Iran's IRGC claimed it attacked Amazon's data infrastructure in Bahrain with cruise missiles, a claim CNBC could not verify. This comes as U.S.-Iran hostilities escalate, impacting Strait of Hormuz shipping and global oil prices, with threats to Bab el-Mandeb Strait.
Vessel traffic through the Strait of Hormuz has significantly decreased following a U.S. blockade, renewed U.S. strikes on Iran, and Tehran's maritime ban. Data from Lloyd's List Intelligence, Kpler, and S&P Global show a sharp drop in crossings, reversing a period of normalization and raising concerns about global oil supply and prices.
The International Energy Agency (IEA) forecasts a 1 million b/d decline in global oil demand for 2026, the first since 2020. This contraction is attributed to the Iran war's disruption of Middle East production and exports, particularly via the Strait of Hormuz.
Stocks rebounded Thursday, with the S&P 500 gaining nearly 1% and the Nasdaq jumping over 1%, as investors dismissed concerns about U.S.-Iran conflict escalation. Meta Platforms plans to aggressively ramp up AI compute capacity, releasing its strongest model yet, Muse Park 1.1, with an API for developers. FedEx launched a dedicated healthcare unit, while Starbucks aims to use AI for in-house software tools.
President Trump suggested the U.S.-Iran ceasefire might be over, while the U.S. struck Iran overnight. The IOC provisionally lifted Russia's Olympic Committee suspension, allowing athletes for the 2028 Games. A study found fast walkers in their 80s are 50% less likely to develop cognitive decline.
Oil prices fell Thursday as investors weighed progress in U.S.-Iran indirect talks, easing concerns over Middle East supply disruptions. Brent crude futures dipped 1.4% to $70.47, and WTI futures were down 1.5% at $67.54.
South Korean stocks closed more than 2% lower on Wednesday, as investors took profits after recent AI-driven rallies in semiconductor shares. Uncertainty over U.S.-Iran peace talks and a weakening Korean won also contributed to the decline.
South Korean stocks, led by chipmakers, fell over 2% as investors took profits from recent AI-fueled rallies, while the Korean won weakened against the dollar. This market downturn occurred amidst uncertainty surrounding fragile U.S.-Iran peace talks, despite record high exports for South Korea in June.
South Korean stocks closed down over 2% on Wednesday, as investors took profits after recent AI-driven rallies in semiconductor shares. Uncertainty surrounding U.S.-Iran peace talks also contributed to the decline, with the Korean won weakening against the U.S. dollar.
Oil prices, Brent and WTI, saw significant monthly declines in June, dropping over 20%, as traders monitored potential US-Iran talks in Qatar. The mixed messages regarding these talks underscore the fragility of an interim peace deal reached earlier this month, which paused fighting impacting global oil flows through the Strait of Hormuz.
Oil prices fell Tuesday, with Brent crude down 21% and WTI down over 20% in June. Markets are monitoring potential U.S.-Iran talks in Qatar, though mixed signals from both sides and the fragility of a recent interim deal create uncertainty.
U.S. Treasury yields saw minimal change as investors anticipate key jobs data later this week. Meanwhile, a fragile pause in hostilities between the U.S. and Iran over the Strait of Hormuz was monitored, leading to a rise in oil prices.
South Korean stocks (KOSPI) fell 0.2% to 8,394.65 on June 29 amid renewed U.S.-Iran ceasefire concerns and rising oil prices, led by tech share losses despite brief gains from Samsung & SK hynix investment plans.
US farmers, including Ryan Poe, Kevin Deinert, and Dave Walton, are still grappling with high fertilizer and diesel prices despite global market drops and a tentative Iran peace deal. A USDA forecast predicts these costs won't substantially decrease until 2027, putting significant pressure on farm margins and the rural economy.
The US and Iran are in disagreement over whether Tehran will allow UN inspectors access to bombed nuclear sites. Meanwhile, a plan to evacuate 11,000 seafarers through the Strait of Hormuz is underway, and violence has resurfaced in Lebanon.
US Vice President JD Vance announced "great progress" in talks with Iran in Bürgenstock, Switzerland, despite "threatening" and "whining." Key outcomes include Iran allowing IAEA inspectors back and a potential deal involving frozen assets for US farmers and Iranian people.
US Vice President JD Vance stated that talks with Iran in Switzerland have made 'great progress' despite 'threatening' and 'whining.' Iran agreed to allow IAEA inspectors back, a move Vance called a 'major milestone.' A deconfliction mechanism is reportedly in place to prevent regional escalation.
Brent oil futures fell Monday after mediators announced a roadmap for U.S.-Iran deal within 60 days. Talks follow Trump's threats and Iran's Strait of Hormuz closure, impacting global oil shipments.
South Korean stocks closed at a record high Monday, driven by a surge in semiconductor shares. Progress in U.S.-Iran talks and strong performance from SK hynix boosted the KOSPI index, though the won weakened against the dollar.
South Korean stocks closed at a record high Monday, driven by a surge in semiconductor shares. Progress in U.S.-Iran talks and a rally in chipmakers like SK hynix boosted the KOSPI index, though the Korean won weakened against the U.S. dollar.
South Korean stocks hit a new all-time high Monday, driven by semiconductor shares and positive signs from U.S.-Iran talks. The KOSPI index rose 0.69% to 9,114.55, while the local currency weakened against the U.S. dollar.
South Korean stocks opened lower on Monday, with the KOSPI index dropping 1.08% following intensified uncertainty over U.S.-Iran peace negotiations after President Trump threatened strikes on Tehran.
High-level U.S.-Iran talks on an interim deal to end the war began tensely in Switzerland Sunday, with Tehran taking offense at President Trump's threats. Iran wants to discuss Lebanon first, while the U.S. focuses on the nuclear program and Strait of Hormuz.
US-Iran talks were delayed due to fighting between Israel and Hezbollah. Iran closed the Strait of Hormuz, and Trump threatened military action against Iran if needed. Vance expressed confidence in achieving peace in Lebanon despite strategic disagreements.
