Oil prices rose 3% on Wednesday after the U.S. launched fresh strikes on Iran and reinstated a naval blockade of Iranian ports, renewing supply concerns through the Strait of Hormuz. Separately, China reported its slowest GDP growth since 2022 at 4.3%, fanning calls for stimulus. Meanwhile, ASML raised its 2026 sales forecast for the second time this year on surging AI chip demand, and SK Hynix shares jumped 8% as Asia tech stocks rallied.
Oil prices jumped more than 9% on Monday after President Trump reimposed a blockade on Iran in the Strait of Hormuz, threatening to reverse the recent easing of inflation. The Consumer Price Index had slowed to a 3.5% annual rate in June during a brief lull in fighting, bringing some relief to consumers. However, the renewed disruption to one of the world's most vital energy corridors — through which 20% of global oil supply passes — is expected to push energy costs higher, with analysts warning that gasoline prices could rise sharply in the coming weeks. The IMF projected world output growth would fall to 3% for the year, weighed down by high commodity prices.
South Korean memory chip giant SK Hynix made its Nasdaq debut on July 10, raising $26.5 billion in the largest IPO by a foreign company in U.S. history. Shares opened at $170, 14% above the offering price of $149, and finished the day up 13%. The listing follows SpaceX's record $85.7 billion float in June, making 2026 a landmark year for U.S. capital markets. SK Hynix controls over 50% of the high-bandwidth memory market, supplying every Nvidia H100, H200, and Blackwell GPU.
The International Monetary Fund projected world output growth would fall to 3% this year, driven down by high commodity prices and the escalating Iran conflict. The European Central Bank hiked interest rates for the first time since 2023 as energy costs surged, while U.S. job creation cooled sharply with payrolls growth of just 57,000 in June. Oil prices climbed further after the resumption of U.S.-Iran strikes threatened supply routes through the Strait of Hormuz.
The International Monetary Fund projected world output growth would fall to 3 percent for the year, driven by high commodity prices from the Iran war and persistent inflation. The US trade deficit widened in May as goods imports hit a record high. Oil prices climbed after new US strikes on Iran. The forecast reflects mounting economic pressure from the Middle East conflict alongside ongoing inflation challenges across developed economies.
South Korean chipmaker SK Hynix raised $26.5 billion in its US IPO on the Nasdaq, the largest-ever debut by a foreign firm, eclipsing Alibaba's 2014 record. The listing tests investor appetite for AI-related semiconductor stocks amid a global economic slowdown. Separately, the IMF projected world output growth would fall to 3% this year, pushed down by high commodity prices linked to the Iran war and persistent inflation.
Oil prices surged more than 6% on Wednesday after President Trump declared the US-Iran ceasefire 'over' and launched a second night of strikes on Iranian targets. Brent crude jumped $3.94 to $78.10 a barrel, while US stock futures slid more than 1%. The escalation threatens to reverse a months-long slide in oil prices that had returned them to pre-war levels. Global stock indexes fell as investors priced in renewed disruption to shipping through the Strait of Hormuz, a chokepoint for 20% of the world's oil supply. Analysts warned that passage through the strait could remain below 50% of pre-war levels for months, keeping energy prices elevated and adding to global inflationary pressures.
Global oil prices spiked above $95 per barrel on Wednesday after Iran attacked commercial tankers near the Strait of Hormuz in retaliation for US airstrikes, reigniting fears of a supply crisis. The NY Fed reported rising inflation expectations as energy costs climb. Amazon announced a $25 billion bond sale to fund infrastructure expansion, while EU leaders unveiled a carbon market overhaul that includes slower CO2 cuts and more free permits for industry.
The U.S. trade deficit widened in May as goods imports hit a record high, according to new data from the Commerce Department. Amazon aims to raise $25 billion from a bond sale, and Big Tech data center energy demand is driving up power bills for Rust Belt factories.
The US economy added only 57,000 jobs in June 2026, well below the 115,000 Dow Jones consensus forecast and signaling a sharp deceleration in labor market growth. The Bureau of Labor Statistics also revised down April and May figures by a combined 74,000. The unemployment rate ticked down to 4.2%, while average hourly earnings rose 3.5% year-over-year.