Business
Stocks waver on Wall Street while crude oil prices fall for the first time in a week
Every major index lost ground overall for the week amid increasing pressure from a sharp escalation in the U.S. war with Iran. Investors are also contending with new tariffs from the Trump administration and worries about the economy suffering under the weight of stubborn inflation.
The S&P 500 barely budged in a day of uneventful trading. It rose 3.68 points, or less than 0.1%, to 7,411.98. The index notched its second consecutive losing week, which hasn’t happened since March.
The Dow Jones Industrial Average rose 235.60 points, or 0.5%, to 51,947.25.
The Nasdaq fell 161.87 points, or 0.6%, to 24,975.82. It was weighed down by sharp losses from several big tech stocks.
Micron Technology fell 7% and Broadcom fell 2.7%. Both companies have large market values that tend to weigh more heavily on the market. They were big reasons for the technology-heavy Nasdaq lagging the market, and also why the market’s gains were kept in check despite more stocks rising than falling within the S&P 500.
Heavy fighting in the Middle East throughout the week again threatened to slow the global flow of oil and gas. It has been an ongoing concern for Wall Street, and now many of the buffers in the energy market from earlier in the year, including strategic reserves in the U.S., have been weakened. “If escalation continues and the Strait of Hormuz remains closed, the impact will land on an energy market with far less resilience than in the spring,” wrote Theodore Bunzel, head of geopolitical advisory at Lazard Asset Management, in a report.
Brent crude, the international standard, fell 3.9% to $96.78. It rose the first four days of the week and moved back above $100 on Thursday. Before the Iran war began in late February it was trading around $72 per barrel.
Bond yields also eased and relieved some of the pressure on stocks. The yield on the 10-year Treasury fell to 4.68% from 4.71% late Thursday.
Markets in Europe gained ground, while Asian markets closed lower.
The U.S. is also ramping up its global trade war with a fresh round of tariffs on dozens of nations. The new round of tariffs impacts nearly all U.S. imports and they are paid by companies importing those goods, who then typically pass the added costs along to consumers. That move came just as the clock was running out Friday on stopgap levies the president imposed after a stinging defeat for other tariffs at the Supreme Court.
Rising energy prices and fresh tariffs could result in hotter inflation, which has been squeezing consumers and looming over the Federal Reserve’s interest rate policy.
The Fed meets next week and has been closely monitoring prices and their impact. Rising inflation dashed hopes earlier this year for an interest rate cut. Wall Street has since leaned more toward a potential rate increase, which the central bank can use to help cool inflation.
Wall Street is anticipating at least one rate hike by the end of the year, with a nearly 38% chance that could happen at the upcoming meeting next week, according to CME FedWatch.
Higher energy costs threaten to take a bigger chunk out of household budgets, which means a shift in spending toward more basic needs, like gasoline. Nationally, a gallon of gasoline costs $4.10 per gallon, according to AAA. That’s still lower than this spring as the conflict in Iran expanded, but it’s almost a dollar higher than last year at this time.
Investors are worried about the impact to companies profits. Those profits and expectations for more growth are what typically justifies a stock’s value. The latest round of corporate earnings showed that companies are still notching growth, but concerns are growing.
American Express fell 4.3% despite reporting a jump in profit during its most recent quarter. AmEx maintained its profit forecast for the year and has been spending more heavily to keep wealthy individuals amid more competition.
Worries about the sustainability of broader profits are on top of lingering concerns about AI-focused tech companies. Companies like Alphabet and Nvidia have been spending heavily on AI technology. Investors are increasingly questioning whether those investments will produce profits to justify the large stock values that have been steering the broader market higher throughout the year.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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Meghan Markle’s Portugal Swimsuit Photo Sparks a Fresh Round of ‘Cosplaying Diana’ Accusations Online
A single beach photo from Meghan Markle’s family vacation in Portugal has reignited a familiar debate on social media, with some users accusing the Duchess of Sussex of deliberately styling herself after her late mother-in-law, Princess Diana, while others dismissed the comparison as overblown.
