Tractor Supply cuts 2026 sales outlook after tough quarter

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[1] Tractor Supply Cuts Outlook Following Tough Quarter (https://www.wsj.com/business/earnings/tractor ...)[2] TSCO Tractor Supply Company (https://seekingalpha.com/symbol/TSCO/news ...)[3] Tesla Q2 revenue tops forecasts but profit misses (https://www.ttnews.com/articles/tesla-earning ...)[4] Big Tech Earnings Live: Alphabet Results Top Wall Street Expectations; Tesla Profit Misses Estimates as AI Spending Soars (https://www.investopedia.com/big-tech-earning ...)[5] Tesla’s Second-Quarter Revenue Surged Amid $5.8 Billion Spend in AI, Robotics (https://www.msn.com/en-us/money/companies/tes ...)

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Jul 23 2026, 15:57

Trump nears decision on Iran strike as markets sell off 2.7%

President Donald Trump is nearing a decision on a large-scale military operation against Iran, according to an Axios report, triggering a broad equity selloff that erased about $1.2 trillion in market value across U.S. indexes Tuesday. "The market is pricing in a scenario where the Strait of Hormuz becomes effectively closed for an extended period," said Helima Croft, head of global commodity strategy at RBC Capital Markets. "That's a structural shock to oil supply, not a tactical one." The Nasdaq Composite fell 2.7%, the S&P 500 dropped 1.7% and the Dow Jones Industrial Average lost 1.2%. The Cboe Volatility Index surged 22% to above 30, its highest level since the Iran war began in late February. West Texas Intermediate crude jumped 4.3% to $89.70 a barrel, while gold rose 1.8% to $2,485 an ounce as investors rotated into haven assets. A full-scale U.S. military campaign against Iran risks disrupting the Strait of Hormuz, a chokepoint that handles about 21% of global oil trade. The war has already cost $37.5 billion and claimed at least 18 American lives, with 500 service members injured, according to Pentagon data disclosed this week. Trump is seeking an additional $67 billion in emergency defense funding. **Escalation after months of attrition** The escalation comes as the administration faces mounting domestic pressure over a conflict that began Feb. 28 with U.S. airstrikes on Iranian military targets. Secretary of Defense Pete Hegseth told the Senate Appropriations Committee on Tuesday that Iran is "at its weakest point militarily in decades," even as Iranian forces continue to strike U.S. positions. Three American soldiers were killed last week in Jordan when Iranian missiles hit a U.S. base, and a fourth died in northern Iraq during a controlled detonation of an Iranian drone. Iranian Foreign Minister Abbas Araghchi said Monday that Tehran would end the war only when it has "the upper hand in the field," signaling no appetite for negotiations. The U.S. has conducted nine consecutive nights of strikes on Iranian military infrastructure, targeting air defenses, coastal surveillance sites and missile launch capabilities, according to Central Command. **Oil at the center of the risk calculus** The Strait of Hormuz has emerged as the primary flashpoint. Iran's Islamic Revolutionary Guard Corps said Sunday that two oil tankers exploded in the southern waterway and warned the corridor would remain unsafe as long as U.S. military operations continue. The Houthi rebel group in Yemen, an Iran-backed proxy, announced a naval blockade on all ships from Saudi Arabia in the Red Sea, threatening an additional oil supply route. The last time a major military confrontation threatened the Strait of Hormuz was during the Iran-Iraq tanker war in the 1980s, when crude prices more than doubled and global shipping insurance rates surged tenfold. Croft said the current risk premium in oil — about $8 to $10 a barrel — could expand rapidly if the U.S. follows through on a ground operation. **Political and fiscal toll mounts** A Washington Post-Ipsos poll found 69% of Americans disapprove of Trump's handling of the Iran conflict, with gasoline prices back above $4 a gallon nationally. House Speaker Mike Johnson told reporters this week that the war "needs to end," a sign of growing unease among Republicans ahead of the November midterm elections. The $67 billion supplemental request brings total projected war spending to more than $100 billion, a figure that has drawn scrutiny from both parties. Hegseth also asked Congress for $1.5 trillion in base defense spending for the next fiscal year, a 44% increase from the current budget. Trump has not set a timeline for his decision on a large-scale operation. The administration has argued it does not need congressional approval to expand the conflict, citing the 2001 Authorization for Use of Military Force. *This article is for informational purposes only and does not constitute investment advice.*

