Key Takeaways
- US Crude Oil futures (WTI) settled at $100.30 per barrel, down 1.58% ($1.61), as markets balanced a global energy crisis against signs of easing supply disruptions in the Middle East.
- A bombshell report reveals US troop deaths in the Iran War have exceeded official Pentagon disclosures, with at least 22 to 23 fatalities recorded compared to the 18 publicly acknowledged.
- Eli Lilly (LLY) secured FDA approval for its Inluriyo-Verzenio combination therapy, which doubled progression-free survival (PFS) to 11.1 months for certain advanced breast cancer patients.
- Anthropic is targeting 5GW of compute power by year-end, supported by massive infrastructure deals with Amazon (AMZN) and Google (GOOGL) totaling over $65 billion.
- Tech titans including Nvidia’s (NVDA) Jensen Huang and Apple’s (AAPL) Tim Cook are confirmed to attend a high-stakes state dinner hosted by President Trump for Chinese President Xi Jinping.
Energy Markets and Geopolitical Conflict
US Crude Oil futures experienced a volatile session on Friday, ultimately settling at $100.30 per barrel. While prices remain elevated due to the ongoing conflict in the Middle East, the 1.58% decline reflects investor hopes that supply through the Strait of Hormuz is stabilizing. Despite the daily dip, the broader energy market remains on edge as the U.S. naval blockade of Iranian ports continues to strain global distribution.
In a significant development regarding the conflict, a report from The Washington Post indicates that the Pentagon has underreported American casualties in the Iran War. Internal data suggests at least four additional service member deaths beyond the 18 currently listed in the public Defense Casualty Analysis System. This news comes as hundreds of thousands of Iranians held massive rallies in Tehran, signaling a prolonged state of defiance against U.S. and Israeli operations.
Healthcare and Pharmaceutical Breakthroughs
Eli Lilly (LLY) achieved a major regulatory milestone as the FDA approved Inluriyo (imlunestrant) in combination with Verzenio. The treatment is designated for adults with ESR1-mutated advanced or metastatic breast cancer. Clinical data from the Phase 3 EMBER-3 trial showed the combination therapy significantly outperformed monotherapy, reducing the risk of disease progression by nearly half with a hazard ratio of 0.53.
This marks the second FDA approval for Inluriyo in under a year, reinforcing Eli Lilly’s (LLY) dominant position in oncology. The FDA also approved the Guardant360 CDx assay as a companion diagnostic to identify eligible patients, streamlining the path to treatment for those whose disease has progressed following standard endocrine therapy.
AI Infrastructure and Tech Diplomacy
The race for artificial intelligence supremacy reached new heights as Anthropic announced plans to amass 5GW of compute power by the end of 2026. This massive expansion is fueled by a $25 billion commitment from Amazon (AMZN) and a $40 billion deal with Google (GOOGL). The company’s run-rate revenue has reportedly surged to $30 billion, up from $9 billion at the end of last year, highlighting the exponential demand for enterprise AI.
Simultaneously, the intersection of technology and global diplomacy will be on full display at an upcoming state dinner for Chinese President Xi Jinping. President Trump has invited the CEOs of Nvidia (NVDA), Apple (AAPL), and OpenAI to the event. The summit is expected to address critical issues including advanced semiconductor export controls and the establishment of international AI safety standards.
Global Economic Developments
In Europe, the German government moved to curb record-high energy costs by proposing a 17 euro cent per litre reduction in gasoline taxes. The plan, which includes a €0.14 energy tax cut plus VAT adjustments, is slated to take effect as early as October 1. This intervention follows reports that diesel prices in Germany have hit a nationwide record of €2.471 per litre.
In the M&A sector, a consortium led by Advent International and FedEx (FDX) has successfully cleared the 80% ownership threshold to acquire the Polish parcel locker giant InPost. The €7.8 billion all-cash deal values InPost at €15.60 per share and is expected to close in the second half of 2026, pending final regulatory clearance from Vietnam.
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.