Aug 11, 2026

Mexico proposes lower auto tariffs as StubHub slides 14%

Trade-policy optionality favored automakers, while earnings disappointment hit StubHub and government support removed a shutdown risk for Rio Tinto.• Autos/Trade: Mexico proposed cutting US tariffs on noncompliant North American vehicles to 5%-10% from 25%, but talks remain preliminary and could run into 2027.• StubHub: Shares fell 14% after the company posted break-even EPS versus an 11-cent profit estimate, despite revenue rising 33% to $573.1 million.• Rio Tinto: Australian governments approved a A$2.5 billion, 10-year package to keep the Tomago aluminium smelter operating and fund its renewable-energy transition.• AI/M&A: Bloomberg reported Anthropic is in talks to buy chip-optimization and generative-video startup Decart AI for about $6 billion; no deal is finalized.

Nvidia unveils $500 billion chip-leasing pact as Cerebras slides on revenue miss

AI financing and after-hours earnings drove stock-specific moves, while a record July deficit added to Treasury supply concerns.• AI Financing: Nvidia unveiled a $500 billion chip-leasing partnership with Apollo, KKR, Brookfield, BlackRock and Goldman, guaranteeing at least 25% residual chip values.• Cisco: Fiscal first-quarter sales and EPS guidance topped estimates, and quarterly hyperscaler AI orders reached $4 billion. Shares initially rose 1% before turning lower.• Cerebras: Shares slid 17% after revenue missed estimates and hardware sales fell 23%, although cloud revenue nearly quadrupled and management raised its full-year outlook.• Fiscal/Rates: The July budget deficit hit a record $432 billion; the fiscal-year gap reached $1.8 trillion, 5% wider after calendar adjustments. The 10-year auction drew solid demand.• Apple/Siri: The WSJ reported Apple is discussing multiyear publisher licenses, potentially with a nine-figure budget, to supply current content for its AI-powered Siri.

US crude stockpiles surge as Wendy’s jumps on potential Peltz bid

Commodity supply surprises and takeover speculation drove the clearest moves, while leadership and legal developments pressured select stocks.• Oil/Inventories: EIA data showed crude stocks rose 17.4 million barrels versus an expected 600,000-barrel draw; SPR inventories fell 6.1 million to a four-decade low.• Wendy’s/M&A: The FT reported Trian is preparing a possible take-private bid; no offer is assured. Shares rose about 14%.• Corn/USDA: Corn jumped 2.9% after USDA cut its yield estimate to 180.7 bushels per acre from 183, below the 182.5 consensus.• Home Depot: CEO Ted Decker will take a medical leave expected to last months; two senior executives will split operating and financial oversight.• Trump Media: Shares fell more than 6% after press groups sued over paid, millisecond access to Trump’s potentially market-moving posts.

Stock futures rise after core inflation eases to 2.5%

Equity futures firmed on benign inflation and fresh AI-cloud strength, while M&A and Black Sea supply risks added company and commodity catalysts.• CPI/Markets: July CPI rose 0.1% monthly and 3.4% annually; core inflation eased to 2.5%. S&P 500 futures reached session highs, up 0.4%, while Treasury yields were initially little changed.• Nebius: AI-cloud revenue jumped 514% to $575 million, helping total revenue of $582 million beat the $557 million consensus.• Goldman/ETFs: Goldman Sachs agreed to pay up to $2.25 billion for Neos, adding about $32 billion of assets and expanding its options-based ETF franchise.• Black Sea/Wheat: Ukrainian drones damaged three grain terminals at Novorossiysk, heightening export risk for a region that supplies more than a quarter of global wheat.• OPEC/Oil: OPEC cut 2026 oil-demand growth to 580,000 barrels a day from 780,000, while July member output rose 1.66 million barrels a day.

IEA sees wider oil deficit as Tencent sales beat estimates

Oil supply risk firmed, while Asian technology earnings and European renewables results offered positive read-throughs for US-listed peers.• Oil/Hormuz: Brent rose 0.9% to $89.72 after Trump claimed “total control” of Hormuz while US-Iran negotiations remained stalled.• Oil/IEA: The IEA now sees a 1.8 million-barrel-a-day third-quarter supply shortfall, more than double its previous estimate, though it expects oversupply by year-end.• Tencent: June-quarter revenue reached 204.8 billion yuan, topping estimates, as WeChat ads and games held up; AI investment will double this year.• AI Hardware: Foxconn’s profit rose 35% and beat estimates, with AI servers exceeding half of revenue and rack shipments forecast to grow by high double digits sequentially.• Wind: Vestas jumped 18.5% after raising its full-year margin outlook to 7%-9% and announcing a €400 million buyback.

