Samsung's AI problem

SK Hynix makes its Nasdaq debut

SK Hynix hits the Nasdaq today, but can it close the valuation gap with Micron? Also, Japan's Finance Ministry tells its $1.81 trillion pension fund to stop sending money abroad, rattling the yen and Japanese bonds. And Wall Street braces for a brutal Tuesday, with five of the six biggest U.S. banks reporting on the same day. Today’s recommended read: From curiosity to cornerstone - how batteries went mainstream [https://www.reuters.com/commentary/reuters-open-interest/curiosity-cornerstone-how-batteries-went-mainstream-2026-07-10/], Gavin Maguire Subscribe to Mike Dolan's Morning Bid newsletter, [https://www.reuters.com/newsletters/morning-bid-us/] and check out his columns on Reuters Open Interest [https://www.reuters.com/commentary/reuters-open-interest/]. Read more from Amanda Cooper [https://www.reuters.com/authors/amanda-cooper/] and Anna Szymanski [https://www.reuters.com/authors/anna-szymanski/] Produced by Eliza Davis Beard and Abisoye Adelusi Sound engineering and music by Sebastian and Josh Sommer Visit the Thomson Reuters Privacy Statement [https://www.thomsonreuters.com/en/privacy-statement.html] for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices [https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fmegaphone.spotify.com%2Fabout-advertisements&data=05%7C02%7CGayle.Issa%40thomsonreuters.com%7Cdeedd17f603f4b360c6d08dd887d4c6f%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C638816793925865321%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=wKzcMqK1Jgd8UvIvqngaWQBitV9DjLnzqGz8cs1suDw%3D&reserved=0] to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]

Oil's three-day surge

Oil prices jump after President Trump says the U.S. memorandum of understanding with Iran is "over," while chip stocks see a brief Asia-session rally that quickly fades. And the June Fed minutes signal a divided central bank that's in no rush to act on inflation. Today’s recommended read: Forget TACO. Trump's best Mexican food acronym is TAMALES [https://www.reuters.com/commentary/reuters-open-interest/forget-taco-trumps-best-mexican-food-acronym-is-tamales-2026-07-09/], Clyde Russell Subscribe to Mike Dolan's Morning Bid newsletter, [https://www.reuters.com/newsletters/morning-bid-us/] and check out his columns on Reuters Open Interest [https://www.reuters.com/commentary/reuters-open-interest/]. Read more from Amanda Cooper [https://www.reuters.com/authors/amanda-cooper/] and Anna Szymanski [https://www.reuters.com/authors/anna-szymanski/] Produced by Eliza Davis Beard and Abisoye Adelusi Sound engineering and music by Sebastian and Josh Sommer Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]

Oil spikes, chips slide

Oil jumps after President Donald Trump says the U.S. ceasefire with Iran is over after the two sides traded attacks overnight. Chip stocks slide as China reportedly considers limiting foreign access to its top AI models and DeepSeek pursues its own chip. And FOMC minutes due later in the day arrive against a backdrop of higher bond yields. Today’s recommended read: Oil refiners' Hormuz windfall may prove short-lived [https://www.reuters.com/commentary/reuters-open-interest/oil-refiners-hormuz-windfall-may-prove-short-lived-2026-07-08/], Ron Bousso Subscribe to Mike Dolan's Morning Bid newsletter, [https://www.reuters.com/newsletters/morning-bid-us/] and check out his columns on Reuters Open Interest [https://www.reuters.com/commentary/reuters-open-interest/]. Read more from Amanda Cooper [https://www.reuters.com/authors/amanda-cooper/] and Anna Szymanski [https://www.reuters.com/authors/anna-szymanski/] Produced by Eliza Davis Beard and Abisoye Adelusi Sound engineering and music by Sebastian and Josh Sommer Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]

Samsung's AI problem

Samsung posted a 19-fold jump in quarterly revenue overnight, but shares fell 10% as investors weigh whether the AI trade is shifting from scarcity to abundance. U.S. services activity cooled slightly but remained in expansion territory. And U.S. President Donald Trump travels to Ankara for a NATO summit, where European defense spending pledges and the U.S. troop presence in Europe are expected to be in focus. Today’s recommended read: OPEC is likely loser in Gulf’s post-war race for market share [https://www.reuters.com/commentary/reuters-open-interest/opec-is-likely-loser-gulfs-post-war-race-market-share-2026-07-07/], Ron Bousso Subscribe to Mike Dolan's Morning Bid newsletter, [https://www.reuters.com/newsletters/morning-bid-us/] and check out his columns on Reuters Open Interest [https://www.reuters.com/commentary/reuters-open-interest/]. Read more from Amanda Cooper [https://www.reuters.com/authors/amanda-cooper/] and Anna Szymanski [https://www.reuters.com/authors/anna-szymanski/] Produced by Eliza Davis Beard and Abisoye Adelusi Sound engineering and music by Sebastian and Josh Sommer Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]

Glut feeling

OPEC+ approves another production quota increase of 188,000 barrels per day, adding to market bets on a supply glut. Chip stocks are also in focus, with Samsung set to report blockbuster earnings and SK Hynix launching its Nasdaq listing. And the NATO summit puts Ukraine back in the spotlight. Today’s recommended read: OPEC+ to boost crude output, but can it deliver and who will buy?, [https://www.reuters.com/commentary/reuters-open-interest/opec-boost-crude-output-can-it-deliver-who-will-buy-2026-07-06/] Clyde Russell Subscribe to Mike Dolan's Morning Bid newsletter, [https://www.reuters.com/newsletters/morning-bid-us/] and check out his columns on Reuters Open Interest [https://www.reuters.com/commentary/reuters-open-interest/] Read more from Amanda Cooper [https://www.reuters.com/authors/amanda-cooper/] and Anna Szymanski [https://www.reuters.com/authors/anna-szymanski/] Produced by Eliza Davis Beard and Abisoye Adelusi Sound engineering and music by Sebastian and Josh Sommer Visit the Thomson Reuters Privacy Statement [https://www.thomsonreuters.com/en/privacy-statement.html] for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices [https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fmegaphone.spotify.com%2Fabout-advertisements&data=05%7C02%7CGayle.Issa%40thomsonreuters.com%7Cdeedd17f603f4b360c6d08dd887d4c6f%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C638816793925865321%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=wKzcMqK1Jgd8UvIvqngaWQBitV9DjLnzqGz8cs1suDw%3D&reserved=0] to opt out of targeted advertising. Our Standards: The Thomson Reuters Trust Principles. [https://www.thomsonreuters.com/en/about-us/trust-principles.html] Learn more about your ad choices. Visit megaphone.fm/adchoices [https://megaphone.fm/adchoices]