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Nation
U.S. Launches 11th Consecutive Night of Strikes on Iran -- Rubio Says Iran "Not Serious" About Talks; Pakistan Mediators Press On
The U.S. military completed its 11th straight night of airstrikes on Iran early Wednesday, hitting cities including Iranshahr, Bandar Abbas, Konarak, Chabahar, and Bushehr; Secretary of State Rubio told ASEAN foreign ministers Iran is "not serious about talks," even as Pakistan presses ahead with mediation efforts in Islamabad.
Sources: NPR · Al Jazeera · CNBC · AP
Rubio at ASEAN: U.S. "Would Love a Diplomatic Settlement" -- But Vows to Keep Protecting Hormuz; Iran Parliament Speaker Fires Back
Speaking at the ASEAN Foreign Ministers' summit in the Philippines, Rubio said the U.S. wants a deal but insisted any agreement must guarantee free Hormuz passage and prevent Iran from nuclear weapons development; Iran's parliament speaker responded that the strait "will only open with Iranian arrangements, not American threats."
Sources: CNBC · NPR · Al Jazeera · Reuters
Trump Threatens to Bomb Iranian Bridges and Power Plants Again -- Demands Complete Hormuz Access; Congress Grilled Hegseth on War Cost
President Trump renewed his threat to destroy Iranian bridges and power plants Wednesday, telling reporters the U.S. will do "what is necessary" unless Iran fully reopens the Strait of Hormuz; Defense Secretary Hegseth faced sharp congressional questioning on the war's rising cost and strategic endgame.
Sources: NBC News · CNBC · AP · Reuters
Iran Strikes U.S. Facilities in Jordan, Bahrain, Kuwait -- Kuwait Intercepts Iranian Drones; Caspian Pipeline Terminal Also Hit
Iran retaliated overnight Wednesday with strikes on U.S. military facilities in Jordan, Bahrain, and Kuwait; Kuwait's military intercepted Iranian drones over its airspace, and a separate attack hit the Caspian Pipeline Consortium terminal in the Black Sea, adding fresh disruption to global energy supply routes.
Sources: NBC News · CNBC · Trading Economics · AP
Trump Administration Seeks Billions in Emergency War Funding From Congress -- Iranian Foreign Minister: "America Hasn't Learned That Bullying Is No Longer Cost-Free"
The Trump administration formally requested emergency supplemental funding from Congress to sustain the Iran campaign; Iranian Foreign Minister Abbas Araghchi warned Wednesday that "America still hasn't learned that bullying and breaking promises are no longer cost-free," as the war enters its third week with no off-ramp in sight.
Sources: NPR · Al Jazeera · CNBC
World
Alphabet Q2 Blowout -- EPS $9.11, Revenue $119.8B, Cloud +82% YoY to $24.77B; Shares Flat After Hours as $190B Capex Raises Margin Questions
Alphabet reported Q2 EPS of $9.11 and revenue of $119.8 billion, topping estimates of roughly $116.9 billion; Google Cloud surged 82% year-over-year to $24.77 billion, ahead of the $24.56 billion estimate, with ad revenue at $81.63 billion; shares were flat after hours as investors weighed the $180-190 billion capex commitment.
Sources: Yahoo Finance · CNBC · CryptoBriefing · AP
Tesla Reports Tonight After Close -- Record 480K Q2 Deliveries Already Known; Margin and AI Capex Are the Real Questions
Tesla posts Q2 results tonight at 5:30 p.m. ET with Wall Street consensus near $26.4 billion in revenue and $0.54 EPS; investors already know it delivered 480,126 vehicles (+25% YoY), a record Q2, so the call will center on automotive gross margins and Robotaxi, Optimus, and FSD capital spending intensity.
Sources: Electrek · CNBC · Indmoney · TradingKey
IBM Full Q2 Conference Call Tonight at 5 p.m. ET -- Guidance, Organic Growth, and Securities Fraud Investigation in Focus
IBM's full Q2 conference call tonight will go beyond the July 14 pre-announced miss ($17.2B revenue, $2.93 EPS) to cover full-year guidance, organic software growth ex-Confluent, and the securities fraud investigation into alleged pipeline manipulation -- the items Wall Street considers the real credibility test for CEO Arvind Krishna.
Sources: TradingKey · IndMoney · StockTitan · CNBC
Brent Settles at $94.07 -- Up 3.4%, Highest Since June 8; Oil Up 20%+ This Month; Analysts See Path to $100
Brent crude settled at $94.07 Wednesday -- its highest close since June 8 and up more than 20% this month -- after the 11th night of U.S.-Iran strikes and Rubio's "not serious" comment on talks; energy analysts said $100 Brent is possible if Hormuz crossings remain suppressed through August.
