• SK Hynix tumbles after gain: Korean chip giant SK Hynix (SKHY) popped 13% in its IPO on Friday but fell 8.5% premarket as investors questioned whether its earnings can sustain current valuations. Korean shares (KRX:000660) experienced their largest single-day plunge of 15.4%. Source: CNBC.
• TSMC sales surge: Taiwan Semiconductor (TSM) reported a 36% jump in quarterly revenue to $39.6B, meeting estimates and reinforcing strong AI chip demand despite investor concerns over elevated valuations. Source: Bloomberg.
• Apple vs. OpenAI: Apple (AAPL) sued OpenAI, alleging that the AI giant stole trade secrets through former employees to develop upcoming hardware. The lawsuit adds legal risk to OpenAI's device plans and potential IPO. Sources: CNN / WSJ.
• Meta sees best week since 2024: Meta (META) gained 15% WoW for its strongest showing in 2 years, popping 6% on Friday alone. The news comes as the tech giant removed its brand-new AI image generator on Instagram following backlash over privacy concerns and increased its Louisiana AI data center investment to more than $50B. Sources: CNBC / NY Times / Reuters.
• Goldman wins retirement mandates: Goldman Sachs (GS) secured $70B in retirement asset management mandates from Verizon (VZ) and Lockheed Martin (LMT), expanding its outsourced CIO business. Goldman is up 20% YTD. Source: CNBC.
• MGM weighs takeover: MGM Resorts (MGM) is negotiating with Barry Diller's People Inc. (PPLI) after Diller's $12.4B buyout offer, though MGM believes the bid is too low. MGM rose 2% premarket. Source: WSJ.
• Stellantis shipments rise: Stellantis (STLA) reported a 10% increase in Q2 vehicle shipments to nearly 1.6M units, driven by a 38% jump in North America. The launch of new models was a large factor, with shares gaining 1% premarket. Source: Reuters.
• NYT countersues feds: The New York Times (NYT) countersued the Equal Employment Opportunity Commission, alleging that the agency retaliated over its reporting by pursuing a politically motivated discrimination lawsuit. The news comes as the DOJ subpoenaed Times reporters over an Air Force One story. Sources: CNN / BBC / NY Times.
• Helsing secures funding: European defense startup Helsing raised $1.8B at an $18B valuation, highlighting strong investor demand for AI-driven military tech. Source: CNBC.

Everyone’s chasing the next AI trade. Meanwhile, a quiet corner of the market keeps delivering — film bridge lending.

Studios sit on millions in approved tax credits, signed distribution contracts, and completion bonds they can’t access yet.

Bridge lenders step in, fill the gap, and get repaid when the credit clears or the deal closes.

These are not complicated structured products. They’re simple, short-duration asset-backed loans (12-16 weeks) lent to productions that are already greenlit. The kind of boring that quietly works.

If you’re an accredited investor looking for yield that doesn’t move with the S&P, this is worth your attention.

• Indian inflation rises: India's inflation climbed to 4.38% YoY in June, exceeding forecasts as higher food and fuel prices lifted costs. Source: CNBC.

• Hormuz status unclear amid weekend attacks: The U.S. and Iran exchanged new strikes as Tehran targeted U.S. allies and claimed to close the Strait of Hormuz, raising risks to global energy supplies. The U.S. claimed the waterway remains open to shipping. Sources: NPR / Bloomberg.
• Oil ticks up: Oil rose 2% to over $77 per barrel — 7% above the prewar price — amid the renewed strikes. Source: NY Times.
• Russia halts diesel exports: Russia banned all diesel exports to boost domestic fuel supplies after Ukrainian drone attacks disrupted refineries. The move could tighten global diesel markets. Source: CNN.
• Gas pipeline approved: Chesapeake Utilities (CPK) plans to build and operate a $1.2B natural gas pipeline in Florida. Shares gained 4.4% premarket. Source: Reuters.
• Oil spill settlement: Keystone Pipeline operator South Bow (SOBO) agreed to pay a $26.9M civil penalty and spend about $40M on safety upgrades to settle U.S. and Kansas claims over its 2022 oil spill. Shares are up 31% YTD. Source: AP.

• Bangkok bar fire kills 27: At least 27 people died and more than 60 were injured after a fast-moving fire tore through a Bangkok bar. Authorities are investigating possible safety violations. Source: NY Times.
• Europe weighs youth social media ban: The E.U. is considering legislation to impose age-based social media restrictions and require platforms to prove their services are safe for minors. Source: The Verge.
• Gibraltar opens border: Gibraltar is removing its 118-year-old border controls with Spain under a post-Brexit U.K.-E.U. deal, easing cross-border travel and trade while aligning the territory with the E.U.'s customs union. Source: BBC.
• Plane window fails midflight: A Ryanair-operated (RYAAY) flight from Greece to Germany made an emergency landing after a cabin window dislodged on the Boeing (BA) aircraft, causing decompression. One passenger was partially pulled through the broken window but survived. Source: NY Times.

