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• Hormuz traffic drops to a two-month low after renewed US and Iran strikes raise safety risks

  Shipping data revealed that the number of tankers traversing the Strait of Hormuz dropped to its lowest level in two months in the last day, after renewed strikes between Iran and the U.S.?and attacks against vessels raised safety concerns. Shipping industry sources say that vessels are increasingly turning off their public AIS?transponders. This makes it difficult to count the total number of ships on the waterway. According to Kpler's analysis, based on the data available, oil and gas tanker traffic has fallen to its lowest levels since May 25. In a recent report, ship broker Gibson stated that the world would be in a worse position if the renewed escalation of the strait led to another extended closure of Hormuz. The global inventory has been rapidly depleted over the past few months. This is a recipe that will lead to a much tighter market, higher prices, and heightened downside risks for tanker markets. According to LSEG's and MarineTraffic's?ship tracking data, the Sea Faith oil tanker had a destination of Sohar. In an advisory issued on Sunday, the Joint Maritime Information Center of the U.S. Navy (JMIC) reported that commercial traffic in the Strait of Hormuz had "continued to be reduced". The traffic patterns continue to reflect operator caution after recent attacks. Satellite imagery of July 11, reviewed by, shows that at least three pairs of tanks were involved in ship to ship transfers outside of Hormuz in the Gulf of Oman. Transfers from ship to ship (STS), as the name suggests, involve oil being transferred from one vessel into another. Since the conflict began in February, STS transfers have allowed faster oil deliveries to?waiting ships who do not have to travel through Hormuz. One shipping official stated on Monday that "some ships are slipping into and out". The source stated that "this has to be seen as a managed war now, similar to the Houthis at the Red Sea," referring to Yemeni militias who paralysed the traffic through the Bab al Mandeb Waterway for almost two years, before calling a truce in 2026. TRUMP AND IRAN DIFFER ON STRAIT STATUS Central Command reported that U.S. Forces completed another round of strikes on Iran Sunday, hitting multiple targets in different locations with precision munitions. Donald Trump, the U.S. president, said that the Strait of Hormuz was open for commercial traffic on Sunday. Iran had earlier declared that the strait was closed after an Iranian vessel struck a ship that was travelling on a route that wasn't approved. The?Revolutionary Guards of Iran said Monday that two ships were stopped in the Strait of Hormuz by their navy last night after shutting down?their?systems. The?Revolutionary Guards did not name the ships. JMIC reported that an unknown projectile caused damage to a container ship on Sunday. The fire was started in the engine room. TRAFFIC SLOWDOWN Kpler data showed that six vessels crossed the strait Sunday, the lowest number for five weeks. The data revealed that the Very Large Crude Carrier Humanity was loaded with 2,000,000 barrels Iranian oil and another tanker called Capetan Andreas carried about 500,000 barrels Kuwaiti oil. Three empty tankers were also seen entering the Gulf to load oil. The data showed that most of the tankers turned off their transponders as they crossed the strait. Ship-tracking data shows that no liquefied?gas tanks entered the Strait of Gibraltar over the weekend. Kpler data indicated that between July 10th and 12th, one tanker owned by Abu Dhabi National Oil Co left the strait. The vessel was headed for Dahej in India. Reporting by Jonathan Saul and Florence Tan; Editing and editing by Lincoln Feast, Ros Russell, and Siyi Liu

• China's first five-year plan aims to boost consumption

  China has set a target of retail sales of 60 trillion yuan (8.85 trillion dollars) by 2030 as part a five-year plan to increase consumption and raise household incomes. The plan, which was approved by the State Council on Monday and released, aims to increase service consumption in elderly care, childcare and healthcare, as well as?culture, sport, tourism and education. The report also calls for a stronger?tourism related spending, an increase in visa-free entries to more countries and?more international direct flights to Europe and the U.S., as well as countries participating in?Belt and Road Initiative. China's first 5-year plan aimed at boosting consumption aims to increase consumption rates and the role of consumption in driving economic growth. Beijing will promote a new generation of consumption models, including AI-powered consumption and green consumption. The plan highlights the need for households to increase their spending power through stronger employment, higher wages and more property income. According to the plan, China has pledged to remove any "unreasonable restrictions" on areas like car purchases, housing, and approvals for entertainment events. The plan stated that fiscal and financial policies should place greater emphasis on direct benefits to consumers, livelihood spending, and infrastructure related to consumption.

