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Oil Prices Slide Below $80 on Iran Supply Hopes as Bond Yields Ease Before Warsh Fed Debut
Crude oil prices fell sharply on Wednesday as optimism grew over potential Iranian supply returning to global markets following the US-Iran ceasefire agreement, pushing Brent crude below $80 a barrel and contributing to lower bond yields amid reduced geopolitical risks.
Brent futures dropped more than a third from recent peaks, reflecting expectations of resumed Iranian exports that could ease supply concerns and moderate inflationary pressures. The prospect of additional barrels entering the market added to relief over normalized shipping through the Strait of Hormuz, helping stabilize energy costs for importers worldwide.
Westpac economist Luka Belobrajdic noted the potential scale of Iranian exports. “Iran’s total exports could approach around the equivalent of 2% of global demand,” he said, though he cautioned that sanctions relief would not be immediate and would depend on the durability of peace.
The decline in oil prices also supported a drop in government bond yields. German 10-year yields, the euro zone benchmark, fell for a fifth consecutive day to their lowest since early April, last trading down 1.6 basis points at 2.91%. British yields declined sharply after May inflation held at a 13-month low of 2.8%, while U.S. Treasury yields steadied at 4.43%, down around 23 basis points from a May peak.
The moves came ahead of Kevin Warsh’s debut as Federal Reserve chair, with markets watching closely for signals on monetary policy direction. Traders are assessing how Warsh will balance dovish influences from the administration with market expectations of potential rate adjustments later this year.
Market Sentiment and Sector Reactions
European stock markets showed modest gains as lower energy costs supported manufacturing and consumer sectors. The pan-European STOXX 600 rose 0.1%, hovering near recent records, while Germany’s DAX benefited from relief in energy-sensitive industries. However, BMW shares fell 8% after the automaker slashed its 2026 outlook, citing challenges in China and broader geopolitical impacts.
U.S. stock futures pointed to a rebound in technology shares after recent selling pressure eased. Chipmaker-heavy markets in Asia showed mixed performance, with Tokyo and South Korea advancing modestly despite a negative lead from U.S. semiconductor stocks. Taiwan’s benchmark was capped by a decline in TSMC shares.
MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.4%, with AI-related gains in China offsetting weakness in consumer stocks following soft retail sales data.
The U.S. dollar remained relatively steady, with the euro firming slightly to around $1.16. The yen held near 160.2 against the dollar, supported by intervention risks despite a recent rate hike in Japan.
Gold prices bounced from support levels around $4,000 an ounce, last trading near $4,325, while Bitcoin stabilized above $64,000, recently changing hands just above $65,400.
Warsh’s Fed Debut in Focus
Attention now centers on Kevin Warsh’s first Federal Reserve policy meeting as chair. With no immediate rate change widely expected, focus will shift to his press conference comments, voting record and updated economic projections from committee members.
AFS Group research director Arne Petimezas outlined the cautious outlook. “I don’t have either cuts or hikes on my radar in the next 12 months,” he said. “If Warsh is going to hike, which is where I think the risks are, it will be more than just one hike.”
Sweden’s Riksbank kept rates unchanged but signaled a possible future hike, adding to the global central banking narrative of measured policy adjustments amid evolving inflation and growth dynamics.
Broader Economic Implications
The Iran ceasefire has provided meaningful relief to energy-importing economies, particularly in Europe, where stock markets have lagged U.S. indices this year. Deutsche Bank strategist Maximilian Uleer highlighted potential benefits. “Lower prices could lead to a recovery in manufacturing and consumer sentiment,” he wrote, shifting his preference toward European stocks over U.S. equities.
U.S. inflation reaching a three-year high in May has kept consumer stocks under pressure, but falling oil prices could ease some of those concerns by supporting household spending power and corporate margins.
Strategic oil reserves in the United States remain at their lowest levels since 1983 following the conflict’s impact on supply chains. While the ceasefire offers hope for normalization, full restoration of Iranian exports will take time and depend on diplomatic progress.
Commodity and Currency Dynamics
Oil’s decline reflects both immediate supply optimism and longer-term demand considerations. Analysts caution that any sanctions relief remains subject to verification and could face implementation delays. However, the mere prospect of additional barrels has shifted market sentiment toward greater supply availability.
Currency markets have remained relatively stable, with the dollar holding ground as investors await clearer signals from the Federal Reserve under Warsh’s leadership. The euro’s modest gains reflect improved risk sentiment in Europe, while the yen’s stability underscores ongoing intervention risks from Japanese authorities.