Meghan shared a photo carousel to Instagram on Wednesday, July 23, captioned “Summer Holiday,” documenting a family trip to Melides, a coastal town in Portugal’s Alentejo region that the Sussexes have visited regularly in recent years. Among the images was one showing Meghan in a black backless, high-cut one-piece swimsuit, walking along the beach as Prince Harry and their two children, Prince Archie and Princess Lilibet, ran ahead toward the water.
Where the comparison came from
The photo quickly drew comparisons to a similar look Princess Diana wore during a 1993 vacation to Nevis, taken just months after her separation from then-Prince Charles was announced. Diana had traveled on that trip with her sons, Princes William and Harry. Diana was also photographed wearing similarly styled, brightly colored and animal-print open-back swimsuits during a 1997 trip to Saint-Tropez, images that remain among the most widely circulated of her later public life.
On X, the account British Royaltea posted a side-by-side comparison of the two images, with a caption asserting that Meghan seemed “obsessed with cosplaying Diana.” Another user shared a larger photo collage making the same comparison and wrote simply, “Sadly yes she does.”
Not everyone agreed
The reaction on social media was far from unanimous. Some users pushed back directly on the comparison, arguing that a simple black swimsuit does not constitute deliberate imitation. One user wrote, “So she can never wear anything that is similar to Diana?” adding that “Diana wore some pretty basic clothes” and noting plainly, “It’s a black one piece swimsuit.” Those responses framed much of the criticism as overreach rather than legitimate evidence of intentional styling.
Still, critical commentary continued alongside the pushback. One user wrote, “I really dislike Meghan for this curated cosplay,” while another asked more pointedly, “Does she want to be her or just have the popularity she had.”
A pattern that predates this trip
This is not the first time Meghan’s public appearance has drawn direct comparisons to Diana. In November 2025, Meghan appeared on the cover of Harper’s Bazaar’s December 2025/January 2026 Art Issue, a shoot photographed by Malick Bodian and styled by Carlos Nazario, which drew similarly pointed reactions online. One widely circulated image from that shoot showed Meghan sitting cross-legged and barefoot on the floor, a pose closely echoing a 1991 photograph of Diana taken by Patrick Demarchelier for Vogue. A separate black-and-white image from the same shoot, showing Meghan lounging on an oversized chair with her head resting on her hand, drew comparisons to a 1997 Mario Testino photograph of Diana taken for Vanity Fair.
That earlier round of criticism included commentary from political commentator Milo Yiannopoulos, who posted the images side by side on X and described Meghan in sharply personal terms as, in his words, “the creepiest, most sinister, most wretched person on the face of the earth.” Newsweek reported that the broader online response to the Harper’s Bazaar shoot included accusations characterizing Meghan’s styling as a “sinister” imitation of Diana. It remains unclear how much creative input Meghan herself had over the specific poses and styling choices used in that shoot, since those decisions would typically involve the magazine’s photographer and stylist as well.
Beyond the two magazine and vacation moments, commentators have also pointed to a February 2025 Instagram Story in which Meghan was shown watering the garden at her Montecito, California, home while wearing a purple Northwestern University crewneck sweatshirt, a look some noted closely resembled a sweatshirt Diana was photographed wearing during a gym visit in the final year of her life.
A separate controversy in the same photo set
Meghan’s Portugal swimsuit photo wasn’t the only image from Wednesday’s carousel to draw scrutiny. A separate photo in the same post, showing Harry, Archie and Lilibet walking down a tree-lined path believed to be at Althorp, the Spencer family estate where Diana grew up, generated its own wave of criticism. Harry and Archie appeared to be carrying large bouquets of flowers in that image, fueling speculation that the family had visited Diana’s grave, located on a small island within Althorp’s Oval Lake. Neither Meghan nor Harry has confirmed whether the photo was taken during a visit to the burial site specifically. One X account, @unreMARKLEble, described that particular post as “disrespectful, exploitative, and gross.”
