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Bloomberg This Weekend | Sen. Lindsey Graham Dead, CENTCOM Launches Strikes on Iran

Watch on YouTube ↗  |  July 12, 2026 at 17:39  |  2:28:55  |  Bloomberg Markets
Speakers
Mike McGlone — Senior Commodity Strategist, Bloomberg Intelligence
Caleb Silver — Editor-in-Chief, Investopedia
Martha Gimbel — Executive Director & Co-Founder, The Budget Lab at Yale
Rep. Greg Stanton — Representative, Arizona

Summary

This episode covers breaking news of Senator Lindsey Graham's death, escalating US-Iran strikes over the Strait of Hormuz, and the NATO summit tone. Market-focused segments include a bullish preview of large US bank earnings, a bearish crude oil call by Mike McGlone, and cautious discussions on Netflix's transformation and AI's limited role in addressing demographic decline.

  • Senator Lindsey Graham dies unexpectedly at 71, leaving a void in Republican foreign policy leadership.
  • US and Iran exchange strikes; Iran declares the Strait of Hormuz closed while the US says it remains open.
  • Admiral Daryl Caudle discusses naval unmanned capabilities and the real mine threat in the Strait.
  • Five largest US banks to report earnings; Herman expects strong results driven by trading, IB, and lending.
  • Mike McGlone sees crude oil falling to $40-$50 by year-end on rising supply and political pressure for lower energy prices.
  • Caleb Silver reviews Netflix's pivot to advertising and short-form content amid an identity crisis.
  • Martha Gimbel argues AI is not a panacea for aging workforce challenges.
  • Cuba's Raul Castro grandson expresses openness to reforms and negotiations with the Trump administration.
Ideas
Herman 73:02
Strong bank earnings expected this quarter.
US large banks are expected to report strong Q2 earnings with growth across trading, investment banking, and commercial lending. Robust M&A and IPO activity, including SpaceX, should boost bottom lines. Fundamentals remain solid despite macro uncertainty and private credit concerns.
US Large Banks MED
Mike McGlone Senior Commodity Strategist, Bloomberg Intelligence 88:48
Crude oil heading to $40-$50.
Crude oil prices are likely to fall to $40-$50/barrel by year-end. Rising Western Hemisphere supply, declining global demand, the shift of pricing power away from OPEC, and President Trump's need for lower energy prices ahead of the midterms will all push crude lower. The current conflict in Iran is not enough to sustainably hold prices above $80.
WTI HIGH
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This Bloomberg Markets video, published July 12, 2026, features Herman, Mike McGlone discussing US Large Banks, WTI. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Herman, Mike McGlone  · Tickers: US Large Banks, WTI