Phillips 66 (PSX) is expected to benefit from rising crack spreads, a key profitability driver for its refining operations. Crack spreads measure the margin between crude oil input costs and refined product prices, meaning wider spreads translate directly into higher refining profitability per barrel processed. When crack spreads expand, refiners like Phillips 66 capture more value from each barrel of crude they run through their system, boosting operating income without requiring volume growth. Phillips 66 operates one of the largest independent refining networks in the United States, making its earnings particularly sensitive to refining margin movements. A sustained widening in crack spreads would likely lift both near-term earnings and free cash flow generation, supporting the company's capacity for shareholder returns including buybacks and dividends. Analysts and investors tracking PSX will focus on whether current spread levels hold through the next reporting cycle, as refining margins are volatile and subject to rapid reversal from demand shifts or crude supply changes.
Indian startups raised $5.2 billion across 501 deals in H1 2026, down 9% in value but up 7% in deal count year-on-year, per the Inc42 Indian Tech Startup Funding Report. The drop is driven by fewer mega-rounds, while AI funding surged 317% and growth-stage deal activity hit a multi-year high.
The BSE Sensex fell 893 points and the Nifty 50 shed 279 points on June 30, 2026, wiping out roughly Rs 6 lakh crore in investor wealth in a single session. Both indices dropped 1.16%, closing at 76,200.68 and 23,824.10 respectively.
Kotak Mahindra Bank shares fell nearly 3% to Rs 397.6 after CEO Ashok Vaswani announced plans to exit the bank. Investor concern now centres on succession timing and whether the bank's ongoing digital and deposit-growth strategy will stay on track.
South Korea's Kospi dropped 3% at Monday's open while Japan's Nikkei fell 1%, as escalating US-Iran conflict triggered a broad risk-off move across Asian markets. South Korea's heavy reliance on Middle East oil imports makes it especially vulnerable to geopolitical shocks of this kind.
