SoftBank reported a fiscal first-quarter profit that beat market expectations. The results were boosted by gains from its stakes in Intel and TikTok-owner ByteDance. This underscores the value of SoftBank's investment portfolio.
Court documents show that OpenAI has asked a U.S. judge to dismiss Apple's lawsuit accusing it of trade secret infringement. The case centers on allegations that OpenAI misappropriated Apple's confidential information. This legal move could shape the outcome of the dispute between the two tech giants.
Asian tech stocks fell, with SK Hynix plunging 10% following declines in Wall Street AI names. Despite heightened volatility, analysts remain optimistic on the tech sector, with J.P. Morgan saying the tech sell-off had not derailed the AI investment cycle.
SanDisk reported record Q4 2026 results, with data center revenue surging sequentially amid strong AI demand. The company also highlighted financial guarantees from New Business Models as a key support. This underscores its growing exposure to AI infrastructure spending.
NVIDIA is accelerating its push into the telecom operator market by seeking Chinese base station partners to develop AI-RAN base stations that combine communication and AI computing. The company aims to enter trial networks within the next two years, with Shenzhen Jiaxian Communication already collaborating for over six months on CUDA-based development. The cooperation has entered technical R&D, and a joint commercial entity for overseas expansion is possible.
A COSCO VLCC, the Yuanxihu, has arrived off Egypt's Sidi Kerir terminal to wait for loading after transiting the Suez Canal in ballast. Chinese VLCCs have resumed loading Saudi crude after a week-long pause but are now sailing around Africa instead of through the Red Sea. The rerouting shows shippers avoiding risks from the Houthi-declared naval blockade against Saudi Arabia.
President Trump said at a Las Vegas event that oil prices have recently fallen and stabilized, yet "maybe we'll have to let it go up again," though he hopes that won't be necessary. He gave no further explanation. AP notes that despite his assurances of an imminent end to conflict with Iran, oil tends to rise when tensions flare.
According to the Washington Post, Trump confronted Defense Secretary Hegseth at Camp David last week over being misled about critical ammunition shortages that threaten to limit military options against Iran. Hegseth blamed deputy Stephen Feinberg for failing to keep Trump informed. The shortages, especially of long-range guided missiles and air defense interceptors, contributed to Trump canceling new large-scale strikes on Iran, with ATACMS stockpiles nearly depleted.
Fed's 54.4% chance of 25 basis point hike in month 9 · According to CME's FedWatch, the market assigns a 54.4% probability to a 25 basis point rate hike in September, indicating a slight majority expectation for a hike. This reflects current market pricing of Fed policy.
SanDisk (SNDK.O) reported strong quarterly results with revenue and profit beating estimates, but its next-quarter revenue outlook missed expectations. Management cited a shift to high-value customers and strong data-center growth. The stock fell 8% in after-hours trading.
Iran's deputy foreign minister said Tehran and Oman are close to finalizing an agreement on commercial shipping through the Strait of Hormuz. Under the plan, the existing northern and southern lanes on the Iranian and Omani sides would close, replaced by a new transit model different from the past six decades. The temporary route is expected to be usable for two to four months; Iran denied talks with the US but said Washington indicated readiness to resume commitments under a previous memorandum of understanding.
Fed Governor Lisa Cook reiterated that she is prepared to support rate hikes if inflation does not slow, warning that policymakers may not have room to wait for inflation to return to target. While she backed the Fed's decision to hold rates steady in July, she said the longer inflation stays above target, the greater the risk of it becoming entrenched. Cook added that easing tariff effects, possible lower oil prices, and reduced AI-related pressures could provide a buffer that makes tightening unnecessary.
SanDisk issued guidance for fiscal 2027 first quarter, expecting revenue of 103 to 108 hundred million USD, compared to the market consensus of 108 hundred million USD. The guidance reflects the company's outlook on memory chip supply, demand, and pricing, which may influence investor expectations for its near-term performance.
According to foreign media citing an Iranian source and two regional officials, a proposed Iran-Oman agreement would give Iran control over ships entering the Gulf through the Strait of Hormuz. Iran seeks a fee of 5% to 7% of cargo value, while Oman discusses a lower rate and Washington wants no fee. Payments could nominally be voluntary, but shippers may have to pay under the threat of Iranian attacks.
Yemen's Houthi group said it fired a missile at a Saudi tanker in the Gulf of Aden, claiming the strike hit and forced the vessel to turn back. The group described it as part of its maritime shipping ban against Saudi Arabia and said Saudi tankers would not be allowed through Red Sea north-south routes until the blockade is lifted. Saudi Arabia has not yet confirmed the incidents.
Iran said it will not reopen the Strait of Hormuz to shipping until the US ends its maritime blockade of Iranian ports, even if an agreement with Oman is finalized. Tehran and Oman have agreed on shipping routes and are finalizing joint management arrangements, but Iranian officials say reopening depends on US commitments. Iran blamed US blockade and other hostile actions for continued insecurity in the strait.
Iranian Deputy Foreign Minister Gharibabadi denied that Iran is negotiating with the US over the Strait of Hormuz, calling US claims of talks incorrect. He said Tehran has received messages from Washington about readiness to resume commitments but has not decided whether to enter the next phase of a potential US-Iran understanding. This comes after Trump said the strait would reopen soon or face new attacks.
Iran's deputy foreign minister said a new agreement with Oman will close the temporary shipping route in the Strait of Hormuz. The new plan will be designed so that entry routes and some exit segments pass through Iranian waters. This could affect shipping arrangements in the area.
Iran's deputy foreign minister said a potential transit route in the Strait of Hormuz, agreed with Oman, may become effective in 2 to 4 months. This could affect regional shipping expectations. Details remain unclear.
According to Iran's Tasnim News Agency, Yemen is preparing for a full-scale confrontation with Saudi Arabia. Attacks on Saudi vessels have consolidated a blockade-for-blockade situation. In light of developments on the ground, Yemen's armed forces say previously safe shipping routes are no longer safe.
Iran's Foreign Ministry spokesman said talks with Oman over safe shipping lanes in the Strait of Hormuz have lasted two months and the two sides have agreed on geographic coordinates for the proposed route. The joint statement with main consensus is in its final review stage, provided no third parties obstruct the process. The spokesman also said Iran's foreign minister or parliament speaker has no immediate plans to visit Pakistan or Qatar, while acknowledging their continued efforts to ease tensions.
Iran FM: Iran-Oman Deal Doesn't Mean Hormuz Safe · Iran's foreign ministry spokesman said the Iran-Oman agreement itself does not mean passage through the Strait of Hormuz is safe. He added that a joint statement is in the final drafting stage.
Iran's foreign ministry spokesman said Iran and Oman have reached agreement on the geographic alignment of shipping routes in the Strait of Hormuz. The deal could help clarify navigation arrangements in the strategic waterway.
US Treasury Secretary Bessent said that during Warsh's tenure at the Fed, a key spectacle would be watching stenographers disguised as reporters, such as Nick Timiraos of The Wall Street Journal, reduced to covering Fed backroom gossip. He argued they cannot produce real economic or monetary policy analysis without being fed information.
According to Fox News, the US Treasury removed Iran-related sanctions from its website. A Treasury official said the removal does not represent any policy change toward Iran, the IRGC-Quds Force, or designated terrorist groups, and was part of routine administrative review regarding Baghdad Air.
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