Oleksii Liskonih
Listen below or on the go on Apple Podcasts and Spotify
The Israel-Iran ceasefire seems to falter. (00:25) Starbucks (SBUX) reportedly denies plans to sell China operations amid market speculation. (01:16) Walmart (WMT) stretches its summer deals event out to six days. (02:04)
This is an abridged transcript.
We begin with a developing story.
Despite a ceasefire agreement, the Israel Defense Forces said Iran has continued its missile strikes on Israel.
But, according to media reports, Iranian officials deny that they fired on Israel.
Israel's defense minister, Israel Katz, said he has instructed the military to respond forcefully to Iran's violation of the ceasefire with high-intensity strikes against targets in the heart of Tehran.
President Trump wrote in a Truth Social post published around 1:30 a.m. ET today, "The CEASEFIRE IS NOW IN EFFECT. PLEASE DO NOT VIOLATE IT! DONALD J. TRUMP, PRESIDENT OF THE UNITED STATES!"
According to a Firstpost report that cites White House officials, the ceasefire was brokered by Trump through talks with Israeli Prime Minister Benjamin Netanyahu while his team, including Vice President JD Vance, held talks with Tehran.
Starbucks (NASDAQ:SBUX) has denied it is considering a full sale of its China business, pushing back against a report from Caixin Global that boosted its shares in late trading on Monday.
A company spokesperson told Reuters, “I can confirm Starbucks is not currently considering a full sale of its China operations.”
The coffee chain is currently facing intensified competition from lower-priced local rivals in its second-largest market.
Earlier this month, Starbucks (NASDAQ:SBUX) launched its first-ever price drop in China, lowering the price of some non-coffee iced drinks by an average of 5 yuan.
Reuters reported in February, KKR & Co (NYSE:KKR), Fountainvest Partners and PAG are among buyout firms interested in acquiring a stake in Starbucks’ China business.
Instead of four, what about six?
We told you last week that Amazon’s (AMZN) next Prime event will be four days long. Well Walmart (NYSE:WMT) announced on Monday that the Walmart Deals event will last six days.
It will start online at 12 a.m. ET on Tuesday, July 8, and in stores at local opening times and run through Sunday, July 13.
The thousands of deals will run across the electronics, home, fashion, toys, beauty, and back-to-school categories.
For the first time, Walmart Deals will be available both in stores and online.
What’s Trending on Seeking Alpha:
China set for 100+ DeepSeek-like AI breakthroughs in 18 months, ex-official says
Tesla robotaxis violate traffic laws, spark federal scrutiny
UK's competition regulator proposes new status for Google in search to increase control
Catalyst watch:
HPE (HPE) CEO Antonio Neri will deliver a keynote address at the HPE Discover event in Las Vegas. The four-day event will have a strong focus on networking, AI, and hybrid cloud, with announcements expected on HPE GreenLake, next-gen storage, and AI-native networks.
CF Industries (CF) will hold an Investor Day event.
Some of the notable companies due to appear at the Northland Growth Conference include FatPipe (FATN), Asure Software (ASUR), Innventure (INV), and TeraWulf (WULF).
Dow, S&P and Nasdaq futures are in the green. Crude oil is down 3.4% at $66/barrel. Bitcoin is down 0.1% at $105,000. Gold is down 1.3% at $3,324.
The FTSE 100 is up 0.3% and the DAX is up 2.2%.
The biggest movers for the day premarket: Teladoc Health (NYSE:TDOC) +6% – Shares extended Monday’s 14% surge, the stock’s biggest jump since last November, after Citron Research said the market is underestimating the value of the virtual healthcare platform.
On today’s economic calendar:
9:00 am FHFA House Price Index
9:15 am Cleveland Federal Reserve Bank President Beth Hammack will speak on monetary policy before the Barclays-CEPR Monetary Policy Forum 2025.
10:00 am Federal Reserve Chairman Jerome Powell will deliver semi-annual monetary policy report testimony before the House Financial Services Committee.
12:30 pm New York Federal Reserve Bank President John Williams will give keynote remarks to the Center for Economic Growth and NY CREATES.
2:05 pm Boston Federal Reserve Bank President Susan Collins will speak before the “State of the Nation's Housing 2025” event hosted by the Federal Reserve Bank of Boston.