Sources: CNBC · NBC News · Trading Economics · Quartz
Technology
Alphabet Cloud +82% YoY to $24.77B -- Backlog $514B; Google Revenue +24% to $119.8B; Capex Guidance $180-190B
Alphabet's Q2 print confirms Google Cloud is now the company's fastest-growing unit at +82% year-over-year, with a $514 billion cloud backlog -- nearly double last quarter's figure; Alphabet's $180-190 billion capex guidance for 2026 is the key margin pressure point Wall Street will interrogate on tonight's 4:30 p.m. ET call.
Sources: CNBC · Yahoo Finance · IG International · CryptoBriefing
Reddit Slides 9% -- WSJ Reports Company Discussed Cutting Off Google's Access to Its Data; AI Content Licensing at Risk
Reddit shares fell 9% Wednesday after the Wall Street Journal reported the company had discussions about severing Google's access to Reddit's data for AI training, raising questions about the durability of Reddit's lucrative content licensing agreements with major AI companies.
Sources: CNBC · Wall Street Journal · Yahoo Finance
Amazon Lays Off Employees in AGI Division -- Company Sharpening Focus on "Initiatives That Matter Most for Customers"
Amazon is eliminating roles in parts of its AGI organization Wednesday, the company said in a statement, citing a sharpening of focus on key AI priorities; Amazon reports Q2 earnings July 30 after close, with AWS growth and AI monetization the central investor questions.
Sources: CNBC · Yahoo Finance
Intel Reports Tomorrow -- First Quarter Under New CEO Lip-Bu Tan; Restructuring Plan and AI Foundry Strategy in Focus
Intel reports Q2 2026 results Thursday in one of its most closely watched quarters in years as new CEO Lip-Bu Tan is expected to lay out a restructuring plan for the struggling chipmaker; investors will scrutinize the foundry business trajectory and any update on the company's path to manufacturing competitiveness.
Sources: CNBC · Seeking Alpha · Reuters
Business & Markets
S&P -0.14%, Nasdaq -0.57%, Dow -0.01% Wednesday -- Oil Surge and Megacap Jitters Offset Alphabet Beat; Nvidia +3%
U.S. stocks closed nearly flat Wednesday as Alphabet's after-hours beat was already partially priced in, oil's surge to $94 weighed on sentiment, and the broader market held relatively steady; the S&P settled at 7,498.96, the Nasdaq at 25,690.90, and the Dow at 52,218.58, with Nvidia gaining 3%.
Sources: CNBC · Yahoo Finance · Bloomberg · AP
Brent at $94.07, WTI at $86.83 -- Oil Up 3.4% Wednesday, +20% This Month; Analysts See $100 Possible If Hormuz Stays Shut
Brent crude settled at $94.07 -- its highest close since June 8 and up more than 20% for the month -- after the 11th straight night of U.S. strikes on Iran and Rubio's comments declaring Iran not serious about diplomacy; energy analysts say $100 Brent is realistic if Hormuz crossings remain suppressed into August.
Sources: CNBC · NBC News · Trading Economics · Quartz
National Gas Average Approaches $4.10 -- AAA Tracking Iran War as Primary Driver; Analysts Warn of $5 If Conflict Extends
The national average gasoline price edged closer to $4.10 Wednesday as Brent crude's push toward $95 flowed through to pump prices; AAA cited the U.S.-Iran conflict as the primary driver, and several analysts said $5 gas by Labor Day is possible if Hormuz remains effectively closed.
Sources: AAA · CNBC · NBC News · Reuters
$13B 20-Year Treasury Auction Draws Strong Demand -- Inflation Fears Priced In; $21B TIPS Auction Thursday
The $13 billion 20-year Treasury bond auction Wednesday attracted solid demand despite inflation concerns tied to the Iran-driven oil spike; the $21 billion TIPS auction Thursday will provide a more direct read on where long-term inflation expectations stand as oil climbs toward $95.
Sources: Reuters · Bloomberg · Seeking Alpha
Science & Health
Tropical Storm Bertha Makes Landfall in St. Bernard Parish, Louisiana -- 45 mph Winds Near New Orleans; Remnants Track Toward Texas
Tropical Storm Bertha made landfall in St. Bernard Parish, Louisiana -- 40 miles east of New Orleans -- at 3 p.m. ET Wednesday with 45 mph winds; strong upper-level shear kept most rain offshore, limiting damage, though storm surge, coastal flooding, and isolated tornadoes threatened the region as Bertha tracked west toward Texas.
Sources: AccuWeather · Weather.com · NHC · NPR
Iran War Death Toll: 17 Americans, 50+ Iranians Killed Since Hostilities Resumed -- Caspian Pipeline Hit Adds New Energy Risk
The running toll from the U.S.-Iran conflict stands at 17 American service members and more than 50 Iranians killed since fighting resumed last month; Wednesday's strike on the Caspian Pipeline Consortium terminal in the Black Sea marked the first confirmed attack on a non-Middle East energy route since the conflict began.
