Shipping markets reacted to reports of an attack on vessels in the Hormuz Strait, a critical chokepoint for global oil shipments. The incident threatens supply routes that handle roughly one-third of worldwide petroleum traffic, potentially disrupting energy markets already dealing with geopolitical tensions. Insurers and tanker operators face immediate risk assessments.

US economic indicators dominated headlines with the latest PCE price index and consumer spending data. The Federal Reserve's preferred inflation gauge influences monetary policy decisions, while consumer expenditure trends reveal household confidence levels. Markets watch these releases closely as they signal potential rate adjustment timing and economic trajectory signals for the remainder of the year.

Apple implemented price increases across several product lines, reflecting ongoing supply chain pressures and currency headwinds. The move affects consumer electronics demand patterns and competitor pricing strategies. Meanwhile, JPMorgan Chase enters a new phase in its CEO succession planning, with internal candidates and external discussions shaping the leadership transition timeline.

Automotive supplier Marelli confirmed asset acquisition negotiations, signaling consolidation within the auto parts sector. The talks emerge amid evolving EV transition demands and traditional manufacturer restructuring efforts. These developments collectively underscore market volatility across energy, technology, finance, and manufacturing sectors.