Context around the trip itself
According to reporting from Town & Country, the family’s stay in Melides continues a pattern of visits the Sussexes have made to the area for several years. People magazine reported in 2024 that the couple had purchased a home in Portugal, though the exact location has never been publicly disclosed. The Portugal leg of the trip preceded the family’s higher-profile return to the United Kingdom, marking their first visit to Britain together in several years.
No official response from the Sussexes
As of this week, representatives for Meghan and Harry have not issued any statement addressing the swimsuit comparison specifically. The couple has previously responded to related criticism concerning their children’s privacy in social media posts, but neither has commented publicly on the recurring comparisons drawn between Meghan’s styling choices and those of Diana.
Given how quickly and repeatedly similar comparisons have surfaced following Meghan’s public appearances over the past year, from the Harper’s Bazaar cover shoot to this week’s vacation photos, further scrutiny of her styling choices against Diana’s is likely whenever new images are shared. For now, the swimsuit photo has become the latest flashpoint in an online debate that shows little sign of settling, split between those who see intentional imitation and those who view the comparisons as reading too much into an ordinary vacation photo.
Business
Interactive Brokers: Steady Account And Asset Growth (Rating Upgrade)
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Can the Philadelphia 76ers Win the 2027 NBA Championship After Landing LeBron James? Here’s What Bettors Think
Philadelphia’s improbable pursuit of LeBron James paid off Friday, and betting markets responded almost instantly, catapulting the 76ers from afterthought status into the thick of the 2027 NBA championship conversation in a matter of hours.
James agreed to a two-year, $8 million contract with Philadelphia, joining a core that already includes Joel Embiid, Tyrese Maxey and newly acquired Jaylen Brown. The move triggered one of the sharpest single-day shifts in championship odds seen across major sportsbooks and prediction markets this offseason.
How dramatically the odds moved
At bet365, the Sixers jumped from +2700 to +1100 to win the title following the announcement. FanDuel Sportsbook placed Philadelphia at +1000, ranking the team as the fourth favorite behind the Oklahoma City Thunder (+260), San Antonio Spurs (+270) and New York Knicks (+900). ESPN reported the Sixers moved to +900, tying them for third with the reigning champion Knicks, after starting the day at 20-1 and having already shortened from 60-1 following the Jaylen Brown trade earlier this month.
On the prediction market Kalshi, Philadelphia’s implied championship probability roughly doubled from 6 cents to 12 cents, equivalent to +733 American odds, placing the Sixers third behind only Oklahoma City and San Antonio. Polymarket showed a similar jump, with Philadelphia’s odds climbing to between 12% and 13%, also good for third place in that market. BetMGM’s Halvor Egeland, the sportsbook’s trading strategy manager, described the wagering activity following the announcement bluntly: “It’s been nothing but 76ers.”
How the Eastern Conference picture shifted
Philadelphia’s rise has been especially dramatic within its own conference. At Kalshi, the Sixers actually passed the defending champion Knicks to become the outright favorite to win the East, priced at +684 as of Friday afternoon, ahead of New York’s +1240. Other books showed a closer but similarly favorable gap, with FanDuel pricing Philadelphia at +390 to New York’s +330, and bet365 having the Sixers at +350 behind the Knicks’ +330.
A dramatic turnaround in a matter of weeks
The scale of Philadelphia’s odds movement this offseason has been striking even by NBA standards. According to Sports Betting Dime, BetMGM had the Sixers at +6000 to win the title back in mid-June, ranking 12th in the league and nowhere near contender status. That number dropped to +2000 after Philadelphia acquired Jaylen Brown from Boston in exchange for Paul George and draft compensation. James’ signing then pushed Philadelphia’s odds under 10-1, a shift Sports Betting Dime described as making the Sixers the team that gained the most of any roster in the league this summer.
