Good evening, you're listening to Markets Desk.
Oil markets are moving on geopolitical risk after Iran ruled out any extension of an interim nuclear deal with the United States, threatening to escalate tensions in the region. With the Strait of Hormuz back in focus, crude prices climbed as traders priced in the possibility of disrupted supply through one of the world's most critical shipping chokepoints.
Shifting to equities, a MarketWatch analysis makes the case that the stock market has become a primary engine of consumer spending in the United States. The so-called wealth effect — where rising portfolio values make households feel richer and spend more freely — has repeatedly cushioned the economy against downturns, even when disposable income data alone would have pointed toward recession.
And on the earnings side, Cava is the name drawing attention after the fast-casual Mediterranean chain reported second-quarter revenue up thirty-one point three percent year over year to three hundred sixty-five point four million dollars, with same-restaurant sales climbing nine percent on real traffic growth. Shares jumped more than ten percent, and notably, the company's CFO says price hikes are not part of the growth strategy.
That's the tape. Markets Desk, signing off the floor.
