A person waves an Iranian flag earlier than a political billboard at Valiasr Sq. in central Tehran on August 8, 2026. Hopes for an imminent US-Iran deal to finish the blockage of the Strait of Hormuz added to optimism that oil and fuel, together with different key merchandise, would once more begin flowing freely after greater than 5 months of battle. However oil costs turned greater forward of the weekend within the absence of any affirmation of an accord, amid stories that Iran was planning to dam US and Israeli ships from the waterway. (Photograph by ATTA KENARE / AFP by way of Getty Photographs) /
Atta Kenare | Afp | Getty Photographs
Whats up, that is Leonie Kidd coming to you from London.
Volatility – like myself – appears to have taken a break over the summer time. After a few weeks away from the newsroom, markets appear trapped in a holding sample.
The VIX implied volatility index has dropped to a multi-year low, nevertheless it appears like it might not take a lot to have the market temper swing the opposite manner…
What you have to know immediately
The delicate ceasefire between the U.S. and Iran is due to expire today. A senior White Home official, speaking to Politico anonymously, described negotiations between Washington and Tehran as “static.”
Iran’s overseas minister Abbas Araghchi wrote in a Telegram publish that his nation has “not decided to restart negotiations with the USA,” whereas Al Jazeera reports that Tehran is engaged on a separate settlement with Oman to revive site visitors by way of the Strait of Hormuz.
The harm of depletion
Specialists are warning that the depletion of U.S. strategic oil reserves may harm the caverns that retailer oil. The Strategic Petroleum Reserve has fallen under 300 million barrels for the primary time because it was stuffed within the early Eighties, in line with the Division of Vitality. The fast launch of stockpiles within the wake of disruption associated to the Iran battle is elevating the operational dangers.
Home demand
Japan’s second-quarter GDP has fallen wanting forecasts. The economic system expanded 1.1% on an annualized foundation, lacking expectations for two% development. Softer home demand weighed on export energy, which was boosted by the weaker yen.
Delayed knowledge
The discharge of much-anticipated financial knowledge from China can be delayed on Monday to accommodate the one centesimal anniversary ceremony marking President Jiang Zemin’s start. The information, due at 8:00 a.m. BST, will embody July retail gross sales, industrial manufacturing and home costs.
Dimon’s name
JPMorgan Chase CEO Jamie Dimon has reportedly held a name with the brand new U.Okay. Chancellor John Healey. In accordance with the Financial Times, the Wall Road financial institution boss used the dialog to foyer the British authorities in opposition to making a extra hostile tax setting for banks.
In the meantime, JPMorgan could soon be crowned as the first $1 trillion bank. That is in line with Wells Fargo, which mentioned, “JPM’s best-in-class skill to take a position for superior development cannot solely assist JPM surpass the $1T [market] cap milestone but additionally to achieve $2T over est. 7-8 [years],” analyst Mike Mayo mentioned Thursday in a consumer report.
— Leonie Kidd
And Lastly…
Secret outperformer: Dispelling the ‘myths’ about an unloved stock market
European equities have traditionally struggled to ignite the sort of investor enthusiasm loved by U.S. shares and sure fast-growing Asian markets. The continent has fewer high-growth firms, shallower capital markets and is believed to have a much less compelling long-term earnings development story.
A spike in governments’ fiscal spending initially of 2025, nevertheless, introduced the market to life. This yr, the story is extra nuanced, however the pan-European Stoxx 600 index has proved remarkably resilient.
— Joseph Wilkins