Ukraine halts tanker strikes as AstraZeneca ends Bristol Myers talks

Oil-infrastructure risk eased at the margin, while hawkish Fed commentary and a collapsed megadeal kept cross-asset risks active.• Oil/Majors: Ukraine halted drone strikes on tankers near Novorossiysk after JD Vance's request, protecting eligible non-Russian ships and CPC assets linked to Chevron and Exxon.• Pharma/M&A: The FT reported AstraZeneca ended talks to buy Bristol Myers in a roughly $400 billion, mostly stock deal after investor opposition; neither company commented.• Fed/Rates: Boston Fed President Susan Collins said the central bank may need to raise rates as energy costs worsen persistent inflation and strain poorer households.• Credit: Jane Street is repaying $5.5 billion of floating-rate loans and plans $14.6 billion of new secured notes; S&P rated the proposed debt BB.

Super Micro jumps after bullish forecast as CoreWeave backlog reaches $104 billion

AI infrastructure earnings drove after-hours trading, while legal, financing and fuel-cost developments shaped other company moves.• Super Micro: Shares rose about 9% after quarterly sales guidance of $14.5-$15.5 billion and a $65-$72 billion fiscal-year outlook topped consensus.• CoreWeave: Shares gained 12% after revenue reached $2.58 billion, backlog hit $104 billion and the loss was narrower than expected.• Air Canada: The airline cut full-year adjusted Ebitda guidance to C$2.9-C$3.2 billion as jet-fuel costs jumped 49%, but shares rose 5.9% after selling 25% of Aeroplan for C$2.5 billion.• Edison: A California judge tentatively declined to impose automatic liability on Southern California Edison for billions in 2025 wildfire losses, leaving the issue for trial.• GM: GM created a $4.5 billion parts-financing program to help suppliers maintain inventories and reduce disruption risk.

EIA sees oil disruptions through 2027 as Colombian quake halts coffee exports

Supply risks broadened beyond oil, while weaker housing and company-specific credit developments shaped afternoon trading.• Oil Outlook: The EIA expects war-related supply disruptions to average 600,000 barrels daily through 2027 and raised its 2026 gasoline and diesel price forecasts.• Coffee/Colombia: Colombian coffee exports largely halted after earthquake damage blocked routes to Buenaventura, with no reopening date and rerouting constrained by truck shortages.• Nvidia/Credit: Nvidia bond spreads and credit-default swaps narrowed after Jensen Huang said its financing support would be assessed project by project and include limited residual-value backing.• Housing: July existing-home sales fell 1.7% to a 4.06 million annualized rate, while the median price rose 2% to a July record of $434,100.

Oil reverses on peace signals while US fires on blockade-running ship

Oil’s reversal eased the rate shock, but US blockade enforcement left geopolitical risk elevated. Company news drove sharp premarket moves.• Oil/Rates: Brent retreated from $90 to about $87 after Pakistan said Washington and Tehran were nearing an arrangement. Treasury yields reversed gains. US forces separately fired on a blockade-running vessel.• Intel: Intel confirmed a $20 billion offering at $95 a share, versus the initially announced $15 billion; shares edged lower premarket.• Sea: Sea rose about 8% after revenue reached $7.8 billion, above $7.1 billion expected, and it raised Shopee’s 2026 Ebitda forecast to $1 billion.• On Holding: On fell after sales missed and annual growth guidance fell to the low-20% range from at least 23%, despite stronger gross margins.• Riot: Riot surged more than 22% premarket after Bloomberg reported its $9.1 billion cloud deal with Anthropic.

Oil nears $90 as Freeport-linked Indonesian smelter outage delays copper shipments

Commodity supply risks dominated, while a confirmed battery-venture exit offered a company-specific positive for GM.• Oil/Rates: Brent rose 2.1% to $89.61, and WTI gained 2.2% to $83.90, on uncertainty over Hormuz, lifting inflation concerns and global bond yields.• Copper/Freeport: Indonesia’s Gresik smelter halted after a boiler leak, delaying copper shipments; buyers were told assessment and repairs could take weeks.• GM/Samsung: Samsung SDI confirmed it acquired GM’s 49.99% SynergyCells stake and will repurpose the $3.5 billion Indiana plant for energy-storage and other applications.• Aluminum: Aluminum reached a seven-week high on a seventh straight gain. LME inventories are near their lowest since 1990, and Norsk Hydro warned the annual deficit could exceed 900,000 tons if Hormuz disruption persists.

