News Bulletin
Monday, July 13, 2026
Evening Edition

Economic Numbers:

Time	Event	Actual	Forecast	Previous
Monday, July 13, 2026
11:30	3-Month Bill Auction	3.76%		3.74%
11:30	6-Month Bill Auction	3.86%		3.83%
12:30	Fed Waller Speaks
14:00	Federal Budget Balance (Jun)	-120.0B	-135.8B	-293.0B

Indices

	CLOSE	50 DMA	200 DMA
DJIA	52,498.82	50,969.57	48,637.69
NASDAQ	25,873.18	26,071.55	23,807.92
S&P 500	7,515.44	7,440.56	6,969.12

Earnings Calendar:

(EPS: Earning Per Share / Rev: Revenue / Mkt Cap: market Capital/ BMO: Before Market Opening /AMC: After Market Close)

COMPANY	EPS Act	EPS Fore	Rev Act	Rev Fore	Mkt Cap	Time
ProgressivePGR:US		3.81		21.69B	$134.20B
FastenalFAST:US		0.33		2.34B	$52.45B	AM
Washington FederalWAFD:US		0.76		191.74M	$3.09B
FB FinancialFBK:US		1.16		178.46M	$2.55B	PM
Greenbrier CompaniesGBX:US		0.99		736.22M	$1.50B	PM

Market News:

Wall Street ended lower on Monday, dragged down by a combination of sliding tech stocks following an earlier rout in South Korean markets, and a resurgence of geopolitical risk premium following a sharp escalation in tensions between the U.S. and Iran.

The S&P 500 index shed 0.8% to close at 7,516.68 points and the tech-heavy NASDAQ Composite slid 1.6% to settle at 25,873.18 points. The blue-chip Dow Jones Industrial Average slipped 0.3% to conclude at 52,498.82 points.

Trump reimposes Iranian blockade, says U.S. will be reimbursed

The situation in the Middle East deteriorated over the weekend as tensions escalated sharply after the U.S. and Iran exchanged fresh strikes.

The biggest flare up in fighting between Washington and Tehran since they inked an interim peace deal in mid-June has led to the collapse of a ceasefire between the two sides and conflicting messages from both on control of the Strait of Hormuz. Consequently, the geopolitical risk premium has resurfaced, with oil prices soaring last week and extending that advance into Monday.

"The Hormuz Strait is OPEN, and will remain OPEN, with or without Iran. We are reinstating the THE IRANIAN BLOCKADE, so named because it is only stopping Iran’s ships or customers from entering or leaving. All other countries will have fair and open use of the Strait," President Donald Trump said on his Truth Social service in the morning.

"The U.S.A. will be, from this point forward, known as ’THE GUARDIAN OF THE HORMUZ STRAIT,’ but as such, and as a matter of FAIRNESS, will be reimbursed, at the rate of 20% on all cargo shipped, for any and all costs necessary to do the job of providing safety and security to this very volatile section of the World. The process and formation will begin immediately," the U.S. leader added.

Trump’s comments came after Iran’s state media on Sunday said the country had closed the strait until "stability" was "restored and the U.S. no longer" interfered "in its management."

Iran has repeatedly said that ships attempting to transit the vital waterway must follow routes approved by its navy and has taken objection to any other routes, including a separate corridor established by Oman and the International Maritime Organization. Iran has attacked ships traversing other routes, including a southern corridor off the coast of Oman.

Control over the strait has emerged as a key flashpoint between Washington and Tehran. U.S. Central Command on Sunday said it had completed four rounds of strikes in the week against Iran in retaliation for its attacks on commercial ships, while repeatedly maintaining that the narrow chokepoint remained open.

Oil prices had slid to pre-war levels at the end of last month after the U.S. and Iran had signed their peace deal which had led to a reopening of the strait and a tick up in ship transit activity. However, the new round of fighting has led to a decline in crossings and has reignited inflationary concerns. According to Kpler data, confirmed vessel crossings through the strait declined by about 52% week-on-week over Friday to Sunday.

Brent crude futures, the global oil benchmark, were last up 9.2% to $83.03 a barrel, while U.S. West Texas Intermediate crude futures rose 8.9% to $77.73 a barrel.

Tech slides after rout in South Korea

Turning away from the Middle East, technology stocks grabbed a chunk of the spotlight on Monday. A furious rally in the sector earlier in the year on the back of the high-flying artificial intelligence trade helped Wall Street shake off the Iran war and return to record levels. However, investors have in recent weeks soured on tech amid rising concerns that the AI trade has flown too high and too fast.

Aside from U.S. equities, the AI trade has notably taken the South Korean market on a roller-coaster ride this year. A severe supply crunch for memory processing power for AI has buoyed the stock of South Korean memory chipmakers Samsung Electronics and SK Hynix, turning them into trillion dollar companies and the Asian nation’s two biggest firms. Subsequently, South Korea’s benchmark KOSPI gauge hit a record high towards the end of June.

Since then, however, the index has slumped a whopping 25.3%, marking a slide into bear market territory. The KOSPI fell about 9% on Monday alone, while Samsung and SK Hynix’s South Korean stocks slumped 10.7% and 15.4%, respectively. The latter is coming off a spectacular Nasdaq debut on Friday, in what became the largest ever U.S.-listing by a foreign company. But the U.S.-listed shares struggled on Monday, sliding more than 9%.

"The Asian memory selloff is the key driver of the U.S. equity market weakness. As many AI-related companies are weaker, investors are rotating into megacaps Microsoft, Amazon, and Apple to avoid the weakness. There is also broader rotation away from the AI-related names to the balance of the tape. Advancers are currently leading decliners in the S&P 500 at a pace of 1.4 to 1. The headlines out of the Middle East are giving an added boost to the energy sector," Michael O’Rourke, chief market strategist at Jones Trading, told Investing.com.

Eyes on key inflation data for rate cues

Moving away from tech, market participants are now looking ahead to key U.S. consumer and producer inflation data this week. While analysts and economists expect price pressures to have eased in June from May due to a fall in oil prices in that period, inflationary dynamics have rapidly shifted amid the resurgence of the geopolitical risk premium and the renewed spike in crude.

The Federal Reserve on Friday once again vowed to deliver price stability and said it was prepared to "act forcefully" to keep a lid on longer-term inflation expectations.

The central bank’s comments were published on Friday in its monetary policy report, which is submitted semiannually to the U.S. Senate Committee on Banking, Housing, and Urban Affairs and to the House Committee on Financial Services. New Fed chair Kevin Warsh will be giving testimony to both committees next week.

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