Morning Headlines

The US military restored its naval blockade of Iranian ports at 4 p.m. ET on July 14 and launched dozens of new strikes on Iranian military targets near the Strait of Hormuz — through which roughly 20% of world energy supplies pass — after a brief ceasefire collapsed. The renewed conflict is pushing oil prices higher and rattling global markets.

China's exports jumped 27% year-on-year in June to a record $412.39 billion, far exceeding forecasts, as soaring global demand for AI data-center hardware and buyers racing ahead of new US tariffs that took effect July 1 drove the second-largest monthly trade surplus on record. The figures underscore China's continued manufacturing dominance despite rising geopolitical headwinds.

The death toll from a fire at the Rong Beer Na Lat Phrao live-music venue in Bangkok's Chatuchak district climbed to 30, with dozens more hospitalized in critical condition, after an electrical fault in a ceiling AC unit ignited flammable soundproofing and blocked emergency exits. Thai police are investigating possible negligence after finding beer crates and furniture obstructing escape routes.

England and Argentina met today in the FIFA World Cup 2026 semifinal in Atlanta — their first World Cup clash since 2002 — with Lionel Messi and Harry Kane headlining a match watched by billions worldwide. The winner advances to the July 19 final at MetLife Stadium in New York/New Jersey.

June CPI data showed monthly consumer prices fell 0.1%, with core inflation holding at 2.9% year-over-year, lifting the Dow Jones above 53,000 to a record close and bolstering hopes for a Fed rate cut before year-end. Major bank earnings from Morgan Stanley, Johnson & Johnson, and BlackRock are also due today, keeping markets on watch.