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UBS raises its DRAM and NAND price forecasts; DRAM prices are now expected to rise 32% Q/Q in Q3 and 18% Q/Q in Q4 and NAND prices expected to rise 30% Q/Q in Q3 and 12% Q/Q in Q4

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U.S. Markets

Eli Lilly (LLY) Q2 2026 (USD): Adj. EPS 8.38 (exp. 6.01), Revenue 23bln (exp. 20.7bln)

LLYGeopolitics

Gulf official tells CNN “50:50” chance US and Iran could reach deal by Friday, CNN reports; Iranian delegation does not include IRGC, which would need to sign off on details of provisional agreement

U.S. Economy

US ADP Employment Change (Jul) 44K vs. Exp. 70K (Prev. 98K)