Finance

Global energy markets continued to experience upward pressure as ongoing hostilities in the U.S.-Iran war triggered renewed supply concerns. Brent crude futures settled above $91 a barrel, marking its highest closing level in over a month. The sustained rise in energy prices also pushed Treasury yields higher, adding to building investor anxieties regarding potential long-term inflationary pressures.

Second-quarter corporate updates produced diverging results for key industrial and healthcare players. Industrial conglomerate 3M saw its stock rally over 7% after upgrading its full-year profit projections, and General Motors also supported market sentiment with strong performance metrics. Conversely, life sciences company Danaher plummeted 11% following a downward revision to its core revenue growth outlook due to weakness in its biotechnology unit.

Macroeconomic uncertainty heightened following the implementation of a new 50% tariff on a wide range of Canadian products, including chemicals and agricultural items. The administration enacted the trade restrictions in response to alleged commercial discrimination against domestic industries. While the White House deliberately exempted Canadian oil imports from the measure, officials indicated that further tariffs against additional countries could be announced in the near future.