Thursday's News Links

[CNBC] Dow rises as traders monitor negotiations to reopen Strait of Hormuz: Live updates

[Yahoo/Reuters] Oil gains as investors cautious over Iran-Oman talks

[Yahoo/Bloomberg] Emerging Currencies Hold Near Record High as Carry Trades Revive

[Yahoo/Bloomberg] ‘Sell America’ Debate Re-Emerges as US Policies Sow Some Doubts

[Yahoo/Bloomberg] Alphabet Returns to Bond Market Despite AI Spending Worries

[AP] Possible Strait of Hormuz deal, Israeli soldiers killed in Lebanon and other news in the Mideast

[Yahoo/Bloomberg] Iran Says Deal With Oman on Strait of Hormuz Agreed in Principle

[Reuters] Iran warns Gulf states: tell Trump to desist or we hit you hard

[Yahoo/Reuters] US weekly jobless claims edge up; planned layoffs decline in July

[Yahoo/Reuters] US productivity rises faster than expected in second quarter

[Axios] U.S. workers' share of national income falls to a new low

[CNBC] JPMorgan’s Jamie Dimon warns of high leverage: ‘Somebody will disrupt the market’

[Yahoo/Bloomberg] FOMO-Driven Buying of S&P Calls Fuels ‘One-Way Flow’ of Orders

[Yahoo/Bloomberg] Xi Flexes Expanding Legal Arsenal to Warn Trump Ahead of Summit

[AP] How extreme heat is changing Americans’ lives, according to a new AP-NORC poll

[AP] Europe heat wave puts all major Italian cities on red alert as Austria sets heat record

[Reuters] Romania races to divert Danube water to nuclear reactor as shutdown looms

[Bloomberg] Trump Said to Call Warsh In Latest Signal of Push to Remake Fed

[Bloomberg] AI Hedge Fund’s Near Miss May Embolden Risky Bets

[Bloomberg] AI’s Volatile Power Demand Is Damaging Its Own Data Centers

[Bloomberg] BlackRock’s Troubled TCP Sells $523 Million of Loans to Pantheon

[Bloomberg] Ukraine Says It Hit Two of Russia’s Oil Refineries Overnight

[NYT] Bessent Declares Widening Gap Between Rich and Poor ‘Dead’

[WSJ] Trump Has Called Warsh Repeatedly Since He Became Fed Chair

[WSJ] Scott Bessent’s Yen Trade Has Unintended Consequences for the Markets

[WSJ] ‘Perps’ Are the Risky New Derivatives That Could Amplify Stock Blowups

[WSJ] Water Crisis Deepens on the Colorado River

[FT] Kevin Warsh to stick with lean Fed messaging despite market backlash

[FT] Insurance and bank stocks slide amid China tax crackdown fears

Wednesday Evening Links

[CNBC] Stock futures inch higher after blue-chip Dow posts new record close: Live updates 

[Reuters] Proposed Hormuz deal would give Iran control of inbound traffic, sources say

[AP] Iran and the US say a Strait of Hormuz deal is close, but one or both would have to back down

[Reuters] Iran threatens to hit Gulf states if US launches new strikes

[Reuters] Major Wall Street firms targeted in attempted cyberattacks, sources say

[Axios] AI's bottomless pit problem: Investors are scrutinizing costs

[Reuters] Meta's AI model hacked another company during testing, The Information reports

[Reuters] Heavy interest in US swap futures signals worry about higher rates for longer

[Yahoo/Reuters] Fed's Cook ready to raise rates if inflation doesn't start easing

[Reuters] North Korean missile unit deploys in Russia for Ukraine war, Kyiv says

[Bloomberg] Hedge Funds Take Big Hit in July After Bruising AI Selloff

[Bloomberg] JPMorgan CEO Dimon Says Leverage in Market Is ‘Pretty High’

[Bloomberg] Blue Owl BDCs Buy Back $90 Million of Shares to Support Value

[Bloomberg] Trump’s Battleship Fleet Could Cost $275 Billion, CBO Says

[Bloomberg] Brazil Central Bank Cuts Interest Rate to 14% After Inflation Cooled

[NYT] What the Stock Market’s Record Rally Has to Do With Rescuing the Yen

[FT] Iran says it has reached agreement with Oman on Hormuz shipping route

Wednesday Afternoon Links

[CNBC] S&P 500 gives up gain as 4-day rally loses momentum; Dow boosted by Nvidia: Live updates

[CNBC] Oil prices ease on Hormuz reopening hopes, despite Houthi threats

[Yahoo/Bloomberg] Iran Says Agreement on Hormuz Shipping Route Reached With Oman

[AP] Here are the latest developments in the Middle East

[CNBC] Situational Awareness hedge fund meltdown was a warning shot for leveraged markets, BofA CEO says

[Yahoo/Bloomberg] Major Hedge Funds Targeted in Wave of Attempted Cyberattacks

[Yahoo/Bloomberg] US Services Activity Continues to Expand on Resilient Demand

[Yahoo/Bloomberg] Kashkari Says Fed Should Raise Rates Now to Bring Down Inflation

[Yahoo/Bloomberg] SpaceX’s $101 Billion Unlock Heaps Pressure on Battered Shares

[Yahoo/Bloomberg] Some 64% of Young Men Day Trading Stocks Feel Like Failures

[NYT] China’s A.I. Is Surging Across Africa. That Should Worry Silicon Valley.

[WSJ] Home-Building Is Sputtering, but Lumber Prices Haven’t Been So High in Years

[WSJ] Trump’s Days-Old Hamas Disarmament Deal Is Already in Danger

[WSJ] Taiwan Tests War Plans to Thwart Chinese Invasion