Business & Markets — July 9, 2026

PepsiCo earnings miss estimates. PepsiCo reported weaker-than-expected Q2 earnings as North American consumers tightened budgets. International demand stayed strong. But the miss is an early signal of domestic consumer stress heading into earnings season.

The company's results showed a split between its two major markets: overseas sales held up while U.S. shoppers cut back on spending, according to CNBC. Because PepsiCo reports ahead of most large companies, analysts often treat its results as a preview of broader trends, and the shortfall raises questions about how other consumer-facing firms will fare as the quarterly reporting period gets underway.

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AstraZeneca loses $27 billion in market value. AstraZeneca shares fell 9% after a late-stage heart disease drug trial failed to meet its primary endpoint, erasing roughly $27 billion in market capitalization.

The setback centered on a pivotal clinical study, the final stage before a drug typically seeks regulatory approval, meaning the treatment did not demonstrate the benefit researchers had set out to prove, according to CNBC. Investors responded by selling the stock, and the 9% single-day decline translated into one of the larger valuation losses tied to a drug-trial readout, underscoring how heavily the market had counted on the program.

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Oil prices rise as Iran ceasefire collapses. Oil prices rose sharply Wednesday after President Trump declared the Iran ceasefire over, with traders pricing in prolonged disruption to Strait of Hormuz shipping traffic.

The move followed President Trump's statement that the truce with Iran had ended, according to Axios, prompting energy traders to reassess supply risks. The Strait of Hormuz is a key chokepoint for seaborne crude shipments, and expectations that traffic through it could face extended disruption drove the repricing. Markets are now watching whether hostilities resume in a way that materially affects tanker flows and global supply.

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