- The US and Iran exchanged strikes for the 12th consecutive night; US President Trump said Iran is getting hit so hard and that they want to make a deal.
- Yemeni Houthis targeted two Saudi oil tankers in the Red Sea, while reports noted that at least 9 ships have stopped passing through Bab al-Mandeb, following the blockade on Saudi ports by Houthis.
- Alphabet (GOOGL) shares fell -3.3%, Tesla (TSLA) slipped over 4%, and IBM (IBM) was modestly softer post-earnings.
- APAC stocks were predominantly in the green, DXY mildly softened, 10yr UST futures lingered near the prior day's trough, and crude futures extended gains.
- European equity futures indicate a slightly lower cash market open, with Euro Stoxx 50 futures down 0.3%.
- Looking ahead, highlights include Canadian Retail Sales (May), US Initial Jobless Claims (Jul/18), Chicago Fed National Activity Index (Jun), EU Consumer Confidence Flash (Jul). Policy Announcements from the ECB, CBRT, and SARB. Comments from ECB President Lagarde. Supply from the UK & the US. Earnings from Intel, Blackstone, Lockheed Martin, RTX, TotalEnergies, Thales, SAP & Repsol.