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Iranian Foreign Ministry Spokesperson: The understanding between Iran and Oman regarding the new shipping route does not imply the opening or closure of the Strait of Hormuz.

2026-08-03

Iranian Foreign Ministry Spokesperson: The understanding between Iran and Oman regarding the new shipping route does not imply the opening or closure of the Strait of Hormuz.

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2026-08-03

Qatar's Ministry of Foreign Affairs: The Prime Minister and Foreign Minister discussed efforts to ease tensions in the region during a phone call with the Egyptian Foreign Minister. The Prime Minister and Foreign Minister emphasized that all parties

Qatar's Ministry of Foreign Affairs: The Prime Minister and Foreign Minister discussed efforts to ease tensions in the region during a phone call with the Egyptian Foreign Minister. The Prime Minister and Foreign Minister emphasized that all parties must adhere to dialogue and ensure freedom of navigation in the Strait of Hormuz.
2026-08-02

Valueworks Chief Investment Officer Charles Lemonides said he wouldn't be surprised if chip stocks rebounded strongly after this sell-off, but he doesn't think they're likely to lead the next phase of the bull market because they've already had their

Valueworks Chief Investment Officer Charles Lemonides said he wouldn't be surprised if chip stocks rebounded strongly after this sell-off, but he doesn't think they're likely to lead the next phase of the bull market because they've already had their moment. Last week, Amazon and Microsoft reiterated their commitment to invest hundreds of billions of dollars in AI alone over the next year, with most of that specifically earmarked for manufacturers of chips for data centers. But the problem is that the fundamentals are being questioned. Chip stocks, especially those focused on memory chips, are known for their cyclicality, often experiencing booms and busts due to fluctuating demand. Many on Wall Street remain convinced this cycle will be no exception. Valueworks' Lemonides said the profit explosion we're seeing is unsustainable. The bigger question is whether profit margins can be sustained; with profit margins so far out of historical norms, there's reason to expect a return to normal levels. The question is when, and how the stock market will react.
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