from the extra work?
"Little things that you probably don't notice just looking around like who gets out there breaks faster, who I can throw to a little earlier than later, who likes it right on them or do they like it above their head?" Willis said. "I mean, just all those type of things that can help you be successful as far as minimizing risk."

#gardens

Our ******* ysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
On one hand, UPS beat on everything that mattered this quarter. EPS of $1.76 against $1.66 expected, revenue of $22.8 billion against $21.81 billion expected, and raised full-year guidance on top of it. On the other hand, the stock fell 8% anyway, because Wall Street also got to see UPS' third-quarter outlook.
The best line of the whole call, though, came from CEO Carol Tomé, who said, "if you ignore Amazon and the volume that we intentionally made available to the market, we actually grew our volume in the second quarter." Which, sure, if you ignore the baseball playing, the Mets look great this year. Half the companies in America would probably love the chance to report earnings with an asterisk that says "excluding our biggest, most demanding customer, everything here looks fantastic." Tomé is just the one honest enough to say it out loud on a recorded call.
The Amazon divorce is real, though, and mostly finished. UPS has cut roughly 2 million pieces a day of what it calls "lower quality Amazon volume," stripping out about $4.5 billion in related costs so far, on purpose, in exchange for a leaner network it insists will pay off as volume grows elsewhere. Domestic revenue rose 6% on higher revenue per piece, international jumped 12.5%, and healthcare logistics cleared $3 billion for a second straight quarter, with Tomé bragging UPS is the only carrier offering true end-to-end healthcare delivery on its own ******* ets.
One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.

#revenue

SEOUL, South Korea (AP) — South Korean authorities ordered civilians to evacuate on Tuesday after a suspected white phosphorus leak at a U.S. military base near the capital, Seoul.
Officials in the city of Pyeongtaek urged nearby residents to move to a safe location and avoid skin exposure after the leak at the Osan Air Base was detected at around 5 p.m. The alert was lifted several hours later following the completion of decontamination work, according to text messages sent out by the city.
The U.S. 51st Fighter Wing said it established a 300-meter cordon around the base "out of an abundance of caution" after experts conducting a routine inspection identified white phosphorus crystallization that left residue inside a munitions crate.
An explosive ordnance disposal unit was deployed and response plans were immediately activated to ensure the munitions remained fully contained, it said in a statement.
The cordon was lifted after emergency response personnel mitigated the situation, allowing the base to return to normal operations, it said. There were "no injuries resulting from this situation and no risk to personnel on or off installation."

#seoul #phosphorus

Morgan Stanley's new spot Solana ETF (MSOL) holds actual SOL tokens on NYSE Arca and charges a competitive 0.14% annual fee.
SOL has dropped 41% year-to-date and 60% over the past year, making MSOL a high-risk bet despite 136% gains over five years.
Don't wait: the ****** yst who called NVIDIA in 2010 just revealed his top 10 AI stocks. See the full list FREE now.
Morgan Stanley has entered the spot crypto ETF market with the launch of the Morgan Stanley Solana Trust (NYSEARCA:MSOL), a fund that holds actual Solana tokens and is listed on NYSE Arca. It is the firm's first exchange-traded product tied directly to a single cryptocurrency, and it arrives at a moment when Solana, the blockchain once best known for hosting meme coins, is trying to sell itself to Wall Street as serious financial infrastructure.
The trust charges a unitary Delegated Sponsor Fee accrued daily at an annualized rate of 0.14% of the Trust's net ****** et value, or about $14 a year on a $10,000 investment. According to the prospectus, Morgan Stanley Investment Management Inc. agrees to pay the trust's ordinary operating expenses out of that fee, excluding taxes and extraordinary or litigation expenses. The sponsor is a wholly owned subsidiary of Morgan Stanley, one of the largest ****** et managers in the world.