Why some analysts remain cautious
Despite the surge in championship odds, several analysts have flagged real questions about whether Philadelphia’s roster can translate raw talent into a title. Bleacher Report noted that James could plausibly function as just the third offensive option in a lineup featuring Embiid, Brown, Maxey and VJ Edgecombe, a level of depth that could prove either a strength or a liability depending on how quickly the pieces mesh together on the court.
Health remains perhaps the single largest variable hanging over Philadelphia’s championship hopes. Embiid has a well-documented history of injury-shortened seasons, and James, who will turn 42 in December, missed 22 games during the 2025-26 season with the Lakers. Bleacher Report noted that pairing a player with Embiid’s injury record alongside a 41-year-old James “presents some risk,” even as the talent on paper ranks among the league’s best.
A market caught off guard
Perhaps the most notable aspect of Friday’s odds movement was how unexpected it was right up until the moment it happened. According to Yahoo Sports, more than $226 million had been traded on Kalshi’s market tracking James’ free agency decision, with the Miami Heat holding a commanding lead at nearly 45% as recently as Friday morning. As late as 11:29 a.m. Eastern time Friday, Philadelphia still ranked just fourth among suitors on that market, trailing Miami, Cleveland and Golden State, with only an 8.9% implied probability of landing James. The Sixers had briefly touched a high-water mark of 18% in early July before fading well behind the field in the days that followed.
Historical context for Philadelphia’s odds
Whether Philadelphia’s improved title odds translate into an actual championship remains an open question, particularly given the league’s recent parity. Covers.com noted that the NBA has crowned eight different champions in eight seasons since the Golden State Warriors repeated in 2018, the longest such streak of unique champions since the late 1970s. That same analysis found that 23 of the last 26 champions ranked in the top 10 in defensive rating during the regular season, and 24 of the last 26 ranked in the top five in either offensive or defensive efficiency, benchmarks Philadelphia’s roster will need to hit consistently if it hopes to build on Friday’s improved odds.
With training camp still roughly two months away, Philadelphia’s coaching staff faces the challenge of integrating four accomplished, ball-dominant scorers, Embiid, Brown, Maxey and James, into a cohesive lineup capable of contending with the league’s top defensive teams come playoff time. Betting markets have made clear that oddsmakers now view the Sixers as a legitimate top-five title contender heading into the 2026-27 season, a remarkable shift from a team that, as Bleacher Report put it, “looked completely stuck” after being swept in the second round of last season’s playoffs. Whether that improved standing on the betting board translates into an actual run to the NBA Finals will depend heavily on health, chemistry and how quickly Philadelphia’s new-look roster can find its footing together on the floor.
Business
Sensex sinks over 2,000 points in 5 days. How scary do the charts look for next week?
The Nifty lost another 102 points on Friday, extending its decline for a fifth consecutive session. Investor sentiment remained subdued as Brent crude surged above $100 a barrel following a fresh escalation in the Middle East, reviving concerns over inflation and the domestic economy.
Disappointing quarterly earnings from select large-cap companies and continued weakness in the rupee also weighed on sentiment. The dollar-rupee exchange rate held near 96.55, while surging energy costs and persistent supply-chain concerns added to market volatility.
The charts now point to a sharp deterioration in the short-term setup. Rupak De, senior technical analyst at LKP Securities, said the Nifty slipped out of its consolidation on Thursday before follow-up selling took it to 23,600 on Friday. The index has also fallen below its 50-day exponential moving average, confirming a new short-term downtrend.
“The weekly chart looks more scary,” De told ET Markets. Over the past four weeks, the Nifty has repeatedly failed to move above its 50-week exponential moving average as selling remained strong at higher levels and buying support stayed fragmented.
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For traders, 23,600 has emerged as the most consequential level for next week. “A fall below 23600 might trigger a severe correction, as investors would be running away, putting the Nifty at greater downside risk,” De said.On the upside, 24,000 has become the line of polarity. The broader trend is likely to remain weak unless the index reclaims that level, according to De.
