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BRICS Summit in Rio Highlights Global South's Push for Multipolarity

The 17th BRICS Summit in Rio de Janeiro highlighted the bloc's ambition to reshape global economic dynamics, with leaders from Brazil, India, and South Africa advocating for reforms in global governance and stronger support for the Global South. Despite the absence of China’s Xi Jinping and Russia’s Vladimir Putin, the summit marked a strategic expansion with six new members joining: Egypt, Ethiopia, Iran, the UAE, Indonesia, and Saudi Arabia. Discussions focused on reducing reliance on Western-led financial systems, promoting trade in local currencies, and developing alternative payment platforms, all of which could challenge the dominance of the U.S. dollar and alter global capital flows. For investors, these developments underscore the growing importance of emerging markets and the potential for longer-term shifts in economic and geopolitical alignments.

OPEC+ Accelerates Output Hike Amid Market Share Push

OPEC+ has announced a larger-than-expected oil production $USO ( ▼ 0.48% ) increase of 548,000 barrels per day for August 2025, exceeding the anticipated 411,000 bpd. This move, driven by key members such as Saudi Arabia, Russia, and the UAE, signals a strategic shift to reclaim market share in response to rising output from non-OPEC countries and weakening global demand.

The increase coincides with the phase-out of 2.2 million bpd in voluntary cuts that were initially introduced to support prices. With Brent crude trading near $67 per barrel and additional supply from the U.S., Brazil, and Canada entering the market, analysts warn that oil prices may face downward pressure in the coming months. Morgan Stanley forecasts Brent could fall to $60 per barrel by early 2026 due to ample global supply and easing geopolitical tensions. While prices have dipped in the short term, the longer-term market impact will depend on demand recovery and broader geopolitical developments. Investors should keep a close eye on energy markets as these changes could reshape pricing dynamics and sector performance.

Tesla Shares Tumble as Elon Musk Launches New Political Party

Tesla shares $TSLA ( ▼ 1.93% ) fell during premarket trading on Monday, dropping from $315.35 to approximately $292.60, following CEO Elon Musk's announcement of a new political party, the "America Party." This move has intensified Musk's public feud with President Donald Trump, who criticized the initiative and suggested it could lead to the elimination of electric vehicle subsidies. Analysts, including Dan Ives from Wedbush Securities, have expressed concerns that Musk's political involvement may distract from Tesla's core business operations, especially as the company faces a 13% year-over-year decline in vehicle deliveries and increasing competition in the electric vehicle market. The political developments add to existing investor apprehensions about Tesla's performance and strategic direction.

Company Highlights

NuScale Power Corporation

NuScale Power $SMR ( ▲ 2.04% ) develops proprietary small modular reactor (SMR) nuclear technology through its NuScale Power Module, which generates 77 MWe and can scale up to 924 MWe. Alongside reactor sales, the company offers a full suite of services including licensing, fuel supply, training, and project management for government, utility, and industrial clients globally.

For Q1 2025, revenue rose from $1.4M to $13.4M due to increased product demand, while net loss narrowed 15% to $14M. Reduced financial investment losses and a 31% drop in R&D expenses to $9.1M contributed to the improved bottom line.

NuScale has pulled back from its recent high near $44 to around $36, approaching the lower Bollinger Band at $34.59, which may act as short-term support. The MACD is trending lower below the signal line, indicating fading bullish momentum, while the RSI at 44.15 suggests mild bearishness without reaching oversold territory. Volume remains steady, but not strong enough to signal a reversal just yet. Investors should watch the $34–$35 zone closely; a bounce from this level could offer a short-term opportunity, especially if momentum begins to turn. However, a breakdown below this range may indicate deeper consolidation, with downside risk toward $30. Patience may be prudent here as momentum stabilizes and the broader trend direction clarifies.

Most Anticipated Earning Releases - July

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