Houthis Signal Red Sea Shipping Tolls In Mirror Image Of Iran’s Hormuz Plan Houthis have entered the chat… Already multiple Saudi vessels have been targeted in the Red Sea region, forcing a number of tankers to U-turn, and now Yemen’s Houthis are seeking to introduce their own ‘toll system’ for the Bab el-Mandeb Strait. “Yemen’s information minister said intelligence confirmed IRGC advisers were directly involved in designing a […]

Garmin Boosts Full-Year Forecast As Wearables Earnings Jump Garmin shares jumped as much as 9.6% in premarket trading after the GPS-device maker delivered a broad beat on second-quarter earnings and raised its full-year outlook. Garmin produces GPS-enabled electronics and wearable technology across five main markets: Fitness: smartwatches, running watches, cycling computers and activity trackers Outdoor: hiking watches, […]

The Mamdani Grocery Grift: NYC Mayor Sells Taxpayers A Bill Of Goods On City-Run Stores Authored by Jonathan Turley, Last week, Mayor Zohran Mamdani’s short stint as a faux president ended with an embarrassing acknowledgment that he could not, as promised during his campaign, arrest Israeli Prime Minister Benjamin Netanyahu. So, this week, Mamdani the Grocer made a reappearance, with details on the five city-run grocery stores […]

Watch Live: Fed Chair Warsh Explains ‘Hawkish’ Hold Having delivered the biggest “non-cut” surprise to markets in decades – by holding rates unchanged (markets were pricing a 35% chance of a hike) – and given Warsh’s distaste for forward guidance, he is unlikely to offer any clearer signals during the press conference. Bear in mind that since 2015, traders have foreseen the Fed’s ultimate rate decision with an average error of […]

No Rate-Change Sparks 3 Dissents As Warsh Fed Delivers Biggest ‘Non-Cut’ Surprise In Decades Tl;dr: The Fed held rates unchanged, delivering the biggest surprise “non-cut” to the market in decades. Three dissenters wanted a rate-hike, clearly signaling the direction of travel and confirming this decision as a “hawkish hold” though arguably only marginally. *  *  * Since the last FOMC meeting on June 17th (Kevin Warsh’s first as […]

US-Owned LNG Ship Reportedly Struck By Kamikaze Drone At Egyptian Port A potentially major escalation emerged late Wednesday after a US-owned gas-processing vessel moored at Egypt’s Mediterranean port of Damietta was reportedly struck by a drone, according to Reuters, citing maritime security firm Ambrey. Details remain scant, and this assessment is preliminary. Explosion disrupts Damietta LNG hub An explosion at Egypt’s Damietta […]

Trump Invites California Teen Lifeguard Who Rescued Boy To White House Authored by Jill McLaughlin via The Epoch Times, A teen lifeguard, who heroically dove into pounding waves to save a young boy, will be honored by President Donald Trump at the White House. Lifeguards rescue boy at California beach amid intense waves “We’re going to bring this heroic young man, and his family, into the White House with, perhaps, the boy he […]

From Momentum To Mayhem: Korean ‘Plunge Protectors’ Meet As Leverage Unwind Sparks Chaos ‘Leverage goes both ways…’ That is a lesson that many are learning in a painful manner as the army that enjoyed the momentum escalator ride up are now decrying the elevator plunge lower… and the poster-child for this pain is Korea. Following anxiety over new Chinese competition, and disappointing earnings from SK Hynix overnight, Korea’s […]

FDA Panel Backs Wider Access To Six Peptide Therapies, Citing Grey Market Concerns Via American Greatness, A Food and Drug Administration (FDA) advisory panel has voted to recommend expanding legal access to six popular peptide compounds. Supporters say it could pull patients out of the unregulated grey market that has flourished under years of federal inaction. The FDA’s Pharmacy Compounding Advisory Committee reviewed seven […]

NANO Nuclear Expands Air Force Footprint With Second AFWERX Award NANO Nuclear Energy has been selected for a new AFWERX Small Business Innovation Research Phase I award, giving the company another opportunity to advance its KRONOS MMR Energy System with the Department of the Air Force. The new Phase I award is framed as a broad research and development agreement. NANO said the contract is focused on using KRONOS to “address […]

War Path Or Deal? Trump Threatens To Hit Iran ‘Hard’ As Netanyahu Meeting Details Emerge Summary Trump weighs deal, sanctions, or strikes on Iran as Saudis-US hit Iraqi militants. Tehran denies seeking talks, insists on Hormuz terms. Oil climbs as attacks on Saudi energy sites continue. Conflict widens with joint US-Saudi strikes in Iraq which killed at least 20. Will the U.S. invade Iran before 2027? Yes 25% · No 76%View […]

Ukraine’s FM Claims Attack On Iranian Ship In Caspian Sea Was ‘Unintentional’ The week started with a bizarre incident in the Caspian Sea involving an Iranian commercial vessel and the Iranian military, an episode which threatened to expand the war by merging two conflict theatres. Iran had accused Ukraine of attacking an Iranian commercial vessel by long-range drone in the Caspian Sea on Saturday, which resulted in an explosion […]

