• EasyJet accepts higher bid: EasyJet (LON:EZJ) accepted, in principle, a raised $7B takeover offer from Castlelake. The offer is valued at 690 pence a share, a 24% premium to Friday's close. The board extended the deadline for a firm offer, sending shares up about 10%. Source: WSJ.
• Sky acquires ITV business: Comcast (CMCSA) subsidiary Sky agreed to acquire ITV's media and entertainment business for up to £1.6B, combining broadcast and streaming operations. ITV will spin off ITV Studios and return about £950M to shareholders. Source: BBC.
• SpaceX joins the Nasdaq-100: SpaceX (SPCX) will join the Nasdaq-100 on Tuesday, prompting index funds tracking the benchmark to buy its shares. Despite its roughly $2.1T valuation, SpaceX's initial weighting will be under 1% because of its limited public float. Source: WSJ.
• Ford's Q2 sales & quality gains: Ford (F) reported a 10.3% drop in Q2 U.S. vehicle sales as F-Series deliveries fell 11% and EV sales declined 40.7%. The company expects F-Series supply to recover in H2. In other news, Ford earned J.D. Power's top U.S. mass-market initial quality ranking. CEO Jim Farley said the turnaround should reduce recalls and warranty costs after years of quality issues. Sources: CNBC / CNBC.
• EV deliveries & forecasts: Rivian (RIVN) raised its 2026 delivery forecast to 65,000–70,000 vehicles after Q2 deliveries topped expectations. Lucid (LCID) missed delivery estimates and announced a management shake-up, while Tesla (TSLA) exceeded delivery forecasts. Source: CNBC.
• India orders Meta action: India ordered Meta (META) to remove Instagram ads and content promoting child sexual abuse material and demanded an explanation after an investigation found paid ads linking users to Telegram channels selling such content. Source: BBC.
• Versant acquires Full Swing: Versant Media Group (VSNT) agreed to acquire golf simulator maker Full Swing for about $530M in cash, expanding its golf technology portfolio. Source: CNBC.
• Lockheed Martin leads Ultra bid: Lockheed Martin (LMT) is reportedly leading the race to acquire naval defense firm Ultra Maritime for about $3.5B. Source: CNBC.
• SK Hynix launches U.S. listing: SK Hynix (SKHY) launched a $28B Nasdaq ADR offering to fund chip expansion and broaden its investor base, as strong AI-driven memory demand continues. Source: Reuters.
• Jersey Mike's files for IPO: Jersey Mike's (JMKE) filed for an IPO after reporting 2025 net income of $55M on $724M in revenue. The sandwich chain posted 50% cumulative same-store sales growth since 2020 and operates nearly 3,300 locations. Source: CNBC.
• Boeing expands 737 production: Boeing (BA) is beginning operations at a 4th 737 MAX assembly line to support production increases as it works to meet strong demand and recover from setbacks. Source: Reuters.
• Sun Valley conference begins: The Allen & Co. Sun Valley conference is beginning today, bringing top leaders from technology, media, finance, and entertainment together for private meetings that have historically preceded major deals. Source: Forbes.
• Pershing Square dividend: Pershing Square (PS) announced its first quarterly cash dividend since its IPO, declaring a $0.122 per-share payout payable on July 21 to shareholders of record on July 13. Source: WSJ.

• OPEC+ raises output targets: Oil prices fell after OPEC+ agreed to raise August output targets by 188,000 barrels per day. Recovering Strait of Hormuz exports and rising Gulf supply added to expectations of a weaker oil market. Source: Reuters.

• Ukraine warns of interceptor shortage: A Russian attack killed at least 18 people in the Kyiv region after Ukraine said a shortage of Patriot interceptor missiles left all 23 ballistic missiles unchallenged. President Zelensky urged NATO allies to bolster air defenses. Sources: BBC / AP.
• Khamenei funeral fills Tehran: Hundreds of thousands of people gathered in Tehran for Ayatollah Ali Khamenei’s funeral, a state-backed display of unity after his killing in U.S.-Israeli strikes. Successor Mojtaba Khamenei remained absent. Source: NY Times.
• NATO summit this week: President Trump is attending the NATO summit this week, where he is set to meet Ukrainian President Zelensky as allies press for renewed Ukraine support while the U.S. pushes members to raise defense spending. NATO members are increasing defense spending ahead of the summit, but uneven progress and fiscal pressures in major economies raise doubts about meeting long-term targets despite stronger commitments. Sources: Bloomberg / Reuters.
• France wildfire forces evacuations: A wildfire near France’s border with Spain has forced more than 10,000 evacuations and burned 4,600 hectares. EU firefighting aircraft are assisting as strong winds threaten to worsen the blaze. Source: Reuters.
• Trump intervenes in FIFA ban: President Trump and White House officials reportedly pressed FIFA to overturn U.S. striker Folarin Balogun's World Cup suspension. FIFA rescinded the ban under a discretionary rule, drawing criticism over political interference. Source: WSJ.

• 10:00 AM: ISM Services PMI
• Wednesday: FOMC Minutes
• Thursday: Existing Home Sales

• There are no major recent earnings to report today, but you can check the earnings calendar for a complete list.

Albertsons Companies (ACI) will report tomorrow before market open.

• Analysts estimate revenue of $24.84B (-0.16% YoY).
• EPS is estimated to be $0.54 (-1.82% YoY).
• Financials · As Reported · Metrics

Penguin Solutions (PENG) will report tomorrow after market close.

• Analysts estimate revenue of $424.09M (+30.79% YoY).
• EPS is estimated to be $0.55 (+17.02% YoY).
• Financials · As Reported · Metrics

PepsiCo (PEP) will report Thursday.

• Analysts estimate revenue of $23.94B (+5.34% YoY).
• EPS is estimated to be $2.21 (+4.25% YoY).
• Financials · As Reported · Metrics

Delta Air Lines (DAL) will report Friday.

• Analysts estimate revenue of $18.57B (+11.55% YoY).
• EPS is estimated to be $1.47 (-30.00% YoY).
• Financials · As Reported · Metrics

• Estimated Thursday, July 9: Tarsier Pharma Ltd. (TARX), a late clinical-stage biopharma firm focused on eye conditions.
• Estimated Friday, July 10: SK hynix Inc. (SKHY), a large South Korean memory semiconductor company with $86.70B in TTM revenue and 46.76% revenue growth YoY.