- Pentagon Seeks $18.2B In Iran War Funds For Interceptors
- Saudi Ships Pivot From Red Sea Chokepoint For Rare Africa Trip
- Israel And US Consider Iran Land Blockade
- Eurozone Inflation Surprises To Upside, Sept ECB Hike More Likely
- French Prelim Inflation At 2.1% In July, In Line With Estimates
- UK Business Morale Hits 4M High In July, Lloyds Survey Shows
- BoJ Holds Rates At 1%, Warns Of Core Inflation Exceeding 2% Target
- China’s Factory Activity Guage Unexpectedly Signals Contraction
- BoJ Possibly Spent About 6-7T Yen Yesterday, Markets Estimate
- CPC Considers Indefinite Halt To Oil Ops Until Safety Guarantees
- Apple Shares Fall Despite Record Revenue As Outlook Disappoints
- Amazon Lifts Investment Plans After Strong Cloud Sales; Shares Jump
- ExxonMobil Posts Slight Miss; Repairs Dogged Refining Results
- Chevron Records Highest Quarterly Profit In Six Years
- Moderna Q2 Revenue Beats Estimates On Vaccine Sales
- Linde Raises Lower End Of 2026 Guidance After Q2 Earnings Beat
- Engie H1 Earnings Rise 3.3% On Strong Gas Trading, Power Fees
- AXA Backs 2026 Views After First-Half Earnings Rise
- US Regulator Probes 1.2M Teslas Over Suspension Failure Risks
- Novo Nordisk Drug Fails To Reduce Cardio Risk In Trial
- Commerzbank CEO To Employees: To Resume Talks With UniCredit
- BP Puts Its UK North Sea Business Up For Sale
- Seven & I Inks $1.8B Pact With Softbank, Paypay, SMFG
- DeepSeek Releases V4 Models Beta As AI Price War Heats Up
The Commerce Department’s GDP report for the second quarter on Thursday shows the economy continues to plod along and is shrugging off the war in Iran. But it’s also nothing to brag about.
The U.S. economy grew a tepid 1.5% during the second quarter, driven by consumers and AI investment. Consumer spending contributed 2.1 percentage points, while business investment added 1.2 points. Net exports subtracted a point from GDP, which is a statistical wash since imports flow into consumer spending and investment. A decline in government spending subtracted from growth in the quarter because of the way GDP is calculated, but less government helps the private economy over time.
Tokyo’s currency intervention on Thursday in New York was tactically savvy. It came just before the Bank of Japan’s monetary policy decision and delivered an immediate 2.4% rise off four-decade lows against the dollar. The subsequent 0.8% fall in Asian trading of the currency on Friday as the central bank held rates steady reflects how short-lived such gains will prove while Japan’s fiscal house remains in disorder. The prime minister’s political incentives provide scant hope of the necessary housekeeping.
Elon Musk's penchant for M&A within his own business empire seems to know no bounds. The sometime trillionaire may now be mulling a separation of Tesla's China business, the Wall Street Journal reported on Friday, citing sources. The move would help him swerve around looming obstacles to a potential tie-up with SpaceX. It also makes sense in an increasingly bifurcated global auto industry. But it's an idea that looks best on paper.
- Eurozone CPI Estimate (Y/Y) Jul P: 2.9% (est 2.9%; prev 2.8%)
- Germany Unemployment Change July: 6K (est 5K; prev -1K)
- France CPI (Y/Y) July P: 2.1% (est 1.8%; prev 1.8%)
- France PPI (M/M) Jun: -0.6% (prev -0.3%; prev R -0.2%)
- Norway Unemployment Rate NSA July: 2.1% prev 1.9%)
- Norway Credit Indicator Growth (Y/Y) June: 4.4% (prev 4.5)
- Switzerland Retail Sales Real (Y/Y) June: 1.5% (prev 3.5%; prev R 3.4%)
- Italy Consumer Sentiment Index July: 94.2 (est 92.8; prev 92.4)
- Italy CPI Harmonised (Y/Y) July P: 2.9% (est 2.9%; prev 3.0%)
- Spanish Current Account Balance May: 1.8B (prev 1.9B)
- UK Nationwide House Price NSA (Y/Y) July: 1.8% (est 1.9%; prev 2.2%)
- Pentagon Seeks $18.2B In Iran War Funds For Interceptors - BBG
- Israel And US Consider Iran Land Blockade - Telegraph
- US Officials Pressed China On Rare Earths, Farm Goods Commitments – RTRS
