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Duke Energy Ups Quarterly Dividend to $1.085 a Share From $1.065, Payable Sept. 16 to Shareholders of Record Aug. 14

Daily Roundup of Key US Economic Data for July 14

The consumer price index fell by 0.4% in June and was flat excluding food and energy prices, both below expectations.The decline lowered the year-over-year increase to 3.5% from 4.2% in May, while the core measure was up 2.6% year-over-year after a 2.9% rate in the previous month.Food prices rose by 0.2%, while energy prices plunged by 5.7%. Gasoline prices alone were down 9.7%.Owners' equivalent rents rose by 0.2% and regular rents were up 0.1%, accounting for about one-third of the overall index.Prices of new vehicles were flat after a 0.3% drop in the previous month and used vehicle prices fell by 0.2% after a 0.1% gain.The National Federation of Independent Business' monthly sentiment index rose to 97.4 in June from 95.3 in May, with gains in seven of the 10 components, particularly the economic outlook."Current economic conditions present small business owners with both encouraging developments and ongoing challenges," said NFIB Chief Economist Bill Dunkelberg. "Lower fuel costs provide welcome relief for businesses as well as consumers, with firms anticipating improved operating conditions over the next six months."However, elevated interest rates and "modest economic growth" has made owners more cautious in their hiring and spending decisions, Dunkelberg added.Redbook reported that US same-store retail sales were up 8.2% year-over-year in the week ended July 11, slower than an 11.5% gain in the prior week due as sales were mostly driven by discounts and promotions.

Wire27d ago

Inventus Mining Recovers 564 Ounces of Gold From Trench 1 Bulk Sample at Pardo Project

Inventus Mining (IVS.V) on Tuesday said it recovered 564 ounces of gold from the Trench 1 bulk sample at its Pardo "River of Gold" Project in Sudbury, Ontario.The Trench 1 bulk sample, totaling 9,842 dry tonnes, was completed in two processing campaigns, the company added.Inventus recorded total gold sales of C$3.5 million, exceeding direct bulk sample costs by 53%.The company has now extracted and processed 20,480 tonnes through its bulk sampling programs, recovering 1,549 ounces of gold.Inventus shares were last seen down C$0.005 to C$0.235 on the TSX Venture Exchange.Price: $0.24, Change: $-0.01, Percent Change: -2.08%

$IVS.V

Mining & Metals27d ago

MAX Power Mining Starts Commercial Validation Phase at Lawson Complex

MAX Power Mining (MAXX.CN) on Tuesday said it began the commercial validation phase at the Lawson Complex in Saskatchewan.Lawson Complex hosts "Canada's first subsurface Natural Hydrogen system" discovered late last year, the company said.The first well, "Lawson 2-24", was spudded on July 13 and is targeting the apex of a large structural closure identified through a 3D seismic survey completed this past spring, said the company.The drill rig is expected to reach the main targeted discovery area for Lawson 2-24 in around two weeks."Within the structural closure, featuring an aerial extent of approximately 14 sq. km, we have very significant scale potential," said Chief Executive Officer Ran Narayanasamy. "More broadly speaking, Lawson is the template for similar potential Natural Hydrogen discoveries along the entire length of the 475-km Genesis Trend bordering the Prairie Evaporite. Saskatchewan has the right geological mix and the demand drivers to become the global birthplace for commercialization of Natural Hydrogen."Shares of the company were last seen up C$0.04 to C$2.05 on the Canadian Securities Exchange.

$MAXX.CN

Wire27d ago

W.W. Grainger Shares Drop After Downgrade From Stephens

W.W. Grainger (GWW) shares were down 1.6% in afternoon trading on Tuesday after Stephens downgraded the company's stock to equalweight from overweight.Trading volume stood at over 149,000 shares against a daily average of around 301,000.Price: $1370.12, Change: $-21.57, Percent Change: -1.55%

$GWW

Wire27d ago

Yum! Brands' Taco Bell Reportedly Pulls Lettuce, Cilantro at Some Michigan Locations Amid Parasite Probe

