Welcome back to Markets Desk, where we keep you ahead of the tape.
Houthi forces have escalated attacks on commercial shipping in the southern Red Sea, deploying missiles and drones against vessels transiting the Bab el-Mandeb strait. The threat is significant — that chokepoint handles millions of barrels per day of Saudi crude exports, and any sustained disruption would ripple immediately through oil markets and global supply chains.
Turning to earnings, Conagra reported its fourth quarter results for fiscal two thousand twenty six, with the packaged foods giant navigating persistent consumer pressure on branded goods. Volumes remain a watch point as shoppers trade down, and management's forward guidance will be the real signal for where consumer staples pricing power stands heading into the back half of the year.
PNC Financial also posted second quarter two thousand twenty six earnings, drawing close attention from investors parsing the health of regional banking. Net interest income and credit quality are the two dials the street is watching most carefully, particularly as the Fed's rate trajectory keeps deposit costs and loan demand in a delicate balance for mid-sized lenders.
That's the tape. Markets Desk, signing off the floor.