• Bahamas grounds Flamingo Air after 10 die in plane crash

  The Bahamas' Prime Minister,?Philip Davis, said that 10 people were killed after an aircraft crashed on one of the Caribbean country's islands. Davis stated during a news conference that "once again, tragedy has marked a chapter of our nation's history." "Today was a celebration, but it has now become a mourning day." According to the Bahamian Aviation Accident Investigation Authority, the crash occurred at around 1:00 pm EDT, after the Cessna 402. took off from Lynden Pindling International Airport on its way to San Andros Airport. The authority stated that the aircraft "reportedly experienced difficulties" before it crashed into bushes. Shanta knowles, the police commissioner, said that there were nine passengers on board and one pilot. She said that one person survived at first but died later. Flamingo Air is a Bahamas-based carrier that operated the flight. The Ministry of Transport has suspended the airline’s air operator's certificate as a "precautionary safety measure." Flamingo?didn't immediately respond to an inquiry for comment. However, they told local media that "at this time, the details are?being gathered and we are committed?to cooperating with relevant authorities." (Reporting and editing by Jasper Ward, Washington)

• The US pump pain worsens as more US-Iran conflict lifts oil prices

  After weeks of declines in gasoline prices, U.S. motorists have experienced a new spike after renewed fighting between U.S. and Iran has pushed crudeoilprices up to their highest weekly increase?in eight week. The global refining industry is experiencing disruptions, and the 'U.S. Fuel exports tightened the supply further, and AAA data show that average pump prices increased 6 cents to $3.88 per gallon this week. This was the largest weekly increase since mid May. The renewed fighting between Iran and the U.S. over the Strait of Hormuz has sent energy prices sharply up this week. The U.S. summer driving period is in full swing and the stubbornly high gas prices are a political hot button for President Donald Trump. His Republican Party is running a campaign to win a thin majority in the U.S. Congress during the November midterm elections. Trump has accused oil companies of price gouging. Alex Hodes is the director of energy market strategy at StoneX. He said that gasoline prices rose along with the huge move up in crude oil following the attacks on several tankers transiting the Strait of Hormuz. Brent, the global oil futures benchmark, was set to gain 5.5% in a week after several tankers were attacked while transiting through the Strait of Hormuz. The U.S. and Iran then exchanged tit-for -tat strikes, and Washington revoked a license allowing the sale of Iranian crude oil. Oil flows in the Strait of Hormuz are still well below their pre-conflict level, which has stoked fears that minor disruptions to oil markets could have global repercussions. Before the beginning of the conflict on February 28, the Strait of Hormuz carried around 20% of global daily oil and gas supplies. Trump has pushed gasoline retailers to reduce prices more aggressively. The administration has asked the U.S. Justice Department investigate possible price gouging of gasoline and introduced a price-cutting program offering discounted gasoline in some locations throughout Pennsylvania and New Jersey. Hodes said that the tightening of fuel supply is only part the story. He cited unplanned refinery shutdowns in Russia and the U.S. as the main cause. The Russian refining industry has been affected by repeated attacks that have reduced fuel production, causing shortages. Moscow has cut diesel exports while increasing gasoline imports. This has tightened global fuel supplies, and raised prices. Tom Kloza is the chief energy advisor at Gulf Oil. He said that Russian production of gasoline, diesel and jet fuel has been decimated, with months?of downtime to come. In the U.S., refinery outages have further strained supplies, including disruptions at Marathon Petroleum's 146,000-barrel-per-day refinery in Detroit, Michigan, and Delta's 190,000-barrel-per-day refinery in Trainer, Pennsylvania. The Energy Information Administration reported on Wednesday that U.S. gasoline stocks fell by 1.9 millions barrels to 212.1 million barrels. This is nearly 10 million below the average five-year stockpile. Denton Cinquegrana is the chief oil analyst for Dow Jones Energy. He said that gasoline stocks in all U.S. areas are below their seasonal norms, but this shortfall was most pronounced along the Gulf Coast. Last week, inventories in the U.S. Gulf Coast region, which produces a large portion of the nation's refined products, dropped to 76.4 million barrels, well below the average for the past five years of 82.3 millions barrels. The loss of Middle Eastern barrels and Russian barrels on the global market has also allowed U.S. refiners to enjoy higher margins for their fuel as swing suppliers. U.S. Petroleum Products Exports Hit a Weekly Record of 8,7 Million bpd In the Week to July 3 EIA?Data showed. Houston traders are betting on whether the U.S. Gulf of Mexico will see 2-million barrels per day for distillate exports. Kloza wrote this to his clients Thursday. Summer driving in the U.S. from June to early September is a time when gasoline consumption increases. However, production of summer blend fuels, which are more expensive, raises refinery costs and therefore pump prices. Cinquegrana stated that prices are likely to rise in the near future. (Reporting from Nicole Jao, New York; Additional Reporting by Shariq Khan; Editing Liz Hampton & David Gregorio).

