Market news
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US pushback against Flock surveillance cameras gathers pace as Massie targets funding
A growing US movement opposes Flock surveillance cameras, with Rep. Thomas Massie proposing to strip federal funds from jurisdictions using them. Local authorities and police departments are reviewing deployments amid privacy and abuse concerns.
Eurozone Q2 GDP grows 0.4%, double forecasts, but Iran conflict poses risk
The Eurozone economy expanded 0.4% quarter-on-quarter in the second quarter, twice the expected pace, though the Iran conflict remains a key growth risk.
Burnham: Social care funding as unfair as US healthcare, new approaches needed
Mayor Andy Burnham criticized the current social care funding model as extremely inequitable, likening it to the US healthcare system. He suggested exploring alternative payment methods.
Australian eSafety Regulator Sues Telegram Over Failure to Remove Terrorist Content
Australia's eSafety Commissioner has filed a civil penalty suit against Telegram, alleging the platform failed to detect and remove terrorist-propagating materials under the country's online safety laws.
US GDP Expected to Grow 2.1% in Q2 Despite Iran Conflict
The US Bureau of Economic Analysis will release its preliminary Q2 GDP estimate on Thursday, with analysts forecasting an annualized 2.1% expansion, suggesting the economy remains resilient to geopolitical tensions.
US HIMARS in Kuwait Fire ATACMS and PRSM Missiles at Southern Iran
US Army HIMARS launchers based in Kuwait launched ATACMS and PRSM missiles overnight, striking multiple targets across southern Iran with reported impacts near Abadan, Ahvaz, Bushehr, Kish Island, and Bandar Abbas.
Fed On-Hold Decision Pushes 30-Year Yield to 5.20%, Weighing on Equities
Deutsche Bank reports that the Federal Reserve’s decision to hold rates, coupled with limited forward guidance from Chair Warsh, steepened the Treasury curve and sent the 30-year yield to 5.20%, pressuring equity markets.
WTI Oil Jumps Past $84 as US Resumes Strikes in Iran
West Texas Intermediate crude surged above $84 per barrel on Thursday, gaining around 7% over two days, after the US resumed military strikes against Iran.
Fed Holds Key Rate at 3.5-3.75%, Notes Inflation Remains Above Target
The U.S. Federal Reserve left its benchmark interest rate unchanged at 3.5-3.75%, in line with market expectations. The regulator noted that inflation remains above its 2% target due to supply shocks.
US Launches Strikes on Iran’s Qeshm Island in Retaliation
US Central Command initiated strikes against Iran late Wednesday, targeting Qeshm Island, in response to prior Iranian missile attacks on US forces.
US Leads Major Economies with 51% Five-Year Business Survival Rate
Data from Apollo shows 51% of US businesses survive at least five years, compared to 46% in the EU, 38% in the UK, and 37% in Germany, reflecting a more supportive business environment.
WTI Slips Below $83 as Profit-Taking Offsets Mideast Risks
WTI crude oil fell to around $82.80 in early Asian trading on Thursday, pressured by profit-taking despite ongoing Middle East tensions.
Todd Blanche’s AG Nomination Stalls Over Trump Tax Lawsuit Demands
A planned committee vote on Todd Blanche’s nomination as U.S. attorney general was scrapped after key Republicans demanded more clarity on the settlement of President Trump’s lawsuit against the IRS.
Treasury Curve Steepens as Fed Holds Rates, 30-Year Yield Hits 2007 High, Dissenters Push for Hike
The U.S. Treasury yield curve steepened after the Federal Reserve left rates unchanged, pushing the 30-year yield to its highest since 2007. Three FOMC members dissented in favor of a rate hike, while the dollar weakened for a fifth consecutive day.
Equal-Weight Nasdaq 100 on Track for Record Underperformance vs S&P 500
The equal-weighted Nasdaq 100 is underperforming the S&P 500 by 6.8 percentage points in July, set for its worst relative month on record, as investors rotate out of tech stocks at an unprecedented pace.
FOMC Hold: Three Hawks Dissent as Rates Stay Unchanged
The Federal Reserve held interest rates steady in a 9-3 split decision, with Hammack, Logan, and Kashkari dissenting in favor of further tightening, matching earlier forecasts.
Houthis Weigh Fees on Red Sea Shipping
Yemen's Iran-backed Houthi rebels are reportedly considering imposing fees on commercial vessels passing through the southern Red Sea, following a naval blockade on Saudi Arabia.
ASIC Moves to Boost Transparency of Listed Entity Ownership
Australia’s securities regulator is working with market operators on a new web portal for substantial holding disclosures and has introduced an index-based register format.
Trump Vows Heavy Strikes on Iran After 'Surprise Attack'
President Trump stated he will order heavy strikes on Iran following a reported overnight attack on U.S. forces, according to Bloomberg.
Anduril Produces First YFQ-44A Autonomous Combat Drone at New Ohio Factory
Anduril has completed its first YFQ-44A autonomous aircraft just four months after production began at the newly built Arsenal-1 facility in Ohio. The drone is part of the U.S. Air Force's Collaborative Combat Aircraft program, designed to fly alongside piloted fighters.
BAE Systems Wins £5.9bn UK Contract for Dreadnought Nuclear Submarines
BAE Systems has secured a £5.9 billion ($7.8 billion) UK government contract to continue developing the Dreadnought-class nuclear submarines, part of an £8.4 billion defense funding package for the nation's continuous at-sea deterrent.
U.S. to Release $600 Million to GAVI, Reaffirms No WHO Funding Through Alliance
The U.S. State Department said it will immediately release $600 million in appropriated funds to GAVI for fiscal years 2025 and 2026, while confirming it will not channel government money to the World Health Organization via the vaccine alliance.
Tokenized Equity Holders Hit Record 759K, Surge 92% in 30 Days
The total number of onchain tokenized equity holders reached an all-time high of 759,000, marking a 92% jump in the past month and a 522% increase year-to-date.
Microsoft CFO Says Cloud Demand Exceeds Capacity, Lifts Revenue
Microsoft’s CFO reported during an earnings call that customer demand for cloud services continues to outstrip available capacity. Revenue growth was supported by the earlier rollout of new capacity that was rapidly monetized.