US Treasury Secretary Scott Bessent looks on as First Lady Melania Trump (out of frame) speaks during an event to launch “Fostering the Future Accounts,” a new financial vehicle for youth in foster care, at the Treasury Building in Washington, DC, on June 11, 2026. <\/p>\n
Brendan Smialowski | AFP | Getty Images<\/p>\n
Hello, this is Justina Lee writing to you from Singapore. Welcome to another edition of CNBC’s Daily Open.<\/p>\n
Traders continue to keep an eye on the Strait of Hormuz, amid optimism that Washington and Tehran\u00a0could reach a deal to open the critical energy waterway.<\/p>\n
U.S. tech corporates’ forecasts, particularly capex guidance, are in focus with earnings underway, after SpaceX<\/a> and Advanced Micro Devices<\/a> posted a sharp rise in spending, even as earnings exceeded expectations. <\/p>\n What you need to know today<\/p>\n All eyes are on the Strait of Hormuz after U.S. Treasury Secretary Scott Bessent told CNBC that Washington and Tehran\u00a0could reach a deal to open the Strait of Hormuz by Wednesday.<\/p>\n “It would be freedom of movement,” Bessent said when asked whether Iran would be allowed to charge a toll. About 20% of the world’s oil flowed through the Hormuz Strait before the war.<\/p>\n According to the U.S. Central Command’s X post<\/a>, the southern route through the waterway remains free and open for all commercial vessels seeking to transit the international waterway.” <\/p>\n However, tensions continue to simmer between the U.S. and Iran, amid a report<\/a> that Iran claimed President\u00a0Donald Trump<\/a>\u00a0could “ignite the spark of World War 3,” after Washington cautioned Tehran<\/a> that it was its “last chance”<\/a> to make a deal.<\/p>\n U.S. stocks surged overnight<\/a>, while Asian markets were also higher<\/a> Wednesday.<\/p>\n With the earnings season underway, investors scouring through financial results looking for clues to companies’ growth outlook. <\/p>\n While SpaceX<\/a>\u00a0reported better-than-expected revenue for the second quarter in its first earnings report since its record\u00a0IPO<\/a>\u00a0in June, concerns over growing capital expenditures weighed on its its stock, which fell about 7% in extended trading. <\/p>\n Advanced Micro Devices<\/a> posted second-quarter earnings that beat expectations<\/a>, but said it spent $808 million on capital expenditure. That is a steep rise from $282 million in the year-ago period and $389 million in the March quarter. Its stock fell in extended trading after rising during regular trading hours.<\/p>\n Meanwhile, Paramount Skydance raised<\/a> its full-year profit guidance, after exceeding Wall Street expectations for revenue and reported gains in its streaming unit. <\/p>\n \u2014Justina Lee <\/p>\n And finally…<\/p>\n Europe\u2019s heatwave isn\u2019t cooling Asian travelers\u2019 holiday plans for the continent<\/p>\n As Europe endures another summer of record-breaking heat, Asian travelers continue to flock to the continent, with little sign that soaring temperatures are dampening demand.<\/p>\n The trend also reflects a broader diversification in Asian travel spending across Europe, as travelers spread their budgets across a wider range of destinations throughout the continent.\u00a0<\/p>\n Searches for European destinations by Asian travelers rose 57% year on year during the July-August travel season, with improved conversion rates from search to booking, said Edmund Ong, senior regional director, Southeast Asia at\u00a0Trip.com<\/a><\/p>\n \u2014Jenny Lee <\/p>\n