Yum! Brands' (YUM) Taco Bell has stopped serving lettuce and cilantro at some restaurants in the Detroit metro area amid a growing cyclosporiasis outbreak in Michigan, multiple news outlets reported Tuesday.Neither Taco Bell nor government health officials have publicly linked the chain's produce to the outbreak, which has infected 3,309 people in Michigan as of Tuesday, with at least 44 hospitalizations, the Detroit Free Press reported.The Michigan Department of Health and Human Services said Monday that lettuce and other salad greens have emerged as a common products in the investigation, though no specific product, grower or supplier has been identified as the source, the Free Press reported.Taco Bell did not immediately respond to a request for comment from.Price: $157.22, Change: $-4.46, Percent Change: -2.76%

$YUM

Commodities27d ago

US Natural Gas Update: Futures Hit 2-Month Low as Production Strength, Mild Weather Weigh on Prices

US natural gas futures prices hit a two-month low in midday trade on Tuesday on robust production and weakening demand before paring losses by midday.The front-month Henry Hub contract and the continuous contract each declined 0.17% to $2.89 per million British thermal units.In earlier trade, the August Henry Hub price hit what Trading Economics said was a two-month low of $2.85/MMBtu before trading back up to nearer the previous close.NRG Energy said weather forecasts continued to point to moderate temperatures across major demand regions, limiting near-term consumption growth and weighing on prices.US natural gas demand was projected to increase only modestly on Tuesday, with total demand expected to rise by 0.6 billion cubic feet per day, NRG said.The power sector was expected to drive the increase, with demand forecast to rise by 0.4 Bcf/d to 49.2 Bcf/d on what is forecast to be a short-lived bout of hot weather in the eastern US.Residential and commercial demand was projected to increase by 0.3 Bcf/d, while industrial demand was expected to remain unchanged at 21.8 Bcf/d, according to NRG.LNG export feedgas demand was forecast to edge down 0.1 Bcf/d to 16.9 Bcf/d, NRG said. Trading Economics attributed the decline in flows to maintenance at the Freeport LNG plant, which is expected to be completed late next month.NRG said US natural gas production had fallen below 108 Bcf/d after reaching 108.5 Bcf/d over the weekend.Lower 48 output averaged a robust 110.2 Bcf/d so far in July, up slightly from 110.0 Bcf/d in June, Trading Economics said.Market estimates indicated that US gas inventories were expected to remain about 6.6% above the five-year average for the week ended July 10, reflecting comfortable supply levels, Trading Economics said.

Wire27d ago

Lucid Group Shares Fall Tuesday

Lucid Group (LCID) shares fell past 45% on Tuesday after EV reported that restructuring adviser AlixPartners is evaluating strategic options including taking the electric vehicle maker private or filing for Chapter 11 bankruptcy protection.The news publication, citing two people familiar with the matter, reported that AlixPartners has been asked to present its findings to Lucid's board before its next meeting.Lucid and AlixPartners did not immediately respond to' request for comment.Price: $2.99, Change: $-2.52, Percent Change: -45.74%

$LCID

US Markets27d ago

Equity Markets Mostly Rise Intraday After Inflation Data, Bank Earnings

US benchmark equity indexes were mostly higher intraday as traders assessed the latest inflation data and quarterly results of banking giants.The Nasdaq Composite was up 1.1% at 26,150.9 after midday Tuesday, while the S&P 500 rose 0.5% to 7,551.2. The Dow Jones Industrial Average fell 0.1% to 52,469.6. Among sectors, technology paced the gainers, while healthcare saw the biggest drop.The US consumer price index declined 0.4% in June, its first monthly drop since May 2020 and the largest decline since April 2020, amid lower energy costs, official data showed. The consensus in a Bloomberg-compiled survey was for the index to move down by 0.1%.Annually, inflation cooled to 3.5% last month from May's 4.2%, compared with expectations for a 3.8% print."Investors and the Federal Reserve will breathe a sigh of relief at the size of the improvement in the inflation numbers last month, likely keeping an imminent rate hike off the table later this month," BMO said in a note.There's now an 83% likelihood that the Fed will keep its monetary policy unchanged at its July meeting, up from 58% Monday, according to the CME FedWatch tool. The odds of a 25-basis-point rate increase slid to 17% from 42%.US Treasury yields were lower intraday, with the two-year rate down 5.1 basis points at 4.21% and the 10-year rate falling 2.5 basis points to 4.59%.In corporate news, Goldman Sachs (GS), JPMorgan Chase (JPM), Wells Fargo (WFC), Bank of America (BAC) and Citigroup (C) all posted strong second-quarter results Tuesday.Goldman shares were up 7.7% intraday, the best performer on the Dow and the second-top gainer on the S&P 500. JPMorgan and Bank of America were also higher, while Citigroup and Wells Fargo fell.IBM (IBM) shares slumped 25%, the worst performer on the S&P 500 and the Dow. The computer and software company's preliminary second-quarter results fell short of Wall Street's expectations, with Chief Executive Arvind Krishna calling the performance "disappointing."West Texas Intermediate crude oil was up 1% at $78.88 a barrel, while Brent rose 1.5% to $84.54.US President Donald Trump said Tuesday he would no longer demand a 20% "reimbursement fee" from ships passing through the Strait of Hormuz. In a social media post, Trump said he has "decided to replace" the fee with "trade and investment deals" with Gulf countries.Amid renewed tensions in the Middle East, Trump also said a "full blockade" will be enforced on all ships coming to and from Iranian ports, while the strait remains open.Fed Chair Kevin Warsh vowed to curb high inflation straining American consumers and companies, affirming the central bank's commitment to restore price stability.Monetary policymakers "have no tolerance for persistently elevated inflation," Warsh said while speaking before a US House of Representatives committee. "If we get policy right -- and we will -- the inflation surge of the last five years will be a thing of the past."Gold was up 1.4% at $4,062.20 per troy ounce, while silver gained 1.7% to $58.96 per ounce.