#sponsor

This story was originally published on QSR. To receive daily news and insights, subscribe to our free daily QSR AM Jolt.
Whataburger announced QSR finance veteran Ryan Moore as its next Chief Financial Officer. Moore will join Whataburger July 31, bringing deep restaurant experience to help guide the company's financial strategy as the brand continues to grow.
"Ryan is a proven financial leader with deep experience in the restaurant industry and a strong track record of helping brands navigate periods of meaningful growth," said Whataburger President and CEO Debbie Stroud. "He's a collaborative leader who understands that when you invest wisely in your people, your operations and the customer experience, stronger financial results follow. He also understands how to create sustainable growth while protecting the qualities that have made Whataburger an iconic brand for 76 years. I'm excited to welcome Ryan to our leadership team as we continue building for the future."
Moore's 16 years of restaurant finance leadership include six years as Chief Financial Officer of Torchy's Tacos and 10 years at Taco Bell, where he served as Vice President of Finance. His experience includes helping restaurant brands grow beyond their core markets, aligning investment with growth and preparing organizations for their next stage.
"Whataburger is an iconic regional brand with the opportunity to become a national player," Moore said. "Success means finding the right way to share Whataburger with people who have not yet had the opportunity to experience it, while keeping the core essence and heart of the brand. It means making the right investments, taking the right risks and adapting thoughtfully as we enter new markets."

#whataburger

The New Orleans Saints built a deeper, more balanced roster in the team's second offseason under head coach Kellen Moore. They made additions across the offense and defense that appear to have raised the team's ceiling ahead of training camp.
Keep in mind that these rankings weigh production, talent, depth, and upside. Positional value is not considered, as you can see from the highest-ranked position. This is strictly about the quality of each room.
Travis Etienne Jr. produced 1,399 scrimmage yards and 13 touchdowns with the Jacksonville Jaguars last season. Pairing him with Alvin Kamara and several capable backups makes this the roster's deepest room. Even a player of Kendre Miller's talent and upside is at risk of getting cut.
Kelvin Banks Jr., David Edwards, Erik McCoy, Cesar Ruiz, and Taliese Fuaga are a starting five that has no weak link other than injury and availability. This line, if it can stay fully healthy, has a top-10 ceiling. There shouldn't be any issues with time-to-throw for Tyler Shough.
Chris Olave is coming off of a season that saw him catch 100 passes for 1,163 yards and nine touchdowns. Now, Jordyn Tyson arrives via pick No. 8 in the 2026 NFL Draft. Adding Bryce Lance, Devaughn Vele, Mason Tipton, Bub Means, Ja'Lynn Polk, and others to this group — and that's what makes it fall into the top three.

#talent #upside #season #orleans

Myles Garrett is heading into his 10th NFL season, and his first with the Rams. If he has the kind of big year the Rams are hoping for, he could break the NFL record for the most sacks ever in a player's first 10 seasons.
Through nine years, Garrett has 125.5 career sacks. The record for the most sacks in a player's first 10 seasons is 145, set by Reggie White in his 10th NFL season, in 1994. So if Garrett gets 20 sacks this season, he'll break White's record.
It's worth noting that the record has an asterisk: Official NFL records for a player's sack total have only been recorded since 1982. Deacon Jones has the unofficial record, with 155 sacks in his first 10 seasons.
Garrett set the NFL record for sacks in a season last year, when he had 23. So a 20-sack season is possible for him this year.
After Jones and White, Jared Allen has the next-most sacks through 10 seasons, with 128.5. Garrett will almost certainly get the 3.5 sacks he needs to surpass Allen.

