Macquarie initiates coverage of SpaceX (SPCX.O), assigns Outperform rating and sets PT at $250.

Five sources said Saudi Arabia is weighing an expansion of its east–west pipeline to the Red Sea west coast to enable Saudi and neighboring crude shipments without transiting the Strait of Hormuz. The pipeline, built in the early 1980s, can deliver up to 7.0 mln bpd to Yanbu; Aramco told investors in May roughly 2.0 mln bpd supplies west‑coast refineries and about 5.0 mln bpd is for export. Sources said Riyadh has held preliminary talks with some neighbours on boosting capacity by about 1.0–2.0 mln bpd, and that plans may include a smaller products line. It is unclear whether expansion would be an upgrade or a newbuild. One source said the project would take several years, cost billions of dollars and could require adjustments to Saudi crude pricing mechanisms.

The 2026 World Artificial Intelligence Conference and High-Level Conference on Global Governance of AI will be held in Shanghai July 17-20 under the theme Intelligent partners co-creating the future. The program covers forums, exhibitions, awards and competitions, application showcases, innovation incubation and talent recruitment; organizers say preparations have entered the final sprint.