Price

• Wall Street indices climbed in early trading on Wednesday, with the Dow Jones Industrial Average gaining 487 points (0.9%), the S&P 500 rising 0.5%, and the Nasdaq Composite increasing by 0.3%. • This surge extends a record-setting momentum from Tuesday, when both the S&P 500 and the Dow closed at all-time highs. • The rally is driven by robust financial performance from companies as the latest earnings season nears its conclusion, providing a strong start to August.

• President Trump warned that Iran will be "hit very hard" if the Strait of Hormuz is not reopened soon to allow oil shipments to resume. • US Secretary of State Marco Rubio and Treasury Secretary Scott Bessent reported that talks are currently progressing to resolve the blockade. • The situation is critical as the US has reportedly exhausted nearly all of its global stockpile of long-range precision missiles due to the ongoing conflict.

• Wall Street indices approached new record highs on Tuesday, driven by a surge in investor sentiment. • The rally was primarily fueled by a fresh round of strong corporate earnings reports and a decline in crude oil prices. • These factors combined to lift market confidence, pushing major US stocks toward peak valuations.

• U.S. stocks rallied toward all-time highs on Monday as falling oil prices reduced investor concerns regarding persistent inflation. • The surge is supported by strong corporate performance, with S&P 500 companies projected to deliver earnings per share 47% higher than the previous year. • This growth represents the strongest spring earnings increase since 2021, when the global economy began recovering from the COVID-19 pandemic.

S&P 500 shot up 1.8% and the main measure of Wall Street’s health topped its prior all-time high set a few months agoThe US stock market rallied to records on Tuesday as profits kept piling up for companies and as oil prices eased.The S&P 500 shot up 1.8%, and the main measure of Wall Street’s health topped its prior all-time high set a couple months ago. The Dow Jones industrial average added 907 points, or 1.7%, to its own record set the day before, while the Nasdaq composite jumped 2.6%. Continue reading...

The company will release its second quarter earnings on Tuesday, giving investors a look at its potential profitFor the first time since SpaceX went public, the world will get a first-hand look into the trillion-dollar corporation’s financials. The Elon Musk-run business will report its second quarter earnings on Tuesday, while nervous investors look to gain more insight into the rocket ship company’s potential for profit.SpaceX had a blockbuster initial public offering in June with the largest-ever stock market debut in history. The IPO transformed SpaceX into a $2tn company and briefly crowned Musk the world’s first trillionaire. But since then, the company’s stock has plummeted by 24%, erasing nearly $500bn in market cap. Continue reading...

• Extreme heat waves, droughts, and forest fires across Europe are severely reducing crop yields for vegetables and grains. • Olive oil producers in Spain, Italy, Greece, and Portugal warn of crop reductions, while French grape ripening has been prematurely accelerated. • These agricultural disruptions create a significant risk of food price inflation for consumers starting as early as this autumn.

Energy company’s $5.73bn quarterly profits come after Shell posted second highest quarterly earnings on recordBusiness live – latest updatesBP has reported its highest quarterly profits since the first year of Russia’s war on Ukraine because of rising oil and gas prices caused by the Middle East crisis.The oil company’s quarterly profits more than doubled to $5.73bn (£4.27bn) in the three months to the end of June, up $2.5bn from the quarter before, as the ongoing conflict in the Middle East continued to disrupt energy exports from the Gulf. Continue reading...

Farmers warn impact of high temperatures, drought and wildfires on range of foodstuffs means costs will increaseFarmers across Europe are warning of a slump in food production and rising prices as crops from maize to salads suffer as a result of extreme heat, drought and wildfires.Olive groves have also been hit as the climate crisis drives temperatures across the continent to fresh record highs, meaning the cost of olive oil – already at elevated levels – is expected to start rising again. Continue reading...

• The Australian Securities Exchange (ASX) extended its gains following a positive rally on Wall Street. • Economist Louise Southall from Xero noted surprising Australian Bureau of Statistics (ABS) data showing discretionary spending grew at a faster rate than spending on essential items. • The market activity coincides with a drop in global oil prices, contributing to the shifting financial landscape.

• Wall Street experienced a broad rally, with the S&P 500 gaining 1%, the Nasdaq Composite rising over 1%, and the Dow Jones Industrial Average advancing 624 points (1.2%). • The surge was driven by a decline in oil prices and renewed investor optimism regarding a potential diplomatic deal between the US and Iran. • This rally is significant as it extends a recovery period following a volatile July characterized by sharp market swings.

• Stock markets rallied on the first trading day of the month, driven by gains in Big Tech and a decline in oil prices. • The market surge followed President Donald Trump's decision to call off planned military strikes against Iran, reducing geopolitical tension. • In a separate corporate move, Shell signed a deal with TotalEnergies to sell its European onshore renewables portfolio, covering assets in the U.K., Italy, Spain, and the Netherlands.

Brent crude drops by 5% after US president said talks on Middle East peace deal would resumeBusiness live – latest updatesCrude oil prices fell sharply and European stock markets rallied on Monday after Donald Trump cancelled planned strikes on Iran to focus on negotiations for a peace deal.Brent crude was trading 5% lower at $83.50 a barrel by mid-morning, after falling as low as $81.55 a barrel. US West Texas Intermediate dropped more than $5 to $79.47 a barrel. Continue reading...

• The BSE Sensex surged by over 600 points and the NSE Nifty50 climbed above 24,550, driven largely by a decline in global crude oil prices. • Market momentum is currently being shaped by a combination of corporate earnings reports, foreign investor activity, and key economic indicators. • Investors are closely monitoring external variables, including geopolitical tensions and the upcoming policy outcome from the Reserve Bank of India.

