- Explosions Heard In Multiple Areas Of Iran
- US: Lebanon, Israel Enter Next Phase Of Hezbollah Disarmament Deal
- UKMTO: Strait Of Hormuz Threat Level Remains Severe
- Fed’s Williams Says AI Is Now His Main Inflation Concern
- US Existing Home Sales Dip As Affordability Concerns Linger
- US Weekly Jobless Claims Fall As Labor Market Conditions Remain Stable
- US Announces Laser Weapon Agreement With Lockheed Martin Aculight
- ECB Officials Couldn’t Overlook Energy Shock In June
- France Seen Dodging Recession As Central Bank Lifts GDP Estimate
- Burnham On Brink Of Premiership As 322 Labour MPs Back Him
- Qatar Pauses Push To Ramp Up LNG After Hormuz Tanker Attack
- Zuckerberg Pledges ‘Aggressive’ Pricing With Meta’s First Pay-To-Use AI
- Meta Jumps Into AI Coding Market In Effort To Chase Anthropic And OpenAI
- OpenAI’s Newest AI Model Is 54% More Token Efficient On Agentic Coding
- GS AM: Secures $70B In Retirement Asset Mandates From Verizon, Lockheed
- NY Sues 3M, DuPont, Others Over Toxic 'Forever Chemicals' In Consumer Goods
- Micron Boosts US Spending To $250 Billion Amid Memory Surge
- Amazon Shipping Looks To Snag FedEx, UPS Customers With Low Pricing
- Volkswagen Adjusts Production Capacity To 9 Mln Vehicles Per Year
Federal Reserve Chairman Kevin Warsh on Thursday unveiled the members of the five task forces that will examine key issues that shape US monetary policy.
In addition to economists and former central bankers, they include prominent business leaders such as former Walmart CEO Doug McMillon; Marc Andreessen, cofounder of Andreessen Horowitz; and Asha Sharma, the executive vice president and Xbox CEO at Microsoft.
The new teams will “operate independently, with a mandate to follow the evidence, provide candid feedback, and produce rigorous findings for the Federal Open Market Committee,” Warsh said in a statement.
(Continue Reading - CNN)
The European Central Bank said it was unable to overlook the energy shock at its meeting in June, when higher energy prices were expected to push inflation above its 2% target over the medium term.
The ECB’s governing council last month made a unanimous decision to raise its key interest rate to 2.25%, becoming the first major central bank to hike on the back of elevated energy prices due to the war in Iran.
“It was now clear that the current situation no longer qualified as a case for looking through the shock,” the ECB said in its account of the June meeting.
(Continue Reading - WSJ)
America’s oil supplies are far from prepared for the U.S.-Iran ceasefire to end.
Global oil prices retreated to prewar levels and tanker traffic through the Strait of Hormuz gradually resumed after President Trump announced a temporary pause in the fighting in mid-June—but crude stockpiles will take much longer to restore.
Commercial inventories in the U.S. rose 3 million barrels in the week ended Friday, according to the Energy Department, the first uptick after 10 consecutive weeks of drawdowns.
(Continue Reading - WSJ)
An “America-first” fuel policy aimed at helping struggling US farmers is triggering an unexpected side effect: an influx of biofuel imports from Europe.
More than 13 million gallons of biodiesel from Europe has arrived in the US since the beginning of May, including 3.4 million gallons of Dutch supply in just the last week. These represent the first biodiesel shipments to enter the US from Europe since December 2024, according to bills of lading and Energy Information Administration data.
On the surface, the trade flows make little sense. The US is already the world’s largest biofuels producer, and Europe’s own fuel markets remain heavily strained because of the Iran war. However, the imports are coming after the US finalized record-high biofuel blend mandates in March.
