U.S. President Donald Trump holds a press conference at the Beshtepe Presidential Palace during the NATO Summit in Ankara, Turkey, on July 8, 2026.
Black Kara | Getty Images
Hello, my name is Justina Lee from Singapore. Welcome to another edition of CNBC’s Daily Open.
Recent developments at the NATO summit suggest that relations between Europe and the United States are under strain due to the lack of new commitments from alliance members on support for the Middle East conflict.
Energy concerns are rising as tensions between the United States and Iran flare up and oil tanker traffic through the Strait of Hormuz slows.
Beyond geopolitical concerns, the technology and financial sectors have made great strides. Multi-trillion dollar Korean chipmaker SK Hynix plans to go public in the U.S., while Goldman Sachs has won contracts to manage Verizon Communications and Lockheed Martin’s combined $70 billion in retirement assets.
What you need to know today
The NATO summit became a one-man show, with the meeting largely centered around President Donald Trump, who expressed his disappointment with alliance members.
CNBC’s Steve Sedgwick said: “Never before have I seen such a dramatic reversal of fortune, affecting so many global players, compressed into just 48 hours.” And as tensions between the United States and Iran escalate as the summit progresses, President Trump departed Turkey on Wednesday without any new commitments from NATO to assist in the conflict.
“I’m not happy with NATO because they didn’t want us to support Iran, which is the biggest sponsor of terrorism,” Trump said during an appearance with NATO chief Mark Rutte. “They didn’t want to help us.”
Meanwhile, tensions in the Middle East have flared up again, with Iranian attacks on commercial ships raising concerns about energy supplies. But signs of continued diplomatic efforts helped calm oil markets after prices soared in the wake of the U.S. attack on Iran.
In tech, investors are glued to $1 trillion South Korean chipmaker SK Hynixdebuted in the US market. The company’s stock price has soared more than sevenfold over the past year due to the global memory shortage.
SK Hynix is not the only technology company attracting attention. competitors micronThe company’s stock soared Thursday after announcing billions of dollars in new investments aimed at strengthening the U.S. semiconductor supply chain. The memory chip maker, which reached a market capitalization of $1 trillion for the first time in May, is seeing its stock price soar nearly 250% in 2026.
Meanwhile, Goldman Sachs has won a deal with Verizon Communications and Lockheed Martin to manage a combined $70 billion in retirement assets. This is one of the big recent announcements in the fast-growing corporate investment outsourcing market.
—Justina Lee
And finally…
Inside NATO’s extraordinary 48 hours that revealed President Trump’s grip on global diplomacy
For 48 hours in Ankara, Turkey, it felt as if the world was running on Donald Trump’s schedule.
The market soared. NATO allies are preparing for confrontation. Ukraine wanted reassurance. Iran threatened to overturn the agenda. At one moment, leaders were bracing for a diplomatic crisis. He then described a “love-in” with the president that many feared would further divide the alliance.
Once again, all European NATO member states, and even Canada, were virtually on trial for their participation in this gathering. President Trump and Secretary of Defense Pete Hegseth have again sharply criticized NATO for its lack of support for Iran and for not spending nearly enough money on its own security.
—Steve Sedgwick
