TRUMP MEDIA SELLS EARLY ACCESS TO MARKET-MOVING POSTS
Trump Media is reportedly charging trading firms up to $1.2 million annually for faster access to President Trump’s Truth Social posts.
The service could carry significant market value: a recent Trump post canceling planned Iran strikes helped send WTI crude down roughly 5% in one session.
The arrangement is drawing scrutiny over the advantage traders could gain from receiving potentially market-moving presidential announcements early.
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$NVDA - US REVIEWS CHINA’S OFFSHORE NVIDIA CHIP ACCESS AFTER AI GAINS
TRUMP: I DON’T WANT TO SEE CHINA WIN WITH AI
Trump: I'm involved in the negotiations with Iran, deal could be soon
TRUMP: DON'T THINK IRAN CAN GO MUCH LONGER
TRUMP: STRAIT IS 'SORT OF' OPEN RIGHT NOW
Trump: We need more ammunition
TRUMP ON MUNITIONS SUPPLY: WE'RE IN GREAT SHAPE
Trump on Zelenskyy wanting missiles: Well, we want missiles too
Trump: We're working on Russia-Ukraine conflict, and i think we are making progress
TRUMP ON MUNITIONS SUPPLY: WE HAVE UNLIMITED SUPPLY
EY: FED LIKELY TO STAY ON HOLD THROUGH YEAR-END
EY-Parthenon expects the Fed to keep interest rates unchanged through year-end, even after Friday's jobs report.
Wall Street expects July payrolls to rise 83K, but EY says the labor market remains stable and is unlikely to shift the Fed's focus.
The firm says only broader, more persistent inflation or a meaningful reacceleration in hiring would justify further rate hikes.
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GHALIBAF: 'THEATER DIPLOMACY' WON'T WORK
Iranian Parliament Speaker Ghalibaf criticized U.S. tactics, saying:
“Massive attack coming… wait, never mind, they want to negotiate.” That’s theater diplomacy on loop.
He added:
“Using bullying + broken promises + fake news as leverage is a failed strategy. Acknowledge the facts and fulfill your commitments. We don’t need more theater.”
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JAPAN TO WEIGH CHANGES TO PROPRIETARY TRADING CAP AS VOLUME SOARS - NIKKEI
*US CONSIDERS DELAYING COLLECTION OF PLANNED POLYSILICON TARIFFS
BOFA: LOWER-INCOME JOBS, WAGES OUTPACE HIGHER EARNERS
Bank of America says the U.S. labor market is moving beyond the "K-shaped" economy.
Lower-income households saw 3% YoY job growth in July versus 1% for higher-income workers, while after-tax wage growth reached 5.2%, topping 4.2% for higher-income households for the first time since December 2024.
BofA says stronger wage gains, alongside solid productivity growth, support consumer spending without necessarily increasing inflation.
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TRUMP TO SPEAK WITH SAUDI CROWN PRINCE ON IRAN
President Trump is expected to hold a phone call with Saudi Crown Prince Mohammed bin Salman to discuss Iran, according to U.S. officials.
Saudi Arabia has played a key role in efforts to de-escalate Gulf tensions and was among the countries urging the U.S. to give diplomacy another chance instead of launching strikes on Iran.
The kingdom also faces ongoing security threats from Iran-backed Houthi attacks.
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CFRA RAISES S&P 500 TARGET TO 8,050
CFRA lifted its 2026 S&P 500 year-end target to 8,050 from 7,400, implying about 4% upside from current levels.
The firm also sees the index reaching 8,650 in 2027, citing strong earnings, resilient consumers, easing oil prices, AI investment, and favorable midterm election seasonality.
CFRA joins a growing list of Wall Street firms turning more bullish on U.S. equities.
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U.S. SAUDI OIL IMPORTS FALL TO ZERO
U.S. imports of Saudi crude fell to zero in July for the first full month since 1985, as Gulf supply disruptions forced refiners to find alternatives.
U.S. refiners cut Middle East purchases amid the Hormuz conflict, with Venezuela emerging as a key replacement, boosting exports to the U.S. to around 600,000 bpd.
Saudi crude imports are expected to rebound to about 300,000 bpd this month, according to Kpler.
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U.S. PENDING HOME SALES HIT 5-MONTH LOW
U.S. pending home sales fell to a five-month low as elevated mortgage rates kept buyers on the sidelines.
Pending sales dropped 3.7% W/W and 1.9% Y/Y to 311,150, the lowest level in over five months.
The average 30-year mortgage rate rose to 6.69%, while mortgage purchase applications fell 4% W/W.
Despite weaker demand, the median home sale price increased 2.9% Y/Y to $406,362.
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