- Pres Trump: Not Sure If He Will Let Ukraine Build Patriot Missiles – FT
- Eurozone Inflation Surprises To Upside, Sept ECB Hike More Likely - MS
- ECB’s Kocher: Autumn Decisions To Hinge On Inflation Data – MS
- French Prelim Inflation At 2.1% In July, In Line With Estimates – RTRS
- Swiss Retail Sales Growth Slows In June – TV
- UK Business Morale Hits 4M High In July, Lloyds Survey Shows – RTRS
- UK House Prices Edge Higher In July, Nationwide Says – BBG
- BoJ Holds Rates At 1%, Warns Of Core Inflation Exceeding 2% Target – CNBC
- BoJ Gov Ueda: Expect To Keep Raising Rates As Conditions Change – Investing
- China’s Factory Activity Guage Unexpectedly Signals Contraction – WSJ
- Treasury Yields Follow Oil Prices Lower; Investors Await Fresh Data – CNBC
- Eurozone Yields Consolidate During End-Of-Month Rebalancing – Investing
- Gilt Yields Ease, But Post Steep Monthly Rise In July – TV
- USD Post Fed Losses Extend As Positioning Unwinds – FXStreet
- Euro Hits Session Lows Vs Pound After EZ Inflation Data – FXStreet
- Pound Underperforms As Traders Reconsider Hike Bets – FXStreet
- BoJ Possibly Spent About 6-7T Yen Yesterday, Markets Estimate - Nikkei
- Japan Declines To Confirm Yen Intervention, Hints At US Support – BBG
- AUD/USD Gains Ground Amid Softer US GDP Data – FXStreet
- NZD/USD Pulls Back From 8W Highs On Post-Fed Dollar Weakness – FXStreet
- WTI Oil Drifts Closer To $80.00 Amid A Mild Hormuz Traffic Rise – FXStreet
- Saudi Ships Pivot From Red Sea Chokepoint For Rare Africa Trip - BBG
- Ukraine Struck Russian Logistics Centres, Sea Terminal – Devdiscourse
- ADNOC Buys Tankers As Red Sea, Hormuz Crises Reshape Oil Trade – RTRS
- Ukrainian Drones Strike One Of Russia’s Largest Oil Refineries – RBC
- Gold Prices Slide; On Track For First Monthly Gain In 5M – Investing
- Apple Shares Fall Despite Record Revenue As Outlook Disappoints – Yahoo
- Amazon Lifts Investment Plans After Strong Cloud Sales; Shares Jump - RTRS
- ExxonMobil Posts Slight Miss; Repairs Dogged Refining Results – BBG
- Chevron Records Highest Quarterly Profit In Six Years – Investing
- Lyondellbasell Earnings Beat By $0.97, Revenue Misses Est – Investing
- Eaton Earnings Beat By $0.08, Revenue Topped Est – Investing
- Colgate-Palmolive Earnings Beat By $0.04, Revenue In Line – Investing
- Linde Raises Lower End Of 2026 Guidance After Q2 Earnings Beat - RTRS
- Moderna Q2 Revenue Beats Estimates On Vaccine Sales – RTRS
- Credit Agricole Tops Q2 Forecasts, Dismisses Tie-Up Talk - RTRS
- AXA Backs 2026 Views After First-Half Earnings Rise – WSJ
- Siemens Healthineers Benefits From Customs Refunds - HB
- Engie H1 Earnings Rise 3.3% On Strong Gas Trading, Power Fees – RTRS
- SNB Returns To Profit; Stocks Rally Offsets Gold Losses – BBG
- NatWest Reports £77M H1 Profit Amid Market Volatility – Investing
- British Airways Owner IAG Q2 Profit Drops 16% On Iran War Hit - WSJ
- Sony Profit Jumps More Than Expected, Raises Guidance – WSJ
- Mitsubishi Electric Q1 Revenue, Adj Oper Profit Rise To Record Highs – Morningstar
- Japan bank SMFG's Q1 Profit Jumps 33% On Robust Loan Demand - RTRS
- Kioxia’s Outlook Misses In Sign Memory Chip Boom May Be Slowing – BBG
- Tesla Weighs Sale Of China Business; Paves Way For Potential SpaceX Merger - WSJ
- Musk Dismisses Report Of Tesla's Potential China Business Sale - RTRS
- US Regulator Probes 1.2M Teslas Over Suspension Failure Risks – RTRS
- Anthropic: Claude AI Model Hacked 3 External Cos During Test – ABC
- Moderna’s Early Results of Norovirus Shot Weren’t Successful – BBG
- Chinese Military Researchers Tap US AI Models To Train Defence Systems – RTRS
- Novo Nordisk's Drug Fails To Reduce Cardio Risk In Late-Stage Trial - RTRS
- Commerzbank CEO To Employees: To Resume Talks With UniCredit - RTRS
- BP Puts Its UK North Sea Business Up For Sale – FT
- Seven & I Inks $1.8B Pact With Softbank, Paypay, SMFG – BBG
- DeepSeek Releases V4 Models Beta As AI Price War Heats Up – Nikkei
- TSMC Moves Up 1.4nm Production To 2028, Intensifying Samsung Rivalry – SE Daily