Thursday's News Links

[CNBC] Dow tumbles as Brent crude tops $100, Alphabet and Tesla drop: Live updates

[CNBC] Alphabet and Tesla test Wall Street’s patience as AI spending overshadows growth

[Reuters] Oil extends gains after Houthi attack on Saudi tankers worsens oil supply disruption

[Bloomberg] US Treasury Yields Rise to 2026 Highs as Oil Gains Spark Fed Bet

[Yahoo/Bloomberg] German Bond Yields Hit 15-Year High as Oil Spikes

[AP] Yemen’s Houthis attack Saudi tankers in the Red Sea, threatening to widen Iran war

[AP] A new threat by Yemen’s Houthis could widen the Iran war and put another trade chokepoint at risk

[Axios] U.S. deploys B-1 bomber as attacks on Iran intensify

[Reuters] Houthis say they attacked Saudi tankers in the Red Sea, threatening new chokepoint in Iran war

[AP] US filings for unemployment aid fall to 187,000 last week, fewest since 1969

[Yahoo/Reuters] Alphabet's cash burn raises alarm for Big Tech as AI spending climbs

[Axios] AI's alarming new skill: breaking out of the test lab

[Yahoo/Bloomberg] Hedge Funds’ Favorite US Bond Trade Is Sputtering

[Reuters] US investors rethink bonds' role as inflation reshapes portfolios

[Politico] ‘We’re getting into an ugly phase’: Trump’s new tariffs are angering voters and US allies alike

[AP] Europe’s central bank holds rates steady amid swings in oil prices

[Reuters] China begins two days of live-fire drills in Taiwan Strait

[Bloomberg] Alphabet Investors Sound a Warning for Profligate AI Spending

[Bloomberg] The Most Fundamental Macro Risk Is Back

[Bloomberg] Trump Allies Eye SVB Review as Path to Oust a Fed Governor

[Bloomberg] Asia Hedge Funds Hurt by July Selloff After Strong First Half

[Bloomberg] South Korea’s Economy Beats Estimates as Chip Boom Continues

[Bloomberg] War Raises Coal-Fired Power Usage, Defying Outlook for Plateau

[NYT] Iran War Live Updates: Iran Digs In After Latest Trump Threat on Civilian Targets

[NYT] Global Oil Price Hits $100 a Barrel for First Time Since May

[NYT] Diesel Crisis Puts Poor Farmers Around the World at Risk

[WSJ] Trump Says Iran Will Be Held Responsible for Future Houthi Attacks

[WSJ] The Fed Is Heading Into One of Its Most Unpredictable Meetings in Years

[WSJ] Google’s AI Spending Spree Has Investors Nervous

[WSJ] What Surging Bond Yields Mean for Consumers and Markets

[WSJ] Carney Has Tried the Carrot and the Stick With Trump—but Neither Is Working

[FT] Oil price surge drives global bond sell-off

[FT] European Central Bank holds interest rates at 2.25% after debating rise

[FT] Iran-backed Houthis attack two Saudi Arabian oil tankers

[FT] Houthi attacks threaten Saudi Arabia’s oil lifeline

[FT] US oil refineries run at breakneck speeds as wars choke fuel supplies

[FT] Japan awakes

Wednesday Evening Links

[CNBC] Stock futures slip as investors eye more earnings; Alphabet falls on higher capex outlook: Live updates

[Bloomberg] Oil Jumps After Houthis Attack Two Saudi Tankers in the Red Sea

[AP] US military says it’s carrying out strikes on Iran as both sides threaten civilian infrastructure

[AP] House Republicans adopt $95 billion package for the Iran war and Trump’s priorities

[Reuters] Iran strikes on CIA facilities prompt questions about possible Russian role

[Yahoo/Bloomberg] Warsh Leaves Bond Traders in the Dark on Next Week’s Rate Move

[AP] OpenAI blamed a hacking event on its AI models going rogue. Here are some things to know

[Reuters] One of Arizona’s largest reservoirs has nearly disappeared

[WSJ] Trump Says U.S. Will Bomb Iran’s Power Plants, Bridges if Tehran Strikes Ships

[WSJ] U.S. Surges Forces Toward Middle East, Giving Trump Options to Expand Iran War

[FT] OpenAI hacking incident exposes mounting risks in AI arms race

Wednesday Afternoon Links

[CNBC] S&P 500 little changed as traders monitor rising oil prices, gear up for more earnings: Live updates

[CNBC] Oil prices rise after Rubio says Iran is not serious about a deal

[Yahoo Finance] Bond yields rise as elevated oil prices reignite threat of 'renewed pressure on inflation'

[AP] Trump says US will destroy a bridge or power plant for each Iranian attack in the Strait of Hormuz

[CNBC] Houthis deploy missiles and drones to attack ships in southern Red Sea, naval group says

[Reuters] More ships change course in Red Sea after Houthi threats, data shows

[Axios] The trade-offs of a quieter Fed chief

[Bloomberg] US Goes All-In on Diesel Production Amid Growing Global Shortage

[Bloomberg] Warsh Confuses Traders, Makes Them Guess Next Week’s Rate Move

[Bloomberg] Retiree Health Costs Spike 7.5% in Latest Estimate From Fidelity

[Bloomberg] Texas, Louisiana Face Searing Heat Wave Exacerbated by Storm

[Bloomberg] Heat and War Deal Europe’s Grain Harvest Biggest Blow in Decades

[NYT] Trump’s Trade Negotiator Doubles Down on Tariffs Before Global Duties Expire

[NYT] Stocks and the Economy Are Increasingly Relying on the A.I. Boom

[WSJ] Global Economy Is Suddenly Fighting an Energy Stranglehold on Three Fronts

[FT] OpenAI admits AI ‘agent’ caused major cyber breach by itself

[FT] Pakistan seeks $10bn US facility to shore up reserves