A car with replicas of missiles and an image of Iran’s new Supreme Leader Mojtaba Khamenei (R), and late Supreme Leaders Ruhollah Jomeini (L), Ali Khamenei (C) during a gathering to commemorate the death of Imam Reza on August 12, 2026 in Tehran, Iran.
Getty Images
Hello, this is Hui Jie writing to you from Singapore. Welcome to another edition of CNBC’s Daily Open.
Chinese strategist Sun Tzu said that «the supreme art of war is to subdue the enemy without fighting.»
U.S. President Donald Trump seems to differ, threatening to fight everyone at the same time. While Trump wants a free Strait of Hormuz, he has now warned that Oman — which also borders the critical waterway — could face military action.
What you need to know today
The U.S.-Iran conflict is into its sixth month, and despite several promises of a deal and start-stop negotiations, the war in the Middle East now threatens to restart and drag more countries into its fold.
On Monday stateside, U.S. President Donald Trump threatened to «bomb the s— out of» Oman if the Gulf nation «gets in the way.» Oman has reportedly been working with Iran on a plan to define transit routes for shipping in the Strait of Hormuz.
When asked again about Oman, Trump said the longtime U.S. strategic ally hasn’t «behaved very well.»
That statement comes as a ceasefire deal that was agreed between Washington and Tehran in June expires Monday stateside, with neither country showing any inclination to extend the deal.
«No,» Trump said when asked if he would seek an extension of that temporary truce, while a senior Iranian official told Reuters that Tehran would shift to offense rather than relying on defense if diplomacy with the U.S. fails.
Markets were expectedly spooked by the development, with oil prices climbing once again. International benchmark Brent rose 2.7% to settle at $90.87 Monday, while U.S. West Texas Intermediate futures gained 2.6% to close at $84.50 per barrel. Oil was higher early Tuesday in Asia trading.
All three major U.S. indexes also lost ground, with the broad market S&P 500 slipping 0.5%, while the Nasdaq Composite fell 0.32% and the Dow Jones Industrial Average shed 0.51%. Asia markets opened mixed Tuesday.
Tech deals and lawsuits
Chip giant Nvidia will provide up to $105 billion in financing for a new artificial intelligence data center for OpenAI in Ohio, a securities filing revealed on Monday.
The credit will support an initial 4.25 gigawatts of computing capacity with the option for an additional 3.75 gigawatts. Nvidia will provide the compute, with capacity expected to come online in phases in 2028.
The deal is Nvidia’s latest in a string of financing maneuvers to support the sprawling AI data center buildout, despite concerns over circular financing in the AI trade.
Moving from the boardroom to the courtroom, social media heavyweight Meta could face «astronomical» consequences as the company faces a lawsuit in California, following a litany of allegations that the company fostered addictive behavior in teens and children.
Industry experts are calling it social media’s «Big Tobacco» moment, with Meta as the centerpiece.
The term refers to when tobacco companies in the 1990s were forced to pay billions of dollars for misleading the public about the safety and potential harms of their products, and subsequently saw their power and influence dramatically diminished.
And finally…
Disney’s new parks boss outlines investment strategy, with superfans at the fore
«We are bringing the yeti back to life,» Thomas Mazloum, chairman of Disney Experiences, announced to 12,000 Disney parks fans Saturday night during the division’s showcase in Anaheim, California.
Mazloum announced the yeti repair — as well as the return of fan-favorite characters Dreamfinder and Figment to Epcot in Florida and an overhaul of Tomorrowland in California — to some of Disney’s most ardent fans on Saturday.
It’s a signal of where the company plans to put its focus for the blockbuster Disney Experiences unit, made up of theme parks, cruise lines and consumer goods sales.
As Disney expands its reach, it will need to lean on its most loyal attendees and biggest spenders to counter macroeconomic uncertainties and challenging travel trends.
— Sarah Whitten
