-TRUMP ADMINISTRATION DRAFTING BAN ON U.S. IMPORTS OF CHINESE DATA CENTER DEVICES: SOURCES
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U.S. PLANS BAN ON NEW CHINESE DATA CENTER PARTS

Reuters reports the Trump administration is drafting a ban on imports of new Chinese optical transceivers used in AI data centers over national security concerns.

The proposed FCC rule, expected this year, aims to prevent espionage, malware, and supply chain risks.

The move could hit China's Zhongji Innolight while benefiting U.S. rivals such as Coherent and Lumentum, though it may increase costs for cloud providers like AWS.
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SYRIA TELLS US IT IS WILLING TO DRASTICALLY DROP RUSSIAN OIL IMPORTS, SOURCES SAY
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SYRIA TO CUT RUSSIAN OIL IMPORTS AMID U.S. SANCTIONS TALKS

Reuters, citing sources, reports Syria has agreed to sharply reduce Russian oil imports as it discusses the removal of its U.S. State Sponsor of Terrorism designation.

The move would mark a major shift away from reliance on Russian crude and could weaken Moscow's influence in Syria.

Sources say the U.S. did not formally make the oil cuts a condition for lifting the designation, but the issue has featured prominently in talks.
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*US DRAFTING BAN ON CHINA DATA CENTER COMPONENTS: REUTERS
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71% OF DEMOCRATS NOW IDENTIFY AS LIBERAL, UP FROM 55% IN 2012, ACCORDING TO REUTERS/IPSOS POLL

71% OF LIBERAL DEMOCRATS SAY GOVERNMENT-PROVIDED HEALTHCARE FOR ALL IS ESSENTIAL TO BEING LIBERAL, REUTERS/IPSOS POLL FINDS

76% OF LIBERAL DEMOCRATS SAY HIGHER TAXES ON CORPORATIONS AND BILLIONAIRES ARE ESSENTIAL LIBERAL POLICY, REUTERS/IPSOS POLL FINDS
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YEMEN'S HOUTHIS SAY THEY HIT SAUDI TARGET AT NARJAN AIRPORT - STATEMENT
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ANZ: U.S. OIL MARKET SUPPORT MAY BE FADING

ANZ says a key pillar supporting the global oil market is weakening as U.S. exports slow.

U.S. crude and petroleum product exports have fallen by roughly 1.5 million bpd since June, alongside weaker production and drilling activity.

"Not as well known has been the support that the U.S. has provided," ANZ said.

"U.S. supply has become a larger concern," the bank added, warning weaker exports could reduce the ability of non-OPEC producers to offset Middle East supply disruptions, providing further support for oil prices.
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CITADEL: JULY RESET THE BULL MARKET, NOT ENDED IT

Citadel's Scott Rubner says July's sharp selloff and sector rotation cleared out excessive positioning without breaking the broader bull market.

Retail investors turned net sellers, AI and semiconductor stocks were heavily sold, and leveraged ETF assets fell by more than $60B from their June peak.

"July did not change the structural bull market. It reset it," Rubner said, adding investors can now focus more on company fundamentals than positioning.
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QATAR'S FOREIGN MINISTRY SPOKESPERSON ON U.S-IRAN TALKS: WE CAN CONFIRM THAT EFFORTS ARE ONGOING WITH ALL PARTIES, WE ARE LOOKING INTO DIPLOMATIC SOLUTION
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IRAN THREATENS TO TARGET U.S. WARSHIPS IN HORMUZ

Iranian military adviser Mohsen Rezaei warned Iran "will not stand idly by" as the U.S. naval blockade continues.

"If the United States brings warships into the illegal route in the Strait of Hormuz, we will target them," he said.

Rezaei also insisted Iran "will under no circumstances allow any route through the Strait of Hormuz other than Iran's route," while accusing Washington of violating the June memorandum of understanding.
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$CAT - CATERPILLAR POSTS RECORD QUARTER, CRUSHES EARNINGS ESTIMATES

Results

• Adj. EPS: $8.17 vs. $6.17 est. (beat)
• EPS: $7.77
• Revenue: $20.50B vs. $19.34B est. (beat)
• Record Sales: First quarter in company history with more than $20B in revenue.
• Restructuring: Costs increased due to the divestiture of certain non-U.S. entities.
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$CAT - CATERPILLAR RAISES OUTLOOK AFTER RECORD Q2 BEAT

Results

Adj. EPS: $8.17 vs. $6.17 est.
Revenue: $20.0B vs. $19.33B est.
Backlog: $72.1B
Record Quarter: First time Caterpillar generated over $20B in quarterly sales and revenue.

Guidance

FY Sales & Revenue: Mid-to-high teens growth vs. 2025
FY Adj. Operating Margin: Expected near the bottom of the annual target range (excluding IEEPA tariff recoveries)
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*QATAR SAYS 'LANGUAGE HAS BEEN DRAFTED ON POSSIBLE' US-IRAN DEAL
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$PFE - PFIZER BEATS ON EARNINGS AND REVENUE, MAINTAINS FY OUTLOOK

Results

Adj. EPS: $0.77 vs. $0.68 est.
Revenue: $15.03B vs. $14.41B est.
EPS: -$0.04
Net Income: -$248M

Guidance

FY Revenue: Maintained at $60.5B–$62.5B vs. $61.79B est.
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QATAR: EFFORTS ARE 'ONGOING' FOR US-IRAN RESOLUTION
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*QATAR: DRAFT ON POSSIBLE PACT CIRCULATING BETWEEN PARTIES
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*QATAR: FOCUS RIGHT NOW IS ON SHORT TERM RESOLUTION

*QATAR: RESOLUTION WOULD HELP TO GO BACK TO US-IRAN TALKS

*QATAR: NOTHING IN BOOKS WHEN IT COMES TO US-IRAN DIRECT TALKS
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QATAR SAID THERE IS CURRENTLY NO SET AGENDA FOR DIRECT U.S.-IRAN TALKS
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$MCD - MCDONALD'S EPS BEATS, SALES COME IN SLIGHTLY LIGHT

Results

• Adj. EPS: $3.38 vs. $3.32 est.
• Revenue: $7.10B vs. $7.13B est.
• EPS: $3.32
• Global Comparable Sales: +1.3% vs. +1.39% est.
• U.S. Comparable Sales: +0.8% vs. +1.06% est.
• Global Systemwide Sales: +5.0% (+4.0% constant currency)

Other

• Pre-tax Charges: $52M
• Leadership: Named Skye Anderson President of McDonald's USA, succeeding Joe Erlinger.
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$SPCX - SPACEX EARNINGS: ANALYSTS FOCUSED ON AI, NOT THE QUARTER

SpaceX reports earnings today, but Bernstein says "the quarterly results should not matter."

Instead, analysts are focused on management's confidence in its AI and orbital data center strategy.

Bernstein says the investment case is about "if, not when" for a multi-trillion-dollar valuation, while Deutsche Bank expects in-line results and believes the stock could stabilize after lock-up expirations. Both see AI growth as the key catalyst.
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