Recap of last week's international markets.
Closing on July 11: Tech stocks propelled US markets higher, with the S&P 500 gaining 1.2% for the week.
Top 20 US stocks by trading volume on July 11: Meta Platforms, Inc. (NASDAQ: META) posted its best weekly performance since early 2024.
Popular US-listed Chinese stocks showed mixed results on July 11, with Alibaba up 1.05% and Kanzhun Limited down 3.51%.
Commodities summary: Crude oil, gold, and aluminum prices generally fell on Friday.
European stocks ended a four-week winning streak; easyJet shares surged.
Macroeconomic and Geopolitical Developments
US Central Command announced it has launched a new round of strikes against Iran.
Iran's Foreign Ministry condemned the US military attacks, vowing to firmly resist military aggression.
Explosions were again heard in multiple locations across Iran.
Syria's People's Assembly held its first session of the transition period, electing a speaker.
Israel is set to hold parliamentary elections on October 27.
Survivors of the attack on a US military base in Kuwait accused the military of dereliction of duty in its decision-making.
Following mutual strikes between the US and Iran, the two sides offered conflicting statements on the navigational status of the Strait of Hormuz.
Kuwait's military reported that border posts and drilling platforms were damaged in attacks.
The US military has again carried out strikes against Iran.
Iran stated that military targets on Qeshm Island were attacked.
Former President Trump is considering adopting elements of Australia's pension system.
Corporate News
Delta Air Lines reported a 19% year-over-year increase in Q2 revenue, though soaring oil prices due to international conflicts eroded net profits.
French telecom giant Xavier Niel plans to acquire a 16.2% stake in Vodafone for $5.9 billion, becoming its largest shareholder.
Apple (NASDAQ: AAPL) has formally filed a lawsuit against OpenAI, accusing it of trade secret theft.
MGM Resorts International has entered substantive negotiations with its largest shareholder regarding a privatization proposal.
The New York Times has filed a countersuit against a US federal employment agency, alleging political retaliation through a "discrimination lawsuit."
Samsung plans to advance the operational start date of its first Yongin semiconductor fab to 2029.
OpenAI is betting on the home market, attempting to bring ChatGPT into households.
Commentary and Analysis
The wave of tech industry layoffs is intensifying, with a majority of US workers supporting the establishment of an AI wealth fund.
Former President Trump stated the US military delivered "powerful strikes" against Iran, and the Strait of Hormuz "remains open."
Anti-AI sentiment continues to rise across the US, with seven in ten American adults believing AI will take human jobs.
A bipartisan housing bill automatically became law without Trump's signature, with several lawmakers celebrating.
US officials stated that a US team did not travel to Oman for talks with Iran.
The Trump administration is growing increasingly pessimistic about reaching a nuclear deal with Iran.
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