Friday’s sharp recovery from the intraday lows, however, offers a limited counterpoint to the bearish weekly structure. Nagaraj Shetti, senior technical research analyst at HDFC Securities, said the Nifty formed a sizable green candle at the lows, signalling the emergence of some buying interest.
The index is positioned at the crucial 23,600 support, which coincides with the opening upside gap of June 15 and an ascending trend line. That creates the possibility of a near-term relief rally even though the short-term trend has weakened sharply.
Shetti expects the Nifty could bounce toward the immediate resistance at 24,200 next week before coming under pressure again. While the short-term trend has turned bearish, he said the medium- to long-term uptrend remains intact.
The technical roadmap for next week is therefore narrow. The Nifty must first defend 23,600, reclaim 24,000 and then attempt a move toward 24,200. Failure to hold the lower end could open the door to a much sharper decline.
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The macroeconomic backdrop offers little immediate comfort. Vinod Nair, head of research at Geojit Investments, said market sentiment is likely to remain under pressure if oil prices stay elevated, potentially hurting key economic indicators and growth dynamics.
“The US 10-year yield has climbed to a 52-week high despite crude oil trading well below its crisis-era peak, reflecting the bond market’s concerns over energy-led inflation risks, resilient labour market conditions, and a persistently hawkish Fed,” Nair said.
Those factors have raised the implied probability of a US rate increase in September. New US tariffs on imports have added another headwind for export-oriented economies, while higher interest rates have weighed particularly heavily on technology-focused markets.
India’s dependence on imported oil is also returning as a central market risk. VK Vijayakumar, chief investment strategist at Geojit Investments, said the Houthi attack on Saudi Arabian tankers in the Red Sea had aggravated the West Asia crisis and pushed crude prices higher.
“When Brent crude trades above $95, which is the price now, it is bound to have sentimental impact on the Indian market. India’s vulnerability to high oil price is once again becoming a macro concern,” Vijayakumar said.
He expects negative sentiment to keep stock prices largely subdued, but said the correction could create opportunities for long-term investors to gradually accumulate high-quality companies in growth segments. Banking stocks appear attractively valued in the context of strong credit growth and very low non-performing assets, he said.
Markets will now track upcoming corporate earnings, crude oil prices and defensive allocation strategies. Domestic retail liquidity remains robust, but the charts suggest buyers will need to defend 23,600 before any credible recovery can begin.
Business
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Cited by Barron’s as one of the top financial websites to visit on the weekend, Financial Sense (www.financialsense.com) provides educational resources to the broad public audience through a daily podcast, editorials, current news and resource links on salient financial market issues. Begun in 1985 as a local talk radio program, Financial Sense Newshour (www.financialsense.com/financial-sense-newshour) is a weekly webcast with host Jim Puplava and top financial thinkers. Writing staff of Financial Sense includes: Jim Puplava, Chris Puplava, Ryan Puplava, and Cris Sheridan.
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US Measles Cases Hit a New Record High in 2026 as Vaccination Rates Continue to Steadily Decline, CDC Says
The United States has recorded more measles cases in 2026 than in any year since the disease was declared eliminated from the country in 2000, a milestone public health experts warn could signal a lasting shift toward a country where the once-vanquished virus regularly sickens thousands of people each year.
The Centers for Disease Control and Prevention announced Friday that 2,318 confirmed measles cases have been reported so far this year, surpassing last year’s record of more than 2,200 cases, which included two deaths among unvaccinated children. Taken together, more measles cases have now been reported in the United States over the past two years than during the entire quarter-century stretch from 2000 through 2024 combined.
Where the cases are coming from
Much of this year’s case total traces back to a large outbreak that began in South Carolina last October within a close-knit evangelical Slavic community, which quickly grew into the largest single measles outbreak in the country since 2000. That outbreak ultimately sickened nearly 1,000 people before state health officials declared it over in April.