Cotality data shows a drop in Brisbane, Adelaide and Perth, as nation’s median home price falls about $19,000 below its March peakGet our breaking news email, free app or daily news podcastHouse prices have fallen in Brisbane, Adelaide and Perth as the market downturn spreads across Australia.New Cotality data, released on Monday, showed prices have fallen across most of the nation since May. Continue reading...

• Amazon received approximately $600 million in tariff refunds for Q2 2026 following a February Supreme Court ruling against IEEPA tariffs. • The company plans to automatically refund eligible customers and utilize any remaining funds to lower product prices. • Other major retailers are seeing similar impacts, with Apple reporting a 5% (11 cents) boost to earnings per share and Costco pledging to return a portion of its rebates to consumers.

Whey protein, a key infant formula ingredient, is in growing demand, partly linked to rising use of weight-loss drugsThe rise of “proteinmaxxing” – a trend in which consumers try to eat as much protein as possible – could lead to higher prices for infant formula, experts warn.Whey protein, a key ingredient in infant formula, has surged in popularity over the past year as health professionals emphasise the benefits of protein. Continue reading...

Petrol now costs more than $1.90 a litre in every capital city, with diesel expected to exceed $2.40 a litrePetrol prices could surpass $2 a litre and diesel $2.40 in coming days, after the government’s 16-cent discount ends on Sunday.The 32-cent per litre reduction in fuel excise, introduced in March at the peak of the fuel price spike, was halved to 16 cents in July. Continue reading...

Average pump price reaches 160p a litre, while diesel is up 14.5p to 179p and forecast to go to 185p soonBusiness live – latest updatesThe price of petrol has hit a new Iran War high at UK forecourts, adding to the financial pressure on millions of households about to embark on their annual holiday.The RAC said that in “very unwelcome news for drivers” the average pump price had reached 160p a litre, reversing the drop down to 151p in early July that followed the announcement of a fragile Middle East ceasefire. Continue reading...

Price of an average home now £277,542, up from £277,484 the previous month but lower than in May, says NationwideBusiness live – latest updatesEconomic uncertainty dampened UK house price growth in July as prospective house buyers remained cautious about interest rates during the US war with Iran in what should be peak housebuying season.House prices rose by just 0.1% in July from a month earlier, according to the lender Nationwide, while annual price growth slowed to 1.8% this month, down from 2.2% in June. Continue reading...

• Tensions between the United States and Iran have escalated into a dangerous new phase following a series of mutual military strikes over the past 24 hours. • Iran has vowed that the U.S. "will pay the price" after a specific strike occurred in Qeshm, undoing several days of relative calm. • The escalation is fueled by faltering diplomacy and the increasing involvement of other regional powers, raising significant fears of a wider Middle East war.

Environmental groups renew calls for windfall tax to support households following Q2 earnings rise to $9.84bn Shell more than doubled its profit in its second quarter of the year, as Europe’s biggest oil and gas company reaped the benefits from the jump in oil and gas prices triggered by war in the Middle East.The FTSE 100 company’s net profit hit $9.84bn (£7.4bn) in the three months ended in June, more than double compared with the same period last year. Continue reading...

• South Korea's Kospi share index plummeted 6% on Wednesday due to prolonged selling of chipmaking stocks, while Taiwan's Taiex also dropped 3.8%. • Other Asian markets showed mixed results, with Hong Kong's Hang Seng gaining 1.8% to 25,762.80 and the Shanghai Composite rising 0.4% to close at 3,830.02. • The market volatility coincided with a surge in oil prices, which jumped more than 3% early in the day.

• The Federal Reserve decided to keep its key benchmark interest rate unchanged at approximately 3.6% during its meeting on Wednesday. • The rate-setting committee reached this 9-3 decision following two days of deliberations, marking the fifth consecutive meeting without a rate change. • This decision comes despite ongoing challenges with persistently high inflation and a surge in energy prices triggered by the Iran war.

• FIFA President Gianni Infantino has cultivated a close relationship with Donald Trump and the White House during his decade-long leadership of the Swiss-based nonprofit. • These ties may become a political liability if Democrats flip control of the U.S. House of Representatives in the upcoming fall elections. • The House Judiciary Committee's top Democrat intends to use a potential majority to investigate FIFA's Washington political machinations and its "opaque and exploitative" ticket-pricing policies.

• Global stock markets showed mixed performance, highlighted by a significant 6% drop in South Korea's Kospi index due to a sell-off in chipmaking shares. • Other Asian markets were volatile, with Taiwan’s Taiex falling 3.8%, while Hong Kong's Hang Seng rose 2% to 25,807.92 and the Shanghai Composite gained 0.4% to close at 3,830.02. • The market instability coincides with a surge in oil prices, adding pressure to global economic sentiment.

• South Korea's Kospi share index plummeted approximately 7% due to prolonged selling of chipmaking stocks, while other Asian markets showed mixed results. • Other regional declines included Taiwan’s Taiex, which shed 3.8%, and the Shanghai Composite index, which fell 0.5% to 3,793.11. • Conversely, Hong Kong's Hang Seng index rose 1.7% to 25,738.42 and Australia's S&P/ASX 200 increased by 1% to 9,036.90.

• U.S. stock markets showed mixed results today, with the Dow Jones Industrial Average rising while the Nasdaq slipped due to a decline in chip stocks led by Nvidia. • Oil prices plummeted as investors prepare for a critical week featuring a Federal Reserve interest rate decision and a wave of Big Tech earnings reports. • The Federal Reserve is expected to keep rates steady to monitor inflation, though the possibility of a rate hike remains an unexpected variable.