🚀 Intel expands stock offering

Market Overview
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Year To Date Performances:

1. U.S. oil prices hovered around $82 per barrel as financial markets processed conflicting reports regarding a potential arrangement between the U.S. and Iran to stabilize shipping through the Strait of Hormuz. West Texas Intermediate futures pulled back from early gains of up to 3% after Pakistan’s Defense Minister indicated the two nations were nearing an agreement, offsetting earlier upward pressure fueled by President Donald Trump's demands for Iranian reparations and data showing U.S. crude stockpiles at four-decade lows. However, with both Washington and Tehran demanding reparations for alleged damages, strategists at ING caution that a finalized deal remains distant, leaving oil markets vulnerable to ongoing headline-driven volatility.

2. Intel upsized its common stock offering to $20 billion USD at $95 USD per share, up from its initial $15 billion USD plan announced a day prior, to raise roughly $19.7 billion USD in net proceeds for general corporate purposes, capital expenditures, and working capital. The expanded sale, scheduled to close today, aims to meet accelerating global demand for artificial intelligence infrastructure, particularly in physical AI, custom silicon, and advanced packaging. The announcement includes a 30-day underwriter option for an additional $2.25 billion USD in shares and follows Intel's recent capex target increase to $20 billion USD to expand factory tooling amid an industry-wide AI spending surge estimated by Goldman Sachs to reach $765 billion USD in 2026.

3. InterContinental Hotels Group (IHG) reported a 10% increase in first-half operating profits to $665 million USD and a 7% rise in revenue to $1.3 billion USD, driven by an expanding global middle class prioritizing experience-based travel over consumer goods. While second-quarter revenue per available room (RevPAR) growth slowed to 3.5%—down from 4.4% in the first quarter due to travel disruptions and flight cancellations from the conflict in the Middle East—IHG's globally diversified portfolio successfully mitigated regional losses. Accelerated travel demand across the U.S., Asia Pacific, and Europe, bolstered by major live events such as the World Cup, offset the Middle East downturn (which accounts for roughly 5% of IHG's total footprint), keeping global RevPAR growth for the six-month period at 4.1%.

   Headlines

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