The virus has continued spreading elsewhere even after that outbreak ended. Utah is currently battling an outbreak that began along its border with Arizona last summer and has since grown to more than 700 cases spread across every jurisdiction in the state. Virginia health officials have reported more than 170 cases tied to an outbreak that started in mid-May, while Pennsylvania is dealing with a separate outbreak that has sickened more than 100 people this year. In total, the CDC has tracked 35 distinct measles outbreaks across the country in 2026, with the vast majority of cases occurring among people who were unvaccinated or whose vaccination status was unknown.
A trend years in the making
Public health experts say this year’s record numbers reflect a longer-term erosion in vaccination coverage rather than a sudden, isolated event. Nationally, the measles vaccination rate declined during the Covid-19 pandemic and has yet to recover to the roughly 95% threshold generally considered necessary to prevent sustained community spread of the virus. The latest national data shows approximately 93% of kindergartners have received the measles, mumps and rubella vaccine, but that figure masks significant local variation, with some communities approaching near-universal vaccination while others fall below 80%.
Because measles ranks among the most contagious viruses known, experts say it is uniquely effective at exploiting exactly those kinds of vaccination gaps. “It’s going to find people who aren’t immune,” said Dr. David Kimberlin, a pediatric infectious disease expert at the University of Alabama at Birmingham. “It’s like a heat-seeking missile.”
Children bearing the brunt
Children have accounted for more than 70% of this year’s confirmed measles cases. More than 80 children and adolescents have required hospitalization for complications including pneumonia, which leaves patients struggling to breathe, and brain swelling, which can result in lasting effects such as blindness, deafness or intellectual disabilities. No specific treatment currently exists for measles itself, though researchers continue working to develop one. While many affected children were unvaccinated by parental choice, local health departments have also documented cases among infants too young to receive the vaccine and among people with medical conditions that make them ineligible for it.
The economic toll
Beyond the direct health impact, the outbreaks have carried a significant financial cost. State and local public health departments have had to divert substantial resources toward tracing exposures, running vaccination campaigns and processing test results. Researchers have estimated that each individual measles case cost the United States more than $100,000 in 2025 alone, once accounting for health care spending and lost workdays for sick individuals and their caregivers.
Political context around the federal response
The resurgence has unfolded under the leadership of Health Secretary Robert F. Kennedy Jr., whose department several experts say has not pursued a coordinated national campaign to raise vaccination rates. Kennedy has halted funding for research into vaccine hesitancy, downplayed the risks associated with measles, and pushed efforts to examine claims that vaccines are unsafe, actions that some public health researchers argue have compounded the ongoing spread.
Jennifer Nuzzo, director of the Pandemic Center at the Brown University School of Public Health, said the pattern is likely to persist without a meaningful shift in vaccination policy. “This is just going to keep happening,” Nuzzo said. “It’s going to mean living in a perpetual state of vulnerability and risk until we get vaccination levels up.”
Dr. Jonathan Temte, a former chairman of the CDC’s vaccine advisory committee, pointed specifically to the absence of a visible federal public awareness campaign. “We have seen virtually no national messaging. We’ve seen no ad campaigns,” Temte said, adding, “I think that really tells us something about their priorities.”
The administration’s response
A spokeswoman for the Department of Health and Human Services, Courtney Spencer, said the department has mounted an “aggressive outbreak response,” pointing to $8.5 million in funding provided to states to help contain outbreaks along with technical assistance the CDC has offered to affected areas. The department has also stated that “M.M.R. vaccination remains the best protection against measles,” according to Spencer.
A global concern
The United States is not alone in facing a measles resurgence this year. Canada, which lost its own measles elimination status last year, has reported more than 1,000 cases in 2026. Health officials in Bangladesh have confirmed more than 8,000 infections since March.
An international panel of experts is scheduled to meet in November to determine whether the United States should formally lose its measles elimination status, a designation the country has held since 2000 and long regarded as one of its signature public health achievements. Losing that status would mark a significant symbolic and practical setback, one that public health officials say would be difficult to reverse without a substantial, coordinated push to raise vaccination coverage back above the threshold needed to prevent the virus from continuing to spread through underimmunized communities nationwide.
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