Wallstreetcn Morning Brief | July 10, 2026

Hormuz crisis impacts supply: Reports say Iran has urgently shipped out over 10 million barrels of crude oil within 24 hours, and Qatar has suspended LNG capacity restoration. Maritime analytics firms report that shipping through the Strait of Hormuz has plummeted, nearly coming to a standstill. Israeli Defense Minister: The IDF is ready to resume military operations against Iran. Israeli Prime Minister: Will “not allow” Iran to acquire nuclear weapons, plans to significantly increase the national defense budget. US officials: US-Iran technical negotiations are ongoing.Did Ukrainian drones penetrate Russia’s energy defenses? Nine out of the top ten refineries have been attacked, and Russia has announced a diesel export ban.The Federal Reserve officially announces the leadership lineup for five major reform working groups, including former central bank governors, Silicon Valley AI leaders, and Nobel Prize-winning economists.The State Council issues the “15th Five-Year” carbon peaking action plan, striving for 300 gigawatts of new energy storage capacity and 30% new energy vehicle ownership by 2030, and promoting use of primarily non-fossil electricity for new computing power facilities.China’s PPI rose 4.1% and CPI rose 1% year-on-year in June, with AI-driven demand boosting prices for tech equipment and semiconductors.SK Hynix will be listed on Nasdaq this Friday, raising a record amount for a foreign company IPO in the US.Foxconn Industrial Internet expects first-half net profit to double, with AI server revenue up over 230% year-on-year. Gigadevice expects first-half net profit to rise 10.99 times, with its storage business dubbed a “money printing machine.”OpenAI fully releases GPT-5.6—and simultaneously launches the new agent ChatGPT Work—two weeks after the limited supply period; CEO Altman says “many adjustments” were made after discussions with the US government.Former Fed Chair Ben Bernanke joins Anthropic’s governance body to oversee AI risks and public interests.Meta joins the AI price war, launching its first paid large model with capabilities surpassing Google Gemini, and pricing at just a quarter of Anthropic’s similar products. Reports: Meta’s in-house “Iris” AI chip is scheduled for mass production in September, with computing power set to double to 14 GW by 2027.Micron raises its US investment plan from $50 billion to $250 billion, aiming for 40% of DRAM production to occur in the US.