Argentine fans react as their team scores against Egypt during a FIFA World Cup match watch party at Cerveceria La Tropica on July 07, 2026 in Miami, Florida. Argentina and Egypt are playing in the round-of-16 match in Atlanta. <\/p>\n
Joe Raedle | Getty Images<\/p>\n
Hello, this is Leonie Kidd coming to you from London. <\/p>\n
Please indulge this English writer a moment to acknowledge last night’s semi-final disappointment. While it won’t impact the markets, it will impact the mood in the newsroom and across the country after the loss to Argentina. <\/p>\n
What you need to know today<\/p>\n England is out of the Men’s FIFA World Cup, after a resurgent Argentina, led by Lionel Messi, came back in the second half to win the game 2-1. They proceed to the final<\/a> on Sunday against Spain, set to take place in MetLife Stadium in New Jersey. England will meet France for the third-place play-off on Saturday. <\/p>\n The World Cup has given American bars and restaurants a much-needed boost<\/a>, according to the latest Federal Reserve Beige Book. Those in England will have to be content with the semi-final marking the pinnacle of the World Cup boom. <\/p>\n Chipping away<\/p>\n There are more wild swings in the chip space. <\/p>\n It’s another double-digit day for South Korea’s SK Hynix<\/a>, this time the stock is down<\/a> in Thursday trading, dragging down the Kospi<\/a> and the tech sector in Asia more broadly. The group has seen massive volatility since its U.S. listing<\/a> last week.<\/p>\n Louis Kondratev, trader at XFUNDs, noted the recent pullback reflects how crowded semiconductor trades have become after a prolonged AI-driven rally. “Semiconductors alone now make up roughly 20% of the S&P 500, which is incredibly difficult to sustain,” he said.<\/p>\n The latest earnings in the space come from Taiwan Semiconductor Manufacturing Co, TSMC<\/a>, which has reported a 23.4% jump in second-quarter profit<\/a> on the back of robust demand for its chips. <\/p>\n Public problems and progress‘Forever War’ risk<\/p>\n President Donald Trump<\/a> told Fox News in an interview on Wednesday that Iran wants to meet and make a deal<\/a>. “They’re nasty people, but they want to make a deal,” Trump said.<\/p>\n His comments come as the U.S. Central Command outlined a second wave of attacks on Iran on Wednesday. <\/p>\n Markets are struggling to price these developments into early trade on Thursday. Crude prices<\/a> were initially higher but have fallen back, while U.S. futures are edging higher<\/a> ahead of a busy data and earnings day on Wall Street. <\/p>\n \u2014 Leonie Kidd<\/p>\n