Key Takeaways
- US-China tech tensions escalate: Intel (INTC) CEO Lip-Bu Tan is set to meet with President Trump following calls for his resignation over Chinese business ties, while Nvidia (NVDA) and AMD (AMD) will cede 15% of revenue from certain China chip sales to the US government for export licenses.
- Oil prices decline amid geopolitical talks: Crude oil extended its largest weekly drop since late June, with Brent hovering near $66 a barrel and WTI below $64, as traders anticipate a Trump-Putin meeting in Alaska that could increase Russian supply.
- Western Union expands with $500M acquisition: Western Union (WU) is set to acquire International Money Express (IMEX) for $500 million ($16/share), projecting $30 million in annual synergies and a $0.10 boost to EPS.
- Asian markets brace for inflation data: Asian stocks are poised for a muted open as investors await key U.S. inflation data and a potential extension of the August 12 U.S.-China tariff deadline.
- BHP leads carbon capture initiative: BHP (BHP) is spearheading a consortium to study large-scale carbon capture projects in Asia, aiming to reduce blast furnace emissions, with a pre-feasibility study expected to conclude in 2026.
US-China Tech Tensions Intensify with Executive Meetings and Revenue Sharing Deals
The ongoing trade and technology friction between the U.S. and China continues to dominate financial headlines. Intel (INTC) CEO Lip-Bu Tan is scheduled to visit the White House on Monday following President Trump's public call for his resignation last week, citing concerns over Tan's ties to Chinese businesses. Tan intends to defend his record and propose avenues for Intel to collaborate with the U.S. government on national security and manufacturing initiatives.
Adding to the complexity, chipmakers Nvidia (NVDA) and AMD (AMD) have reportedly agreed to remit 15% of their revenue from certain chip sales in China to the U.S. government. This unprecedented arrangement is part of a deal to secure export licenses, following recent U.S. approvals for Nvidia's H20 shipments after CEO Jensen Huang met with President Trump. The Trump administration had previously frozen the sale of some advanced chips to China earlier in 2025 as trade tensions escalated.
Oil Prices Extend Decline Ahead of Critical Trump-Putin Summit
Global oil prices have continued their downward trend, marking their steepest weekly losses since late June. Brent crude futures are hovering near $66 a barrel, while U.S. West Texas Intermediate (WTI) crude is trading below $64. This decline comes as traders closely monitor an upcoming meeting between U.S. President Donald Trump and Russian President Vladimir Putin in Alaska. Market participants anticipate that a potential Ukraine peace deal could lead to an increase in Russian oil supply, further impacting an already well-supplied market.
Western Union to Acquire International Money Express in $500 Million Deal
In corporate news, Western Union (WU) has announced its intention to acquire International Money Express (IMEX) for $500 million, valuing the latter at $16 per share. Western Union anticipates the acquisition will generate $30 million in annual synergies and provide a $0.10 boost to its earnings per share.
Asian Stocks Brace for Muted Open Amid Inflation Data and Tariff Uncertainty
Asian stock markets are set for a cautious start as investors await crucial U.S. inflation data, which could influence future interest rate expectations. Adding to the market's subdued sentiment is the looming August 12 deadline for a possible extension of U.S.-China tariffs. Traders are assessing how these economic and trade developments will impact regional markets.
BHP Leads Consortium in Asia for Large-Scale Carbon Capture Projects
Mining giant BHP (BHP) will lead a consortium comprising steelmakers and energy firms to conduct a pre-feasibility study on large-scale carbon capture projects in Asia. The initiative aims to significantly reduce emissions from blast furnaces, with the study expected to conclude in 2026. This move underscores the industry's commitment to decarbonization efforts, particularly in the carbon-intensive steel sector.
Car Group Reports Mixed FY25 Earnings, Provides Positive FY26 Outlook
Car Group reported its Fiscal Year 2025 earnings, with adjusted net income at A$377.0 million, slightly below the estimated A$377.8 million. Net income stood at A$275.5 million, missing estimates of A$294.7 million. The company declared a final dividend per share of A$0.415. Looking ahead to Fiscal Year 2026, Car Group provided a positive outlook (at constant FX), projecting adjusted net growth of +9–13%, proforma EBITDA growth of +10–13%, and proforma revenue growth of +12–14%.
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.