New Jersey Rejects DOJ’s Request For Records On Noncitizen Voter Registration Error Authored by Tom Gantert via The Epoch Times, New Jersey is refusing to hand over information to the U.S. Department of Justice involving a voter registration error that allowed thousands of noncitizens to register to vote in the state. The DOJ requested the full names, dates of birth, nationalities, residential addresses, and registration dates […]

WTI Holds Spike After Big Crude Draw, SPR Drain Continues As Cushing Stocks Stuck At ‘Tank Bottoms’ Oil prices are jumping higher after the U.S. military intercepted Iranian ballistic missiles aimed at American forces in Jordan. Shortly after the surprise attack, the U.S. and Saudi Arabia launched strikes in Iraq against Iran-backed groups that the Islamic Revolutionary Guard Corps previously directed to attack American troops and […]

An Interesting Divergence Is Emerging Between The Fed And Other Central Banks By Benjamin Picton, senior market strategist at Rabobank Circle Of Life Active Brent crude futures fell by almost 5% yesterday as the US extended its pause on striking Iran. Donald Trump had indicated that the lull was underway to give diplomacy another chance, claiming that the US was in “very deep talks” with Iran but that his patience for progress […]

BMW Targets 8,000 Job Cuts With New Voluntary Severance Package BMW shares in Germany are down 36% so far this year, as the automaker’s latest forecast downgrade was described by JPMorgan analyst Jose Asumendi as a “wake-up call for the auto industry.” The outlook for BMW continues to deteriorate, with Bloomberg reporting that the automaker will begin a sweeping workforce restructuring in Germany this fall. Voluntary departures […]

EssilorLuxottica’s AI Smart Glasses Revenue Nearly Doubles On Ray-Ban, Oakley Demand EssilorLuxottica shares rose as much as 4.5% in Paris before reversing course and falling 2%. The eyewear maker reported better-than-expected first-half profit margins, while revenue from its AI smart glasses nearly doubled in the second quarter, easing investor concerns over rising competition and component costs. The Ray-Ban owner, which partners […]

Idaho’s High Desert Becomes Hot Spot For Nuclear Power Revolution Authored by John Haughey via The Epoch Times, History was made with the flip of a switch at 12:30 a.m. on June 4, under partly cloudy skies and a waning three-quarter moon in Idaho’s Arco Desert, when a prototype reactor sustained a nuclear chain reaction, becoming the first new design to achieve “criticality,” or viability, in the United States since 1973. In that […]

Watch: Fauci’s Invokes 5th, Lawyer Forcibly Removed From Hearing Update (0920ET): As Dr. Anthony Fauci continues to invoke his 5th Amendment right not to incriminate himself – something we were all told he couldn’t do due to his pardon by former President Joe Biden.  The hearing kicked off at 8:30 a.m. EDT with Fauci appearing under subpoena from Chairman Rand Paul (R-KY).  Fauci’s opening statement: He invoked the Fifth […]

DOJ And Trump Ask Supreme Court To Review $83.3 Million Carroll Verdict Authored by Matthew Vadum via The Epoch Times, The U.S. Department of Justice (DOJ) asked the U.S. Supreme Court on July 28 to intervene in the defamation dispute between President Donald Trump and writer E. Jean Carroll. The DOJ is arguing in the petition in United States v. Carroll that the federal government – not Trump personally – should be the […]

Futures Rise Despite Oil Spike And Ongoing Korean Collapse, Ahead Of Fed, Meta And Microsoft US equity futures are higher, overlooking both tech-led declines in Asia which saw the Kospi crash as much as 13% and trigger a second consecutive 20 minute market-wide halt, and the 5% jump in oil prices which has pushed Brent over $88. As of 7:30am ET,  S&P 500 and Nasdaq 100 contracts are each up 0.2%, reversing sharp overnight […]

Trump Admin Asks SCOTUS To Revive Mail-In Voting Order Ahead Of Midterms Authored by AG News Staff via American Greatness, The Trump administration asked the Supreme Court on Monday to let the president’s mail-in voting executive order take effect ahead of the midterms, after a federal appeals court sided with Democrat-led states seeking to keep it blocked just months before Election Day. Trump signed the order in March, […]

Gulf Bond Boom: Record Borrowing Fuels Race To Future-Proof Against Hormuz Shutdown Gulf monarchies are hitting international debt markets at a record-shattering pace, Bloomberg figures show, amid a conflict-driven rush to harden domestic infrastructure and forge alternative supply corridors that bypass the vulnerable and effectively closed Strait of Hormuz. Added to this, just this month, Red Sea passage has become another […]

Birkin Bag Maker Plunges Most Since 2010 As Soft China Demand Weighs On Leather Sales Hermès shares in Paris suffered their steepest intraday decline in nearly 16 years after second-quarter leather goods sales missed estimates among analysts tracked by Bloomberg, reigniting concerns over the luxury group’s large exposure to the Chinese market.  Second-quarter sales in the leather goods division rose 10.2% at constant exchange […]

US Corn Conditions Suffer Sharpest Deterioration In Three Years, Fueling Food Inflation Fear Less than a week after we reported that an options whale placed a $20 million bet on corn futures, a new U.S. crop report revealed the sharpest weekly deterioration in conditions in three years. Bloomberg cites a new USDA report that rated 63% of the U.S. crop as good or excellent, down 4 percentage points from the previous week and below […]