Intel reportedly seeks larger share sale as Anthropic reportedly signs $9.1 billion Riot deal

Large financings, AI capacity and power demand drove the most market-relevant developments, while gold extended its advance ahead of inflation data.• Intel: Intel reportedly sought to add about $5 billion to its offering, taking the raise to roughly $20 billion at around $95 a share, a 6.5% discount.• Riot/Anthropic: Anthropic reportedly agreed to buy $9.1 billion of computing from Riot Platforms through 2048, with extensions potentially lifting sales to $16.1 billion.• GM/Batteries: GM reportedly planned to sell its half of a delayed $3.5 billion Indiana battery venture to Samsung SDI after $11 billion of EV-program writedowns.• Power Equipment: Global gas-turbine orders reached a record 38 GW last quarter, up 71% year over year, JPMorgan said, with the US representing nearly half.• Gold: Gold briefly topped $4,400 before CPI, extending a 3.6% two-session rise.

Brent closes 5% higher amid Trump's reported pivot to sanctions and blockade

Geopolitical and rate risks pressured risk appetite, while Nvidia financing and a leadership change drove single-stock moves.• Oil/Iran: Brent settled 5.0% higher at $87.72 after U.S. officials said Trump now favors tighter sanctions and a naval blockade over renewed strikes or negotiations. Officials said he could reverse course.• Fed/Rates: Cleveland Fed President Beth Hammack said multiple rate increases may be needed. The 10-year yield rose 4 basis points to 4.697%, while the Nasdaq fell 0.3%.• Nvidia/AI Finance: The Wall Street Journal reported that Apollo, Blackstone, BlackRock, Brookfield, Goldman and KKR agreed to help Nvidia raise up to $500 billion for AI infrastructure. Nvidia closed down 2.9%.• JBS: JBS fell nearly 6% after naming Wesley Batista Filho CEO from January, restoring family leadership while its North American beef business remains under pressure.

Oil whipsaws after Trump demands compensation from Iran

Oil volatility intensified and AI financing drew scrutiny, while natural gas and clinical readouts drove sharp sector moves.• Oil/Hormuz: Brent jumped more than 4% above $87 after Trump demanded compensation and Iran tied reopening Hormuz to ending the blockade and receiving reparations, then eased toward $85 by 2:10 p.m. Diesel futures gained more than 10%.• Nvidia/Financing: Nvidia extended declines after the FT reported unconfirmed talks with Apollo, Blackstone, BlackRock, Brookfield, Goldman and KKR on a $500 billion AI infrastructure package.• Natural Gas: September futures surged as much as 5.2% to $2.801 as hotter forecasts, higher LNG flows and heavy short positioning triggered covering.• Biotech Trials: AbCellera gained as much as 41% on positive mid-stage hot-flash data; Tenax and Sionna plunged nearly 90% and 92%, respectively, after trial failures.

Intel falls after $15 billion stock offering as Archer surges on Boeing deal

Large financings and strategic transactions drove sharp single-stock moves, while index futures remained little changed.• Intel: Intel fell 4% premarket after announcing a $15 billion common-stock offering for capital spending, working capital and other corporate purposes.• Archer/Boeing: Archer jumped more than 20% after agreeing to acquire Wisk Aero, SkyGrid and Insitu; Boeing will take a nearly 20% stake.• Barrick/Newmont: Barrick fell 6% and Newmont rose 3.2% after Newmont agreed to pay Barrick $1.95 billion, clearing Barrick’s North American-assets IPO.• Teledyne/Varex: Varex surged 50% after Teledyne agreed to buy the X-ray component maker for $18.90 a share, valuing the transaction at about $1.1 billion.

TSMC sales jump 45% as Robinhood launches UK crypto trading

AI demand remained firm, while fintech expansion and infrastructure responses to Hormuz disruption drove company-specific news.• Semiconductors: TSMC’s July revenue climbed 45% to NT$467.58 billion ($14.5 billion), supporting demand expectations for Nvidia and other AI-chip customers.• Robinhood: Robinhood will begin offering eligible UK customers trading in more than 50 cryptocurrencies this week through FCA-registered Bitstamp UK.• LNG/Hormuz: Adnoc Gas is considering an east-coast UAE LNG export facility that would bypass Hormuz; management said no final decision had been made.• Palantir/NHS: The UK raised the projected lifetime cost of Palantir’s NHS platform to £1.1 billion and cut estimated benefits to £808 million, though the program remains within its approved budget.