Dow JonesNasdaq CompositeS&P 500$BAC$C$GS$IBM$JPM$WFC

Commodities27d ago

Energy Stocks Remain Undervalued Despite Long-Term Oil, Gas Outlook, UBS Says

UBS maintained a positive long-term outlook for crude oil and natural gas, saying energy stocks remain undervalued despite improving commodity fundamentals, the firm said in a note on Monday.UBS continues to expect stronger 2027 crude oil and natural gas prices than implied by current forward strips of $71 per barrel for West Texas Intermediate and $3.35 per million British thermal units for Henry Hub.The firm assessed producers across scenarios ranging from $55-$65/bbl Brent, $51-$81/bbl WTI and $2.75-$4.25/MMBtu Henry Hub.Using an 8% free cash flow-to-enterprise value yield and a 5.5x enterprise value-to-EBITDA sector midpoint, UBS estimates exploration and production stocks currently reflect $60 WTI and $3.50 Henry Hub for 2027.Under a $75 Brent and $3.75 Henry Hub scenario, oil producers would generate an average 12.2% free cash flow-to-enterprise value yields and trade at 3.9x enterprise value-to-EBITDA.Gas producers, excluding Comstock Resources (CRK), would generate an average 11.5% free cash flow-to-enterprise value yield and trade at 4.6x enterprise value-to-EBITDA, UBS said.The same commodity deck would leave year-end 2027 net debt-to-EBITDA at about 0.2x to 0.3x if companies maintain current capital return programs.UBS said those valuations remain below the historical 4.5x to 6.5x range, implying more than 20% upside to the 5.5x midpoint.A $10/bbl move in crude oil and a $0.50/MMBtu change in Henry Hub prices would shift average free cash flow-to-enterprise value yields by 450 to 480 basis points.Enterprise value-to-EBITDA multiples could move 0.5x to 0.7x or more, particularly for gas producers, UBS said.UBS kept capital spending and production assumptions unchanged, although WTI prices below $60/bbl and Henry Hub prices below $3/MMBtu would likely prompt exploration and production companies to reduce both investment and output.Since the conflict began, the S&P 500 Energy Index has gained 1.3% but has trailed the broader S&P 500 by 8%. During the same period, front-month WTI has risen 16%, the 2027 WTI forward strip has gained 15%, while the 2027 Henry Hub strip has fallen 10.3%, UBS said.UBS said energy-sector valuations have weakened since the conflict began despite stronger long-term oil prices, with APA (APA) and Chord Energy (CHRD) leading gains, while Comstock Resources, Weatherford International (WFRD) and Gulfport Energy (GPOR) have posted the weakest performance.UBS continues to favor Ovintiv (OVV), Devon Energy (DVN) and Antero Resources (AR) among exploration and production companies, while National Energy Services Reunited remains its top oilfield services pick.Price: $12.87, Change: $-0.37, Percent Change: -2.79%

