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U.S. Stocks Rise as Middle East Tensions Ease, Oil Prices Drop 5%
The major averages began the week and the month with a winning session as easing tensions in the Middle East sent oil prices sharply lower. Oil prices dropped about 5% after President Trump said on Sunday that he canceled a planned attack on Iran, adding that negotiations between the two sides would resume Monday. The news follows U.S. media reports late last week that Trump was preparing a new wave of strikes on Iranian infrastructure.Meanwhile, earnings season remains a catalyst, with investors awaiting results from Palantir after Monday's close, followed later this week by reports from AMD, McDonald's, Pfizer, Eli Lilly, Disney and Uber. The market is also preparing for SpaceX's first earnings report since its public listing.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:AstraZenecais in talks to combine with Bristol Myersfor $400B,Sonyand Disney's"Spider-Man: Brand New Day" has reportedly generated thethis year and the second highest in Hollywood historyIntegerby KKRin a $5.7B transactionCuriumLantheusfor up to $114.50 per shareAmazonhit a new all-time high to start the week, with its2. WALL STREET CALLS:Circle Internetto Underweight at Morgan StanleyMeliusStarbucksto Hold following last week's earnings reportBest Buywith an Underperform at BofATruistCorningto Buy on recent share pullbackeBayto Underweight at Wells Fargo3. AROUND THE WEB:N-ableis urging customers to immediately patch an actively exploited N-central authentication bypass vulnerability, BleepingComputer reportsMicrosoftis raising prices of Xbox Series X/S consoles in the U.K. and Europe, Verge reportsChina's Alibabaon Monday unveiled its largest and most capable AI model to date, sending its shares surging, while a research firm said DeepSeek's latest product offers cut-throat pricing that is more than 100 times cheaper than Anthropic's Claude Fable 5, Reuters reportsAppleis facing an unusual MacBook Air supply shortage due to industrywide memory constraints, leading to longer delivery times, selective price increases, and efforts to secure additional memory supply while prioritizing other Mac models, Bloomberg saysChevronand Exxon Mobilhave warned high fuel prices will likely remain even as oil prices drop, since the wars in Russia and the Middle East have left global refining capacity short, Bloomberg reports4. MOVERS:Atkoreincreased afterand announcing it will be acquired by Prysmian for $95 per share in cashFergusonwas higher after beingElectronic Artsin the S&P 500 at open on August 5CNH Industrialgained in New York afterand providing guidance for FY26Sportsradarfell in New York afterand cutting its guidance for FY26GameStopwas lower after exchanging $1.4B of5. EARNINGS/GUIDANCE:Sally Beautyand narrowed its guidance for FY26Indiviorand raised its outlook for FY26 along with announcing its merger agreement with Supernus PharmaceuticalsMarriott, provided guidance for Q3, and raising its outlook for FY26Trane, with CEO Dave Regnery calling it "another outstanding quarter"Loews, with EPS and revenue higher year-over-yearINDEXES:The Dow rose 693.38, or 1.32%, to 53,178.41, the Nasdaq gained 540.04, or 2.13%, to 25,913.90, and the S&P 500 advanced 110.78, or 1.48%, to 7,600.50.
Amazon's Market Cap Surpasses $3 Trillion
The major averages were sharply higher near noon, with traders approaching the new month with a sense of optimism as easing tensions in the Middle East sent oil prices sharply lower. Technology shares are helping lead the gains as investors look ahead to another busy week of corporate earnings and economic data. Of note, Amazon's market cap surpassed the $3T mark to start the week.Oil prices dropped over 6% after President Trump said on Sunday that he canceled a planned attack on Iran, adding that negotiations between the two sides would resume Monday. The news follows U.S. media reports late last week that Trump was preparing a new wave of strikes on Iranian infrastructure.Meanwhile, earnings season remains a catalyst, with investors awaiting results from Palantir after Monday's close, followed later this week by reports from AMD, McDonald's, Pfizer, Eli Lilly, Disney and Uber. The market is also preparing for SpaceX's first earnings report since its public listing.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:AstraZenecais in talks to combine with Bristol Myersfor $400B,Sonyand Disney's"Spider-Man: Brand New Day" has reportedly generated thethis year and the second highest in Hollywood historyIntegerby KKRin a $5.7B transactionCuriumLantheusfor up to $114.50 per shareAmazonhit a new all-time high to start the week, with its2. WALL STREET CALLS:Circle Internetto Underweight at Morgan StanleyMeliusStarbucksto Hold following last week's earnings reportBest Buywith an Underperform at BofATruistCorningto Buy on recent share pullbackeBayto Underweight at Wells Fargo3. AROUND THE WEB:China's Alibabaon Monday unveiled its largest and most capable AI model to date, sending its shares surging, while a research firm said DeepSeek's latest product offers cut-throat pricing that is more than 100 times cheaper than Anthropic's Claude Fable 5, Reuters reportsAppleis facing an unusual MacBook Air supply shortage due to industrywide memory constraints, leading to longer delivery times, selective price increases, and efforts to secure additional memory supply while prioritizing other Mac models, Bloomberg saysChevronand Exxon Mobilhave warned high fuel prices will likely remain even as oil prices drop, since the wars in Russia and the Middle East have left global refining capacity short, Bloomberg reportsWhile Novo Nordiskinvestors have been minimally optimistic about the two-year period of profit warnings, leadership upheaval, and share price slide as rival Eli Lillystreaked ahead, the company is now getting a boost from its new Wegovy weight-loss pill keeping its lead against Lilly's recently launched Foundayo, Reuters reportsOpenAI has found other instances of autonomous agents escaping as the company expands its investigation of the hacking incident at Hugging Face, Reuters says4. MOVERS:Atkoreincreases afterand announcing it will be acquired by Prysmian for $95 per share in cashFergusonhigher after being set to replace Electronic Artsin theat open on August 5CNH Industrialgains in New York afterand providing guidance for FY26Sportsradarfalls in New York afterand cutting its guidance for FY26GameStoplower after exchanging $1.4B offor equity5. EARNINGS/GUIDANCE:Sally Beautyand narrowed its guidance for FY26Indiviorand raised its outlook for FY26 along with announcing its merger agreement with Supernus Pharmaceuticals (SUPN)Marriott, provided guidance for Q3, and raising its outlook for FY26Tranewith CEO Dave Regnery calling it "another outstanding quarter"Loews, with EPS and revenue higher year-over-yearINDEXES:Near midday, the Dow was up 558.90, or 1.06%, to 53,043.93, the Nasdaq was up 488.92, or 1.93%, to 25,862.77, and the S&P 500 was up 95.62, or 1.28%, to 7,585.34.
