Investors have grown uneasy after Alphabet ramped up AI spending, with the stock falling 9% over the past five trading sessions and slipping below its 200-day moving average. Evercore ISI and Barclays warned that enthusiasm for AI capital spending is starting to cool and that heavy concentration in the S&P 500 is adding risk. Microsoft, Meta and Amazon are expected to post sharp increases in AI-related capital spending for the second quarter, keeping scrutiny on big-tech earnings durability and broader index stability.

Monolithisch India Limited (NSE: MONOLITH) reported Q1 FY27 revenue of ₹47.18 crore, up 64% year on year, with EBITDA of ₹13.11 crore and net profit of ₹10.07 crore. The company said its premium SGB series generated nearly half of quarterly revenue. It also confirmed the greenfield plant will begin dry runs and technical trials in mid-September 2026, and guided Q2 revenue at ₹55–60 crore.

Sugar mills in India’s Maharashtra have rapidly shifted into ethanol, with production capacity rising from 26 lakh litres in 2021–22 to 244 crore litres in 2022–23 and output reaching 104.83 crore litres in the 2024–25 Ethanol Supply Year. The industry has invested more than ₹35,000 crore in ethanol facilities and is seeking higher procurement prices to match an increase in sugarcane Fair and Remunerative Price (FRP). The shift has improved mills’ financial resilience, but it also diverts cane and molasses into fuel, creating a structural constraint on raw sugar supply.

The United States carried out military strikes on Iran for a sixth consecutive night, focusing on facilities at Chabahar port, targets around the Bushehr nuclear power plant, and six bridges near the Strait of Hormuz. Iran said it destroyed two US radar sites in Oman and launched missiles toward Kuwait and other countries, while the fighting has killed 38 people and wounded 400 in Iran. The escalation has heightened regional risk, raising concerns over shipping through the Strait of Hormuz and the stability of energy infrastructure.

Semiconductor shares fell broadly, with Nvidia, AMD, Micron and SK Hynix weakening across U.S. and South Korean markets. About $11 billion flowed out of U.S. semiconductor funds in the week ended June 24, the largest weekly outflow this century, according to LSEG Lipper data. Even as expectations for AI infrastructure spending remain strong and several firms have raised price targets, many chip stocks are trading near analysts’ 12-month targets, raising concerns that valuations already reflect much of the growth. SK Hynix reversed after a sharp jump in its U.S. trading debut, weighing on the memory-chip segment.

Maharashtra’s off-budget guaranteed liabilities totalled ₹1.81 lakh crore as of March 31, 2026, accounting for 16.4% of its estimated debt stock. The Comptroller and Auditor General criticised reliance on borrowings outside the budget, saying it understates the state’s true debt and fiscal deficit and reduces transparency. Two cooperative sugar factories controlled by politicians received government-backed loans totalling ₹139.88 crore. The state’s debt-to-GSDP ratio has moved beyond the FRBM ceiling of 25%, raising concerns over fiscal sustainability.

Starbucks is developing its own AI system to replace Microsoft’s inventory management platform and an IBM tool used for equipment maintenance, with a rollout possible as early as late 2025. The initiative is part of the company’s $2 billion cost-cutting plan and includes a comprehensive review of existing software contracts. Starbucks has cut about 2,300 jobs, including many technology roles, and is opening new tech offices in Nashville and India. The shift has fueled concerns that demand for large enterprise software could weaken, sending IBM, Salesforce and ServiceNow down 3%-4% in premarket trading.

US gasoline prices have started to fall after the US and Iran reached an interim peace agreement that reopened the Strait of Hormuz, easing fears over crude supply and pulling WTI lower. But gasoline inventories remain low and refiners’ restocking needs are keeping fuel costs elevated. Gasoline futures are still more than 80 cents a gallon above prewar levels and the national average pump price is holding around $4.06 a gallon, leaving experts doubtful of a quick return to $3 gasoline. Some analysts say a move back toward prewar prices may not come until late 2026.

On June 29, rising tensions between the United States and Iran around the Strait of Hormuz pushed international crude oil prices higher, stoking inflation worries and reinforcing expectations of further U.S. Federal Reserve rate hikes. Spot gold fell 0.8% to $4,057.77 per ounce, marking a fourth consecutive monthly decline. In India, 24K gold was priced at about ₹1.43 lakh per 10 grams, while silver held at ₹2,193.50 per 10 grams.