Throughout the day, global markets focused on energy, geopolitical developments, defense spending, and technology stocks. As the U.S. announced it would provide a $17.5 billion loan to support the construction of large-scale nuclear reactors, energy security once again rose to the top of public attention.
In Europe, political uncertainties drew attention. It was reported that Italian Prime Minister Giorgia Meloni is considering calling an early election as early as April of next year. In the UK, the Chancellor of the Exchequer stated that the defense plan would be announced ahead of the NATO summit in July. It was noted that this step aims to address concerns regarding the government’s defense spending.
In the energy markets, statements from Russia took center stage. Russia’s Deputy Prime Minister said that a ban on diesel exports was under consideration and that fuel reserves were currently being used. This statement was viewed as a development that could heighten concerns regarding global fuel supply.
Data on the U.S. economy, meanwhile, sent mixed signals. While manufacturing activity in June grew more than expected, factory employment fell to its lowest level in six years. Despite signs of recovery on the production side, the data indicated that weakness in the labor market persists.
Technology stocks also saw declines in value. SpaceX’s market capitalization fell below $2 trillion at the opening, while the company’s stock price dropped to as low as $147.11. Nvidia’s market capitalization also fell below the $5 trillion mark.
In the Middle East, developments involving Iran, Oman, Israel, Lebanon, and the U.S. were closely monitored. Iran’s Ministry of Foreign Affairs emphasized that the country’s missile program has never been part of any negotiations. Iranian Parliament Speaker Mohammad Baqir Qalibaf announced that a joint committee had been established with Oman to discuss the Strait of Hormuz, adding that details would be clarified in the coming days.
In a joint statement issued by Oman and Iran, while stressing their sovereign rights over territorial waters, it was noted that the two countries had agreed to develop a joint agreement regarding navigation management. Lebanon’s Hezbollah, meanwhile, claimed that Israel’s attack on southern Lebanon violated the ceasefire agreement.
The U.S. military announced that it would maintain its presence and state of readiness in the Middle East, while it was reported that two aircraft carriers continue to be deployed in the region. U.S. President Donald Trump, meanwhile, stated that Iran had fully accepted long-term nuclear inspections and that this was a precondition for new negotiations.