• FAA extends Chicago O'Hare flight restrictions for another year

  U.S. Federal Aviation Administration announced on Friday that it would extend 10% flight reductions?for an additional year at Chicago O'Hare in order to avoid delays and?address congestion concerns at the busy United Airlines/American Airlines hub. In April, the agency announced that it would limit O'Hare's arrivals and departing flights to 2,708 per day between May 17 and October 24. This forced both major airlines to'scale back' their plans and maintain operations at last year's level to avoid a'repeat' of widespread delays. The FAA announced Friday that the restrictions would now continue until "the end of 2027". The airlines had planned 3,080 daily flights this summer, which is about 15% more than last year. This move is evidence that the Trump administration has taken a hard stance in the 'capacity race' between two major carriers at the most important hub of the nation, highlighting the limitations of growth for airports with limited infrastructure. O'Hare still experienced significant delays over the past few weeks due to runway construction and weather problems. The FAA said that O'Hare's excessive scheduling was due to the competitive scheduling dynamics of the two airport's largest carriers. They rejected the idea of using the 'newer summer schedules 2026' as a baseline because it could encourage airlines to submit unrealistic schedules to improve their negotiation position. United and American are both expanding in Chicago as they compete for market share at the nation's most important hubs. The performance of last summer showed the risks. Congestion and construction slowed traffic, and only 56% of departures were on time and 58% arrivals. Initially, the restrictions were advertised as temporary measures tied to construction. They were set to expire by the end of summer travel season. (Reporting and Editing by Franklin Paul, Aurora Ellis and David Shepardson)

• Wall Street closes higher as investors look to earnings season

  S&P 500 ended 'just short of a new record high' on Friday as a Nasdaq debut? by South Korea’s SK Hynix fueled optimism for memory-chip makers. Investors also looked forward to the quarterly earnings season, which begins next week. Artificial intelligence is back in the spotlight following SK Hynix's $170 opening price, which was 14% higher than its initial offering price. The semiconductor company raised more than $26 billion by selling American depositary receipts at $149 per piece on Thursday. U.S. stocks increased after U.S. president Donald Trump stated that Iran asked for continued talks, and the U.S. agreed. The U.S. had agreed to the ceasefire, but said that it was "over." The attacks between the U.S. & Iran this week have re-ignited concerns that high energy costs could fuel inflation and force Federal Reserve to raise interest rates. Next week, the earnings season for the second quarter will begin with reports from major U.S. financial institutions. According to LSEG, analysts expect S&P500 earnings to increase by 24% compared to the previous year. Technology companies are expected to drive much of this growth. Terry Sandven is the chief equity strategist of U.S. Bank Wealth Management, Minneapolis, Minnesota. The banks will provide us with a good indication of the economic strength and how consumers and businesses are faring. The S&P 500 trades at 20 times expected earnings due to the increased profit estimates of corporations. This is down from 21 earnings multiples in late May, although the benchmark is near record highs. The AI rally this year has been fueled by the expectations that hyperscalers will spend heavily. Concerns over inflated valuations and profit-taking have recently caused volatility in the sector. The preliminary data shows that the S&P 500 rose 28.72 points or 0.38% to 7,572.36 while the Nasdaq Composite increased 77.52 or 0.25% to 26,273.21. The Dow Jones Industrial Average grew 148.28?or 0.2% to 52,635.69. Meta Platforms has risen to its highest level in April. Moderna had its worst day for over a month. The upcoming?June data on inflation will provide new insight into the?Fed's likely monetary policies.?Fed chair Kevin Warsh also has a scheduled testimony before the House Committee on Financial Services. Delta Air Lines fell, even though it forecasted a third-quarter profit that was above expectations.