$APA$AR$CHRD$CRK$DVN$GPOR$OVV$WFRD

Wire27d ago

Verizon Plans Another Round of Job Cuts This Week, Barron's Reports

$VZ

Wire27d ago

Update: Market Chatter: DOJ Expands Antitrust Probe Into Claritev

(Update with the Justice Department's response to a request for comment in the third paragraph.)The US Justice Department recently sent civil investigative demands, which are similar to subpoenas, to lawyers for a group of hospitals and doctor groups suing Claritev (CTEV) for alleged antitrust violations, Bloomberg reported Tuesday, citing people with knowledge of the matter.The lawsuits accuse the healthcare technology firm of conspiring with UnitedHealth Group (UNH), CVS Health's (CVS) Aetna and Cigna Group (CI) and other health insurers to lower reimbursements for out-of-network services, the report said."We decline to comment on any matters before the DOJ, according to longstanding policy," a DOJ spokesperson told. "However, we can affirm that under the Trump Administration this DOJ will continue to prioritize affordability for all Americans across our economy."Claritev didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $26.49, Change: $-3.35, Percent Change: -11.23%

$CI$CTEV$CVS$UNH

Sectors27d ago

Sector Update: Energy Stocks Decline Tuesday Afternoon

Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index falling 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.2%.The Philadelphia Oil Service Sector Index was down 0.3%, and the Dow Jones US Utilities Index decreased 0.2%.President Donald Trump withdrew his proposal to charge a 20% toll on cargo transiting the Strait, according to his social media post on Tuesday. "Based on highly productive conversations with Middle East leadership, I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States." There will be a "FULL Blockade, but only on Ships coming to and from Iranian ports, or carrying anything have to do with Iranian cargo," Trump said on Truth Social.Front-month West Texas Intermediate crude oil rose 1.2% to $79.04 a barrel, and the global benchmark Brent crude contract gained 1.5% to $84.53 a barrel. Henry Hub natural gas futures decreased 0.1% to $2.89 per 1 million BTU.In corporate news, Shell (SHEL) will receive a production-linked tax credit from Nigeria for its Bonga Southwest Aparo deepwater project, Bloomberg reported. Shell shares were up 0.3%.Bloom Energy (BE) short sellers have made key mistakes on the company's access to the rare-earth mineral scandium and ignore its recent filings showing it has resolved its sourcing constraints, RBC said in a note to investors on Tuesday. Bloom Energy shares rose 2.7%.American Resources' (AREC) ReElement Technologies unit received a $25 million investment from the US Department of Defense through the Industrial Base Fund to expand domestic rare earth refining capacity at its Marion, Indiana, facility, the company said Tuesday. American Resources shares jumped past 6%.

$AREC$BE$SHEL

Oil & Energy27d ago

EMEA Oil Update: Crude Pulls Back as Trump Abandons 20% Hormuz Toll Fee

EMEA crude futures retreated from earlier highs in after-hours trading on Tuesday after President Trump abandoned a proposal to impose a 20% protection fee on cargo transiting the Strait of Hormuz, as more vessels in the strategic waterway come under Iranian attack.Brent crude futures jumped by 5.7% to $80.31 per barrel, while Murban crude futures advanced by 6.8% to $75.77/bbl.Gelber & Associates strategists said rather than focusing on immediate disruptions in the Hormuz, traders are assessing how sustained restrictions on Iranian crude could tighten export availability over the coming months, particularly for Asian buyers that had relied on discounted barrels.On Tuesday, Trump said that the US has abandoned plans to impose a 20% protection fee on vessels transiting the Hormuz, saying Gulf states would instead increase trade and investment with Washington."Based on highly productive conversations with Middle East leadership, I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States," Trump said in a Truth Social post.Trump's reversal comes a day after he floated the 20% plan, which contradicted his administration's past opposition to tolls in the Strait.The International Maritime Organization, a UN agency, opposes mandatory tolls in the key energy chokepoint as illegal.Iranian Foreign Minister Seyed Abbas Araghchi said on Monday that while Trump was correct in principle that countries responsible for ensuring the safe passage of commercial vessels should receive compensation, Tehran remains the historic guardian of the strategic waterway.Iran fired missiles at Jordan, Bahrain and Kuwait on Tuesday after the US launched an attack on Tehran on Monday at President Trump's direction, stepping up a battle for control of the Hormuz.The security situation in the key has deteriorated over the past week as Iran has attacked commercial ships.Jeff LeBlanc, an analyst at TPH Energy, said that tensions have continued to escalate over the past 48 hours, with the US and Iran continuing to launch sweeping retaliatory strikes on each other.Earlier on Tuesday, the UAE said two of its tankers were struck while transiting the waterway's southern shipping lane. Adnoc Logistics and Services, the shipping arm of Adnoc, said the two oil tankers that were attacked suffered significant damage.LeBlanc said Hormuz traffic was already suppressed on Sunday, and deadly Iranian strikes on two UAE oil tankers will likely bring traffic to an effective standstill, resetting the stalemate.Meanwhile, Russian energy supplies have also been disrupted as Ukraine steps up attacks on Moscow's energy infrastructure.Ukraine's Ministry of Defense said on Tuesday that its forces struck two Russian oil refineries overnight, targeting the Salavat and Afipsky facilities with a combined processing capacity of about 16 million tonnes per year.The attacks also hit a transshipment site near Gelendzhik and 11 vessels in the Sea of Azov, including tankers used to move Russian oil.

