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US stocks hold steadier after inflation data, even as IBM plunges AP NewsInflation Slowed to 3.5% in June, as Americans Got a Break From Gasoline Prices WSJSinking inflation gives Warsh and Trump a lift PoliticoConsumer prices rose 3.5% annually in June, less than expected as energy prices eased CNBC
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Latest improvement on inflation isn't ‘mission accomplished,' Fed Chairman Warsh says CNNWarsh pledges Fed policy 'regime change' to rid inflation 'tax' on American people CNBCWarsh Tells Congress the Fed Has ‘No Tolerance' for High Inflation WSJ
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Trump retreats from shipping toll in Strait of Hormuz The Washington PostTrump Drops Plan to Charge Ships Fees in the Strait but Will Restore Blockade: Iran War Live Updates The New York TimesInside the 24-hour sprint to convince Trump to drop his plans to toll Strait of Hormuz CNNRenewed US naval blockade of Iran goes into effect, says military The Times of Israel
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U.S.-Iran War Latest: Oil prices surge as Trump aims to reinstate Strait of Hormuz blockade, U.S. to add fees CBS NewsOil prices off highs after Trump abandons 20% fee on Strait of Hormuz traffic CNBCTrump Backs Off 20% Fee for Strait of Hormuz Shipments Bloomberg.comTrump retreats from shipping toll, limits blockade in Strait of Hormuz The Washington Post
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IBM stock plummets more than 25% on Q2 earnings warning Yahoo FinanceIBM stock craters 23% after issuing second-quarter earnings warning CNBCSoftware Stocks Sink as IBM Miss Delivers ‘Devastating Blow' Bloomberg.comIBM warns AI boom is squeezing software budgets; shares sink in sector rout Reuters
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Foreign exchange reserves have dwindled by $54bn since start of Iran war
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There's no evidence this Mitch McConnell photo is AI-generated BBCJon Stewart Mocks Mitch McConnell's Recovery Photo The New York TimesMcConnell's absence creates new farm bill roadblock PoliticoMcConnell took a photo with that day's newspaper. The internet has questions. The Washington Post
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Supreme Court justices push Congress to boost security funding: "Threats have come very close" CBS NewsTakeaways From Rare Congressional Testimony by Two Supreme Court Justices The New York TimesSupreme Court Justice Barrett says 'the threat level is really high' in budget testimony CNBCSupreme Court warns Congress threats are rising and the court needs more security Axios
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France showcases 500 pro-Ukraine troops at Bastille Day ReutersEurope, Flexing Muscle in Ukraine, Is Still on Sidelines in Iran The New York TimesEuropean troops and warplanes join Paris Bastille Day parade in a show of unity for Ukraine AP NewsOn Bastille Day, Macron Offers Spectacle of European Military Might WSJBastille Da
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U.S. and Iran Reignite War Over Strait of Hormuz: Iran Live Updates The New York TimesUS military hits targets across Iran in hours leading up to resumption of naval blockade Fox News'Enough Is Enough': Lawmakers Criticize Trump Over Resumption of Iran War Time MagazineUS attacks Iran and Tehran retaliates across the Middle East, threatening a return to all-out war AP NewsAmerica's Latest Weapon Against Iran: Sea Drones
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Other banks had extraordinary quarters too, including Wells Fargo, Goldman Sachs, and Bank of America.
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Computer software is now packed with AI, and that's driving up costs, inflation data shows.
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S&P 500 gains after light inflation data, bounce in chip stocks: Live updates CNBCKevin Warsh faces Congress for the first time as Fed chairman CNNCPI Report Live Updates: Inflation Cools to 3.5% Annually as Oil Prices Drop The New York TimesConsumer prices rose 3.5% annually in June, less than expected as energy prices eased CNBC
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Paramount is still planning for its acquisition of Warner Bros. Discovery to close by late September despite lawsuit challenge from state attorneys general.
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Kevin M. Warsh, in his first testimony to Congress as chairman of the Federal Reserve, did not shed light on whether he supported higher interest rates to tame price pressures.
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An effort to block media giant's planned takeover of Warner Bros. Discovery underscores how states are taking a more active role in antitrust regulation.
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Big questions still need answering after President Donald Trump and Chinese President Xi Jinping averted a trade war escalation at the G-20 meeting.
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