Wednesday's News Links

[CNBC] S&P 500 and Dow tick higher after record day on Wall Street: Live updates

[Reuters] Gold scales one-month peak as US-Iran peace hopes ease inflation worries

[Yahoo/Reuters] Oil prices rebound after Houthis say they attacked Saudi tanker

[Yahoo/Bloomberg] Tech Melt-Up Drives $3.5 Trillion Nasdaq 100 Gain in Four Days

[Yahoo/Bloomberg] Carry Trade Is Powering On as Investors Sidestep Yen’s Gains

[Yahoo/Bloomberg] Trump Fuels Hopes of Hormuz Reopening With Hints a Deal is Near

[AP] Trump says deal to reopen the Strait of Hormuz could come as early as Wednesday

[Reuters] Gulf shipping traffic steady amid uncertainty of peace talks

[CNBC] Fed’s Kashkari says ‘now is the time to start slowly moving’ rates up

[Reuters] Fed's Kashkari: Communicating Fed's reaction function is helpful

[Yahoo Finance] Kansas City Fed's Schmid favors higher rates to bring down inflation

[CNBC] Manufacturing survey shows inflation worries ‘worse than pandemic era,’ adding to Fed pressure

[CNBC] Private companies added just 44,000 workers in July, below expectations, ADP reports

[Yahoo/Bloomberg] US Mortgage Rates Rise to 6.81%, Highest Level in a Year

[Reuters] Defense startups raid auto and fracking sectors for parts to speed weapons output

[Reuters] Hedge fund Millennium looks to raise record $20 billion in new capital, source says

[Yahoo/Bloomberg] Pentagon War Game Exposed a Critical US Aluminum Risk Months Before Iran Attacks

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

[Bloomberg] Yemen’s Houthis Say They’ll Target Tankers in Northern Red Sea

[Bloomberg] Kevin Warsh Has Some Explaining to Do

[Bloomberg] US Signals Steady Debt Sales to 2027, Offers ‘Subtle Change’

[Bloomberg] Why Do Data Centers Use So Much Fresh Water?

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

[Bloomberg] Private Capital Rushes to Fund AI Buildout in Emerging Markets

[Bloomberg] China’s Services Gauge Hits Two-Year Low as Firms Turn Cautious

[Bloomberg] Record El Niño Threatens Fragile Economies Squeezed by War

[Bloomberg] As the Danube Hits Record Lows, Every Centimeter of River Counts

[NYT] An Angry Trump Struggles to Understand Iran’s Defiant Leaders

[WSJ] Iran Is Staking Everything on Controlling the Strait of Hormuz

[WSJ] AI Just Went Rogue Again. This Time It Turned to Deception.

[WSJ] The Investing Heavyweights That Backed Situational Awareness Before It Blew Up

[WSJ] Bankers Are Betting on Supersize Bonuses This Year With Profits Surging

[FT] Donald Trump trapped between escalation and an Iran deal on Tehran’s terms

[FT] China hits back at US with sanctions and tighter drone export rules

[FT] Remember when the US Treasury caused that major yen rally in ‘98?

Tuesday Evening Links

[CNBC] S&P 500 futures are little changed after massive rally lifts index to fresh record: Live updates

[Yahoo/Bloomberg] Oil Holds Two-Day Drop on Signs of Progress Toward Hormuz Deal

[AP] US stocks hit records as profits keep piling up for Palantir and others, while oil prices ease

[AP] Iran and Oman are working on a plan to reopen the Strait of Hormuz, and other Mideast developments

[AP] US job openings slip to 7.4 million, but labor market remains resilient in face of fighting in Iran

[Yahoo/Bloomberg] OpenAI Says Models Breached Boundaries During Outside Testing

[Bloomberg] Scott Bessent Draws on Hedge Fund Instincts to Help Rescue Yen

[Bloomberg] Fed’s Schmid Says Tighter Policy Needed to Reduce Inflation

[Bloomberg] Whale Rock Sank 22% as AI Selloff Crippled Hedge Fund Returns

[NYT] Warsh Wanted ‘Regime Change.’ A Reset Might Need to Come First.

[FT] Trump administration refunds $100bn in ‘liberation day’ tariffs