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