Gold’s recovery from recent lows demonstrates its continued role as a diversification asset, even as safe-haven demand moderates in a lower-risk environment. Bitcoin’s stabilization above key support levels indicates resilience in cryptocurrency markets amid traditional asset movements.
Outlook for Global Markets
As markets digest the latest geopolitical developments, focus shifts toward central bank communications and economic data releases. The Federal Reserve’s next steps under Warsh will be pivotal in setting the tone for global monetary policy, particularly as inflation trends and growth prospects evolve.
European central banks, including the Bank of England, face their own decisions amid cooling inflation pressures. Sweden’s Riksbank’s signal of potential hikes illustrates divergent paths among policymakers responding to local conditions.
Commodity markets will continue monitoring Iranian supply developments closely. Sustained lower oil prices could support global growth while challenging producers, creating varied impacts across regions and sectors.
Equity investors appear cautiously optimistic, with technology shares showing signs of stabilization after recent volatility. Broader indices remain near highs, reflecting confidence in corporate earnings resilience despite shifting macroeconomic conditions.
The coming days will bring further clarity on policy directions and economic indicators. For now, the combination of geopolitical relief and steady monetary policy expectations has created a relatively constructive environment for global markets, though uncertainties around implementation details and longer-term inflation trends warrant continued vigilance from investors.
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Has Trump achieved his goals in the war with Iran?

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NSW Seeks Series Victory Over Queensland at MCG Tonight
MELBOURNE — New South Wales has the chance to regain the men’s State of Origin shield when it takes a 1-0 series lead into Game II against Queensland at the Melbourne Cricket Ground on Wednesday evening, with the Blues aiming to clinch the series and deny the Maroons a decider on home soil.
The highly anticipated interstate rivalry returns to Victoria for the second match of the 2026 series, with NSW coach Laurie Daley making several changes due to injuries while Queensland coach Billy Slater maintains a largely similar lineup. The Blues enter with momentum after a strong Game I performance, but Queensland remains a dangerous opponent capable of forcing a decisive third match in Brisbane in three weeks.
State of Origin Game II is scheduled to kick off at 8:00 p.m. AEST at the MCG, with live coverage available across major Australian networks and streaming platforms. Fans can follow real-time updates, statistics and radio commentary as two of rugby league’s fiercest rivals battle for supremacy.
NSW Team Changes and Strategy
Daley has been forced into adjustments after injuries to centre Stephen Crichton and Penrith’s Casey McLean. Tolutau Koula shifts from the wing to centre, partnering Kotoni Staggs, while Mark Nawaqanitawase makes his Origin debut on the wing. Mitchell Moses returns to five-eighth after missing Game I, with Ethan Strange moving to the bench.
Dylan Lucas earns his Origin debut in the second row, and Payne Haas returns from injury to start at prop. Apisai Koroisau and Jack Bostock join the bench. The Blues will rely on Nathan Cleary’s leadership at halfback and a strong forward pack to control the middle and create opportunities for their backline.
NSW’s Game I victory demonstrated their attacking flair and defensive resolve. With home advantage at the MCG and a series lead, the Blues will look to apply early pressure and capitalize on Queensland’s mistakes. Daley has emphasized the importance of maintaining intensity for 80 minutes, knowing Queensland’s ability to fight back in big matches.
Queensland Lineup and Approach
Slater has kept changes minimal, with Max Plath dropping to the bench, Reuben Cotter moving to lock, and Briton Nikora starting in the second row. Reece Walsh and Murray Taulagi replace injured or dropped players, adding dynamism to the backline.
The Maroons will rely on experienced leaders like Cameron Munster, Harry Grant and Tino Fa’asuamaleaui to inspire a response. Slater’s side is known for its resilience and ability to perform under pressure, particularly when facing elimination scenarios. Queensland’s focus will be on neutralizing NSW’s attacking threats while exploiting any fatigue in the Blues’ forward pack.
The Maroons’ Game I loss highlighted areas needing improvement, particularly in defensive structure and finishing. Slater will demand a more disciplined performance, with set-piece execution and counterattacking speed key to keeping the series alive.
Historical Rivalry and MCG Significance
The State of Origin rivalry remains one of Australian sport’s greatest spectacles, blending intense competition with state pride. NSW leads the all-time series, but Queensland has produced memorable comebacks. Playing at the MCG adds another layer, with the venue’s history of hosting major events creating an electric atmosphere for players and fans.
