Iran, US Trade Attacks For Second Day, SK Hynix To Set US Listing Price | The Pulse 7/9/2026

AZN: Post-trial-failure downside and follow‑through risk as the market revalues the pipeline and near‑term earnings outlook.

Clear negative catalyst (late-stage trial failure) with immediate sharp repricing; follow-through risk as the market digests pipeline and earnings implications.

Fragmentary macro note: mentions 30‑year real yields near Global Financial Crisis levels, with bond yields and JGB yields rising in tandem; implies a higher‑for‑longer real‑rate regime and pressure on long‑duration assets.

News segment discusses SK Hynix planning a record-setting first-time US share sale (~$26B), highlighting strong demand/oversubscription, the company’s dominant position in high-bandwidth memory (HBM ~57% share), and the strategic goal of getting in front of US investors/customers in the AI supply chain. Separately notes a price-target change on AMD framed as a valuation reset vs a fundamental slowdown, with AMD down on the day.

Discussion highlights Delta (DAL) reaffirming profit guidance despite fuel-cost uncertainty, with strong unit revenue driven by premium demand and corporate travel. Commentary suggests network carriers have de‑risked earnings via premium cabin, loyalty, and partnerships; low-cost carriers lag in profitability. Mentions DAL positively; Southwest (LUV) still profitable; Frontier (ULCC) improving; Copa (CPA) cited as structurally higher‑margin/low leverage peer.

Commentary suggests the U.S. is trying to avoid an all‑out war with Iran but will sustain naval operations to keep Strait of Hormuz shipping lanes open. It also notes the U.S. revoked Iran’s ability/license to sell oil, implying tighter Iranian supply and continued geopolitical risk premium in energy/shipping. Overall implication: higher short‑term oil risk premium, beneficiaries in energy and defense; losers in airlines/transport and oil‑consuming industries if crude spikes.

Report says Starbucks is developing more in‑house AI tools to replace software it currently buys from large enterprise vendors (mentioned: Microsoft, IBM; also Salesforce referenced). The headline implies potential vendor spend displacement; the body notes IBM and Salesforce were down ~2% on the news, Microsoft marginally lower.

Bloomberg brief highlights: SK Hynix’s major U.S. listing raising ~$26.5B (largest foreign U.S. listing per segment), U.S. says Iran talks continue despite clashes, Japan sees a “triple rally” (yen stronger, yields down, equities up) amid comments urging pension funds to shift toward domestic assets, and Europe shows relative resilience with cyclicals firmer; EasyJet sees competing interest involving Apollo vs Castlelake; Vodafone sold an entire stake at a premium.

Commentary frames markets as split into “AI” vs “everything else,” noting Q1 earnings strength was concentrated in a handful of large companies (especially big tech). Mentions Mark Zuckerberg/Meta suggesting Meta might sell excess compute capacity. Also notes the Fed decision timing alongside big‑tech earnings could have a disproportionate market impact.

Broadcast highlights: SK Hynix makes a major U.S. listing debut; easyJet jumps on a surprise Apollo approach (potential bidding war); Japan finance minister urges pension funds to allocate more domestically, supporting JPY; Goldman notes favorable carry‑trade conditions; UAE oil output hits a record (4.1mb/d) as Brent/WTI trade ~1% lower; Nasdaq futures point ~0.5% lower after prior AI‑led gains.