//DISPATCH
Tuesday, August 4, 2026, 7:57 EDT
MARKETS
| S&P FUTURES | 7,653.75 | +0.33% | |
|---|---|---|---|
| DOW FUTURES | 53,896.00 | +1.05% | |
| NASDAQ FUTURES | 29,200.25 | +1.07% | |
| CRWD | 202.54 | +6.12% | |
| AMZN | 284.02 | +4.58% | |
| SPCX | 114.53 | +5.68% |
SIGNAL READ
Oil majors post record profits as Iran war drives prices higher
Saudi Aramco reported a 33% increase in second-quarter adjusted net income to $33.4 billion, while Exxon Mobil, Chevron and BP also posted sharply higher profits as war-related disruptions lifted oil prices. The New York Times emphasized Aramco’s efforts to reroute exports around the Strait of Hormuz, while CNBC highlighted President Trump’s call for Exxon and Chevron to lower consumer prices and return some of their gains to the public.
U.S.// 2 STORIES
Spokane wildfires have forced evacuations for 65,000 people and destroyed hundreds of structures, with one arson arrest as other causes remain unclear. Prosecutors dropped three Reflecting Pool cases after evidence pointed to an installation failure, undercutting the original charges.
Arson arrest follows Spokane wildfires and mass evacuations
Three major wildfires around Spokane have prompted evacuation orders for about 65,000 people and destroyed hundreds of structures, according to The Washington Post and NPR. Authorities arrested 37-year-old Aaron Farinacci on a first-degree arson charge linked to the Old Trails Fire, while the causes of the other blazes remain under investigation. The Washington Post highlighted a family’s escape by boat on Lake Spokane, while NPR emphasized the fires’ destruction and shifting winds threatening neighborhoods.
Justice Department drops three Reflecting Pool cases after damage assessment reversal
NPR reports that federal prosecutors dropped misdemeanor charges against three people accused of damaging the Lincoln Memorial Reflecting Pool. Prosecutors said newly released Interior Department evidence pointed to a botched installation rather than vandalism, while President Trump and Interior Secretary Doug Burgum disputed that assessment. The reversal raises questions about the evidence and investigative standards behind the original cases.
WORLD// 4 STORIES
Hormuz remains the day’s central fault line: shipping is exposed as Washington and Tehran give conflicting accounts of talks over reopening. Ukraine and Russia traded strikes amid civilian deaths, while 157 migrants were rescued after a Channel boat fire.
Hormuz shipping remains vulnerable as talks over reopening stall
A cargo ship reported being hit by an unknown projectile near Oman, underscoring the continuing risks to commercial traffic through the Strait of Hormuz. The Wall Street Journal reports that negotiations are stalled over transit fees, security guarantees and sanctions relief, while the Associated Press emphasizes conflicting US and Iranian claims about direct talks and ongoing mediation.
Trump pauses Iran strikes as Tehran denies direct US talks
President Donald Trump says negotiations with Iran are underway and calls them the last chance for a deal, after pausing planned strikes. Tehran denies direct talks with Washington, saying it is negotiating with Oman over a temporary reopening of the Strait of Hormuz. CNBC reports Qatar sees mediators including Oman and Pakistan facilitating exchanges, while the Economist emphasizes the uncertainty surrounding the talks.
Ukraine strikes Russian logistics sites as civilian casualties mount
Ukrainian strikes damaged Wildberries warehouses in the St Petersburg and Tver regions, while another industrial site near Moscow was hit, killing five people and injuring 10, according to the BBC and local officials. Kyiv says the depots supply Russia’s military, a claim Moscow denies, while Russia said it intercepted 320 drones. Russian strikes in Ukraine killed at least four people, and Russian officials said a Ukrainian drone attack on a beach the previous day killed seven.
157 migrants rescued after boat catches fire in English Channel
French and British rescue vessels recovered 157 migrants after an engine fire caused a small boat crossing to the UK to deteriorate rapidly, according to the BBC. French boats rescued 103 people and British vessels rescued 54; no injuries or fatalities were reported, and all were taken to Boulogne-sur-Mer.
BUSINESS// 5 STORIES
US stocks are near records as cheaper oil and strong earnings revive risk appetite, with Palantir’s AI-driven revenue surge drawing attention. But McDonald’s still saw traffic decline, while Pfizer leaned on non-Covid products, a less uniform picture beneath the rally.
Palantir shares jump as commercial revenue surges on AI demand
Palantir’s second-quarter revenue rose 93% to $1.94 billion, led by a 149% increase in commercial revenue to $764 million, while government revenue grew 90% to $809 million. CNBC reported that the company attributed the results to demand for sovereign AI tools and data privacy, as customers seek to limit reliance on major AI labs. Shares rose about 16% in premarket trading despite having declined 29% this year.
US stocks near records as falling oil prices ease inflation fears
US stocks rallied Monday, with the S&P 500 gaining 1.5% to finish just 0.1% below its record and the Dow reaching an all-time high. AP attributed the gains to a 4.7% drop in Brent crude to $83.77 after President Donald Trump held off on planned strikes against Iran, easing concerns about inflation and oil supplies. Wire reports similarly linked the rally to hopes that the pause could support prospects for an Iran deal, while investors also assessed strong corporate earnings.
McDonald’s beats earnings estimates and names new US business president
McDonald’s reported adjusted second-quarter earnings of $3.38 per share, ahead of estimates, while revenue of $7.10 billion fell slightly short, CNBC reported. US same-store sales rose 0.8% as traffic declined, and the company appointed 26-year veteran Skye Anderson to lead its US business. Anderson succeeds Joe Erlinger as McDonald’s pursues a strategy focused on restaurant design, food and beverage innovation, and customer service.
Bending Spoons agrees to buy Airtable for $1.28 billion
TechCrunch reports that Bending Spoons will acquire Airtable in cash, its first acquisition since going public in July. Airtable’s annual recurring revenue reached approximately $480 million in June 2026, and the company says it serves more than 500,000 organizations. The deal would consolidate the no-code platform market as Bending Spoons adds another major software brand to its portfolio.
Pfizer beats estimates and raises low end of revenue guidance
Pfizer reported second-quarter adjusted earnings of 77 cents per share and revenue of $15.03 billion, exceeding analysts’ estimates. The company raised the low end of its full-year revenue forecast to $60.5 billion, citing stronger non-Covid products including Eliquis, while lowering expected Covid product revenue to $4 billion.
TECH// 2 STORIES
The tech supply chain is hardening on both sides: Washington is weighing curbs on Chinese data-center optics while CXMT aims to challenge established memory makers, though neither move is yet a proven production reality.
US drafts possible ban on new Chinese data center components
Reuters reports that the FCC is drafting restrictions on imports of new Chinese optical transceiver models, which carry data through fiber-optic networks in US data centers. Officials say the measure is intended to reduce risks including data theft, malware and service disruptions, but it could still be changed or shelved. China says it will respond to actions that materially harm its interests, while US cloud companies could face higher costs and rely more on domestic suppliers.
China’s CXMT targets advanced smartphone memory production
China’s state-backed CXMT is preparing to produce small quantities of LPDDR6 smartphone memory by year-end, pending successful prototype testing, Bloomberg reports. The chips are designed to offer faster data transfers and improved power efficiency for devices running AI applications locally. Scaling production would intensify competition with SK Hynix, Samsung and Micron, though CXMT has yet to demonstrate mass-production capability.