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French President Emmanuel Macron called on Iran to respect the agreement reached with the United States and reopen the Strait of Hormuz.

2026-07-17

French President Emmanuel Macron called on Iran to respect the agreement reached with the United States and reopen the Strait of Hormuz.

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2026-07-17

The Nasdaq's losses quickly widened to 2% in early trading.

The Nasdaq's losses quickly widened to 2% in early trading.
2026-07-17

Oxbow Advisors founder Ted Oakley warned US equities could decline at least 40% — and possibly more — in a 'generation-level' bear that could last one to two years. He said valuations sit about three standard deviations above normal and that mean rev

Oxbow Advisors founder Ted Oakley warned US equities could decline at least 40% — and possibly more — in a 'generation-level' bear that could last one to two years. He said valuations sit about three standard deviations above normal and that mean reversion would require a 40–45% drop; chasing a final 6–8% upside now carries roughly 25% downside risk. Oakley flagged semiconductor concentration risk (10–12 names account for roughly half the market) and used Intel's multi-decade recovery after 1999 as a caution against late-cycle buying. Oxbow's equity exposure is slightly above 60% across 45 stocks, with the remainder in short-term Treasures. The firm is overweight energy and commodities — Oakley said he would be surprised if oil does not return above $100, arguing production-side disruption is worse than widely recognized — and expects gold, miners and silver to rebound next year as momentum unwinds. CIO Chance Finucane said the firm is cautious on 2027 because next year will face a high 1H base, which could slow growth and produce disinflation that is not supportive for risk assets.
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