#first #seasons

Wings' Alanna Smith update is a trade plan no one saw coming originally appeared on The Sporting News. Add The Sporting News as a Preferred Source by clicking here.
Alanna Smith's 2026 season hasn't gone according to plan.
Three months ago, Smith -- fresh off sharing Defensive Player of the Year honors with A'ja Wilson -- signed a three-year max contract to anchor the revamped Dallas Wings' frontcourt.
But just days before the Aug. 2 trade deadline, Smith and the Wings might be headed for a divorce.
MORE: Sparks risk repeating familiar mistake with Kelsey Plum trade plan

#wings #smith #trade #alanna

Liverpool's summer has reached the point where the shape of the squad starts to come into view, and the message from The Athletic is clear enough. The headline issue is at the top end of the pitch. Bradley Barcola is the one they want, the one they rate highest, and the one who would signal ambition at the beginning of Andoni Iraola's reign.
That matters, because this is not a normal reset. Liverpool are trying to recover direction after a turbulent campaign, move on from the post-Arne Slot fallout, and hand a new head coach the tools to build something that looks fast, aggressive and dangerous. There is no point dressing it up. They need quality, they need depth, and they need clarity.
According to the report, "Bradley Barcola remains Liverpool's top target as they look to recruit an elite replacement for Mohamed Salah." That line lands heavily because it frames the whole market for Liverpool. Replacing Salah is not a standard bit of squad maintenance. You do not replace years of goals, ******* ists, fear factor and reliability with a hopeful punt. You need a player with real pedigree, and Barcola clearly fits the bill in Liverpool's thinking.
There is a seriousness to this pursuit. The report states, "Signing the 23-year-old France international would represent a major statement of intent at the start of new head coach Andoni Iraola's reign, but agreeing a deal with Paris Saint-Germain won't be straightforward." That feels like the truth of it. Liverpool can identify the right player, they can make him a priority, but getting him away from Paris Saint-Germain is another matter entirely.
The wider market context in the same report explains why. PSG have set an eye-watering valuation and Liverpool are far from alone in coveting elite attacking talent this summer. Even so, if Liverpool are serious about refreshing the frontline properly, there is no use blinking at the hard part. You either pay for top-class potential and production or you settle for less and hope. Liverpool have done enough hoping over the years to know how risky that can be.

#barcola #bradley #saint

Vinicius Junior will not return to Real Madrid training this week as uncertainty over his long-term future continues, with fresh contract talks scheduled in the coming days.
The Daily Mail reports the Brazil international's delayed return comes against the backdrop of ongoing negotiations over a new deal at the Santiago Bernabéu. Vinicius has entered the final year of his current contract, increasing speculation over his future despite Madrid's determination to retain one of their biggest stars.
Sky Sports News reported on Monday that Real Madrid are due to hold further discussions with the winger's representatives this week as they attempt to reach an agreement over fresh terms. The club remain optimistic of extending his stay, with manager José Mourinho keen to keep the 26-year-old at the heart of his project.
Arsenal are monitoring the situation closely as they explore options to strengthen the left side of their attack. The Premier League champions admire Vinicius, but no club-to-club talks have taken place and there is no indication that a formal approach is imminent.
Real Madrid's priority remains securing a contract renewal rather than entertaining offers. However, with Vinicius now inside the final 12 months of his deal, the Spanish giants could face a difficult decision if negotiations fail to produce a breakthrough. Rather than risk losing him on a free transfer next summer, they may eventually have to consider offers.

