Iran Strikes Kuwait in Worst Attack Since June | Horizons Middle East & Africa 7/15/2026

Summary

The episode covers Trump dropping a Strait of Hormuz transit fee after Gulf allies' pushback while US-Iran tensions escalate with fresh strikes. Markets rally on softer US CPI, pushing rate hike bets out, with Asian equities led by South Korea's KOSPI and SK Hynix on AI optimism. China's GDP hits a three-year low, bank earnings shatter records, and corporate news includes a Stripe-led bid for PayPal and IBM's revenue miss.

• Trump backs away from a 20% Hormuz shipping fee after Gulf allies urged him to, but US military pressure on Iran intensifies.
• US consumer prices fell for the first time since 2020, cooling rate hike expectations and pushing the next possible hike to September/October.
• Asian stocks rise, led by a 7% surge in South Korea's KOSPI; SK Hynix jumps 9% on AI-driven chip demand.
• China's Q2 GDP growth slows more than expected to its weakest in over three years amid weak domestic demand and property market weakness.
• Wall Street banks post record trading revenues from equity desks, with Goldman Sachs setting a new industry high.
• Stripe and Advent reportedly make a $53 billion offer for PayPal at a 28% premium, backed by bank financing.
• IBM shares suffer their biggest drop in nearly six decades after second-quarter revenue missed estimates.
• Fed Chair Kevin Warsh testifies with a hawkish tone, stressing commitment to 2% inflation target despite the soft CPI print.