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Erdogan Vows Continued Support for Oppressed from Gaza to Syria
Turkish President Recep Tayyip Erdogan stated Turkey will continue backing oppressed peoples across regions including Gaza, Lebanon, Somalia, and Syria, asserting that the world's eyes are on Turkey.
Stocks, Bonds Gain After Soft PPI Cools Fed Hike Bets
U.S. stocks and Treasuries rose after core PPI came in below expectations, reducing fears of near-term Fed rate hikes. The S&P 500 gained 0.4% while oil prices remained above $80 on geopolitical tensions.
Trump Says Iran Called, Wants Talks; Oil Breaks $80
President Trump claims he received a call from Iran and that Tehran wants to negotiate, as US crude prices continue to climb above $80 per barrel.
Kuwait intercepts 4 cruise missiles, 21 drones from Iran
Kuwait's armed forces intercepted four cruise missiles and 21 drones launched from Iran on Wednesday, according to the Ministry of Defence. The attack targeted vital facilities, causing material damage but no injuries.
Airbus, Boeing Reroute Parts by Air to Cut Delays
Airbus has shifted some U.S.-built A350 fuselage part shipments from sea to air, while Boeing airlifted critical parts for 767 production, both citing flexible logistics to maintain manufacturing stability.
S&P 500 Down Days Show Record Positive Breadth, Signaling Rotation
Over the last 20 S&P 500 down days, an average of 239 stocks finished positive—the highest on record and triple the 2022 bear market level. This suggests investors are rotating rather than exiting equities.
WTI Holds Near One-Month Highs on Hormuz Supply Risks
West Texas Intermediate crude oil consolidates around $78.70, staying close to a one-month high as Middle East tensions keep the Strait of Hormuz supply disruption risk in focus.
Fed Beige Book: Prices Rose Moderately Across Most Districts
The Federal Reserve's Beige Book reports moderate price increases in nine districts, with two districts seeing robust growth and one slight. Price growth was the same or slower than the prior period in all districts.
Fed Beige Book: U.S. Economy Expanded at Slight to Moderate Pace
The Federal Reserve’s Beige Book reported that U.S. economic activity grew at a slight to moderate pace across most districts, with contacts anticipating continued growth despite uncertainty over elevated fuel costs. Employment rose overall, though gains varied by district.
Iran’s Top Negotiator Qalibaf Says Enemy Strategy Unchanged
Iran’s top negotiator, Mohammad Qalibaf, stated that the enemy’s strategy has not changed and that Iran’s approach in war or negotiation must be based on national interests, security, realism, and a long-term vision.
Semiconductor Stocks Lead S&P 500 Gains Over Past Six Months
Micron, AMD, Apple, Intel, Broadcom, Nvidia, and Sandisk have together contributed over 4.5 percentage points to the S&P 500's 8% gain in the last six months, with Micron alone adding 1.4 percentage points.
Fed's Cook Sees Disinflation but Warns of Persistent Price Pressures from Tariffs, Middle East, AI
Federal Reserve Governor Lisa Cook said disinflation is expected but risks remain from tariffs, Middle East conflict, and AI investment, while emphasizing that inflation expectations depend on appropriate monetary policy.
Fed's Cook: Prudent to Wait on Inflation, but Prepared to Act if Needed
Federal Reserve Governor Lisa Cook said it is prudent to wait 'a bit more time' for inflation to slow, but she is prepared to act if it does not occur 'soon.' She noted a shift in risks toward higher inflation and away from the labor market.
Trump Slams New York for Halting Data Center Projects, Says Jobs and Taxes Lost to Other States
President Donald Trump criticized New York Governor Kathy Hochul for terminating all data center construction in the state, claiming the move drives companies and economic benefits to other states like Alabama, Florida, Texas, and Arizona.
White House Official: No Netanyahu Meeting on Trump's Schedule Next Week
A senior White House official says no meeting with Israeli Prime Minister Netanyahu is currently scheduled on President Trump's calendar for next week, according to an Axios reporter.
US CENTCOM Denies Wheat Strike, Confirms Attacks on Iranian Military Sites in Hormuz
The US Central Command denied targeting a wheat storage facility and confirmed that on July 14, US forces struck Iranian military locations to weaken Iran's ability to threaten commercial shipping in the Strait of Hormuz.
BofA Survey Shows Institutional Investors Rush Into US Stocks; Cash Levels Near 13-Year Low
A Bank of America survey of 181 managers with $484 billion in assets shows cash allocations fell to 3.6%, near a 13-year low. Net overweight US equities hit 24%, the highest since December 2024, while 82% call long global semiconductors the most crowded trade for the third month.
Bank of Canada Keeps Q2 Output Gap, Neutral Rate Unchanged
The Bank of Canada estimates Q2 output gap between -1.5% and -0.5%, unchanged from April. Potential output growth for 2026 revised to 1.1% from 1.2%, while neutral interest rate midpoint remains at 2.25%-3.25%.
Bank of Canada Cuts 2026 Growth Forecast to 0.7%, Raises Near-Term Inflation Outlook
The Bank of Canada has revised its growth and inflation projections, cutting its 2026 GDP forecast to 0.7% from 1.2% while raising 2027 and 2028 estimates. Inflation is expected to average 2.5% in 2026, up from the previous 2.3%.
Fed Rate Hike Odds Plunge to 4% After Record PPI Drop
The probability of a Federal Reserve rate hike in July has fallen to a new low of 4% following the largest monthly decline in US Producer Price Index (PPI) since April 2025. Both headline and core PPI were also revised lower for May.
Fed's Williams: Economy Solid, Absorbing Middle East Risks Well
New York Fed President John Williams stated that U.S. economic growth is solid and on trend, with the labor market similarly stable, and while Middle East conflict poses significant risks, the economy has absorbed them fairly well so far.
Fed's Williams: AI Investment Impact Uncertain; Middle East Risk Persists
Federal Reserve's John Williams said the full economic effects of the AI investment surge on growth, employment, and inflation are hard to predict. He also noted ongoing supply disruptions from the Middle East conflict pose a risk to both growth and inflation outlooks.
Fed's Williams: Inflation to Fall to 3.25% by Year-End, 2% by 2028
New York Fed President John Williams expects overall inflation to decline to around 3.25% by the end of this year, then continue toward the 2% goal, reaching it by 2027 and landing on target in 2028. He also said medium- and longer-term inflation expectations remain well anchored.
China Q2 GDP growth slows to 4.3%, below target range – Standard Chartered
Standard Chartered economists note China's Q2 GDP growth slowed to 4.3% year-on-year, falling below the 4.5–5.0% target range, with domestic demand remaining weak.