Daily summary of the global economy: Williams Companies, Momentum Midstream, Momenta Global, General Motors, Alphabet, Verizon, Strait of Hormuz (June 29, 2026)

The energy sector is facing one of the largest acquisitions in the history of the American pipeline company Williams Companies. According to Bloomberg, the company is in advanced negotiations to acquire its competitor, Momentum Midstream, from the private equity group EnCap Flatrock Midstream, for approximately $5.5 billion. This acquisition, which would be the largest in Williams' history, will strengthen the company's access to the Haynesville production areas and to liquefied natural gas terminals on the Gulf Coast, where demand for pipeline capacity is growing due to the construction of new export facilities.

On Monday, there was renewed interest in technology companies associated with artificial intelligence in Asian capital markets. The Chinese autonomous driving company Momenta Global launched an IPO in Hong Kong, seeking to raise up to HK$4.67 billion, or approximately $5.98 billion, according to a stock prospectus cited by Reuters. The company is owned by automakers General Motors, Mercedes-Benz, Toyota, and SAIC, along with investor Tencent, and is expected to be valued at nearly $9 billion after the IPO; anchor investors include asset managers BlackRock and the fund Boyu Capital. Momenta plans to use the funds for the development of autonomous driving and the launch of robotaxi services, among other things, in collaboration with Uber in Abu Dhabi and Munich.

Significant Events with Global Impact

The fragile ceasefire in the Middle East was tested again over the weekend. On Sunday, Iran attacked Bahrain and Kuwait again with drones and missiles in retaliation for new U.S. airstrikes, and threatened to completely halt negotiations to end the war if Washington continues the attacks. The Bahraini Ministry of Interior said that an Iranian drone damaged a residential building near the international airport, while the Kuwaiti army announced that its air defense system intercepted two ballistic missiles. The dispute erupted after the U.S. military expanded a safe corridor for maritime traffic near Oman in the Strait of Hormuz, which Tehran considers a violation of its control over a key waterway.

Tensions eased slightly on Monday morning when Washington and Tehran agreed to suspend further attacks before planned negotiations in Doha, Qatar, according to Reuters. The price of oil rose to around $70 per barrel on Monday after a week of declines, as the market partially factored in the risk of renewed conflict.

The New York Stock Exchange also saw a symbolic change. The technology giant Alphabet, owner of Google and YouTube, today entered the prestigious Dow Jones Industrial Average for the first time, replacing the telecommunications company Verizon, according to the S&P Dow Jones Indices agency. Verizon's contribution to the price-weighted index was only half a percentage point due to the low stock price, while Alphabet, thanks to its position in cloud services, advertising, and artificial intelligence, will strengthen the representation of the technology sector in the index alongside Apple, Microsoft, Amazon, and Nvidia. This is the first change in the composition of the Dow Jones since November 2024.

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