Net income of Saudi Aramco saw surge in profits to $48.4 billion in Q2, which is up from $25.5 billion YoY. The free cash flow rose by 53% as well to $34.6 billion. Aramco has posted the highest profits since it went public in 2019, all connected to rise in oil prices and increasing demand.

Gold seems to be in a relatively positive situation. As of now, it looks like the yellow metal will be able to close its fourth week in green, which would be the longest winning streak in more than 12 months. This might be due to cooling inflation, which could lead to less-aggressive-than-anticipated rate hikes by the Fed.

After falling by 50% in three months from MYR 7,000, Malaysian palm oil futures increased their gains above MYR 4,000 per tonne. Indications of more robust export demand from Malaysia helped to boost the price.

Chicago soybean futures were trading above the $17-per-bushel mark, closing near record level of $17.8 from September 2012. This is reportedly due to the higher than usual temperatures across the US, highlighting the dangers of drought stress to crops.

WTI crude oil rose above $92 per barrel, off its daily lows of $88. This happened after Russia blocked oil exports via the southern portion of the Druzhba pipeline. There are alleging problems with transit costs which add to worries about a tight market.

Lumber futures are up by 8.37%, trading near levels not seen since September 2021. Lumber trades at $518 as the home industry slows down amid astronomical mortgage rates. The number of new homes sold in the US fell to its lowest level since April 2020 as rapidly rising loan rates and rising material costs continued to strain prospective buyers.

In July 2022, the annual inflation rate in the UK reached 10.1 percent, a new 40-year high that was far higher than analysts had predicted. Additionally, there is growing evidence that the Bank of England will continue its aggressive tightening policy to limit rising prices.

In the second quarter, the three biggest US publicly traded Bitcoin mining companies (Core Scientific, Marathon Digital Holdings, and Riot Blockchain) suffered losses of more than $1 billion. This comes as a result of the massive decline in crypto prices.

Michael Burry, a well-known hedge fund manager who predicted the 2008 crash, sold most of his stocks beside one. He invested in the private prison operator GEO Group, buying over 500,000 shares of the company.

Alphabet, the parent company of Google, is slowly entering the blockchain space. Over $1.5 billion has reportedly been invested by Alphabet in four blockchain and cryptocurrency companies. Alphabet has made investments in Voltage, the Digital Currency Group, Dapper Labs, Fireblocks, and more.

Walmart stock is up by more than 5% due to the company's business stabilization after surging inflation. Walmart's CFO, John David Rainey, sees changes in consumer behavior due to high inflation. He thinks these problems will persist throughout 2022 but is optimistic about the year 2023.

PayPal has finished integrating cryptocurrency services completely. The platform now allows users to buy, sell, and transfer BTC, BCH, ETH, and LTC via PayPal. Users can also choose cryptocurrency at checkout for qualified purchases.