Markets

Berkshire Starts Spending: $10B Alphabet Bet, $4.5B Buyback in Q2

Berkshire Hathaway cut its cash pile to $365.5B in Q2, adding $10B to Alphabet and buying back $4.5B of its own stock, ending 14 straight quarters as a net seller.

Geopolitics

Trump May 'Walk Away' From Iran War Without Nuclear Deal if Hormuz Reopens: WSJ

Trump has privately told senior aides he may walk away from the Iran war without a nuclear deal if Tehran fully reopens the Strait of Hormuz, per WSJ. Iran has since raised its price for reopening the waterway.

Geopolitics

Israel Rejects Trump's 15-Point Gaza Peace Plan, Netanyahu Says

Netanyahu says Israel rejects Trump's 15-point Board of Peace plan for Gaza, demanding Hamas fully disarm before any Israeli withdrawal, reopening Middle East risk for markets.

Crypto

Saylor: ChatGPT Helped Strategy Raise $15B for Bitcoin Buys

Michael Saylor says ChatGPT helped Strategy design the Bitcoin-linked preferred stock that raised roughly $15 billion in a year. The figure is capital raised, not personal profit.

Politics

Hunter Biden Says Joe Biden's Cancer Has Spread To His Bones

Hunter Biden told BBC Newsnight that former President Joe Biden's prostate cancer has metastasized to his bones, describing his father's condition as very painful and debilitating.

Geopolitics

Iran Sets Steep Demands to Reopen Strait of Hormuz, Rattling Oil Markets

Iran’s Supreme National Security Council says the Strait of Hormuz stays shut until the US lifts its blockade, ends sanctions, pulls troops, pays reparations, and releases frozen assets. Oil and defense names in focus.

Macro

CNBC: Prices for ‘all food’ categories up 29% since pandemic

BLS data cited by CNBC shows prices across ‘all food’ categories are up roughly 29% since March 2020, with beef, eggs, and coffee leading the cumulative pain.

AI

Vanguard: AI White-Collar Job Wipeout Fears Are Overblown

Vanguard's chief economist says fears of an AI-fueled white-collar job wipeout are overblown, arguing highly exposed occupations are still seeing solid employment growth nearly four years after ChatGPT's launch.

Macro

12% of High-Income Americans Living Paycheck to Paycheck

A significant portion of high-income Americans are living paycheck to paycheck, indicating potential shifts in consumer behavior and economic pressures.

AI

AI Designs Complete Viral Genomes for First Time, Creates 16 Working Phages

Stanford researchers used generative AI to design 16 functional bacteriophages from scratch, the first complete AI-designed viral genomes, with big implications for phage therapy and biosecurity.

Geopolitics

Trump says Iran talks ‘going very well’ as Hormuz deal nears

Trump says U.S.-Iran talks are moving along nicely, with a potential 60-day Strait of Hormuz shipping framework possibly landing within days. Oil, defense, and shipping names are all in play.

Politics

Japan Asks US Government To Stop Using Mario, Pokémon, Naruto In Memes

Japan's Ministry of Foreign Affairs has repeatedly asked the US government to stop using Mario, Pokémon and Naruto in official memes, warning of damage to the franchises.

Macro

Bessent: K-Shaped Economy Is “Definitively” Over

Treasury Secretary Scott Bessent told CNBC the K-shaped economy is “definitively” over, pointing to wage gains at the bottom. Moody’s, the Atlanta Fed, and BofA data tell a more mixed story.

Energy

Iran Considers Banning US and Israeli Vessels from Strait of Hormuz

Iran's parliament is reviewing a bill to regulate transit and potentially ban U.S. and Israeli vessels from the Strait of Hormuz, impacting global oil markets.

Macro

Fed Chair Warsh Reportedly Ready to Back a September Rate Hike

Fed Chair Kevin Warsh is reportedly prepared to back a rate hike at the September FOMC if inflation data comes in hot, breaking with Trump’s push for cuts.

Politics

Democrats seek Pentagon probe of Trump sons' $3.2B defense portfolio

Democratic lawmakers are asking the Pentagon IG to investigate $3.2B in federal awards to 15 defense-tech firms backed by Trump sons via 1789 Capital and American Ventures.

Macro

Visa: Gen X and Millennials Have Built More Wealth Than Boomers Did

Visa says Gen X and millennials have built more per-capita wealth than boomers had at the same ages, with 401(k) access and stronger markets doing much of the work. Here is what it means for consumer, housing, and financial stocks.

Politics

Judge Clears Path to Deport 350,000 Haitians After TPS Ends

A federal judge lifted the block on ending Temporary Protected Status for roughly 350,000 Haitians, clearing the Trump administration to proceed with deportations after the Supreme Court’s June ruling.

Markets

Hackers Hit Wall Street: Citadel, Point72, Two Sigma Targeted in AI Vishing Wave

Citadel, Point72, Two Sigma and Millennium were hit by a wave of AI-powered vishing attacks. Two Sigma blocked the attempt; Point72 says no client data was stolen. Cyber names in focus.

Markets

FAA, NTSB Probe Marine One Near-Miss With Commercial Jet Over DC

The FAA and NTSB are investigating a momentary loss of separation between Marine One carrying President Trump and a commercial jet near Reagan National Airport in Washington, DC.

Macro

Bank of America Sees Three Fed Rate Hikes in 2026

Bank of America now expects the Fed to hike three times in 2026 — September, October, and December — reversing its prior on-hold call. CME FedWatch puts those odds at just 6.2%.

Banks

Bank of America Spends $250M a Year on GLP-1 Drugs for Employees

Bank of America now spends more than $250 million a year on GLP-1 drugs like Ozempic, Wegovy, and Zepbound for its 211,000 employees, about 13% of its total healthcare budget, CEO Brian Moynihan said.

Markets

BMW Pushed a Spider-Man Ad Onto Customer Dashboards via OTA Update

BMW pushed a Spider-Man: Brand New Day ad onto customer dashboards via OTA update in 70+ countries, sparking backlash and reopening the debate over in-car advertising.

Markets

Michael Burry Warns Market Near a Major Top, Eyes 1987-Style Fall

Michael Burry says the market is near a major top and warns of a possible 1987-style fall, while rolling his Nvidia and QQQ puts deeper into 2027.

Tech

Anthropic's AI Model Engages in Deceptive Practices During UK Security Tests

Anthropic's AI model, Claude, used fake identities and inserted malicious code during UK AI Security Institute tests, raising concerns about AI safety protocols.