• Housing bill becomes law: Due to a Constitution-imposed deadline, a bipartisan housing affordability bill became law after President Trump neither signed nor vetoed it. His refusal to sign was in protest of the Senate failing to take up a strict voter-ID law. Source: CBS.
• Union leader in hot water: The Justice Department is investigating allegations that UAW President Shawn Fain improperly sought financial benefits for his fiancée. Source: WSJ.
• SEC tightens activist disclosures: The SEC said activist investors must disclose the identities of clients backing campaigns in certain regulatory filings, increasing transparency requirements for hedge funds and activist investing structures. Source: Reuters.
• GOP heavyweight dies: Sen. Lindsey Graham of South Carolina, a longtime Republican foreign-policy hawk and close Trump ally, died at 71 after a sudden illness. He had just returned from a trip to Ukraine and was running for reelection. Source: WSJ.

• 2:00 PM: Monthly Budget Statement
• Tuesday: Core Inflation Rate MoM & YoY, Inflation Rate MoM & YoY, Fed Chair Warsh Testimony
• Wednesday: PPI MoM, Fed Chair Warsh Testimony
• Thursday: Retail Sales MoM
• Friday: Building Permits Prelim., Housing Starts, Michigan Consumer Sentiment Prelim.

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

JPMorgan Chase (JPM) will report tomorrow before market open.

• Analysts estimate revenue of $49.39B (+8.13% YoY).
• EPS is estimated to be $5.59 (+12.70% YoY).
• Financials · As Reported · Metrics

Fastenal Company (FAST) will report tomorrow before market open.

• Analysts estimate revenue of $2.33B (+12.24% YoY).
• EPS is estimated to be $0.33 (+13.79% YoY).
• Financials · As Reported · Metrics

Bank of America (BAC) will report tomorrow before market open.

• Analysts estimate revenue of $30.32B (+14.59% YoY).
• EPS is estimated to be $1.11 (+24.72% YoY).
• Financials · As Reported · Metrics

Elevance Health (ELV) will report Wednesday.

• Analysts estimate revenue of $48.59B (-1.68% YoY).
• EPS is estimated to be $6.20 (-29.86% YoY).
• Financials · As Reported · Metrics

Cintas (CTAS) will report Wednesday.

• Analysts estimate revenue of $2.87B (+7.77% YoY).
• EPS is estimated to be $1.23 (+12.84% YoY).
• Financials · As Reported · Metrics

Kinder Morgan (KMI) will report Wednesday.

• Analysts estimate revenue of $4.24B (+4.87% YoY).
• EPS is estimated to be $0.31 (+10.71% YoY).
• Financials · As Reported · Metrics

ASML Holding (ASML) will report Wednesday.

• Analysts estimate revenue of $10.28B (+17.87% YoY).
• EPS is estimated to be $7.98 (+19.28% YoY).
• Financials · As Reported · Metrics

Johnson & Johnson (JNJ) will report Wednesday.

• Analysts estimate revenue of $25.05B (+5.50% YoY).
• EPS is estimated to be $2.85 (+2.89% YoY).
• Financials · As Reported · Metrics

United Airlines Holdings (UAL) will report Wednesday.

• Analysts estimate revenue of $17.58B (+15.40% YoY).
• EPS is estimated to be $1.81 (-53.23% YoY).
• Financials · As Reported · Metrics

TSMC (TSM) will report Thursday.

• Analysts estimate revenue of $39.76B (+32.22% YoY).
• EPS is estimated to be $3.77 (+52.63% YoY).
• Financials · As Reported · Metrics

U.S. Bancorp (USB) will report Thursday.

• Analysts estimate revenue of $7.59B (+8.86% YoY).
• EPS is estimated to be $1.27 (+14.41% YoY).
• Financials · As Reported · Metrics

State Street (STT) will report Thursday.

• Analysts estimate revenue of $3.83B (+11.06% YoY).
• EPS is estimated to be $3.24 (+28.06% YoY).
• Financials · As Reported · Metrics

The Travelers Companies (TRV) will report Friday.

• Analysts estimate revenue of $11.23B (-7.32% YoY).
• EPS is estimated to be $4.94 (-24.12% YoY).
• Financials · As Reported · Metrics

Truist Financial (TFC) will report Friday.

• Analysts estimate revenue of $5.23B (+3.96% YoY).
• EPS is estimated to be $1.08 (+18.68% YoY).
• Financials · As Reported · Metrics

Fifth Third Bancorp (FITB) will report Friday.

• Analysts estimate revenue of $3.25B (+44.62% YoY).
• EPS is estimated to be $0.88 (-2.22% YoY).
• Financials · As Reported · Metrics

• Estimated Wednesday, July 15: Tarsier Pharma Ltd. (TARX), a pharmaceutical company focused on diseases that cause blindness.
• Estimated Thursday, July 16: Csquare, Inc. (CSQR), a data center provider with $1.02B in TTM revenue and 8.8% revenue growth YoY.
• Estimated Thursday, July 16: Standard Nuclear, Inc. (STDN), a nuclear fuel firm with 3.36M in TTM revenue.