Good afternoon and welcome to Markets Desk.
In energy markets, crude oil edged higher Friday as Middle East tensions kept a floor under prices, with October WTI settling up roughly a quarter percent. Gasoline outperformed, posting a three-and-a-half week high, up more than one percent, as supply concerns and geopolitical risk premiums held firm.
Shifting to Asia, Taiwan is tracking its first double-digit GDP growth year since two thousand ten, driven by surging AI hardware exports. Japan, Malaysia, Singapore, and mainland China all reported export growth north of twenty percent in July. The concern, though, is that for Southeast Asia, the AI-driven windfall may prove short-lived, with analysts warning the region risks being bypassed as supply chains consolidate around established chipmaking hubs.
Meanwhile, Disney is trimming medical coverage for employees whose spouses have access to insurance through their own employers. The move reflects a broader corporate pivot as healthcare costs are projected to rise sharply heading into next year. Deloitte and other major firms are making similar cuts, signaling that benefits compression is becoming a mainstream response to mounting employer cost pressure.
That's the tape. Markets Desk, signing off the floor.
