Citigroup raises Western Digital (WDC.O) PT to $800 from $685.

On Monday the Baltic Dry Index rose 16 points, or 0.54%, to 2,960 — its highest level since early June — led by gains in capesize and supramax freight. The capesize index (BCI) gained 47 points, or 1%, to 4,702, a more-than-one-month high; capesize average daily earnings rose $427 to $39,138. The panamax index (BPI) slipped 3 points, or 0.1%, to 2,250; panamax daily earnings fell $19 to $20,254. The supramax index (BSI) ticked up 1 point to 1,707, its highest since June 22. The handysize index (BHSI) eased 1 point to 914.

The Islamic Revolutionary Guard Corps said that, as it downgraded the US's ostensible objective at the start of US aggression to "reopening the Strait of Hormuz", it will respond to new hostile US actions by shaming and frustrating the US more than before and inflicting unprecedented humiliation.