Victoria’s neutral ground status often produces high-quality, hard-fought matches. Both teams have strong supporter bases in Melbourne, ensuring a passionate crowd that will add to the occasion. The MCG’s large capacity and excellent facilities provide the perfect stage for Game II.
Key Players to Watch
For NSW, Nathan Cleary’s creativity and goal-kicking accuracy will be crucial. James Tedesco’s leadership at fullback and the forward pack led by Payne Haas and Isaah Yeo provide the platform for success. Kotoni Staggs and Tolutau Koula’s centre partnership offers strong attacking potential.
Queensland’s hopes rest heavily on Cameron Munster’s playmaking and Kalyn Ponga’s attacking threat at fullback. Harry Grant’s hooker work and Tino Fa’asuamaleaui’s forward dominance will be vital in winning the battle up front. Reece Walsh’s inclusion adds speed and unpredictability to the backline.
Tactical Outlook and Predictions
NSW is favored to secure the series with a strong performance at the MCG, but Queensland’s pride and desperation make them dangerous. The Blues will likely aim for early dominance through forward pressure and structured attack, while the Maroons will look for opportunities on the counter and through set-piece plays.
Weather conditions in Melbourne could influence tactics, with potential rain favoring forward battles. Both coaches have prepared their teams for a physical contest, with fitness and discipline expected to play major roles in the outcome.
A NSW victory would secure the series and provide bragging rights, while a Queensland win would force a decider in Brisbane, keeping the rivalry alive for another match. The result will have significant implications for player confidence and future selections.
Broader Context in Rugby League
State of Origin remains the pinnacle of domestic rugby league, showcasing the best talent Australia has to offer. The 2026 series has already delivered excitement, and Game II promises more as both teams fight for supremacy. The outcome will influence perceptions heading into the NRL season and international competitions.
For players, Origin selection and performance carry career-defining weight. Young debutants like Nawaqanitawase and Lucas have the opportunity to make their mark, while veterans like Tedesco and Munster aim to add to their legacies.
The MCG’s hosting reinforces Victoria’s growing importance in the rugby league calendar, bringing the sport to new audiences and strengthening its national footprint.
As kickoff approaches, anticipation builds for what promises to be a memorable State of Origin clash. NSW seeks to capitalize on its series lead and home-state advantage in Victoria, while Queensland fights to keep its title hopes alive. The MCG will provide the backdrop for another chapter in one of Australian sport’s greatest rivalries.
Business
Ford, NASCAR launch military tribute campaign for America’s 250th year
Ford’s limited-edition Super Duty Proud to Honor package features patriotic styling, with a portion of proceeds supporting Blue Star Families. (Credit: Ford Motor Company)
Ford Motor Company and NASCAR are revving up a new tribute to U.S. service members and military families.
The companies are joining forces during America’s 250th anniversary year to launch a military-focused campaign anchored by a new Veterans Day race and a limited-edition Super Duty Proud to Honor package that will support Blue Star Families, a nonprofit serving military and veteran families.
Ford and NASCAR are unveiling the campaign Wednesday during a tribute event aboard the USS Midway in San Diego, where they will be joined by actor and Marine Corps veteran Rob Riggle, Blue Star Families, Zac Brown Band and more than 1,500 members of the local military community.
Nick Ford, director of corporate strategy at Ford Motor Company and the great-great-grandson of Henry Ford, told FOX Business the effort builds on the automaker’s long history of supporting those who serve.
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A graphic promotes Ford, Ford Racing, NASCAR and Blue Star Families’ “Proud to Honor” event celebrating military families, featuring a special performance by Zac Brown Band and guest host Rob Riggle at the USS Midway Museum in San Diego. (Ford Motor Company)
“From day one, supporting the military community has been a huge priority for us,” Nick Ford said. “… We have always tried to show up for our country and for those who serve.”
At the center of the campaign is the “Proud to Honor Veterans Day Classic,” scheduled for Nov. 11, 2026.
The first-of-its-kind race will feature Ford Mustang Dark Horse R race cars and Ford Racing drivers in a tribute honoring all six branches of the U.S. military. The event will also include a concert headlined by Zac Brown Band, with additional performers expected to be announced.
Nick Ford said the company wanted to bring together its racing business and its military support efforts as the U.S. marks its 250th anniversary.
“It is going to be a really special day,” Nick Ford said.
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A Ford Super Duty Proud to Honor truck is displayed, featuring patriotic styling and dark exterior trim.
Tim Clark, executive vice president and chief brand officer at NASCAR, told FOX Business the partnership reflects a shared commitment between the racing organization and Ford to recognize military families and veterans.