(Continue Reading - Financial Post)
- US Existing Home Jun: 4.09M (est 4.20M; prev 4.17M; prev R 4.19M)
- US 30-Year Freddie Mac Fixed Rate Mortgages 09-Jul Wk: 6.49% (prev 6.43%)
- US EIA NatGas Storage Change (BCF) 3-Jul: 61 (est +49; prev +87)
- Explosions Heard In Multiple Areas Of Iran – AA
- US Says Lebanon, Israel Enter Next Phase Of Hezbollah Disarmament Deal – Al Arabiya
- Strait Of Hormuz Threat Level Remains Severe - UKMTO
- US Strikes Iranian Railway Bridges On Route To City Of Khamenei’s Burial – FT
- Iran Says It Hits US Military Targets In Gulf, Lays Slain Leader To Rest – RTRS
- Saudi Arabia Condemns Repeated Iranian Attacks On Kuwait, Bahrain, Jordan – AA
- Iran's Foreign Minister Calls Turkish, Saudi And Omani Counterparts - CNN
- Fed’s Williams Says AI Is Now His Main Inflation Concern – BBG
- Fed Chairman Warsh Names Members Of Monetary Policy Task Forces – CNN
- Fed's Logan Says Fed OMOs Would Benefit From Voluntary Central Clearing – RTRS
- Fed's Perli Reiterates Flexible Path Of Reserve Management Buying - RTRS
- US Existing Home Sales Dip As Affordability Concerns Linger – BBG
- US Weekly Jobless Claims Fall As Labor Market Conditions Remain Stable – RTRS
- ECB Officials Couldn’t Overlook Energy Shock In June – WSJ
- 'Digital Euro Will Not Replace Cash,' Lagarde Says As Negotiations Advance – Euronews
- 'Let's Debate It': ECB President Says As Spain Pitches Joint Borrowing Plan – Euronews
- 'I'm Not A Candidate': Lagarde Says As French Election Speculation Grows – Euronews
- France Seen Dodging Recession As Central Bank Lifts GDP Estimate - BBG
- Interest Rates May Need To Rise This Year, Says Bank Of England Economist – BBC
- Burnham On Brink Of Premiership As 322 Labour MPs Back Him - Telegraph
- UK’s Lack Of Fiscal Space Expected To Prevent Marked Policy Easing – Fitch
- Treasury Yields Move Lower As Traders Weigh US-Iran Tensions – CNBC
- US 30-Year Bond Auction Draws Highest Yield Since 2007 – BBG
- The US Dollar Breaks Out Of The Pattern It Was Stuck In – MSN
- EUR/USD Faces Resistance Around 1.1450 – FXStreet
- New Zealand Dollar Surges As Economic Data Fuels Rate Hike Bets - BBG
- Scotiabank On GBP: Recovery Tests Key Resistance Against US Dollar – FXStreet
- Oil Prices Fall More Than 2% As Mediators Try To Prevent War – CNBC
- Russia's Saratov Oil Refinery At A Halt Since Wednesday's Drone Attack – RTRS
- Qatar Pauses Push To Ramp Up LNG After Hormuz Tanker Attack – BBG
- Turkey, Iraq To Sign 12-Month Deal On Iraq-Turkey Pipeline – RTRS
- Record US Biofuel Mandates Spark Unlikely European Import Surge – FP
- US Natural Gas Sinks On Storage Miss, Freeport Maintenance – WSJ
- Gold Rebounds Above $4,100 As Falling Oil Weighs On US Dollar – FXStreet
- Arabica Coffee Jumps 12% In Volatile Trade, London Cocoa Hits 8-Month High – TV
- ING Weighs Venezuela Commodity Deals As Client Requests Rise - BBG
- OpenAI’s Newest AI Model Is 54% More Token Efficient On Agentic Coding – CNBC
- Altman Says OpenAI Made ‘Many Changes’ During Talks With US – BBG
- Zuckerberg Pledges ‘Aggressive’ Pricing With Meta’s First Pay-To-Use AI - BBG
- Meta Jumps Into AI Coding Market In Effort To Chase Anthropic And OpenAI – CNBC
- Meta’s Zuckerberg Says Exploring AI Cloud Business Makes Sense - BBG
- NY Sues 3M, DuPont, Others Over Toxic 'Forever Chemicals' In Consumer Goods – RTRS
- Former Fed Chairman Ben Bernanke Joins Anthropic Oversight Trust - BBG
- US Announces Laser Weapon Agreement With Lockheed Martin Aculight - DoW
- GS AM: Secures $70B In Retirement Asset Mandates From Verizon And Lockheed Martin - CNBC
- Micron Boosts US Spending To $250 Billion Amid Memory Surge – BBG
- US Appeals Court Upholds Win For AstraZeneca In Pfizer Cancer Drug Patent Fight - RTRS
- ‘Expectations On Every Calorie’—PepsiCo’s CEO Is Navigating GLP-1s And Inflation - WSJ
- Amazon Shipping Looks To Snag FedEx, UPS Customers With Low Pricing – SCD
- CME Launches New Product To Simplify Basis Trade Bets - FT
- Google Expanding AI Transparency In Ads - Blog
- Carlyle To Sell $2.6 Bln Data Centre Power Unit To EQT For Fivefold Return - FT
- Volkswagen Board Faces Crunch Talks Over Plant Closures And Job Cuts – RTRS
- Qiagen Draws Early Takeover Interest From EQT, Advent – BBG
- SK Hynix Intends To Price Its US Listing At $149 Per ADR - CNA