Friday's News Links

[Reuters] Global stocks climb as US jobs data cools Fed hike fears

[Reuters] Oil prices stable as US-Iran peace efforts hold

[CNBC] Extreme heat wave threatens U.S. power grids and July 4 travel

[Reuters] Wall St Week Ahead Investors look for Fed clues, earnings signs as tech wobbles 

[Reuters] Goldman dominates first-half M&A as dealmaking surges in EMEA

[Yahoo/Bloomberg] The AI Trade Is Losing One of Its Key Signals

[AP] Powerful general in Iran emerges from hiding as Tehran prepares for Khamenei’s dayslong funeral

[Axios] Ukraine proves it can hit Russia almost anywhere

[Reuters] Inside Taiwan's nightmare scenario: Chinese blockade, earthquake, sabotage and invasion

[Bloomberg] Sweltering Heat Dome Threatens US Holiday Events and Power Grids

[Bloomberg] US Stocks Post Largest Outflows in Over Three Months, BofA Says

[Bloomberg] Venezuelans Frustrated by Earthquake Response Want New Presidential Elections

[Bloomberg] China Services Gauge Fares Better Than Forecast Despite Slip

[NYT] The Hottest Stock Markets Lead to the Biggest Losses

[NYT] Trump’s Huge Windfall Has Few Known Global Precedents

[NYT] See How Europe’s Heat Waves Melted the Alps’ Glaciers

[WSJ] This Year’s Job Market Is Shaping Up to Be Surprisingly Stable

[WSJ] Investors Seek to Pull Nearly $16 Billion From Private-Credit Funds

[WSJ] Software Loans Hit Rough Patch Even Before AI Fears Triggered SaaS-Pocalypse

[WSJ] AI Data Centers Use Far More Water Than Most Tech Giants Report

[WSJ] Former Top General Warns the Military Is Being Politicized

[WSJ] Trump’s Brokerage Accounts Made Big Trades Around ‘Liberation Day’ Tariffs

[FT] Surging Wall Street profit forecasts fuel fears of ‘earnings bubble’

[FT] Donald Trump’s $2.2bn windfall invites comparisons with global strongmen

[FT] China steps up claims over sea east of Taiwan

Thursday Evening Links

[CNBC] Citadel’s hedge funds post broad first-half gains, top performing strategy sidesteps quant selloff

[Bloomberg] Trump Says Fed’s Warsh Faces Board That’s a ‘Bit Hostile’

[Bloomberg] Trump Allies Double Down on Efforts to Reshape Federal Reserve

[Bloomberg] Wall Street Bets Rallying Markets Will Absorb Every Market Blow

[Bloomberg] Invesco’s Brill Gives SpaceX Bond a Red Card for ‘Very Sloppy’ Performance

[WSJ] Trump’s Brokerage Accounts Made Big Trades Around ‘Liberation Day’ Tariffs

[WSJ] What to Know About the Heat Dome, in Three Charts

[WSJ] How Machado’s Return to Venezuela Got Derailed After U.S. Resistance

[FT] ‘Heat dome’ over eastern US sends electricity prices soaring

Thursday Afternoon Links

[CNBC] Dow rises to record, Nasdaq falls again as chipmakers struggle: Live updates

[CNBC] Job seekers giving up: Labor force participation rate falls to lowest in 50 years, outside of Covid era

[AP] Heat adds to strains on areas with data centers, raising the temperature on AI debates

[AP] Finding freedom from the heat on July 4th will be a challenge in eastern US

[Reuters] Hedge funds reap June gains by piling into short bets but lose on oil, sources say

[Bloomberg] AI Debt Deluge Makes Credit Market Look Safer While Masking Risk

[Bloomberg] White House’s Hassett Criticizes Powell for Staying on at Fed

[Bloomberg] JPMorgan Says Saylor’s Strategy Adds New Risk to Bitcoin Market

[Bloomberg] Blackstone’s QTS Abandons Massive Data Center in Virginia

[Bloomberg] Trump Financial Disclosure Shows 21,000 Trades in 2025

[NYT] Energy Department Orders Data Centers to Tap Backup Power

[NYT] What Private Credit Is, and Why Investors Are So Worried About It

[NYT] Private Credit Can’t Stop the ‘Freak Out’

[WSJ] U.S. Dangles Rewards for Opening the Strait of Hormuz. Iran Isn’t Budging.

[WSJ] The ‘Five Alarm’ Risks Facing the Power Grid This Summer

[WSJ] Heat Waves Are Becoming a Chronic Drag on the Economy

[WSJ] New York City Hasn’t Built This Many Apartments Since 1965

[WSJ] Russia Pounds Ukraine’s Capital in One of War’s Largest Attacks

[FT] The chip rally is tightening tech’s grip on Wall Street