Sources: NBC News · AP · Trading Economics · CNBC
Mid-Atlantic and Northeast Clear After Tuesday Storms -- Bertha's Remnants to Bring Heavy Rain to Texas Hill Country Friday
The cold front that brought severe thunderstorms Tuesday to the Ohio Valley and Mid-Atlantic cleared the Northeast by Wednesday morning; Bertha's circulation is expected to reform over the Gulf and bring heavy rain and flooding potential to the Texas Hill Country and Corpus Christi area by Friday.
Sources: NWS · Fox Weather · AccuWeather · SPC
Sports
FIFA Suspends Leandro Paredes 5 Games -- Argentina's Enzo Fernandez Gets 3-Game Ban; Both Punished for World Cup Final Conduct
FIFA handed Leandro Paredes a five-game international suspension and Enzo Fernandez a three-game ban Wednesday following their conduct at the World Cup Final; Argentina's AFA issued a statement saying it will appeal both rulings and reiterated support for coach Lionel Scaloni.
Sources: ESPN · FIFA · Yahoo Sports · CNN
Spain Celebrates World Cup Title in Madrid -- King Felipe VI and PM Sanchez Lead Ceremony; Lamine Yamal Draws Enormous Crowd
Spain's World Cup winners were received in a ceremony at the Royal Palace in Madrid Wednesday with King Felipe VI and Prime Minister Pedro Sanchez, before an estimated one million fans greeted the squad in Cibeles Square; 19-year-old Lamine Yamal drew the largest crowd reception.
Sources: ESPN · FIFA · AP · Yahoo Sports
MLB All-Star Week Begins in Pittsburgh -- Home Run Derby Tonight; All-Star Game Thursday at PNC Park
Major League Baseball's All-Star Week is underway in Pittsburgh with the Home Run Derby tonight at PNC Park and the All-Star Game Thursday evening; the event provides a welcome reprieve from the Iran war news cycle and is expected to draw strong local and national ratings.
Sources: MLB · ESPN · AP
Entertainment
Paramount-Warner Bros. Merger Hearing Scheduled -- Judge Sets August 4 Hearing on Democratic AGs' Antitrust Challenge
U.S. District Judge Araceli Martinez-OlguÃn set an August 4 hearing on the twelve Democratic state AGs' antitrust challenge to Paramount's $111B acquisition of Warner Bros. Discovery; the existing 14-day TRO remains in effect and could be extended depending on the hearing outcome.
Sources: NPR · Variety · Hollywood Reporter · Reuters
Netflix Gains Slightly Wednesday -- Stock Off 52-Week Low as Alphabet Beat Lifts Broader Streaming Sentiment
Netflix shares edged higher Wednesday, partially recovering from their 52-week low, as Alphabet's strong Q2 -- particularly its YouTube ad revenue beat at roughly $11.4 billion -- lifted sentiment across digital media and streaming stocks heading into the broader Magnificent Seven earnings season.
Sources: Hollywood Reporter · Barron's · CNBC
SpaceX Announces First-Ever Q2 2026 Earnings Call Date -- Public Markets Era Begins for the World's Largest Rocket Company
SpaceX announced it will hold its first-ever public earnings call to discuss Q2 2026 financial results, a significant milestone for the world's most valuable private company following its Nasdaq debut in June; date and time were not yet disclosed as of Wednesday afternoon.
Sources: Tesla Oracle · CNBC · Reuters
Weather
Bertha Makes Landfall in Louisiana -- Weakening Storm Tracks Toward Texas; Heavy Rain, Coastal Flooding Along Gulf Coast
Tropical Storm Bertha landed in St. Bernard Parish near New Orleans at 3 p.m. ET Wednesday with 45 mph winds; strong shear kept most rain over the Gulf, limiting inland damage, but storm surge and coastal flooding are affecting southeastern Louisiana and parts of southern Mississippi and Alabama as the system moves west.
Sources: AccuWeather · Fox Weather · NHC · AP
Texas Hill Country, Corpus Christi Flash Flood Risk Friday -- Bertha Remnants May Redevelop Over Gulf; Excessive Heat Eases Nationally
Bertha's remnants could redevelop a circulation over the warm Gulf waters and make a second landfall near Corpus Christi or Galveston by Friday, bringing flash flooding to the Texas Hill Country; the cold front that cleared the Northeast Wednesday has brought significant heat relief to most of the eastern U.S.
Sources: Fox Weather · NHC · NWS · AccuWeather
Coming Up
Tonight: Tesla Q2 at 5:30 p.m. ET, IBM Q2 Call at 5 p.m. ET · Tomorrow: Intel Q2, $21B TIPS Auction, MLB All-Star Game · Friday: Bertha Remnants Near Texas, Iran War Day 12
Tesla and IBM both report tonight -- Tesla at 5:30 p.m. ET, IBM at 5 p.m. ET -- with margin and guidance the keys for both; Intel reports Thursday as the MLB All-Star Game comes to Pittsburgh; Bertha's remnants may redevelop over the Gulf toward Texas by Friday as the Iran conflict enters day 12.
Sources: Daily Tech Reader