“Being able to put a marquee event on a holiday like that… that’s kind of core to [what] NASCAR is,” he said. “… I think it’s a great way to bring that community together.”
Ford is also using the campaign to debut a limited-edition Super Duty Proud to Honor package, available on F-250, F-350 and F-450 models.
The trucks will feature red, white and blue styling, darkened exterior trim and black wheels, with a portion of proceeds going directly to Blue Star Families.
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Ford and NASCAR are unveiling the campaign during a tribute event aboard the USS Midway in San Diego. (K.C. Alfred / The San Diego Union-Tribune via Getty Images)
Later this week, Ford Philanthropy will host a Ford Driving Skills for Life program for local military teens, focused on helping young drivers build critical safety skills behind the wheel.
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The announcement follows another Ford campaign tied to the nation’s 250th anniversary.
Earlier this year, the Michigan-based automaker launched its “American Value. For American Values” campaign, offering employee pricing to all U.S. customers on most new 2025 and 2026 Ford and Lincoln vehicles through July 6.
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ClearBridge Small Cap Growth Fund Q1 2026 Commentary
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AIEQ ETF: Sophisticated AI-Driven Strategy That Underperforms (NYSEARCA:AIEQ)
Vasily Zyryanov is an individual investor and writer.He uses various techniques to find both relatively underpriced equities with strong upside potential and relatively overappreciated companies that have inflated valuation for a reason.In his research, he pays much attention to the energy sector (oil & gas supermajors, mid-cap, and small-cap exploration & production companies, the oilfield services firms), while he also covers a plethora of other industries from mining and chemicals to luxury bellwethers.He firmly believes that apart from simple profit and sales analysis, a meticulous investor must assess Free Cash Flow and Return on Capital to gain deeper insights and avoid sophomoric conclusions.While he favors underappreciated and misunderstood equities, he also acknowledges that some growth stocks do deserve their premium valuation, and its an investor’s primary goal to delve deeper and uncover if the market’s current opinion is correct or not.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
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SK Hynix ships samples of next-gen memory; shares surge to record high

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Apple customers could pay more as AI demand drives up chip costs: report
Check out what’s clicking on FoxBusiness.com.
Apple customers may soon pay more for their favorite devices as the company faces soaring costs for memory and storage chips.
The tech giant’s CEO, Tim Cook, told The Wall Street Journal that Apple has tried to absorb the increases but can no longer fully protect customers from higher prices. Cook did not say when prices would rise or which products would be affected.
“Unfortunately, price increases are unavoidable,” Cook told the outlet. “We’re doing our best to mitigate the huge increases that are being passed to us, and we’ve been trying to shield our customers from the increases, but the situation has become unsustainable.”
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Apple’s next major product launch is expected in September, when the company is likely to unveil its iPhone 18 lineup. (Kyle Grillot/Bloomberg via Getty Images / Getty Images)
Apple’s next major product launch is expected in September, when the company is likely to unveil its iPhone 18 lineup.
The remarks come as artificial intelligence (AI) companies buy up huge amounts of memory and storage chips, according to The Wall Street Journal.
Research firm TechInsights estimates Apple would need to add about $270 to the next iPhone Pro model to maintain its profit margins, the outlet reported.
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Apple CEO Tim Cook said the company can no longer fully protect customers from higher prices. (David Paul Morris/Bloomberg via Getty Images / Getty Images)
Cook said DRAM chips are a key concern because more of them are now being used for AI servers.
“There’s less supply at a time when consumers want devices and the memory guys are passing along huge price increases,” Cook told The Wall Street Journal. “We definitely need memory pricing and supply to return to reasonable levels for consumer products. That’s the bottom line.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 295.95 | -3.29 | -1.10% |
Apple may use its cash reserves to help expand chip supply, Cook said, but the company does not plan to build its own memory factories.
“This is a hundred-year flood,” said Cook. “I’ve never seen anything like it in any area in over 40 years.”
FORMER APPLE CEO SEES OPENAI POSES LARGEST COMPETITIVE THREAT TO TECH GIANT IN YEARS

The remarks come as artificial intelligence companies buy up huge amounts of memory and storage chips. (Kevin Carter/Getty Images / Getty Images)
Apple announced earlier this year that Cook will step down on Sept. 1 after 15 years as chief executive.
He will transition to executive chairman of the company’s board of directors and will be succeeded by longtime Apple veteran John Ternus, the company’s senior vice president of hardware engineering.
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Apple could not immediately be reached by FOX Business for comment.
FOX Business’ Bonny Chu contributed to this report.
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