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Nvidia's $750 Billion AI Financing Deals Trigger 6% Chip Sector Selloff — Samsung, SK Hynix Post Worst Drops in Decades

A semiconductor selloff tied to Nvidia's $750 billion in AI infrastructure financing deals erased over a trillion dollars in chip-sector market value, with South Korea's Kospi tumbling nearly 11% and Samsung Electronics posting its worst single-day decline in almost two decades. SK Hynix fell more than 14%, while ASML dropped over 8% after reports that a Chinese state-backed firm began mass-producing advanced lithography equipment. The rout, which spread to U.S. trading, reflects deepening investor doubt about circular AI financing arrangements just as the Federal Reserve prepares its rate decision Wednesday.

Coca-Cola Q2 2026 Revenue Hits $13.38B, Up 7% — Company Raises Full-Year EPS Growth Guidance to 10%

Coca-Cola posted second-quarter 2026 adjusted earnings of 97 cents per share on net revenue of $13.38 billion, beating Wall Street's estimates of 93 cents and $13.16 billion. Organic revenue climbed 6% as global unit case volume rose 5%, led by India, China, the U.S. and Brazil, with Coca-Cola Zero Sugar volume up 16%. The beverage giant raised its full-year comparable earnings growth outlook to 9%-10%, up from 8%-9%, citing resilient consumer demand and World Cup-driven marketing momentum.

Corning Stock Sinks 16% Despite Q2 2026 Beat — Weak Q3 Guidance Overshadows 17% Sales Growth

Corning shares plunged as much as 16% after the specialty glass maker's third-quarter guidance fell short of Wall Street targets, overshadowing a strong second-quarter beat. The company posted core earnings of 78 cents per share, up 30% year-over-year, on core sales of $4.74 billion, up 17%, both ahead of estimates. But third-quarter guidance of $4.9 billion to $5.0 billion in core sales and 85 to 89 cents in earnings missed the consensus of $4.99 billion and 85 cents, raising fresh questions about the pace of its AI-driven optical fiber expansion.

Federal Reserve's July 2026 Meeting Kicks Off Today — Rate-Hike Odds Rise as Kevin Warsh Faces First Big Test

The Federal Reserve began its two-day policy meeting Tuesday, with a decision due Wednesday at 2 p.m. ET that economists widely expect to hold the benchmark rate at 3.5% to 3.75% for a fifth straight meeting. Fed Chair Kevin Warsh has offered few clues about his intentions, and CME FedWatch data show rising odds of a surprise hike as oil-driven inflation pressures mount. A hawkish surprise from Warsh, who has pledged less forward guidance than his predecessor, could jolt rate-sensitive stocks and bonds heading into Wednesday's press conference.

Sherwin-Williams Stock Jumps Up to 8.5% on Q2 2026 Beat — Paint Giant Raises Full-Year EPS Guidance to $12.20

Sherwin-Williams shares jumped as much as 8.5% Tuesday after the paint and coatings maker posted second-quarter 2026 adjusted earnings of $3.70 per share, up 9.5% year-over-year and topping estimates of $3.52. Net sales rose 7.5% to $6.79 billion, beating consensus of roughly $6.60 billion, as growth accelerated across all three business segments despite what management called no meaningful improvement in underlying demand. The company raised its full-year adjusted EPS guidance to a range of $11.80 to $12.20, above the prior Street estimate of $11.74.

Oil Prices Drop 8% as U.S., Iran Pause Strikes and Resume Talks — WTI Falls to $81 on De-Escalation Hopes

Oil prices fell for a second straight session Tuesday, with West Texas Intermediate dropping to roughly $81 a barrel after President Trump said the U.S. and Iran were holding productive talks following a pause in the 13-day American bombing campaign against Iranian targets. Brent crude slid toward $87, extending Monday's roughly 8% plunge, as investors unwound the geopolitical risk premium built into prices during weeks of military escalation. Iran's foreign minister also held calls with Saudi and Omani counterparts about restoring normal shipping through the Strait of Hormuz, though both governments warned strikes could resume if diplomacy fails.

Brent Crude Falls 7.8% to $89.23 After US-Iran Strike Pause — Nasdaq-100 Futures Jump 1.4% as Risk Rally Ignites

Brent crude plunged 7.8% to $89.23 after the United States suspended its 13-night airstrike campaign against Iran and Tehran signaled it would halt retaliation under an 'attack for attack' framework as long as the US pause holds. Nasdaq-100 futures jumped 1.4%, Dow futures gained 1%, and S&P 500 futures added 0.9% in premarket trade. The relief rally arrives ahead of the most consequential week of Q2 earnings season, with Microsoft, Meta, Apple, and Amazon all reporting.

argenx Acquires Forte Biosciences for $2.2B at $77 Per Share — 86% Premium Targets First-in-Class Anti-CD122 Antibody FB102

argenx announced a $2.2 billion all-cash acquisition of Forte Biosciences at $77 per share, an 86% premium to Forte's volume-weighted average price since its positive Phase 1b vitiligo data on July 9. The deal adds FB102, a first-in-class anti-CD122 antibody with proof-of-concept in vitiligo and celiac disease, to argenx's growing immunology portfolio. The transaction is fully funded from cash and is expected to close in Q3 2026, with argenx hosting an investor call this morning at 8 a.m. ET.

AMD Signs Korea AI Center MOU at Advancing AI 2026 — Open ROCm Ecosystem to Challenge Nvidia's CUDA Lock-In in Asia

AMD Chair and CEO Lisa Su signed a memorandum of understanding with South Korea's Ministry of Science and ICT during the AMD Advancing AI 2026 conference in San Francisco, establishing an AI Center of Excellence in Korea. The agreement targets a heterogeneous AI computing infrastructure combining AMD CPUs, GPUs, and Korean neural processing units, and aims to connect Korean chipmakers, universities, and research institutions to AMD's open-source ROCm software platform as an alternative to Nvidia's CUDA ecosystem.