#return #week #fresh

Max Eberl and Bayern Munich have been busy in the summer transfer window through the FIFA World Cup season. As part of the changes to the squad, Bara Sapoko Ndiaye is set to be signed on a long term deal with the club. The Senegalese midfielder is expected to replace out the outgoing veteran and **** tuple champion Leon Goretzka.
Ndiaye had earned his favor from Vincent Kompany and got several opportunities with the first team in the second half of the season. Albeit not as risk taking as the sensational Lennart Karl, Ndiaye proved to be a robust midfielder who could hold his own against high pressing opponents. His awareness, technical skill and physical resilience saw him shuffle the ball smoothly at the back or find an occasional through ball. His one touch short passing is a special highlight of his composure.
Per Kicker's reporter Frank Linkesch, Ndiaye will be behind Joshua Kimmich, Aleksander Pavlović and Tom Bischof in the midfield order. Considering his age and experience, this is a very valuable position for his development. The full details are captured by iMiaSanMia below:
Despite their partnership, money was an important factor in the talks between Bayern and Gambinos Stars over Bara Sapoko Ndiaye. Bayern will pay a fee 'significantly under' €5m for the Senegalese international. Bara will take Leon Goretzka's spot in the squad and will be behind Kimmich, Pavlović and Bischof in the pecking order. Bara is highly rated at the club and was also part of the reason Noël Aséko was sold to Frankfurt. He will begin pre-season training with Bayern in the coming days.
Formed in 2023, Bayern Munich tied up with LAFC to form Red&Gold Football, a joint venture to scout and aid in the development of talents from across the globe. Ndiaye's parent club Gambino Stars a renowned football academy became a partner of the joint venture. Per LAFC, the aim of the partnership is "to provide the top players of The Gambia and other West African nations with a controlled, self-determined path to the top European leagues as well as Major League Soccer (USA)."

#season #sapoko #senegalese #leon

Fighting across the oil-producing world is catching up with energy markets, which could soon be choked off by multiple choke points and shortages.
Over the weekend, the U.S. and Iran have paused their attacks on each other in the Persian Gulf while they engage in diplomacy. Iran and Oman are also in separate talks to reopen the Strait of Hormuz.
But the U.S. and Iran's neighbors are unlikely to accept any deal that recognizes Tehran's control over the narrow waterway. Meanwhile, Iran-backed Houthi rebels are threatening ships in the Bab el-Mandeb Strait, which Saudi Arabia has relied on to export its oil and bypass the Strait of Hormuz.
Ships can get around the Bab el-Mandeb Strait by using the Suez Canal to enter or exit the Red Sea, but the canal can't accommodate the largest oil tankers. There's also a risk that Iran could try to strike the Suez Canal, too.
"So we are starting to talk about the kind of 'no way out' scenarios because of this new Red Sea unrest," Helima Croft, head of global commodity strategy at RBC Capital Markets, told CNBC on Thursday.

#ships

Oil prices gave up earlier gains on Friday after reports that Pakistan is trying to broker a return to U.S.-Iran nuclear negotiations. China is strongly backing the effort as the conflict and the closure of the Strait of Hormuz continue to threaten its energy security and weigh on its economy.
Brent crude for September delivery fell 4.4% to trade at $96.36 per barrel at 1.35 pm ET while WTI crude for September delivery was down 3.6% to change hands at $88.86/bbl.
However, Standard Chartered says the latest pullback may prove temporary as Middle East oil market risk has expanded from one strategic chokepoint to two.
On Monday, Yemen's Houthi militant group imposed a targeted maritime blockade against Saudi Arabia, threatening to enforce it by blocking Saudi-linked vessels from transiting the vital Bab el-Mandeb Strait. The group claimed the blockade was a direct retaliation for a decade-long Saudi containment of Yemen as well as a recent Saudi-backed airstrike targeting Sanaa International Airport.
The threat immediately rattled oil markets, prompting multiple Saudi-linked very large crude carriers (VLCCs) to abandon planned transits through the Bab el-Mandeb Strait and instead reroute around Africa's Cape of Good Hope, adding up to two weeks to each voyage. Two days later, the Houthis followed through. The group launched ballistic missiles and drones at two Saudi oil tankers on Thursday, damaging both vessels and igniting fires onboard. Brent crude surged nearly $20 per barrel, briefly climbing above $100.

