Tactical Short Conference Call This Afternoon

Please join Doug Noland and David McAlvany this coming Thursday, July 31st, at 4:00 pm Eastern/2:00 pm Mountain Time for the McAlvany Wealth Management Tactical Short Q2 recap conference call, “Terminal Phase Whipsaw” Click here to register.

Thursday's News Links

[CNBC] S&P 500 rises after Meta and Microsoft post quarterly beats: Live updates

[Yahoo/Bloomberg] US Bond Traders Eye Inflation for Steer on September Rate Cut

[AP] A key US inflation gauge rose last month as Trump’s tariffs lifted goods prices

[Axios] Fed's favorite inflation gauge edges higher in June as tariffs ramp up

[Reuters] US weekly jobless claims rise marginally

[AP] Trump seeks to use Canada’s recognition of Palestinian state as leverage in trade talks

[Axios] Trump lashes out at Powell over rate decision with stream of insults

[Yahoo Finance] 'TOO ANGRY, TOO STUPID': Trump bashes Fed Chair Powell in latest tirade after central bank leaves interest rates unchanged

[Reuters] Trump hits Brazil with tariffs, sanctions but key sectors excluded

[CNBC] Meta’s big AI spending blitz will continue into 2026

[Yahoo/Reuters] BOJ keeps rates steady, revises up inflation forecast

[CNBC] China’s July manufacturing activity contracts more than expected — declines for fourth-straight month

[Bloomberg] Trump Renews Powell Feud Over Rate Decision, Fed Renovation

[Bloomberg] Lula’s Defiance Pays Off as Trump Blinks on Brazil Tariffs

[Bloomberg] What Are Trump’s Options If His Tariffs Are Ruled Unlawful?

[Bloomberg] China Summons Nvidia Over H20 Chip Security Days After US Talks

[NYT] Investors Cheer an A.I. Spending Bonanza

[NYT] Trump’s Fight With the Fed Won’t End With Rate Cuts

[NYT] Murky Pledges of Investment Cast Shadow on Trump’s Trade Deals

[NYT] Countries Promise Trump to Buy U.S. Gas, and Leave the Details for Later

[WSJ] Powell’s Gamble: That the Economy Will Reveal Its True Self in the Next Two Months

[WSJ] Canada-U.S. Trade Talks Might Fail to Produce Tariff Deal by Aug. 1, Carney Says

[WSJ] The Condo Market Is Floundering: Four Charts That Explain the Downturn

[WSJ] Eurozone Proves Robust as Joblessness Stays at Record Lows

[WSJ] Bank of Japan Raises Price Forecasts, Fueling Rate-Hike Hopes

[WSJ] Global Trade Raised Living Standards for Millions. New Barriers Are Reversing the Trend.

[WSJ] Trouble Brewing: Why a Brazilian Tariff Might Cause Coffee Prices to Soar

[FT] Demand for gold remains buoyant despite record high prices, says WGC

[FT] US trading partners rush to sign deals before Donald Trump’s tariffs hit

[FT] Europe’s summer of humiliation

[FT] Bank of Japan raises inflation forecasts as food prices bite

[FT] Donald Trump slams India and Russia as ‘dead economies’ after tariff stand-off

Wednesday Evening Links

[CNBC] S&P 500 futures rise after Meta and Microsoft post quarterly beats: Live updates

[AP] Fed’s Powell sticks with patient approach to rate cuts, brushing off Trump’s demands

[Yahoo/Bloomberg] Powell Says Fed Has Made No Decision About September Meeting

[Yahoo/Reuters] Powell says Fed does not consider government interest rate costs in policy debate

[Yahoo/Bloomberg] BlackRock's Rosenberg Sees Tricky Environment Ahead for Fed

[Yahoo/Reuters] Trump says US will impose 15% tariff on South Korean imports

[AP] Bessent says new Trump child savings accounts are ‘back door for privatizing Social Security’

[Bloomberg] Powell Bucks Pressure, Dissents in Showing Resolve on Inflation

[NYT] Ford Is Latest Carmaker to Blame Tariffs for Profit Slump

[WSJ] Fed Holds Rates Steady, but Two Officials Back a Cut

[WSJ] Trump Just Crashed the Copper Market

[FT] Jay Powell strikes hawkish tone as Fed defies Donald Trump’s calls for rate cut

[FT] US adds 40% tariff on Brazil and places sanctions on judge trying Bolsonaro

Wednesday Afternoon Links

[CNBC] S&P 500 maintains gain post Fed decision as traders await Powell comments: Live updates

[CNBC] Divided Fed holds key interest rate steady, defying Trump’s demands for aggressive cuts

[Yahoo/Reuters] US Treasury keeps notes, bonds auction sizes steady, increases debt buybacks

[Yahoo/Bloomberg] Bessent Not Expecting a Fed Rate Cut Today, Urges ‘Imagination’

[Yahoo Finance] Housing contract activity slumped again in June as buyers remain priced out

[Yahoo/Bloomberg] Trump’s Trade Deals Come With Few Details to Flesh Out Big Numbers

[Yahoo/Bloomberg] Trump Crypto Group Offers Proposals to Boost Digital Finance

[Bloomberg] Risky Borrowers Are Piling Into a Market Hungry for Junk

[NYT] U.S. Economy Slowed in First Half of 2025 as Tariffs Scrambled Data

[FT] Trump hits India with 25% tariffs and unspecified ‘penalty’

[FT] US Treasury to sell more short-term debt in continuation of Biden-era policy

[FT] What’ll happen if we spend nearly $3tn on data centres no one needs?

[FT] Germany faces €170bn budget gap despite massive borrowing