Real-time News

The Dow Jones Industrial Average closed down 1,152.46 points, or 2.18%, at 51,594.86 on Wednesday, July 29; the S&P 500 closed down 112.40 points, or 1.51%, at 7,316.38; and the Nasdaq Composite closed down 433.97 points, or 1.74%, at 24,442.94 on Wednesday, July 29.

According to CNBC, "New Bond King" Gundlach said the Federal Reserve may raise interest rates in September, especially if the yield curve continues to steepen.

Market news: Canadian Prime Minister Carney has dismissed the idea that Canada should restrict the supply of critical resources to the United States in retaliation for its tariff policies.

On July 30th, analysts described the Federal Reserve's decision as "hawkish inaction." While a majority of members chose to keep interest rates unchanged, three members—Dallas Fed's Logan, Cleveland Fed's Hammark, and Minneapolis Fed's Kashkari—voted in favor of a 25-basis-point rate hike. Barclays' Marc Giannini stated, "The FOMC made a 'hawkish inaction' decision." "This policy decision was made amidst significant hawkish headwinds, with these hawkish members favoring an immediate rate hike rather than waiting for more data." Previously, economists had widely expected two dissenting votes, making Kashkari's vote in favor of the rate hike surprising to some. Janus Henderson Investors analyst Daniel Syluk stated, "The three dissenting votes highlight that there remains a considerable force within the committee concerned about inflation."

According to Axios: The Saudi Defense Minister expressed support for de-escalation of the situation.

Market news: SpaceX (SPCX.O) has been awarded a $1.6 billion contract by the U.S. Space Force to carry out 18 Falcon 9 launches to launch military guided satellites.

On July 30th, US President Trump stated in a recent interview: "I have been informed of what happened in Egypt and will take strong action against them. Iran asked us not to attack them, but we will teach Iran a lesson in response to the attack on US military bases in Jordan. We will see if an agreement can be reached with Iran." Trump also addressed the Russia-Ukraine issue: "I hope Zelensky ends the war."

Canada's Minister for Trade to the United States said he held comprehensive talks with U.S. Trade Representative Greer, and both sides agreed to maintain close contact.

On July 30th, Federal Reserve Chairman Warsh told reporters that he does not believe there is a general "conflict" between the central bank's dual mandate—maximum employment and price stability. "My judgment is that when we fulfill our mandate, we will achieve both goals simultaneously," Warsh said, adding that there is no either-or choice regarding inflation and employment. "Neither part of our mission has been forgotten," he said, noting that what is truly damaging the markets is the problem of high and volatile inflation.

US President Trump: Developing North Sea oil will make Britain a rich country.

US President Trump: British Prime Minister Burnham said he would develop North Sea oil.

July 30th - During his first Federal Reserve meeting in June, Chairman Warsh stated that he might only hold a post-meeting press conference when there was specific information to release. However, at the second meeting, he made it clear that he would continue holding press conferences—at least for the remainder of the year. Whether post-meeting press conferences will continue in the future likely depends on the assessment results of the Fed's communications task force.

Ukrainian President Zelensky: Reports indicate that Russia planned a large-scale attack several days ago.

Ukrainian President Zelensky: There is a “high probability” of an attack by Russian forces tonight.