• Wall St. slightly higher after SK Hynix's impressive debut limits losses in chips stocks

  S&P 500 climbed to a new record high on Friday as a 'blockbuster Nasdaq debut by South Korean chipmaker SK Hynix fueled optimism for semiconductor?stocks. Investors also looked forward to the quarterly earnings season, which begins next week. Artificial intelligence is back in the spotlight following SK Hynix's $170 opening price, which was 14% higher than its initial offering price. This high-profile U.S. IPO brought artificial intelligence to a new level. Memory-chip maker raised $26.5 billion by selling American depositary receipts at $149 per piece on Thursday. U.S. stock prices increased after U.S. president Donald Trump stated that Iran asked for continued talks, and that the U.S. agreed. However, the June ceasefire is "over." The attacks between the U.S. & Iran this week have re-ignited concerns that high energy costs could fuel inflation and force Federal Reserve to raise interest rates. Next week, the earnings season for the second quarter will begin with reports from major U.S. financial institutions. According to LSEG, analysts expect S&P500 earnings to increase by 24% compared to the previous year, with technology companies leading this growth. Terry Sandven is the chief equity strategist of U.S. Bank Wealth Management, based in Minneapolis, Minnesota. The banks will give us an accurate read on the economic strength, and how consumers and businesses are faring. The S&P 500 trades at a multiple of about 20 earnings, down slightly from a multiple of 21 earnings in late May. This is despite the benchmark being near record highs. The AI-driven rally this year has been fueled by the expectations of hyperscalers spending heavily. Recent volatility in the industry has been attributed to concerns about 'over stretched valuations' and profit-taking. The PHLX Chip Index gained 0.5% and remained about 11% below its record-breaking close on June 22, The?S&P500 was up 0.32% to 7,567.48, less than 1% below its record high June 2 close. The Nasdaq gained 0.23%, reaching 26,265.80, while the Dow Jones Industrial Average rose 0.31%, to 52,649.55. Meta Platforms has risen 5.7%, its highest level since April. Moderna fell?almost 11 percent and was on track for its worst day since over a year. Eight out of 11 S&P 500 sectors indexes have risen, with the information technology sector leading the way, up by 1.65%. Consumer discretionary followed, with a gain of 1.46%. The Fed's likely monetary policies will be revealed by the June inflation data, which is due to be released next week. Fed Chairman Kevin Warsh also has a scheduled appearance before the House Committee on Financial Services. Delta Air Lines fell 1.3% even though it forecasted a third-quarter profit that was above expectations. The S&P 500 has a ratio of 1.9 to 1. This means that the number of rising issues is greater than the number falling ones.

• European shares end four-week winning streak due to tech selling off, US-Iran War

  European shares shook off a four-week streak of gains on Friday. The oil market was rattled by a 'unwinding in tech stocks' and the resurgence of tensions?in the Middle East. Investors lowered their hopes for a quick relief from the energy shock, and the?pan-European?STOXX600 fell 1.8% this week. Brent futures rose 5% this week after the U.S. and Iran exchanged strikes. Washington also reimposed sanctions against Iranian oil. The NATO summit in Turkey added a layer to the uncertainty, as U.S. president Donald Trump called Spain "a terrible partner" and threatened halting trade with that country. He later softened his rhetoric. The week's events show that geopolitical risk is still a major factor in investor sentiment. "There was an air of complacency, as if the war wasn't a problem anymore. This week, we were reminded that the war is still a problem, said Marta Norton. Investors sought diversification outside of the obvious AI beneficiaries, and were influenced by the ongoing rotation away from global tech giants. The markets will now focus on the earnings season, which could potentially provide fresh momentum for equities. Technology?sector fell 1.3% on Friday and 1.8% in the past week. Soitec and ASML fell 5.9% and 2.0%, respectively, for the day. Ipek Ozkardeskaya is a senior analyst at Swissquote Bank. He said: "The large swings in technology stocks... indicate investors are still under pressure despite the elevated valuations." Telecom stocks rose 1.3% after a 12.6% increase in Vodafone, after UAE telecoms company e& announced it would sell its stake to the family of French billionaire Xavier Niel. Airlines led the way in the travel and leisure sector, which saw a 1% increase. EasyJet, the UK's largest airline, surged by 14.3% following its agreement in principle with Apollo Global to acquire it for PS5.7 billion ($7.65billion). St. James's Place, one of money manager's biggest?partner firms?, dropped 8.5% on the STOXX 600 after a report that Sovereign Wealth was considering?a departure from the group. J.P.Morgan upgraded ArcelorMittal from "underweight" to "neutral", and its shares rose 6.4%. Voestalpine gained 6% and Salzgitter gained 6% respectively. The brokerage upgraded both stocks from "underweight" to "overweight". Ryanair closed 0.9% higher after gaining as much as 2.9% in the session. Two airport sources reported that a passenger was partially sucked out of a Ryanair plane shortly after takeoff in Greece. Volkswagen has fallen for the third day in a row. Two sources at the company said that powerful union representatives had blocked a major restructuring plan. On Friday, the automaker reported a 8.6% drop in global vehicle sales in the second quarter. This is the largest quarterly decline since 2004. Reporting by Tharuniyaa lakshmi in Bengaluru, Purvi agarwal and Niket Nishant; editing by Niveditarjee Bhattacharjee & Aurora Ellis

