markets

Hyunsoo Rim4/13/26

Brent crude surges past $100 again and stocks tick lower after Trump orders Hormuz blockade

Oil prices topped $100 a barrel once again and stocks fell in early trading after President Trump announced the US will blockade the Strait of Hormuz starting Monday.

After US-Iran peace talks in Pakistan failed to reach a deal over the weekend, Trump said Sunday morning in a Truth Social post that the Navy would block “any and all Ships trying to enter, or leave, the Strait of Hormuz.” US Central Command later confirmed the blockade would begin at 10 a.m. ET Monday, adding that vessels transiting the strait to and from non-Iranian ports would not be impeded.

Futures on international benchmark Brent crude rose nearly 8% to $103 per barrel, while US West Texas Intermediate crude also gained ~8% to $104 per barrel as of 5:30 a.m. Asia markets traded lower, with Japan’s Nikkei 225 and South Korea’s KOSPI falling 0.7% and 0.9%, respectively. Europe’s STOXX 600 was also modestly in the red, while S&P 500 futures were off 0.5%.

The early morning action is reminiscent of the early days of the war, with energy stocks catching a bid as oil prices jumped. Oil and gas producers including Occidental Petroleum, Devon Energy, Diamondback Energy, ConocoPhillips, APA Corporation, Coterra Energy, and EOG Resources all rose in premarket trading, alongside oil majors Exxon and Chevron, as well as refiners Marathon Petroleum, Valero, and Phillips 66.

Oil field services company Halliburton and natural gas producer EQT Corp. also gained, along with chemical makers Dow, Inc. and LyondellBasell, fertilizer company CF Industries, and natural gas exporter Cheniere Energy.

Airline and cruise stocks moved in the opposite direction, giving back last week’s ceasefire-driven gains as the anticipation of higher fuel costs once again weighed on both sectors. Delta Air Lines, United Airlines, and American Airlines were all down 2% to 3% in premarket trading, along with Royal Caribbean, Carnival, and Norwegian.

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Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

Web Summit Vancouver 2026 - Day Three

markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

Floridians Seek Employment Opportunities At Job Fair In Sunrise

Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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