#brent #september

The Cincinnati Bengals made major changes to their defense this offseason, going big with the Dexter Lawrence blockbuster trade and spending money on some solid free-agent starters.
By doing so, the Bengals acknowledged their plan to build even an average defense through the draft didn't work. Now, they believe they have a good enough defense to seize on quarterback Joe Burrow's window to get them back to the Super Bowl. Everyone knows what to expect from Burrow and the Bengals' offense, which returns all of its starters.
That means all eyes are on the defense as the Bengals open training camp on July 29. Here are the players and position battles to keep a close watch on during training camp:
The pressure is on the Bengals' 2025 first-round draft pick after a disappointing rookie season, which was doomed from the get-go when Stewart made a boneheaded decision to hold out over language in his contract. Stewart was already a risky, boom-or-bust pick that many teams passed on, because of his inability to consistently get to the quarterback in college. Now it's time to find out if the Bengals are going to get any production out of him – or whether player personnel director Duke Tobin whiffed on another defensive pick.
Stewart is a major x-factor on an overhauled defensive line, because his performance this season will determine if the Bengals have to spend more money or draft capital on edge rusher again next year. The Bengals didn't pick up defensive end Myles Murphy's fifth-year option for 2027, in part, because they want to see if Stewart can replace him.

#pick #defensive #going

Interested in RTX Corporation? Here are five stocks we like better.
RTX and Lockheed Martin both beat Q2 earnings and revenue estimates, sending shares up 7% and 10%, respectively, and expanding their record contract backlogs.
Neither company's backlog yet reflects the resumed Iran conflict, while an unenacted 2027 NDAA could threaten multiyear defense procurement contracts if not signed by October 1.
Lockheed's backlog is nearly all defense-related with limited commodity risk, whereas RTX's backlog is 58% exposed to commercial aerospace risks like fuel prices and airline capacity.
The war trade has resumed in July, and earnings from two of the U.S.'s most prominent defense contractors are leading the tape. After weak Q1 reports and a tenuous Iran ceasefire, aerospace and defense stocks deepened their drawdowns as the market repriced the re-stock trade and institutional selling intensified. But now that the war is back on and Q2 reports from defense companies are rolling in, the repricing is being repriced. Does the defense trade have staying power this time?

#backlog #Iran #stocks

Argentina's massive shale oil and gas boom is going from strength to strength. The economically crisis-prone South American country yet again reported record monthly oil and natural gas production for May 2026. This couldn't come at a better time for Argentina and South America. Rising global geopolitical risks, notably due to war in the Middle East, and domestic economic hazards hold the potential to derail the significant economic gains Argentina has made over the last two years.
Ministry of Economy data shows May 2026 oil production hit an all-time high of 887,227 barrels per day. This represents a 0.6% increase month over month and is an impressive 19% greater than the same period a year earlier. Natural gas output also rose to 5.5 billion cubic feet per day, which was just shy of the record 5.7 billion cubic feet daily reported for July 2025. Indeed, May 2026 natural gas production was 5.4% greater than a month prior and a stunning 11% higher year over year.
It is the massive shale boom underway in the 8.6-million-acre Vaca Muerta formation that is responsible for this solid production growth. For May 2026, shale oil comprised 70.6% of Argentina's total oil production, while shale gas made up 69.8% of total output. Those ratios are at record highs for shale oil and gas as a proportion of Argentina's total hydrocarbon output. This is a game changer for Argentina, which recently overtook Colombia to cement its place as South America's fourth largest oil producer.
The Vaca Muerta shale formation, which is regularly compared to the Eagle Ford shale, is in the early stages of development. Drillers in the formation are still in that phase of deciding where the core producing areas are located. The Vaca Muerta is regarded as one of the most promising unconventional oil and gas plays globally, containing an estimated 16 billion barrels of recoverable oil and 308 trillion cubic feet of recoverable natural gas resources. This all points to tremendous future unconventional hydrocarbon production growth for Argentina.
Many of the Vaca Muerta shale formation's characteristics are superior to U.S. shales, even the prolific Permian, which is the largest oil-producing basin in the United States. The formation's shale is significantly thicker than the Permian, with it estimated to be at least double the width, allowing for more horizontal landings per pad and more frac stages per well. The Vaca Muerta's organic content exceeds that found in most U.S. shale plays, while its reservoir pressure is significantly higher.