• European shares end four-week winning streak due to tech selling off, US-Iran War

  European shares lost their four-week winning streak Friday as a result of a resurgence in tensions and unwinding in tech stocks. Investors lowered their hopes for a quick easing of the energy supply crisis. The?STOXX?600, the pan-European index, fell 1.8% this week. The U.S. traded strikes with Iran, and Washington reimposed sanctions on Iranian crude oil. The NATO summit in Turkey added a layer to the uncertainty. U.S. president Donald Trump had called Spain a “terrible partner” and threatened to stop trade with Spain, but later softened his rhetoric. The week's events have shown that geopolitical risk is still a major factor in investor sentiment. "There was an air of complacency about the war. It wasn't a big deal anymore." "We were reminded by Marta Norton this week that the war is still a problem," said Empower Investments' chief investment strategist. Investors also sought diversification outside of the obvious AI beneficiaries, and were impacted by the ongoing rotation away from global tech giants. The markets will now focus their attention on the upcoming earnings period to put the spotlight back onto fundamentals, and possibly provide fresh momentum for?equities. Technology fell 1.3% on Friday and 1.8% over the past week. Soitec and ASML fell 5.9% and 2.1% respectively on the day. Ipek Ozkardeskaya is a senior market analyst at Swissquote Bank. She said: "The large swings in technology stocks... indicate investors are still under pressure despite the elevated valuations." Telecom stocks rose 1.3%. Vodafone's stock price jumped 12.6% after UAE telecoms company e& announced it would sell a stake to the family of French billionaire Xavier Niel. Airlines led the way in the travel and leisure sector, which saw a 1% increase. EasyJet, a UK-based airline, surged by 14.3% following its agreement in principle with Apollo Global to takeover the company for PS5.7 billion ($7.65billion). St. James's Place, the largest laggard in the STOXX 600 index, dropped 8.5% following a report that Sovereign Wealth - one of its biggest partner firms - was considering leaving the group. J.P. Morgan upgraded ArcelorMittal from "underweight" to "neutral", sending its share price up 6.4%. Voestalpine gained 6% and Salzgitter gained 6%, respectively. The brokerage upgraded both stocks from "underweight" to "overweight". Ryanair closed 0.9% higher after having gained as much as 2.9% in the session. Two airport sources reported that a passenger was partially sucked out of a Ryanair plane shortly after takeoff in Greece. Volkswagen has fallen for a third day in a row. Two sources said that the company's "powerful" labour representatives had blocked a sweeping restructure plan. On Friday, the automaker reported a 8.6% drop in global vehicle sales in the second quarter. This is the largest quarterly decline since 2004. Reporting by Tharuniyaa lakshmi in Bengaluru, Purvi agarwal in New Delhi and Niket Nishant at the Bengaluru bureau; editing by Niveditarjee Bhattacharjee & Aurora Ellis

• RPT-Wall St. flat as SK Hynix debut's stellar performance limits losses in chip stock

