This photo taken from the village of al-Khaniya in southern Lebanon shows smoke rising from the scene of an Israeli-controlled explosion in al-Mansouri in southern Lebanon on September 7, 2026.
Kawanat Haju | AFP | Getty Images
Hello, my name is Hui Jie from Singapore. Welcome to another edition of CNBC’s Daily Open.
The US government claims economic pressure will help end the war with Iran. However, it appears the missile is still flying. The US military has destroyed five Iranian crude oil carriers after the Iranian government twice targeted US warships. Meanwhile, the Treasury Department has sanctioned 27 Iranian airlines.
Elsewhere, Canada’s retaliatory tariffs on U.S. goods went into effect, while new infrastructure deals by Qualcomm and Corning boosted AI stocks.
What you need to know today
Despite the US insisting that it wants to focus on economic pressure to force an end to the Iran war, the US government’s military operations remain very active.
U.S. Central Command destroyed five Iranian oil tankers after Iran attempted to attack a U.S. Navy warship while downplaying Iran’s seizure of a U.S. unmanned submarine.
The Treasury Department on Tuesday sanctioned 27 Iranian airlines and a handful of other companies as part of continued efforts to isolate Iran’s economy.
The move comes as the Iranian government continues its attacks on the Strait of Hormuz and surrounding areas, extending its war with the United States for more than six months and putting further pressure on global energy prices.
Oil prices inched closer to the $100/barrel level, with West Texas Intermediate futures rising to $94.31 in early Asian trading.
Brent, the international benchmark, was at $99.21 after rising as high as $99 in extended trading.
Elsewhere, the trade rift between Canada and the United States deepens, with C$27.6 billion ($20 billion) worth of tariffs taking effect in the province on Tuesday.
Ottawa pledged last month to impose a “dollar for dollar” response after trade talks between the two countries collapsed.
The U.S. government then imposed new 50% tariffs on about $20 billion worth of Canadian wine, hockey sticks and other staples.
AI rally
In tech, deals announced by glassmaker Corning and semiconductor company Qualcomm boosted the AI sector, with chipmakers Intel and Advanced Micro Devices up 9% and 6%, respectively.
Other companies such as Hewlett Packard Enterprise rose 8% and photonics company Coherent rose 7%.
Qualcomm stock announced a data center infrastructure partnership with Amazon Web Services to help the company build AI infrastructure for AWS, with a particular focus on inference.
The company said in a filing with the Securities and Exchange Commission that it has issued stock acquisition rights to Amazon for 25 million shares at a price of $161.26 each, for a total value of $4 billion.
Corning announced a multibillion-dollar partnership with Verizon to build fiber-optic cables for AI connectivity, just three months after signing a multibillion-dollar deal with Amazon.
