U.S. Conducts Additional Airstrikes on Iran

The United States conducted additional airstrikes on Iran. President Trump stated the operations would continue until Iran stops attacking ships in the Strait of Hormuz and agrees to reopen the waterway. Bloomberg reported that fighting has resumed with no visible progress toward renewed talks.

Mediators from Arab states, Pakistan, and other countries have not produced public advances on negotiations or a ceasefire.

U.S. officials and three people familiar with internal estimates told Politico that total war costs could exceed three times the most recent figure of roughly $30 billion.

Nasdaq futures rose after ASML increased its annual sales forecast for the second time this year. Stripe and Advent proposed buying PayPal at more than $53 billion, a 28 percent premium to the prior close, according to Reuters. China's second-quarter GDP grew 4.3 percent, below the 4.5 percent consensus forecast.

Retail sales and industrial production in June exceeded expectations. Alibaba's Qwen AI model will be integrated into Apple Intelligence services in China.