Bloomberg

Lead Story

Hopes of an imminent diplomatic deal between the US and Iran to reopen the Strait of Hormuz sent oil prices tumbling and propelled global equity markets toward record highs. Treasury Secretary Scott Bessent and Qatari mediators signaled a draft agreement could be reached within days, and Iran is reportedly weighing a proposal to let European nations clear mines from the waterway. This potential breakthrough has significantly eased global energy supply fears and tempered expectations for aggressive Federal Reserve interest-rate hikes.

Markets & Economics

• After Historic Intervention, 155 Emerges as Yen’s Next Big Test · Bloomberg: Following the historic joint US-Japan currency intervention to rescue the slumping yen, market focus has shifted to whether the yen can strengthen past the critical 155 per dollar threshold. Strategists warn that while official action has bought time, breaking this technical and psychological level is crucial to signaling a structural shift in the currency’s trajectory.
• US Trade Deficit Narrows to $73.3 Billion on Drop in Imports · Bloomberg: The US trade deficit narrowed by 5.6% in June as imports declined for the first time this year, reflecting a broad-based decline. Meanwhile, job openings eased slightly to 7.36 million, signaling a steady cooling of the labor market without a spike in layoffs.
• Fed’s Paulson Says She Keeps an ‘Open Mind’ on Interest Rates · Bloomberg: Philadelphia Fed President Anna Paulson emphasized her focus on underlying inflation trends, maintaining flexibility on the central bank’s rate trajectory. This cautious stance, coupled with falling oil prices, led bond markets to trim expectations for aggressive Fed rate hikes in the coming year.
• Most of G-7 Is Spending More on Interest Than Defense, Scope Says · Bloomberg: A Scope Ratings analysis shows that debt interest payments now surpass defense spending in every Group of Seven nation except Germany and Canada. This growing fiscal strain highlights the heavy long-term cost of high sovereign debt loads across major developed economies.
• Europe’s Earnings Are Much Stronger Than They Look · Bloomberg: European corporations are posting one of their strongest earnings seasons in years, driving regional equity indexes to record highs. Strategists note that improving corporate earnings have driven a significant rebound in risk appetite for European assets, setting them apart from tech-heavy US peers.

Business & Industries

• SpaceX Falls After Higher AI Spending in Post-IPO Earnings · Bloomberg: SpaceX’s first post-IPO quarterly financial report exceeded Wall Street revenue expectations, but the company’s shares fell due to massive capital outlays on AI infrastructure and land-based carrier networks. The results have fueled highly concentrated short-selling positions as investors weigh its aggressive growth spend.
• Aramco Profit Jumps 33% as US War With Iran Boosts Oil Prices · Bloomberg: Saudi Aramco reported a 33% surge in second-quarter profits, mirroring a strong earnings season for oil majors like BP Plc, whose trading and refining businesses boomed during the Iran war. While companies have bypassed key shipping choke points, Aramco warned that global refining capacity is running flat out with almost no buffer left.
• McDonald’s Growth Slows in Sign US Diners Are Retrenching · Bloomberg: McDonald’s named Skye Anderson as its new US president to bring “focus and urgency” as growth slowed for a second consecutive quarter. The fast-food chain’s results are a clear sign that elevated food and fuel costs are squeezing low-income consumer spending .
• HSBC’s Record-Breaking Stock Rally Faces Test From Earnings · Bloomberg: Following a record-breaking rally, HSBC Holdings Plc beat Q2 expectations and launched a new $1 billion share buyback under CEO Georges Elhedery. The solid performance has also prompted the lender to consider increasing its banker bonus pool if its earnings momentum continues.
• P&G CEO Reveals $3.8 Billion Deal for Vitamin Maker Thorne · Bloomberg: Procter & Gamble Co. won a competitive bidding war to acquire dietary supplement maker Thorne for $3.8 billion. The acquisition marks a major strategic expansion for the consumer products giant into high-growth wellness and nutrition industries.

Policy & World

• Blanche Attorney General Nomination Advanced by Senate Panel · Bloomberg: Todd Blanche’s nomination for US Attorney General cleared a major Senate panel vote. The progress came after lawmakers reached a compromise to modify Trump’s IRS settlement over unauthorized leaks of his tax records.
• US Revokes Brazilian Ambassador’s Visa Amid Diplomatic Spat · Bloomberg: The Trump administration revoked the US visa for Brazil’s ambassador in response to Brazil delaying its diplomatic approval of Washington’s designated envoy. The escalation highlights deepening diplomatic tensions between the two major Western Hemisphere governments.
• Five Die in Ukraine Drone Strike in Moscow Region, Governor Says · Bloomberg: At least five people were killed in a Ukrainian drone attack south of Moscow. The strike coincides with a wider Ukrainian drone campaign targeting major Russian retail warehouses belonging to Wildberries, destroying approximately 17% of its logistics capacity and forcing the Kremlin to consider bailout options.
• EU Tries to Tamp Down Divisions After Ceuta Migration Surge · Bloomberg: The EU claimed its joint migration frameworks successfully handled a sudden surge of roughly 60,000 migrants attempting to cross from Morocco into Spain’s Ceuta enclave. However, local authorities are trading accusations over human trafficking and misinformation, as member states face pressure from ascending far-right parties ahead of national elections.

Opinion & Analysis

• Yen Intervention Is Bessent’s Latest Band-Aid Fix for Bonds · Bloomberg Opinion: Columnist argues that Washington’s support for the joint yen intervention is less about supporting an ally and more about protecting US bond markets. The Trump administration is growing highly concerned over its own rising borrowing costs and seeks to prevent Japan, the largest foreign US Treasury holder, from dumping its US debt portfolio.
• SpaceX Earnings: Investors Should Focus on Starship, Not Quarterly Results · Bloomberg Opinion: Investors should ignore short-term fluctuations in SpaceX’s newly public stock and focus entirely on the progression of its Starship rocket. While near-term financials will be volatile due to heavy capital spending, Starship is the ultimate catalyst that will define the company’s valuation and long-term space hegemony.
• A Cornered Trump Just Might Turn on Big Oil · Bloomberg Opinion: Despite historically favorable relations, an anxious President Trump could politically target major oil companies as pump prices rise amidst Middle East tensions. Trump’s public criticism of ExxonMobil and Chevron’s massive profits serves as a warning that the administration may use energy majors as convenient scapegoats for persistent consumer inflation.

📊 I can compile these corporate earnings results and buyback announcements into a structured spreadsheet tracker to compare Q2 performances side by side.