  Wall Street's major indexes traded in choppy trade on?Friday as SK Hynix, a?South Korean semiconductor company made a blockbuster Nasdaq debut. This helped to cap losses in a tumultuous stock market. Artificial intelligence is back in the spotlight following SK Hynix's $170 opening price, which was 14% higher than its initial offering price. This high-profile U.S. IPO brought artificial intelligence to a new level. Memory-chip maker SK Hynix raised $26.5 billion by selling American depositary receipts at $149 per piece on Thursday. The stock isn't soaring because this isn’t an IPO. This is a secondary offer of a publicly traded company. Steve Sosnick is chief strategist at Interactive Brokers. He said that it will allow U.S. shareholders to access the stock. The AI-driven rally this year has been fueled by the expectations of hyperscalers spending heavily. Recent volatility in the industry has been attributed to concerns about overvalued valuations and profit-taking. Semiconductor stocks were under pressure Friday. Micron Technology fell 3%, giving up part of its gains of 4.5% from the previous session. The Philadelphia SE Semiconductor Index dropped 0.8%. The communication services sector was also helped by a 6.1% increase in?Meta Platforms, which reached its highest level since last April. Seven out of 11 major S&P 500 sector were up. Moderna's 10.6% decline was the largest drag on the benchmark index. It was the worst single-day drop since more than a full year. At 11:57 am. At 11:57 a.m. ET, the Dow Jones Industrial Average gained 110.06 points or 0.21% to 52,597.47. The S&P 500 rose 9.75 points or 0.13% to 7,553.35 while the Nasdaq Composite fell 5.36 points or 0.02% to 26,201.53. The S&P 500, Nasdaq and blue-chip Dow were all on course for a second consecutive week of gains. Investors are on edge due to geopolitical concerns after the U.S. and Iran exchanged attacks this week. Donald Trump, the U.S. president, said that Iran asked for a continuation of?talks with the U.S. and that they had agreed. However the ceasefire in June was "over". The latest escalation has rekindled concerns about inflationary effects?of war, which could complicate Federal Reserve's monetary policies. The Fed will be able to gain new insight next week when it releases its June inflation data. Fed Chairman Kevin Warsh will also testify before the House Committee on Financial Services. According to LSEG, markets are pricing in a minimum of a 25-basis point rate increase by the?end 2026. Next week, top banks will report their quarterly results. According to LSEG data, analysts expect S&P 500 earnings will rise 23.7% compared to a year ago. Technology companies are expected to drive the majority of this growth. Delta Air Lines dropped 2.1% even after forecasting a third-quarter profit that exceeded expectations. On the NYSE, advancing issues outnumbered declining issues by a ratio of 1.19 to 1.39. The S&P 500, and the Nasdaq Composite, posted no new highs or lows in 52 weeks. (Reporting by Ragini Mathur and Avinash P in Bengaluru; Editing by Pooja Desai and Shinjini Ganguli)

• Wall St flattens as SK Hynix debut's stellar performance limits losses in chip stock

  Wall Street's major indexes fluctuated little in Friday's choppy trade, with the Nasdaq debut by SK Hynix of South Korea. This capped a week that saw chip stocks sway at the end. Artificial intelligence is back in the spotlight following SK Hynix's $170 opening price, which was 14% higher than its initial offering price. This high-profile U.S. listing brought artificial intelligence to the forefront. Memory-chip maker SK Hynix raised $26.5 billion by selling American depositary receipts at $149 per piece on Thursday. The stock is not advancing because this is not an IPO. This is a secondary offer of a publicly traded company. It will allow U.S. shareholders to access the stock, which would be good news for all global holders," said Steve Sosnick. Chief strategist at Interactive Brokers. The chipmakers are among the largest beneficiaries of this year’s AI-driven rally. This is largely due to expectations that hyperscalers will spend heavily. Recent volatility in the industry has been attributed to concerns about overvalued valuations and profit-taking. Semiconductor stocks?came under pressure Friday. Micron Technology fell 3%, giving up part of the 4.5% gains it had made in the previous session. The Philadelphia SE Semiconductor Index dropped 0.8%. Meta Platforms, which has been a leader in the S&P 500 since April, rose 6.1% to its highest level ever. This helped boost the Communication Services sector by 0.5%. Seven out of 11 major S&P sectors are trading higher. Moderna's 10.6% decline was the largest drag on the benchmark index. This was its biggest one-day drop in over a year. At 11:57 am. At 11:57 a.m. ET, the Dow Jones Industrial Average gained 110.06 points or 0.21% to 52,597.47. The S&P 500 rose 9.75 points or 0.13% to 7,553.35 while the Nasdaq Composite fell 5.36 points or 0.02% to 26,201.53. The S&P 500, Nasdaq and blue-chip Dow were all on course for a second consecutive week of gains. Investors are on edge due to geopolitical concerns after the U.S. and Iran exchanged attacks this week. Donald Trump, the U.S. president, said that Iran asked for a continuation of talks and that the U.S. agreed. However, he added that June's ceasefire had "ended". The latest escalation has rekindled concerns over the inflationary impact that the 'war' could have on the Federal Reserve’s monetary policy. The Fed will be able to gain new insight next week when it releases its June inflation data. Fed Chairman Kevin Warsh will also testify in front of the House Committee on Financial Services. According to LSEG data, markets are pricing in a minimum of a 25-basis point rate increase by the end?2026. Next week, top banks will report their quarterly results. According to LSEG data, analysts expect S&P 500 earnings will rise by 23.7% compared to a year ago. Technology companies are expected to drive the majority of this growth. Delta Air Lines fell?2.1% even after forecasting a third-quarter profit that exceeded expectations. On the NYSE, advancing issues outnumbered declining issues by a ratio of 1.19 to 1.39. The S&P 500, and the Nasdaq Composite, posted no new highs or lows in 52 weeks. (Reporting by Ragini Mathur and Avinash P in Bengaluru; Editing by Pooja Desai and Shinjini Ganguli)