Mining & Metals27d ago

Lode Gold Resources to Raise C$7 Million in a Non-Brokered Private Placement

Lode Gold Resources (LOD.V) late on Monday said it launched a non-brokered private placement of share units to raise up to C$7 million.The company said it will place up to 25.9-million units priced at C$0.27 apiece and made up of a share and a three-year warrant to buy a share for C$0.45..Proceeds from the offering will be used to advance technical work at the Fremont Gold Mine in California, strengthen the balance sheet and provide general working capital needs.Shares of the company were last seen down C$0.01, or 3.1% to C$0.31 on the TSX Venture Exchange.Price: $0.31, Change: $-0.01, Percent Change: -3.13%

$LOD.V

Wire27d ago

Lucid Shares Halted for Volatility After Falling 49%, Bloomberg Reports

$LCID

Wire27d ago

Top Midday Gainers

NextCure (NXTC) will merge with privately held Avere Therapeutics in an all-stock transaction to advance Avere's lead oral IL-23 therapy, AVR-001, for inflammatory diseases, the company said.Shares catapulted 200% as intraday trading volume soared to over 101 million from a daily average of about 103,000.Shuttle Pharmaceuticals (SHPH) soared 36% after a regulatory filing showed HRT Financial bought additional shares of the firm.More than 50.1 million shares were traded intraday, compared with a daily average of about 1.1 million.Goldman Sachs' (GS) Q2 results topped analysts' estimates as a record performance in the global banking and markets business propelled revenue growth.Shares jumped 7.6%, with intraday trading volume rising to over 2.3 million from a daily average of about 2.1 million.Price: $1127.05, Change: $+81.14, Percent Change: +7.76%

$GS$NXTC$SHPH

Sectors27d ago

Update: Gold Rises Off an Eight-Month Low as Dollar Falls After US Consumer Prices Eased in June

(Updates prices in the second and final paragraphs.)Gold rose off an eight-month low on Tuesday as the U.S. dollar and yields weakened after the consumer prices eased in the world's biggest economy in June, easing concerns rising prices would force higher interest rates.Gold for August delivery was last seen up $57.50, or 1.4%, to $4,063.20 per ounce, after falling to the lowest since Nov. 6 a day earlier.The US Bureau of Labor Statistics reported the Consumer Price Index fell by 0.4% in June, down from a rise of 0.5% in May and against expectations for a fall of 0.2%, according to Marketwatch. The drop was the largest monthly decrease since April 2020, the agency said. Falling energy prices were the largest contributor.Core CPI, excluding volatile food and energy, was unchanged in June, down from a monthly rise of 0.2% in May and under expectations for a rise of 0.2%.Lower inflation is easing worries the Federal Reserve will need to raise interest rates to calm rising prices, however oil surged again since the U.S. and Iran renewed fighting on the weekend."Gold briefly fell below USD 4,000 on Monday as surging oil prices reignited inflation and rate hike concerns," Saxo Bank wrote. "However, it subsequently rebounded above that level as the dollar and Treasury yields failed to strengthen further despite the latest geopolitical developments, potentially signalling the first break in the recent market reaction function linking higher oil prices with weaker precious metals."The dollar was lower following the inflation data, with the ICE dollar index last seen down 0.3 points to 100.94. Treasury yields were lower, with the yield on the US two-year note last seen down 8,2 basis points to 4.214%, while the 10-year note was paying 4.586%, down 3.4 points

