Welcome to Markets Desk, your midday read on what's moving markets right now.
Oil is extending its rally as geopolitical risk surges back to the forefront. The United States and Iran exchanged strikes over the weekend, and traders are now pricing in the possibility of a prolonged conflict in the Middle East. Crude is climbing on supply disruption fears, with energy names leading the broader tape higher.
Shifting north of the border, Canada is rolling out tariffs of up to fifty percent on hundreds of American goods beginning today, hitting everything from cheese and honey to aluminum foil. This escalation follows President Trump's threat to shut Bombardier out of the American market, and it signals the US-Canada trade war is entering a sharper, more retaliatory phase with real consequences for cross-border supply chains.
And in brokerage news, Interactive Brokers is sitting on one hundred eighty two billion dollars in uninvested client cash as of June, up twenty seven percent from a year ago. The question now is whether a highly anticipated Anthropic IPO could pull a meaningful chunk of that idle capital off the sidelines and into equities, potentially tightening the firm's interest income cushion.
That's the tape. Markets Desk, signing off the floor.
