Wednesday's News Links

[CNBC] S&P 500 is little changed after PCE report shows sticky inflation; Nvidia earnings on deck: Live updates

[Yahoo/Reuters] Oil drops to more than two-week low on hopes of Hormuz reopening

[CNBC] Dollar and bond markets ‘on edge’ ahead of Jackson Hole as Bessent’s market intervention piles pressure on Warsh

[CNBC] Fed’s preferred inflation gauge shows core prices rose 3.3% annually in July

[AP] US economy expands at sluggish 1.5% pace in second quarter, but consumer spending stayed strong

[CNBC] Mortgage rates hit highest level in 3 weeks, weakening demand further

[CNBC] Meta settles social media addiction case with California, other states for $16.7 billion

[Reuters] Trump: time to teach Canada you can't do this anymore

[Yahoo/Bloomberg] US Weighs More Trade Measures Against Canada After Retaliation

[AP] Iran warns of military ship ban in Hormuz under potential deal with Oman and other Middle East news

[Yahoo/Bloomberg] Iran, Oman Agree to Share Strait of Hormuz Revenue, IRGC Says

[Reuters] Iran and Oman reach accord on Strait of Hormuz, Revolutionary Guards say

[AP] Trump’s new economic squeeze on Iran has a big challenge: China

[Yahoo/Bloomberg] Warsh’s Peers to Highlight Global Inflation Risk at Jackson Hole

[Yahoo/Reuters] Anxious investors hope for clarity on Warsh's Fed plan at Jackson Hole

[Yahoo/Reuters] US rates need to rise soon absent evidence of ongoing drop in inflation, Fed's Collins says

[Yahoo/Reuters] As Cook case smolders, Trump has other paths to shape Fed policy team

[Yahoo/Reuters] Momentum, leveraged trading keep software stocks on roller coaster

[Yahoo/Bloomberg] French Showdown Over Next Budget Will Be Macron’s Riskiest Yet

[Yahoo/Reuters] Japan's corporate services inflation accelerates in July

[Yahoo/Reuters] Australia inflation tops forecasts in July, adds to rate risk

[Bloomberg] The US Can’t Fake Its Way Out of Fiscal Trouble

[Bloomberg] How AI Is Making Cyberattacks Harder to Stop

[Bloomberg] Copper Climbs From Record-High Close With Supply Still Tight

[NYT] Bessent Faces Credibility Test in Quest to Tame Markets

[NYT] ‘Honeymoon’s Over’: Warsh Under Pressure as Fed Weighs Raising Rates

[NYT] Inflation Remains Elevated as Energy Costs Push on Prices

[NYT] The Price of Diesel, the ‘Workhorse’ of Fuels, Nears a Record High

[NYT] A.I. Is Becoming So Powerful, It’s Stumping Those Trying to Contain It

[NYT] Trump’s New Tariffs on Canada Raise Familiar Legal Risks

[NYT] At Home and Abroad, Deference to Trump Turns Increasingly to Defiance

[NYT] The Fed Chairman Is Heading to Jackson Hole Without a Clear Stance on Inflation

[WSJ] U.S. Durable-Goods Orders Rose More than Expected in July

[WSJ] Detroit Needs Canada More Than Rest of the U.S. Does

[WSJ] The Canadian Bad Cop on the Front Lines of the U.S. Trade War

[WSJ] The U.S. Is Trying to Strangle Iran’s Economy. Here’s How Tehran Is Surviving.

[WSJ] Mark Walter’s Troubles Are Disrupting the Insurance World’s Hottest Trade

[WSJ] Blinder: Should the Fed Raise Rates? That’s Clear as Mud

[WSJ] How the Iranian Shahed Drone Transformed War—With China’s Help

[FT] Scott Bessent’s bond intervention puts US Treasury on collision course with Fed

[FT] Nvidia’s $200bn ‘balance sheet-as-a-service’

[FT] The multiplying risks of financing data centres

[FT] Insurers pile into deals allowing banks to offload default risk

[FT] Iran war approaching Ukraine-style stalemate, says shipping boss

Tuesday Evening Links

[CNBC] Stock futures are little changed as traders await key inflation report, Nvidia earnings: Live updates 

[Yahoo/Bloomberg] Oil Extends Declines as Iran, Oman Push Talks to Reopen Hormuz

[AP] Iran and Oman hold talks on managing the Strait of Hormuz and other news from around the Middle East

[Yahoo/Reuters] Four Fed bank boards wanted rate hike, minutes show

[Yahoo/Bloomberg] AI Trade at Risk From US Voter Ire Over Buildout, Barclays Says

[Bloomberg] Fed’s Barkin Says Rising US Debt Will Lead to Eventual Reckoning

[Bloomberg] Ontario’s Ford Stops Taunts, Backs Retaliation Against Trump

Tuesday Afternoon Links

[Reuters] Wall St recovers as tech bounces back before Nvidia results, inflation data

[Yahoo/Reuters] Oil falls over 4% as investors shrug off US sanctions on Iran

[Yahoo/Reuters] Canada slaps retaliatory tariffs on US goods worth $20 billion as trade war intensifies

[Axios] Treasury bonds are becoming less special

[Axios] Hedge fund legend slams Treasury's bond buybacks

[Yahoo/Reuters] New US single-family home sales slide in July, confidence dips in August

[Yahoo/Reuters] US consumer confidence falls in August, Conference Board says

[Yahoo/Bloomberg] OpenAI Claims Its New Chips Can Outperform Nvidia Processors in Tests

[Bloomberg] VIX Curve ‘Bump’ Shows Stock-Market Anxiety Growing by Midterms

[Bloomberg] Asian Shipper Pays Record $5.3 Million for Panama Canal Access

[Bloomberg] LeBron James Borrowed $300 Million From Insurers Arranged by Guggenheim

[WSJ] Anthropic Expected to Tell Investors It Sees Over $30 Trillion in Potential Revenue

[WSJ] Fed May Need to Tighten Soon Without Progress on Inflation, Fed’s Collins Says

[FT] The drip-drip US debt crisis

[FT] America’s economic war on Iran has a China problem

[FT] ‘Embarrassing’: Republicans and ex-military leaders recoil at Trump officials’ Canada attacks