#record

Before (SPCX) went public, I wrote that the extraordinary demand for its IPO might be the warning. The shares were priced at $135, climbed to $225.64, and closed Friday at $115.07. Investors who loved the stock six weeks ago now appear eager to sell it. The company has lost almost half its value since the high. Short sellers, meanwhile, are sitting on an estimated $15.5 billion of paper profits.
That first article was about scarcity and behavior. Too many investors chased too few shares, and the excitement around owning (SPCX) became more important than the price they paid.
When the stock returned to its IPO price, I wrote that $135 was not automatically a buy. An offering price is a number agreed upon during a sales process, not a declaration of fair value.
Both warnings have held up. But markets move, and the risk has now moved with them.
The dangerous crowd is no longer only the one that chased (SPCX) higher. It may now include the investors who believe the decline has become an easy one-way trade.
I still think (SPCX) is expensive. At Friday's price, the company is worth roughly $1.5 trillion. Aswath Damodaran, the NYU professor known as the dean of valuation, estimated its equity value at around $1.3 trillion before the IPO. His largest concern was the value being attached to the artificial-intelligence business, where the ***** umptions are much harder to defend than they are for Starlink or the launch operation. The bears have a case. My concern is that they are becoming too comfortable with it.
The Easy Part of the Short May Be Over
Around 360 million (SPCX) shares, representing roughly 56% of the freely traded stock, were out on loan earlier last week. Short sellers were not using the decline to take profits. According to Ortex, they were increasing their positions. That does not prove they are mistaken. Crowded trades can remain profitable for a long time. It does tell us what might happen if the news starts improving.
A short seller eventually has to buy the shares back. When a large part of the available stock has already been borrowed and sold, even a modest change in expectations can create demand from investors who are not buying because they suddenly love the company. They are buying because the trade is moving against them. This is the mirror image of the IPO. In June, investors were afraid they would miss the rise. Now short sellers are afraid they will miss the decline. A stock rising from $135 to $225 felt safer because other investors appeared to agree with the bullish story. A stock falling toward $115 makes the bearish argument feel more obvious because the price appears to confirm it. Price is evidence, but it is not always proof.
(SPCX)'s launch economics did not deteriorate by 49%. Starlink did not lose half its subscribers. The stock fell because expectations, positioning, and the supply of willing buyers changed.

#investors #price #shares #company

Barclays believes the next phase for equity markets will be determined by upcoming Big Tech earnings and a series of central bank meetings, as investors balance resilient corporate performance against mounting macroeconomic risks.
The bank said strong earnings have helped equities withstand higher bond yields, rising oil prices and renewed concerns over artificial intelligence spending, but warned that the investment backdrop is becoming more challenging.
According to Barclays, early second-quarter earnings have exceeded expectations on both sides of the Atlantic, reinforcing confidence in corporate fundamentals.
Despite higher interest rates and elevated energy prices, markets have remained resilient so far this reporting season. However, strategists led by Emmanuel Cau said oil prices and bond yields have now reached levels where downside risks are becoming more ****** ounced.
With no breakthrough in the conflict between the United States and Iran, Brent crude has climbed back to around $100 per barrel.

#bank #bond

The second wave of the US-Iran conflict shows no signs of letting up. Attacks by the Houthi militia have threatened to curtail shipping through the Red Sea. Russia's refineries are buckling under the weight of bombardment by the Ukrainian military.
For global oil markets, already in a precarious situation, critical logistical nodes just keep getting thwarted. Things keep going wrong. Oil prices have started rebounding in return, reaching levels not seen since the first weeks of June before the signing of the US-Iran memorandum of understanding as Brent futures (BZ=F) crossed $100 per barrel on Thursday.
"If a ceasefire does not materialize," Rystad Energy head of geopolitical ***** ysis Jorge León said, "the risk of a significant rebound in oil prices would be substantial."
As the war between the US and Iran initially began in late February, attention swung toward the Strait of Hormuz, a critical waterway responsible for roughly a fifth of the world's oil trade. Threats of violence and, eventually, direct attacks on vessels by Iranian military wings sent traffic through the strait collapsing, kicking off the largest energy supply crisis on record.
Six months down the road, as the conflict has reignited, the danger for the global oil market has diversified, no longer concentrated in a single waterway or oil-producing country. Instead, disruptions are accumulating across the infrastructure that carries crude from the Middle East, processes Russian oil into 11% of the world's diesel, and supplies fuel to consumers from Europe to Asia — and at a time when the market is already squeezed after half a year's worth of supply disruptions.

