TLDR
- Bitcoin fell as U.S.-Iran peace talks stalled, pushing investors away from risky assets
- Dow futures slid while S&P 500 and Nasdaq held near flat ahead of Wednesday’s inflation data
- Anthropic signed a $9.1 billion cloud computing deal with Riot Platforms, sending Riot shares up 20% after hours
- Intel raised $20 billion from an upsized stock offering priced at $95 per share
- Oil climbed with Brent crude rising 1.8% to $89.34 a barrel as the Strait of Hormuz remains closed
U.S. stock futures were mostly flat on Tuesday as investors waited for key inflation data and tracked developments in the Middle East.
Dow Jones futures slipped 64 points, or 0.1%. S&P 500 futures traded near unchanged, and Nasdaq 100 futures edged up slightly.
The main Wall Street indexes fell on Monday after oil prices climbed again. The Strait of Hormuz remains effectively closed, disrupting global oil supplies.
West Texas Intermediate crude rose 2.1% to $83.88 a barrel. Brent crude, the global benchmark, climbed 1.8% to $89.34.
President Trump rejected fresh demands from Iran over the weekend. Tehran had asked Washington to pay war reparations as a condition for reopening the strait. Trump dismissed this as a new demand not previously raised by Iranian negotiators.
The standoff is raising concerns about energy-driven inflation. The 10-year Treasury yield rose to 4.73% as traders bet the Federal Reserve could hike rates if oil prices stay high.
Wednesday’s consumer price index report will be closely watched. Trading volume remained thin with many institutional investors on summer vacation.
Bitcoin fell in line with broader risk-off sentiment. The U.S.-Iran impasse has pushed investors away from cryptocurrencies and other higher-risk assets.
Riot Platforms Surges on Anthropic Cloud Deal
Anthropic signed a $9.1 billion long-term cloud computing deal with Riot Platforms, according to Bloomberg News. Riot shares jumped more than 20% in after-hours trading.
The deal covers 191 megawatts of computing capacity at Riot’s Rockdale, Texas campus and runs through June 2048. Two five-year extension options could push total revenue to $16.1 billion.
Riot had disclosed the agreement earlier in the day without naming the customer. Bloomberg later identified Anthropic as the company behind the contract.
Intel raised $20 billion from a stock offering, more than the $15 billion it initially targeted. The offering was priced at $95 per share, a 2.6% discount to its previous close.
The company sold 210.5 million shares, with underwriters given the option to buy up to 31.6 million more. Intel said proceeds would go toward general corporate purposes, including manufacturing expansion.
Intel shares fell over 4% on the news. The stock has climbed sharply this year as the company ramps up spending to compete with rivals like TSMC.
Nvidia also fell more than 2% after confirming a deal with major financial firms including Apollo, BlackRock, Goldman Sachs and KKR. The agreement aims to mobilize over $500 billion in third-party capital for AI infrastructure.
Australia’s central bank held its benchmark rate at 4.35%, citing signs of cooling inflation. The Reserve Bank of Australia warned that price pressures remained high and pointed to fuel costs tied to the Iran conflict as a near-term concern.
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