Hackers Target Hedge Funds, Iran Says Deal Reached with Oman | The Opening Trade 8/6/2026

Summary

The episode focuses on an Iran‑Oman deal to reopen the Strait of Hormuz, easing oil and supporting European equities, while weak Sandisk guidance weighs on chip stocks. Softbank beats profit estimates but raises circular debt concerns. Guests discuss European fiscal‑driven broadening, UK defense spending, a weaker dollar favor EM currencies, a bullish gold view on Fed credibility, and a strong US earnings case for staying long equities.

• Iran and Oman finalising a temporary shipping route deal through the Strait of Hormuz, pressuring oil below $80.
• Sandisk and Western Digital weak guidance hits Samsung, SK Hynix and Asia tech, raising near‑term AI demand worries.
• Softbank beats profit estimates but Vision Fund borrowing against its OpenAI stake raises circular funding questions.
• Wisdom Tree’s Aneeka sees European equity broadening from multi‑year fiscal stimulus and is buying UK defense on higher spending.
• Citi’s Luis Costa expects Brent crude to decline to $60, sees EUR/USD upside with the Fed on hold, and is actively buying Egypt and Turkey.
• Bloomberg’s Mark Cudmore turns bullish on gold after the Fed’s credibility question lowers real yield expectations.
• J.P. Morgan Private Bank’s Erik favours long US equities, citing seven quarters of double‑digit earnings growth and reasonable valuations.
• SpaceX multi‑stage lockup unlocks 900M shares; uncertainty over selling pressure but the structure may be replicated by future mega‑IPOs.