Key Takeaways
- xAI has integrated its Grok AI as a free add-in for Microsoft 365 (MSFT), directly challenging Microsoft's native Copilot tool within Excel, Word, and PowerPoint.
- Andy Burnham has been sworn in as the UK’s 59th Prime Minister following the resignation of Keir Starmer, triggering a major cabinet reshuffle and a 0.54% drop in the FTSE 100.
- Chevron (CVX) is halting oil production and evacuating all employees from its Petronius Gulf platform as a major storm approaches the Gulf of Mexico.
- Donald Trump has intensified pressure on House Republicans to include the SAVE America Act in the upcoming Budget Bill, emphasizing voter ID and citizenship requirements.
- Kraken has expanded its "Kraken Prop" funded-account program to include the Nasdaq 100, marking the platform's first venture into traditional equity indices.
xAI Brings Grok to Microsoft 365 Ecosystem
In a strategic move to capture enterprise market share, Elon Musk’s xAI has released Grok as a free add-in for Microsoft 365 (MSFT) users. The integration allows users to leverage Grok's real-time data processing and reasoning capabilities directly within Excel, Word, and PowerPoint.
The Excel add-in specifically enables users to write complex formulas, run scenario models, and generate charts using plain-English prompts. While the add-ins are free to download from the Microsoft Marketplace, full functionality requires an active xAI subscription (SuperGrok, Business, or Enterprise tiers). This development positions Grok as a primary competitor to Microsoft’s own Copilot, which has dominated the productivity AI space since its 2024 rollout.
UK Political Transition Triggers Market Volatility
The United Kingdom is facing significant political upheaval as Andy Burnham officially takes office as Prime Minister today, July 20, 2026. The transition follows the resignation of Keir Starmer, whose ministry concluded amid declining poll numbers and internal party pressure. The transition has already seen high-profile exits, including Liz Kendall, who resigned from the government, and former Chancellor Rachel Reeves, who reportedly turned down a new role in Burnham's cabinet.
Market reaction to the "Burnham era" has been cautious; the FTSE 100 fell 0.54% on the news, while bond investors have issued early warnings regarding the new administration's fiscal plans. Gilt yields saw a marginal uptick to 4.98% as traders weigh Burnham's pledges to bring "life's essentials" back under public control and his proposed 10-year plan for Britain.
Chevron Shuts Down Gulf Production Ahead of Storm
Chevron (CVX) has confirmed the total shutdown of its Petronius Gulf platform and the evacuation of all personnel to land. The move comes as a precautionary measure against an approaching storm in the Gulf of Mexico that threatens to disrupt regional energy infrastructure.
The Petronius platform, a critical asset located roughly 150 miles southeast of New Orleans, is one of several facilities being monitored. While Chevron (CVX) noted that production at its other Gulf assets remains at normal levels for now, the energy sector is on high alert for potential supply tightening if the storm intensifies.
Trump Pushes "SAVE America Act" in Budget Battle
Former President Donald Trump issued a statement via Truth Social today, urging House Republicans to unify behind the SAVE America Act. Trump is calling for the act—which requires proof of citizenship for voter registration—to be included in the upcoming Budget Bill.
The push targets the House Budget Committee, led by Chairman Jodey Arrington, as Republicans look to leverage the budget resolution to secure election integrity measures. Trump emphasized that the bill is a "necessary first step" and linked its passage to funding for the military and agricultural aid.
Kraken Prop Adds Nasdaq 100 Trading
Cryptocurrency exchange Kraken has announced the addition of the Nasdaq 100 to its Kraken Prop program. This marks the first time the funded-account service has offered a market outside of the digital asset space.
The new offering allows traders to access the Nasdaq 100 24/7 with no expiry or rollover fees, mirroring the "always-on" model of crypto markets. Evaluations for the program start at $20, with Kraken offering an 80–90% profit split for funded traders, signaling a broader push by the exchange to attract traditional retail and professional index traders.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.