In this photo obtained from Iran’s ISNA news agency on June 18, 2026, ships are seen moored in Bandar Abbas, along the Strait of Hormuz.
Amirhossein Kolgouei | AFP | Getty Images
Hello, my name is Hui Jie from Singapore. Welcome to another edition of CNBC’s Daily Open.
Tensions in the Middle East rose again over the weekend, but markets appeared largely unfazed, with investors focusing instead on technology’s recovery rally.
SpaceX is on track to become one of the fastest companies in history to list on the Nasdaq 100 index, but memory shortages are forcing some smaller tech companies to make increasingly difficult choices.
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What you need to know today
For markets, the Iran conflict is starting to resemble the Beatles’ “Hey Jude.”
The opening bars have a familiar rhythm. It looks like the week is going to start with tensions easing, oil prices calming down, stocks finding their footing and investors singing along.
But then there’s a long outro. A new attack, a new threat, an escalation over the weekend – and just when you think the song is ending, it starts all over again.
After Iran reportedly attacked a Panama-flagged oil tanker on Saturday, the United States attacked Iranian military targets over the weekend, and negotiations to end the war were put on hold. Iran’s neighbors Kuwait and Bahrain also reported incoming missiles and drones overnight.
For this reason, US President Donald Trump on Sunday reiterated his warning to Iran, saying that the day may come when the US “can no longer be rational and will be forced to carry out militarily the work we have successfully begun. Then the Islamic Republic of Iran will no longer exist!”
But, as the song’s long finale suggests, the conflict soon returned to familiar territory, with the United States and Iran once again agreeing to cease hostilities.
“Technical discussions will continue on all areas of the MOU,” a U.S. official told CNBC on Sunday.
“For the time being, there will be a cease-fire on both sides and ships will be able to sail freely,” the official said.
Crude oil prices rose slightly, based on international standards, due to the rise in crude oil prices. brent $72.31 and US west texas intermediate Futures are $69.82.
But investors appear to be more focused on whether last week’s sell-off in tech stocks has finally run its course. Asian markets started the week mixed, with US market futures rising.
Chip stocks came under pressure last Friday after a New York Times report that OpenAI was considering delaying its IPO until next year. This is partly due to poor performance after SpaceX’s debut and increased volatility in AI-related stocks.
Despite its weaknesses, SpaceX is poised to be one of the fastest additions ever. Nasdaq-100 This move could see some buying by index-tracking funds and other product sponsors after the market closes on July 6.
Elsewhere in the technology industry, memory shortages are becoming increasingly painful. While companies like Apple and Microsoft have been able to pass on higher costs to consumers, small businesses have much less pricing power.
Action camera maker GoPro warned earlier this month that it could go out of business after memory costs soared 80% to 115% at the end of the first quarter. Shares of speaker maker Sonos have also fallen 23% this year as memory prices squeeze profit margins.
And finally…
From concerts to train rides, bots are winning the ticket battle, but they’re only part of the problem
Purchasing concert tickets has long been a high-stakes gamble, with popular events often selling out within minutes.
But fans are increasingly competing with automated ticket-buying programs, commonly referred to as bots, that can secure seats in seconds before reselling them at higher prices.
This distorts access not only to concert tickets but also to everyday services such as booking train tickets.
— Sydney Go