$GCQ6$GLD

Sectors27d ago

Sector Update: Healthcare Stocks Fall Tuesday Afternoon

Healthcare stocks were lower Tuesday afternoon, with the NYSE Healthcare Index down 1.6% and the State Street Health Care Select Sector SPDR ETF (XLV) falling 1.8%.The iShares Biotechnology ETF (IBB) was fractionally lower.In corporate news, the US Justice Department recently sent civil investigative demands, which are similar to subpoenas, to lawyers for a group of hospitals and doctor groups suing Claritev (CTEV) for alleged antitrust violations, Bloomberg reported. Claritev shares fell past 11%.HCA Healthcare (HCA) shares dropped 7.3% after the company lowered its 2026 adjusted diluted EPS guidance. Stephens cut the company's price target to $480 from $500, while keeping its overweight rating.NextCure (NXTC) will merge with privately held Avere Therapeutics in an all-stock deal to advance Avere's lead oral IL-23 therapy, AVR-001, for inflammatory diseases, the company said. NextCure shares surged 200%.

$CTEV$HCA$NXTC

Asia Markets27d ago

Update: Nasdaq, S&P 500 Rise as Inflation Cools Most in Six Years, Trump Drops Strait of Hormuz Cargo Toll Plan

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes traded mixed, with the Nasdaq Composite and the S&P 500 gaining, as the June inflation rate fell the most in more than six years and President Donald Trump withdrew plans to impose a levy on cargo transiting the Strait of Hormuz in the Persian Gulf.The tech-heavy Nasdaq advanced 1% to 26,125.4, with the S&P 500 climbing 0.4% to 7,545.1 after midday Tuesday. The Dow Jones Industrial Average bucked the trend, slipping 0.1% to 52,429.5.Technology led gainers, while healthcare was the steepest decliner. IBM's (IBM) shares sank 25%, the steepest decline on the Dow and the S&P 500, after the tech giant issued Q2 guidance below Wall Street expectations.The US seasonally adjusted consumer price index fell by 0.4% month-over-month in June, the steepest drop since April 2020, compared with expectations for a 0.1% decrease in a Bloomberg-compiled survey and following a 0.5% increase in May, according to data released Tuesday by the Bureau of Labor Statistics. Core CPI, which excludes food and energy prices, held steady, compared with the 0.2% growth estimate, in line with May's growth.The year-over-year rates for overall and core CPI slowed to 3.5% and 2.6%, respectively, from 4.2% and 2.9% in the previous month. The "super core", which is defined as core services excluding housing, saw the biggest sequential decline since May 2020, according to a note from Jefferies.US Treasury yields fell, with the 10-year down 2.9 basis points to 4.58% and the two-year lower by 5.7 basis points to 4.21%.Meanwhile, President Donald Trump withdrew his proposal to charge a 20% toll on cargo transiting the Strait, according to his social media post on Tuesday. "Based on highly productive conversations with Middle East leadership, I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States."There will be a "FULL Blockade, but only on Ships coming to and from Iranian ports, or carrying anything have to do with Iranian cargo," Trump said on Truth Social.The front-month global benchmark North Sea Brent rose 1.7% to $84.69 a barrel, and the US West Texas Intermediate climbed 1.3% to $79.18 a barrel, off session highs."Resumption of tension in the Strait of Hormuz risks a reversal, but this month's [inflation] data is a step in the right direction for the Fed," Jefferies Chief US Economist said in a note.The probability of the Federal Reserve leaving its policy unchanged in July soared to 83% following the inflation data, from 58% a day ago, the CME FedWatch tool showed Tuesday. The likelihood of the policy pause continuing across September, October, and December also jumped.Further in company news, traders digested the latest round of earnings from mega-cap banks. Goldman Sachs' (GS) Q2 results topped analysts' estimates as a record performance in the global banking and markets business propelled revenue growth. Shares jumped 7.7%, the Dow's leader.JPMorgan Chase (JPM) reported Q2 results above market expectations, driven by higher investment banking fees and markets revenue. Its shares rose 1.9%, one of the Dow's top performers.

Dow JonesNasdaq CompositeS&P 500$GS$IBM$JPM

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Asia Markets27d ago

Update: Nasdaq, S&P 500 Rise as Inflation Cools Most in Six Years, Trump Drops Strait of Hormuz Cargo Toll Plan

Dow JonesNasdaq CompositeS&P 500$GS$IBM$JPM