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Trump Declares Iran Ceasefire 'Over' After Strait of Hormuz Ship Attacks — Brent Crude Spikes 5.2% to $78

President Trump declared the US-Iran memorandum of understanding 'over' after American forces struck Iran in retaliation for attacks on three commercial vessels in the Strait of Hormuz. Brent crude jumped 5.2% to $78.02, WTI rose 4.9% to $73.89, and the Dow fell more than 500 points. Trump threatened further strikes 'tonight,' while Iran's foreign ministry condemned the US military action as a gross violation of the ceasefire. Energy stocks gained; tech and semis sold off.

FOMC June Minutes Release Today at 2 PM ET — Nine Hawkish Dots Signal Possible September Rate Hike to 3.75%-4.00%

The Federal Reserve releases its June 16-17 FOMC meeting minutes today at 2 p.m. ET, the first under Chair Kevin Warsh, who withheld his personal dot-plot projection. Nine of eighteen officials projected at least one rate hike before year-end, and markets assign a 40% probability of a move to 3.75%-4.00% by December. The minutes will reveal whether hawkish dots belong to voting members and how strongly the committee debated an immediate hike versus a hold.

Blue Origin Raises $10 Billion at $130 Billion Valuation — First Outside Funding in 25 Years Led by Coatue, Bezos

Blue Origin is raising $10 billion in its first-ever outside funding round at a pre-money valuation of $130 billion, with Coatue Management leading at $4 billion, Jeff Bezos contributing $2 billion, and institutional investors covering the remainder. The round comes weeks after SpaceX's $86 billion IPO valued Musk's company at roughly $2 trillion. Amazon stock, Blue Origin's historical funding source, is in focus as Bezos no longer needs to sell shares to sustain the company.

ExxonMobil Gains 1.6%, Chevron 1.9%, ConocoPhillips 2.2% as Iran Re-Escalation Reverses Energy Sector's June Slide

ExxonMobil, Chevron, and ConocoPhillips gained 1.6%, 1.9%, and 2.2% respectively as Iran's renewed attacks on Strait of Hormuz shipping reversed the oil supply easing trade that had weighed on energy stocks since the June ceasefire. The US Treasury also revoked the waiver allowing Iran to sell oil globally, a move that could materially re-tighten the crude market. Energy is the sole S&P 500 sector in positive territory as broader equity markets sink.

Bitcoin Drops 2.2% to $62,038 as Iran Re-Escalation and Hawkish Fed Minutes Dual-Press Crypto Risk Assets

Bitcoin fell 2.2% to $62,038 as traders confronted a simultaneous double shock: Iran's ceasefire collapse sent oil surging and risk appetite cratering, while the Federal Reserve's June FOMC minutes, releasing at 2 p.m. ET, are expected to confirm a hawkish internal debate with nine of eighteen officials favoring a 2026 rate hike. Markets assign a 40% probability of a hike to 3.75%-4.00% by December, and any confirmation of aggressive internal sentiment could push crypto lower.

Samsung Q2 2026 Operating Profit Hits Record $58.4B, Up 19-Fold — Revenue Misses at 171T Won, Shares Fall 6.8%

Samsung Electronics posted a preliminary Q2 2026 operating profit of 89.4 trillion won ($58.4 billion), a 19-fold year-over-year increase that set a new all-time corporate record and beat the LSEG SmartEstimate of 87.3 trillion won. Revenue came in at 171 trillion won, up 129% year-over-year but short of the 172.2 trillion won consensus. Shares fell as much as 6.8% in Seoul as some traders had expected profit to top 100 trillion won before bonus provisions, dragging Micron and SanDisk lower in US premarket.

Vertex Pharmaceuticals Acquires Crinetics for $85 Per Share — $10B All-Cash Deal Targets $5B+ Endocrinology Peak Sales

Vertex Pharmaceuticals agreed to acquire Crinetics Pharmaceuticals for $85 per share in an all-cash deal valued at approximately $10 billion, a 102% premium to Crinetics' Monday close. The deal, unanimously approved by both boards, adds PALSONIFY, the first approved once-daily oral acromegaly therapy, and late-stage atumelnant for congenital adrenal hyperplasia, with management targeting more than $5 billion in combined peak annual revenue. The transaction is expected to close in Q3 2026.

Iran's IRGC Fires Missiles at Two Strait of Hormuz Vessels — Brent Crude Rises $0.50 to $72.49 as Peace Deal Durability Questioned

Iran's Islamic Revolutionary Guard Corps reportedly fired missiles at two commercial vessels transiting the Strait of Hormuz, pushing Brent crude 50 cents higher to $72.49 per barrel and raising fresh doubts about the durability of the U.S.-Iran peace framework. A tanker was hit off the coast of Oman, causing a fire with no reported casualties, according to UK Maritime Trade Operations. The incident arrives as both sides are still negotiating a permanent settlement, with US forces expected to assess retaliatory options.

NATO Picks Saab GlobalEye Over Boeing in ~$4.5B AWACS Deal — 10 Aircraft to Replace Cold War E-3 Fleet by 2030

NATO announced at its Ankara summit that it will begin formal negotiations with Saab to acquire up to 10 GlobalEye Airborne Early Warning and Control aircraft in a deal estimated at roughly $4.5 billion, replacing the alliance's aging Boeing E-3 AWACS fleet. Eleven member nations are jointly procuring the Swedish system, which beat rival offerings from Boeing. Saab has not yet signed a contract, but the announcement sent the company's shares higher as defense investors weighed the landmark win.