• Wall St. steadies before South Korean chip behemoth SK Hynix debut

  Wall Street indexes remained steady on Friday as investors awaited SK Hynix's highly anticipated Nasdaq debut, shifting their focus away from the recent escalation of the Middle East conflict. The AI market takes centre stage as SK Hynix prepares to list in the U.S. This offering will be the largest share sale in history after SpaceX's record breaking IPO last week. The chipmaker raised $26.5 billion by selling American Depositary Receipts at $149 each on Thursday. ADRs of the company are expected to open at $176.01 - about 18% higher than their offer price. We've heard it's oversubscribed (SK Hynix), and people want the stock. I don't believe it will be a catastrophe or cause negative volatility. In fact, once the market opens, the whole chip sector could be lifted as we'move towards the weekend", said Kathleen Brooks. The AI rally this year has been fueled by the expectation of heavy spending by hyperscalers. Recent volatility in the semiconductor industry has been attributed to concerns about stretched valuations and profit-taking. Semiconductor shares were under pressure Friday. Memory-chip maker Micron Technology eased 1.6% after gaining 4.5% the previous session. In choppy trade, the Philadelphia SE Semiconductor Index fell by 0.5%. Meta Platforms shares grew 6.1%, helping to extend?gains that helped boost the communication services sector by 0.9%. On the S&P500 benchmark, eight out of eleven sectors traded higher. The S&P 500, Nasdaq and blue-chip Dow were all on course for weekly gains. At 9:50 a.m. The Dow Jones Industrial Average gained 35.60 points or 0.07% to 52,523.01; the S&P 500 rose 11.18 points or 0.15% to 7,554.82; and the Nasdaq Composite added 13.40 points or 0.05% to 26,220.29. Investors are on edge because of the geopolitical risks after Iranian forces launched an attack on U.S. military facilities in Gulf states, on Thursday. This follows U.S. attacks on Iran's eastern and southern provinces. The latest escalation has revived concerns over the inflationary effect of war. John Williams, the president of the New York Federal Reserve, said that he didn't expect Middle East hostilities would cause energy prices to rise?for?the rest of the year. The Federal Reserve will be able to gain new insight next week when it releases its June inflation figures. Fed Chairman Kevin Warsh also has a scheduled appearance before the House Committee for Financial Services. According to LSEG data, markets are pricing at least a 25-basis point rate increase by the end 2026. Delta Air Lines fell 2.5% even though it forecasted a third-quarter profit that was above expectations. Stocks related to crypto-currencies have risen in line with bitcoin's gains. Coinbase and Strategy both added 3.1%, while Strategy gained 5%. Next week, earnings are expected to pick up speed. According to LSEG data, analysts expect S&P500 earnings?to increase 24% compared to a year ago, with technology companies 'driving the growth. On the NYSE and the Nasdaq, the number of advancers outnumbered the number of decliners in a ratio 1.79 to 1. The S&P 500, and the Nasdaq Composite, posted no new highs or lows in 52 weeks. (Reporting by Ragini Mathur and Avinash P in Bengaluru; Editing by Pooja Desai and Shinjini Ganguli)