The MOEX Index rose 2.76% to 2,136.11 points and the RTS Index advanced 2.86% to 857.49 points, driven by geopolitical news and surging commodity prices. Experts forecast continued recovery for the MOEX Index and stable ranges for the ruble against major currencies.
Tesla reported weaker-than-expected Q2 earnings per share despite revenue topping estimates, causing its stock to slide. The company faces rising operating costs due to AI and R&D investments, a strategic shift towards Robotaxi and Optimus robots, and increased competition from Chinese EV makers.
Ahead of the Federal Reserve's rate decision, prediction markets like Kalshi and Polymarket are experiencing significant institutional growth. Firms and AI agents use event contracts for price discovery and trader evaluation, with monthly volumes reaching billions, despite challenges in execution and potential for concentrated edge.
Australia's housing market has officially entered a downturn, with national capital city house prices falling by 1.4% and unit prices by 1.2% in the June quarter. This marks the first decline in over three years, driven by higher interest rates, affordability constraints, and waning buyer confidence.
Oil prices surged after President Trump threatened to bomb Iranian sites if ships in Hormuz are targeted, while Secretary of State Rubio stated Iran is not serious about a diplomatic resolution to the escalating conflict.
Brent crude hit $95, while tech stocks like SK Hynix and Nasdaq futures declined. GE Vernova, Capital One, AT&T, and Super Micro reported mixed to strong results. Nike is restructuring its China digital strategy, and analysts adjusted price targets for 3M, Danaher, and Arm amidst market volatility and AI buildout discussions.
Bitcoin has surpassed $66,000 for the first time since early June, extending its recovery despite thin spot market activity and derivatives traders paying heavily for downside protection. The rally is supported by long-term holders refusing to sell and recovering demand from US spot Bitcoin ETFs, but its sustainability depends on attracting broader spot buyers.
Samsung's new Galaxy Z Fold8 offers a fresh form factor, wider, shorter, and lighter, catering to smartphone video watching habits, but how does it compare to other eighth-gen foldables?
Stock futures are down after SpaceX announced its debut earnings report and share lock-up expiration. Oil prices surged over $95/barrel due to US strikes on Iran, while new US tariffs are signaled, and the Fed faced cybersecurity access issues with an AI model.
GSMA, a telecom industry body, estimates the cost of removing high-risk vendors like Huawei and ZTE from EU telecoms networks at €30-40 billion, significantly higher than the European Commission's €10-13 billion estimate, citing equipment replacement and reduced competition.
UK food price inflation has fallen to its slowest rate in nearly two years, driven by supermarket price wars and lower fuel costs. New Prime Minister Andy Burnham welcomes the news, but analysts warn of a potential rebound due to rising energy prices and renewed Middle East hostilities.
Mortgage rates continued their climb last week, with the 30-year fixed rate reaching 6.69%, the highest since last August. Despite this, total mortgage demand increased by 1.9% as homebuyers returned to the market, possibly due to less competition and price cuts, while refinance demand fell.
President Trump proposed tariffs up to 200% on imported generic medicines after a two-year grace period, aiming to boost U.S. production. The generic drug industry, operating on thin margins, warns that shifting manufacturing domestically within the timeframe is challenging and could lead to market exits or price increases, impacting patient access to affordable medicines.
Europe's June heatwave caused an estimated €2bn loss and destroyed 9m tonnes of grain crops, impacting farmers' income and raising concerns about food security and commodity prices. France, Hungary, and Spain are among the hardest hit.
US-listed spot Bitcoin ETFs recorded their sixth consecutive day of net inflows on Tuesday, adding $203.1 million and totaling $930 million over the streak. This occurred as Bitcoin traded above $65,000, improving broader crypto market sentiment from 'extreme fear' to 'fear'.
India, the world's third-largest crude consumer, is advancing alternative fuels like ethanol from corn and biogas from animal waste to bolster energy security against rising global oil prices and potential Russian supply curbs. The country mandated 20% ethanol blending in petrol, but faces public backlash over vehicle damage concerns.
Norway's state oil company Equinor reported nearly doubled profits of $11.5bn in Q2, exceeding predictions, driven by increased oil and gas production and soaring prices due to the war against Iran and a blockade in the Strait of Hormuz.
UK food price inflation hit a nearly two-year low in June, driven by supermarket price wars and lower costs for staples like margarine and sugar. Overall inflation fell to 2.6%, but analysts warn of a potential rise due to higher energy prices in July. The new government announced measures to ease household costs.
Oil prices rose 4% after the 11th consecutive night of US strikes against Iran, with Secretary of State Marco Rubio citing the Strait of Hormuz as a key point of contention. Global benchmarks Brent and WTI crude futures saw significant gains, while market focus also returned to inflation and potential Federal Reserve rate hikes.
Amazon has been using various tactics to pressure suppliers into raising prices on rival retailers' sites, according to internal emails and court claims, potentially affecting consumer prices across platforms.
Market forecasts indicate a doubled likelihood of a Reserve Bank interest rate hike as escalating Middle East tensions drive fuel prices higher. Brent crude surged 23% to near $US90/barrel, impacting Australian motorists and raising stagflation concerns for the economy.
US Defense Secretary Pete Hegseth testified before the Senate, revealing the US-Israel war on Iran has cost $37.5bn and requesting $88bn in supplemental funding. Lawmakers expressed fury over rising costs, 17 American deaths, and the conflict's spiraling nature, questioning the administration's strategy and constitutional authority.
Queensland's Liberal National government buried a report by domestic violence victim-survivors that criticized police handling of cases and advocated for civilian review mechanisms, despite promises to prioritize victims in justice policies.
US Defense Secretary Pete Hegseth confirmed the official cost of the US-Israel war on Iran at $37.5bn during a Senate hearing. This figure, higher than previous estimates, comes amidst ongoing conflict, US strikes, and threats against Iran, raising concerns about the US defense budget and energy prices.