Jul 23 2026, 15:55

AeroVironment CEO says drone warfare enters new era with 3 key lessons

AeroVironment Chief Executive Officer Wahid Nawabi said drone warfare has entered an unprecedented era, with autonomous systems and counter-drone technology becoming central to modern combat after lessons from conflicts in Ukraine and Iran. "The changing face of warfare demands that we scale autonomous and counter-drone systems at a pace we've never seen before," Nawabi, CEO of AeroVironment, said on Fox Business's "Mornings with Maria." "The lessons from Iran and Ukraine are clear — this is no longer a future threat, it's the present reality." The conflicts in Ukraine and Iran have demonstrated the critical role of drones in modern warfare, with both state and non-state actors deploying unmanned systems for surveillance, precision strikes, and swarm tactics. AeroVironment, a leading US manufacturer of unmanned aircraft systems, has seen increased demand for its Switchblade loitering munitions and Puma small unmanned aircraft systems as defense budgets shift toward autonomous capabilities. The company's stock has gained more than 40% over the past 12 months as the Pentagon accelerates procurement of drone and counter-drone systems. The shift carries significant implications for defense spending. Global military expenditure reached $2.44 trillion in 2025, with drone and counter-drone systems representing one of the fastest-growing segments. The US Department of Defense has allocated more than $1 billion annually for counter-unmanned aircraft systems programs, a figure analysts expect to grow as threats from inexpensive commercial drones proliferate on battlefields. The Ukraine conflict has been a proving ground for drone warfare, with both sides deploying thousands of unmanned systems monthly. First-person-view drones have become a staple of frontline combat, while longer-range strike drones have targeted infrastructure deep behind enemy lines. Iran has meanwhile supplied drones to Russia and developed its own advanced unmanned capabilities, demonstrating how drone technology has become a strategic equalizer for nations with limited conventional air power. **Lessons From the Battlefield** The proliferation of cheap, commercially available drones has created a new category of threat that traditional air defense systems were not designed to counter. A single FPV drone can cost as little as $500, while the missile used to intercept it can cost millions — an economic asymmetry that has driven demand for directed-energy weapons and electronic warfare solutions. AeroVironment's counter-drone portfolio includes radio-frequency sensors and kinetic interceptors designed to address this cost imbalance. The last major shift in defense procurement toward unmanned systems occurred after the 2001 Afghanistan invasion, when Predator drones became central to US counterterrorism operations. The current transition is broader in scope, encompassing everything from small tactical drones to AI-enabled autonomous swarms, and involves a wider range of contractors including Kratos Defense & Security Solutions and General Atomics. For investors, the shift represents a structural growth opportunity in defense technology. The global counter-drone market alone is projected to reach $6.5 billion by 2030, growing at a compound annual rate of more than 25%, according to industry estimates. Companies with exposure to autonomous systems, electronic warfare, and directed energy — including AeroVironment, Kratos, and RTX — stand to benefit as the Pentagon prioritizes these capabilities in its budget. The US defense budget for fiscal 2027, currently under negotiation, is expected to include significant increases for drone and counter-drone programs. Nawabi's comments suggest AeroVironment is positioning to capture a larger share of that spending as the military shifts from traditional platforms to autonomous systems. This article is for informational purposes only and does not constitute investment advice.

Jul 23 2026, 15:53

ECB holds rates as Lagarde warns inflation above target until 2027

**The European Central Bank held interest rates steady on Thursday but warned that surging energy prices from the Middle East conflict will keep euro-area inflation above its 2% target through the first half of 2027.** The European Central Bank held its deposit rate at 2.25% on Thursday, warning that the energy shock from escalating Middle East hostilities will keep inflation above target until the first half of 2027. "The outlook for energy prices, while highly volatile, currently stands close to the baseline of the June projections and well above levels recorded prior to the conflict," ECB President Christine Lagarde said at her post-decision press conference in Frankfurt. The decision was unanimous, though Lagarde acknowledged some Governing Council members questioned whether a rate increase was warranted. The ECB's risk assessment reverted to its June baseline, removing the "more balanced" language from its Sintra meeting, as Brent crude surged past $98 a barrel on renewed US-Iran hostilities. With oil prices approaching $100 and the ECB's September meeting featuring updated staff projections, markets are now pricing in 48 basis points of additional tightening by year-end. Lagarde confirmed she has ordered staff to prepare an in-depth analysis of oil and gas price scenarios for the September decision. The ECB raised rates by 25 basis points in June, its first increase since the conflict began, directly informed by the same energy price analysis Lagarde cited Thursday. The last time the ECB held rates with this risk-assessment language was in April, preceding the June hike. Overnight index swaps now price a September increase as more likely than not, with traders assigning a 36% probability of a Fed hike next week as well. The euro dropped 0.4% against the dollar to $1.1370 following the announcement, while the single currency was flat against the pound at 0.8538 pence. Brent crude extended gains to trade at $98.90 a barrel, up 4.2% on the day, after Yemen's Houthis targeted two oil tankers in the Red Sea and US strikes on Iran continued overnight. Lagarde said the ECB has not yet observed second-round effects from the energy shock, with wage growth trending lower and medium-term inflation expectations remaining anchored. But she expressed concern about the risk, noting that companies plan to increase selling prices as input costs rise. "Uncertainty remains high and the full inflationary impact of the energy shock has yet to play out," the ECB's statement said. The Governing Council "is therefore closely monitoring the intensity and duration of the shock, as well as its indirect and second-round effects." **How September Could Deliver 48bps of Tightening** The September meeting is shaping up as the ECB's next consequential decision point. Lagarde said the council will receive two monthly inflation prints, second-quarter GDP data, two consumer expectations indices, a compensation index and two PMI readings before deciding. "We'll receive all this data and analyze it very carefully," she said. The ECB's updated staff projections will incorporate 2026 estimates, giving policymakers a clearer read on whether the adverse energy scenario — which could push euro-area inflation to between 3.5% and 4.4% — is materializing. On her own future, Lagarde dismissed speculation about an early departure. "You won't see me go until 2027," she said, adding that "when there are clouds on the horizon, the captain stays on the ship." The comments follow weeks of market chatter about her potential return to French politics, with about one-third of economists surveyed by Bloomberg predicting she would not complete her eight-year term. This article is for informational purposes only and does not constitute investment advice.