#energy

After the bruising their T20 side endured on the UK tour, this Zimbabwe series could be just the ideal fillip India needed.
Having finally recorded their maiden win under new T20 captain Shreyas Iyer after seven winless matches at the helm, India will look to secure an unassailable 2-0 lead when they take on Zimbabwe in the second T20I at the Harare Sports Club on Saturday.
Following a difficult run that saw them whitewashed by Ireland (0-2) and England (0-4), India's convincing sevenwicket victory in the seriesopener has restored some much-needed confidence.
Yet, even as the visitors look to build on that momentum, one player who will be under the scanner is explosive opener Abhishek Sharma.
Two years ago, Harare was the venue where Abhishek announced himself on the international stage with a breathtaking maiden T20I hundred in only his second game.
The stylish left-hander returns to the same ground searching for a spark after a worrying dip in form. Having begun the England series promisingly with scores of 59 and 43, Abhishek's returns thereafter have read 10, 16, 3 and 1. In Thursday's opener, his uncomfortable eight-ball 1 suggested a batter short on rhythm and confidence.
With competition for places intensifying, Abhishek knows he needs runs. Senior opener Sanju Samson, though absent on this tour, remains in the selectors' plans and has been named in India's squad for the Asian Games later this year. A substantial score in Harare would not only help India seal the series but also strengthen Abhishek's own case in a rapidly evolving T20 setup.
India, though, found a new hero in the opening match.
Teenage sensation Vaibhav Sooryavanshi smashed a stunning 18-ball fifty, becoming the youngest player to score a T20I half-century.
The 15-year-old, who had endured a difficult England tour where pacy bowlers like Jofra Archer tested him relentlessly with short-pitched bowling, responded in style against Zimbabwe.
Taking on Richard Ngarava and Blessing Muzarabani fearlessly, he produced a blistering innings that underlined why he is so highly rated.
Supported by Ishan Kishan's brisk 35 and an unbeaten 28 from skipper Iyer, Sooryavanshi ensured India chased down the target with more than six overs to spare.
Head coach VVS Laxman would have been equally pleased by the performance of India's revamped pace attack. The biggest positive was the return of Mayank Yadav, who made an impressive comeback after two injury-ravaged years. The Delhi quick finished with figures of 2 for 18 and consistently touched high speeds, with his opening delivery to Brian Bennett at 150 kmph indidcating that his pace remains intact.
Prince Yadav also showed signs of improvement after a lean England tour, while debutant Ashok Sharma displayed enough promise to suggest he could become another exciting fast-bowling option.

#zimbabwe #harare #iyer

By Alun John, Dhara Ranasinghe and Sophie Kiderlin
LONDON, July 24 (Reuters) - Renewed hostilities in the Gulf have revived stagflation talk, dimming hopes the interim deal between the U.S. and Iran had come in time for the world economy to avoid elevated inflation alongside stagnant economic growth.
Instead, oil prices are back at $100, European gas prices ‌are set for their biggest monthly jump since March and government borrowing costs are at multi-year highs on inflation angst as tensions escalate once more.
Trade frictions are adding ‌to the uncertainty facing consumers, businesses and investors. The U.S. on Friday imposed new tariffs of 10% and 12.5% on goods from 60 trading partners, including the European Union and China, likely raising prices further.
"Stagflation risk has been very much there for each economy since March, in different ways," said Alessia Berardi, head of global macroeconomics, Amundi Investment Institute.

#john