Good morning and welcome to Markets Desk, your opening bell briefing.
U.S. stock futures are holding flat this Sunday as two forces keep investors cautious. Fresh demands from Iran are casting serious doubt on any near-term reopening of the Strait of Hormuz, while traders are also positioning carefully ahead of key inflation data due later this week.
Turning to earnings, Berkshire Hathaway posted a strong second quarter, with operating earnings climbing sixteen percent year over year to thirteen billion dollars. Worth noting, though, is that one point two billion of that one point eight billion gain came purely from currency swings, meaning the underlying business improvement, while real, was meaningfully flattered by the dollar's moves.
And on the broader market, S&P five hundred revenue growth has hit a nearly five-year high, with energy companies leading the charge, posting a remarkable forty-two point five percent revenue gain in the second quarter. That kind of top-line momentum across the index suggests demand conditions remain more resilient than many had expected given the rate environment.
That's the tape. Markets Desk, signing off the floor.
