Tuesday's News Links

[CNBC]  S&P 500 rises after light June inflation data, Dow futures weighed down by IBM: Live updates

[CNBC] Oil gains over 2% as Mideast tensions and Hormuz toll prospects raise supply worries

[Reuters] IBM warns AI boom is squeezing software budgets; shares slump in sector rout

[CNBC] Consumer prices rose 3.5% annually in June, less than expected as energy prices eased

[Reuters] Live: Iran hits tankers after third night of US attacks; Trump reimposes naval blockade

[AP] US attacks Iran and Tehran retaliates across the Middle East, threatening a return to all-out war

[Yahoo/Bloomberg] US-Iran Truce Collapses as Attacks Worsen and Blockade Returns

[AP] Why it’s so difficult for the US to fully reopen the Strait of Hormuz

[CNBC] Warsh promises inflation will be a ‘thing of the past,’ cites benefits of AI investment boom

[Yahoo/WSJ] Warsh Tells Congress the Fed Has ‘No Tolerance’ for High Inflation

[AP] JPMorgan Chase profit hits $16.9 billion in the second quarter, boosted again by market volatility

[Yahoo/Bloomberg] Goldman Blows Past Stock-Trading Records With $7.42 Billion Boon

[Yahoo/Bloomberg] Citi Beats Every Profit Estimate as CEO’s Rebuild Gains Steam

[Yahoo/Bloomberg] BofA Profit Soars as Stock Traders, Dealmakers See Resurgence

[Yahoo/Bloomberg] Wells Fargo Profit Beats Estimates on Wealth, Investment Banking

[Yahoo/Bloomberg] AI Investment Race Could Turn Debt-Fueled Boom to Bust, BIS Says

[CNBC] ‘Nobody underwrote for that’: Private credit faces a key test as higher rates squeeze borrowers

[Yahoo/Bloomberg] Klarna Plans New Buy-Now-Pay-Later SRT as It Targets US Growth

[AP] Subpoenas issued to NY Times reporters seen as ‘unprecedented’ threat to press freedom

[Reuters] China's June trade tops forecasts buoyed by AI boom

[Yahoo/Bloomberg] China Urges Normal Hormuz Passage as Trump Reinstates Blockade

[Bloomberg] Iran-Backed Houthis Strike Saudi Arabia in Major Escalation

[Bloomberg] Dimon Swaps Weather Report for ‘Tectonic Plates’ to Explain Risk

[Bloomberg] AI’s $5.8 Trillion Buildout Needs Every Bond Flavor It Can Sell

[Bloomberg] Emerging Bond Returns Beating Treasuries as Carry Trades Boom

[Bloomberg] Inflation Is Still Too High — and Here to Stay

[Bloomberg] SK Hynix Slides More Than 20% in Two Days as AI Trade Unravels

[Bloomberg] Leveraged Chip Bets Backfire in Korea as Biggest ETF Falls 45%

[NYT] Big Banks Smash Earnings Records, but ‘Tectonic’ Risks Loom

[NYT] Trump Says Fighting With Iran Has Resumed as He Orders Blockade and Tolls

[WSJ] U.S. Small Business Confidence Improved in June

[WSJ] New York Set to Temporarily Ban Large New Data Centers

[WSJ] Putin Was Xi’s Role Model. Now He’s the Junior Partner.

[FT] Washington and Tehran send warnings by missile

[FT] How QE changed banks, and why that makes QT dangerous

[FT] US small caps soar as investors look beyond big tech

Monday Evening Links

[CNBC] Stocks end lower as oil prices surge on renewed Hormuz tensions, SK Hynix leads chip stock sell-off

[CNBC] Brent oil jumps more than 9%, biggest daily gain since 2020, after Trump reinstates Iran blockade

[AP] Live updates: Trump says US will blockade Iran in Strait of Hormuz and charge ships for safe passage

[Axios] U.S. military to enforce new Iran blockade starting 4pm Tuesday

[Yahoo/Bloomberg] US Attacks Iranian Port Using Sea Drones for the First Time

[AP] Yemen’s Houthis strike Saudi Arabia’s Abha airport with missiles and drones in a sharp escalation

[Yahoo/Bloomberg] Fed Maintains Reserve Management Purchases at $10 Billion

[Yahoo/Bloomberg] Robinhood Eyes Its First Bond Sale Backed by Credit Card Bills

[Bloomberg] Trump’s Hormuz Demand Implies Fee of $30 Million Per Supertanker

[Bloomberg] Tariff Refunds Trigger Widening in US Budget Gap for 2026

[NYT] Trump’s Strait of Hormuz Fee Could Double the Cost of Shipping

[NYT] Fed Official Warns of Higher Rates if Inflation Stays Elevated

[WSJ] U.S. Launches New Iran Strikes, as Trump Weighs Attacking Nuclear Site

Monday Afternoon Links

[CNBC] Stocks drop after Trump reimposes Strait of Hormuz blockade, SK Hynix leads chip stocks lower: Live updates

[CNBC] U.S. oil jumps above $75 a barrel after Trump reinstates Strait of Hormuz blockade on Iranian ships

[Yahoo/Reuters] Trump: Iran blockade reinstated, US to charge 20% on Strait of Hormuz cargo

[AP] Live updates: Trump says US is ‘reinstating’ blockade on Iran in Strait of Hormuz

[AP] Iran-backed Houthis accuse Saudi Arabia of striking Yemen’s international airport

[Yahoo/Bloomberg] Wall Street Banks Set to Pull in Almost $39 Billion From Trading

[Bloomberg] Waller Says Fed May Need to Raise Rates to Tame Core Inflation

[Bloomberg] Warsh’s Balance-Sheet Panel Runs Into Market Reality Check

[Bloomberg] Europe Risks ‘Explosive’ Path If It Doesn’t Fix Debts, IMF Warns

[Bloomberg] Venezuela’s Inflation Spike Compounds Earthquake Misery

[FT] Yemen’s Houthis accuse Saudi Arabia of attacking international airport