Company Reports Q2 Revenue of $4.73B
Reports Q2 revenue $4.73B vs. $4.56B last year. Book value per share, excluding AOCI, increased to $99.27 as of June 30.
Company Reports Q1 Book Value Per Share at $97.20
Reports Q1 book value per share excluding AOCI $97.20. The company said, "Results decreased primarily due to lower investment income from the parent company trading portfolio and higher interest expense related to recent debt refinancing."
Live Nation Reaches Settlement with DOJ
Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly.IRAN WAR:Last night, CBS News Senior White House Correspondent Weijia Jiang stated in ato X, "NEW-In a phone interview, President Trump told me the war could be over soon: "I think the war is very complete, pretty much. They have no navy, no communications, they've got no Air Force." He added that the U.S. is "very far" ahead of his initial 4-5 week estimated time frame."Meanwhile, President Donald Trump stated in a post to Truth Social, "If Iran does anything that stops the flow of Oil within the Strait of Hormuz, they will be hit by the United States of America TWENTY TIMES HARDER than they have been hit thus far. Additionally, we will take out easily destroyable targets that will make it virtually impossible for Iran to ever be built back, as a Nation, again - Death, Fire, and Fury will reign upon them - But I hope, and pray, that it does not happen! This is a gift from the United States of America to China, and all of those Nations that heavily use the Hormuz Strait. Hopefully, it is a gesture that will be greatly appreciated. Thank you for your attention to this matter!"SETTLEMENT WITH DOJ:Live Nation Entertainmentannounced that the company has reached a settlement with the United States Department of Justice in the antitrust lawsuit brought by the DOJ. "The company has consistently maintained that the DOJ's allegations were without merit, and a portion of the original claims were dismissed by the court before trial began. This settlement will resolve all remaining matters with the DOJ, without any admission of wrongdoing, and the settlement will be reflected in a final proposed judgement that will be submitted to the court for approval. In addition, Live Nation will be divesting its 13 exclusive booking agreements with amphitheaters nationwide. All owned and operated amphitheaters will continue to be operated by Live Nation as open venues, promoting competition and maximizing show volume. In ticketing, Ticketmaster will be providing both exclusive and non-exclusive ticketing proposals to all major concert venues, which preserves the rights of venues to seek the type of contracts they preferred over the years while providing the government with restrictions to mitigate their concerns. At the same time, for venues that choose to do so, they may distribute some portion of their tickets through other primary ticketing marketplaces... This settlement will also include an eight-year extension of the company's consent decree with the DOJ, including retaliation and conditioning terms, providing venues ongoing comfort the company does not condone such behavior. There is no financial component to the settlement with the DOJ. This does not settle the claims of all plaintiffs in the lawsuit, and the company has created a $280 million settlement fund to address the states' damages claims," the company stated."Today marks a major step in improving the concert experience for artists and fans throughout the United States. Live Nation is proud to lead the way enhancing this experience with our amphitheaters, which will be open to all promoters, allowing these promoters to decide how best to distribute up to 50% of the tickets, and capping ticketing service fees at 15%. By giving artists greater flexibility in choosing their promotional partners and ticketing strategy while also keeping the cost of a concert more affordable for fans, we are putting more power where it should be - with artists and fans. We have never relied on exclusivity to drive our ticketing business, it has simply been the result of having the best products, services and people in the industry. We are happy to take greater steps to empower artists and venues in their ticketing decisions, and are confident we will continue to succeed on the quality of what we deliver," said Michael Rapino, President and CEO of Live Nation Entertainment.AIR TAXI PROGRAM:Joby Aviationannounced it has been "selected as a partner in multiple winning applications under the White House-backed Electric Vertical Takeoff and Landing (eVTOL) Integration Pilot Program (eIPP). Through the program, Joby has the opportunity to begin early operations this year in Arizona, Florida, Idaho, New Jersey, New York, North Carolina, Oklahoma, Oregon, Texas and Utah, marking a major milestone for the U.S. air taxi industry with the potential to significantly accelerate Joby's path to commercial service."
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