CNBC

Lead Story

The expiration of the U.S.-Iran ceasefire and subsequent projectile attacks on cargo shipping in the Strait of Hormuz have pushed Brent crude back above $90 a barrel, sparking a brutal global bond rout that sent the U.S. 30-year Treasury yield surging to a 19-year high of 5.33%. This combined geopolitical and inflationary shock dragged major U.S. indexes lower for a third consecutive session, with the tech-heavy Nasdaq Composite hit hardest, falling 1.3% on the day.

Markets & Economics

Fixed-income markets bore the brunt of the volatility as inflation anxieties, massive federal deficits, and soaring corporate issuance pushed the benchmark 10-year Treasury yield above 4.7%. Bond yields rose globally, with Germany’s 10-year bund hitting a 15-year high and Japan’s 10-year note climbing to 2.954%. Main Street is feeling the squeeze as the 30-year fixed mortgage rate rose to 6.75%, locking home buyers out of a ‘frozen’ housing market. Despite these multi-decade yield highs, some market strategists like Trivariate’s Adam Parker remained optimistic on CNBC’s Closing Bell, arguing that robust corporate earnings and cash flows will ultimately power stocks through the scare. Meanwhile, the Federal Reserve’s communication under Chairman Kevin Warsh has become highly opaque, leaving investors parsing economic data rather than central bank guidance ahead of the upcoming Jackson Hole symposium.

Business & Earnings

Home Depot kicked off a crucial week of retail earnings by reporting fiscal second-quarter results that beat expectations, with revenue rising 5.7% to $47.86 billion and adjusted EPS hitting $4.92, while reaffirming its full-year guidance despite operating in ‘frozen’ housing conditions. In technology, Nvidia is dramatically shifting its moat from silicon to capital, offering up to $105 billion in credit to support SB Energy’s giant 4-gigawatt OpenAI data center in Ohio. In an exclusive interview on CNBC’s Squawk Box, Hims & Hers CEO Andrew Dudum defended his company against a Federal Trade Commission lawsuit over user data sharing, while outlining plans to develop proprietary, in-house AI agents and eventually bring down compounded GLP-1 drug costs to $40–$50 per month. Meanwhile, Disney’s ABC filed a First Amendment lawsuit against the FCC, calling Chairman Brendan Carr’s early broadcast license renewal probe a ‘retaliatory campaign’ over programming critical of President Trump.

Investing & Commentary

Jim Cramer advised caution during the summer doldrums, maintaining a 13% cash position in his Charitable Trust and warning that Meta is poised to ’lose every trial’ in its massive adolescent privacy lawsuit. Cramer is selectively targeting high-quality entries, including Boeing on geopolitical weakness and GE Vernova at a 14% discount to its high. For tech investors, Bank of America identified photonics and optics as the year’s best-performing global theme—up 113% year-to-date—recommending leaders like Lumentum and Coherent as hidden plays in the AI supply chain despite short-term risk-off pullbacks.

Also Worth Watching

• Commerzbank Turnaround · CNBC: CEO Bettina Orlopp discusses navigating a multiyear turnaround and strategic acceleration under intense takeover pressure from UniCredit.
• Kalshi’s ‘Perps’ Push · CNBC: Prediction market platform Kalshi is seeking regulatory CFTC approval to launch perpetual futures contracts tied to major equity indexes like the S&P 500, escalating its turf war with traditional exchanges.
• Bezos Buys Liverpool Stake · CNBC: A consortium including billionaire Jeff Bezos has agreed to buy a minority stake in Liverpool FC for over $7 billion, highlighting how elite sports franchises are seeing booming valuations despite massive Premier League operating losses.
• Apple’s EU App Store Fees Overhaul · CNBC: Apple announced a new software commission schedule to resolve its Digital Markets Act dispute with European regulators, cutting commissions to 5% for alternative, third-party app stores.
• Novig’s Sports Betting Volume · CNBC: New prediction market Novig recorded over $125 million in sports contract trading volume in its opening week, outpacing first-week volumes of established competitors like Kalshi.

📈 I could generate a highly detailed visual chart mapping the relative performance of the year’s best-performing AI investment theme, photonics and optics, against the broader S&P 500 so you can track the leaders side by side.