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August 28, 2026

Friday, August 28, 2026: Hormuz Toll Chokes Oil Flows as WTI Nears $130

The Daily Briefing · Friday, August 28, 2026
Hormuz Toll Chokes Oil Flows as WTI Nears $130
Hormuz Toll Chokes Oil Flows as WTI Nears $130
Daily tanker transits through the Strait of Hormuz have fallen from roughly 130 to fewer than 15 since Iran imposed its $1 million per, vessel toll in 2026.
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Also today
SK Hynix Breaks Ground on $4B Indiana HBM Plant
SK Hynix Breaks Ground on $4B Indiana HBM Plant
SK Hynix (SKHY) broke ground August 27 at Purdue Research Park on a 133.5, acre advanced packaging facility funded in part by $458 million in CHIPS Act grants.
Warsh's Jackson Hole Shock Sends Rate, Hike Odds to 56%
Warsh's Jackson Hole Shock Sends Rate, Hike Odds to 56%
Warsh declared he is "committed to a discipline, not a decision," dismissing this summer's improved inflation data as insufficient proof of lasting progress.
Gold's 14% August Surge Is Biggest Monthly Gain Since 1999
Gold's 14% August Surge Is Biggest Monthly Gain Since 1999
Gold rose approximately 14% in August 2026 to near $4,674/oz from roughly $4,000, its biggest monthly gain since 1999
Meta's $6.7B Settlement Reshapes Social Media
Meta's $6.7B Settlement Reshapes Social Media
Meta (META) will pay up to $6.7 billion to resolve federal claims by 29 state attorneys general over social media harm to minors.
Apple CEO Cook Yields to Ternus in Sept. Handoff
Apple CEO Cook Yields to Ternus in Sept. Handoff
John Ternus, architect of Apple Silicon, assumes the AAPL chief executive role effective September 1, 2026.
Nvidia's $2.9B Hugging Face Deal Raises Monopoly Alarm
Nvidia's $2.9B Hugging Face Deal Raises Monopoly Alarm
Nvidia (NVDA) will pay $2.9 billion for Hugging Face, surpassing all prior acquisitions by the company.
More headlines
Canada Declares Economic War on Washington
Washington imposed 50% tariffs on $20 billion in Canadian goods after negotiations unraveled Friday; Canada's matching measures activate Sept. 8.
Warsh Opens Jackson Hole With Rate Stakes High
Core PCE inflation at 3.3% and headline PCE at 3.7% leave the Fed's price mandate unfinished ahead of Warsh's first major speech
CrowdStrike's Best Day Ever: AI Agents Drive Record Q2
CRWD jumped 20% on August 27, the largest single, session gain in company history, closing at $227.96 after touching an intraday high of $229.08.
Gap (GPS) Jumps 13.8% as Profit Beat Raises EPS Outlook
Adjusted EPS of $0.52 beat the $0.48 Wall Street consensus; diluted EPS reached $1.38, lifted by a $417 million IEEPA tariff refund
Okta Surges 28% in Best Session in Years After Q2 Beat
OKTA closed at $172.91, up 28.9% Thursday, its largest single, day advance in years, on Q2 EPS of $1.05 vs. the $0.96 consensus.
PayPal Drops 15% as Advent, Stripe Bid Collapses
PayPal (PYPL) fell more than 15% after the Advent, Stripe consortium withdrew its $3 billion acquisition offer without submitting a revised bid.
Nvidia Q2 Blowout Fires Sharpest Chip Rally in Weeks
Nvidia reported Q2 FY2027 revenue of $96.22B, $4.05B above consensus, with adjusted EPS of $2.22 beating the $2.10 estimate.
Consumer Confidence Falls to 89.4, Lowest Since January
The Conference Board's August index fell to 89.4, down from a revised 93.1 in July, missing the consensus estimate of 92.0.
IBM Mainframe Chip Runs Arm and Z Code Natively
IBM's 2nm, 11, core Hot Chips processor simultaneously executes Arm and IBM Z instructions natively on every core, without emulation.
Salesforce CRM Surges 23% on Anthropic Gain, Claudeforce
Adjusted EPS of $5.90 crushed the $3.27 consensus by 80%, with $2.53 of that figure derived from a mark, to, market gain on Salesforce's Anthropic equity stake.
HRL Plunges 9% on Q3 Revenue Miss and Forecast Cut
HRL fell 9.1% to $21.57, one of the steepest one, day drops for the consumer staples name in recent memory.
HP Inc. Q3: PC Shipments Sink 16% Despite Revenue Record
HP Inc. (HPQ) shares tumbled 7% on August 27 after Q3 fiscal 2026 results showed PC unit shipments fell 16% year, over, year, unsettling investors despite a headline revenue beat.
Burlington BURL Beats Q2, Lifts FY2026 Guidance
Q2 adjusted EPS of $0.37 cleared the $0.19 consensus by 95%, marking one of Burlington's widest beats in recent quarters.
VEEV Surges 18% as Q2 FY2027 Earnings Crush Forecasts
VEEV shares rallied 17, 19% after Q2 FY2027 revenue of $728M beat the $705M consensus estimate.
From the startup desk
DAZN Buys EverPass, Wins NFL Sunday Ticket Venues
EverPass Media (US) is acquired by UK sports streaming giant DAZN — EverPass holds exclusive NFL Sunday Ticket commercial venue distribution rights — rebranding as DAZN for Business, with RedBird Capital Partners, 32 Equity, and TKO Group becoming DAZN minority shareholders.
Valar Atomics Raises $1B Series B at $6B Valuation
Volta is already listed above — replacing with: General Intuition is already listed — so as #15: Velatir is already listed — let me use a remaining story.
AusperBio Closes $120M Series C for Hepatitis B Drug
AusperBio (US) closes a $120M Series C bringing total raised to $360M — the San Jose-based biotech is advancing its lead hepatitis B therapy AHB-137 into a Phase 3 registrational trial toward a potential functional cure for chronic HBV.
Video of the day
Money: The World's Oldest Memory
Money: The World's Oldest Memory
The Daily Briefing from Pomegra. Market news, educational content only. Nothing here is investment advice.
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