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1. Escalated attacks in Iran drive up oil prices, leave Wall Street mixed
After the U.S.'s airstrikes on Iran and the country's retaliation this weekend and into Monday morning, oil prices increased and Wall Street futures were mixed before the opening bell, per the Associated Press. Brent crude prices jumped as much 5%, and Europe and the U.S. benchmarks rose 3.4% and 3.5%, respectively.
"Prices for both types of crude oil recently had slipped back to around the levels they were at before the war with Iran began after the two sides set an interim agreement on ending the conflict and ships resumed transporting oil through the Strait of Hormuz," reads the AP article.
S&P 500 futures fell 0.3% while the Nasdaq futures decline was 0.8% and the Dow Jones Industrial Average futures was unchanged.
2. Consumer spending stays strong this summer
In its monthly report, Bank of America found that consumer spending momentum was strong, with total credit and debit card spending increasing 6.3% year over year in June — "the strongest growth in over four years," per the internal card data noted in the report.
Bank of America credits both online promotions, such as Amazon's Prime Day deals, which occurred earlier this year, and discretionary spending associated with the World Cup.
"There has been a notable convergence in both wages and spending across income cohorts in recent months. In June, lower-income households' after-tax wage growth rose above that of middle-income households. Whether these trends persist into the second half of the year will hinge on whether underlying labor market momentum is sustained," reads the takeaway notes from the report.
3. Revealing the top US hotel transactions so far this year
During the first half of 2026, the top hotel transactions included the JW Marriott Marco Island selling for $835 million and the pending Caesars Entertainment sale estimated to be $17.6 billion, CoStar News Hotels' Bryan Wroten reported.
In the article, Wroten rounds up a list of notable transactions and a slideshow of some of the biggest individual hotel deals in the first and second quarters of the year.
4. Fires in Europe, Thailand leave dozens dead or unaccounted for
This week, a handful of fires have devastated a region in Europe and a bar in Bangkok, the AP reports.
A wildfire in France's Fontainebleau forest, which is about 40 miles south of Paris, forced evacuations on Monday in nearby residential neighborhoods as well as interrupting transportation on trains and highways. Additionally, 10 people in Spain were still missing Monday after a fire in the country's southern region killed 13 people.
Meanwhile, a fire in a Bangkok pub killed at least 27 people and injured dozens more before firefighters could put it out. The origin of the fire is still unknown.
5. Extreme heat to plague regions of US
Heat dome conditions in the Plains and Northeast regions of the U.S. are driving up temperatures 20 to 30 degrees above average for this time of year, according to CBS News. The worst conditions for the Northern Tier are anticipated Tuesday while the Northeast's heat is expected to peak on Wednesday. Highs will range from the high 90s to more than 100 degrees over the next week.
"Forecasters warned of the dangers associated with the unusually prolonged bout of heat, which they've called 'exceptionally rare' for some locations, even in mid-July," reads the article. "The National Weather Service said hazardous heat would spread eastward at times, while lingering in that central region through next weekend."