⚡ Today in History

On August 28, 1963, Martin Luther King Jr. delivered his "I Have a Dream" speech to 200,000 people at the Lincoln Memorial in Washington, D.C. In 2008, Barack Obama accepted the Democratic presidential nomination on the same date at the party's convention in Denver, Colorado. Today? California, Colorado, Kentucky and New Jersey led a coalition of states that reached a $17 billion settlement with Meta over claims it harmed children on Facebook and Instagram.

Top News

Meta to pay $17 billion over child safety claims $17B

California Attorney General Rob Bonta led a coalition of states that sued Meta, alleging Facebook and Instagram were built to hook kids. On Wednesday, August 26, 2026, Meta agreed to pay $17 billion in penalties over 10 years and accept an independent safety auditor. The deal came midway through a federal trial in Oakland, California, that began August 18. Settlement funds will go toward youth mental health and crisis intervention programs.

Tanker attacked in the Strait of Hormuz

The United Kingdom Maritime Trade Operations Centre said Thursday it received a report of another vessel attacked in the Strait of Hormuz, the narrow waterway between Iran and Oman that carries roughly a fifth of the world's oil. An unknown projectile struck the tanker and sparked a fire, which crews later put out. The attack came as Iran and Oman negotiate a temporary shipping corridor through the strait. No casualties were reported.

Nvidia posts $96 billion quarter, guides even higher $96.2B

Nvidia reported second-quarter revenue of $96.2 billion after markets closed Wednesday, August 26, 2026, up 106% from a year earlier. CEO Jensen Huang told investors in Santa Clara, California, that AI demand has reached an inflection point, with computing power now generating direct revenue. Nvidia forecast 70% revenue growth for fiscal 2028, well above Wall Street's estimates. The stock still slipped in after-hours trading, extending a pattern seen after each of its last four earnings reports.

Judge clears way for USPS to limit mail-in voting

A federal judge in Boston, Massachusetts, canceled a nationwide order that had blocked the U.S. Postal Service from carrying out President Trump's directive limiting mail-in ballots ahead of the midterm elections. The ruling this week removes a legal roadblock the administration had faced since early summer. A new court challenge to the policy could arrive soon, according to filings in the case.

Spokane evacuees return home after deadly wildfire

The Spokane Complex fires tore through eastern Washington state in mid-August 2026, destroying more than 900 structures. Most evacuees have now been allowed back into neighborhoods near the burn zones, despite lingering concern about toxins in the ash and soil. Local officials are still testing water and air quality before lifting all restrictions.

World

Iran and Oman strike deal over Hormuz waters

Iran and Oman reached an agreement this week over each country's share of waters in the Strait of Hormuz and related transit revenue. Officials in Tehran said the deal alone will not reopen the strait, insisting a U.S. naval blockade must end first. The strait has been a flashpoint since the United States and Israel launched joint strikes on Iran on February 28, 2026. About one-fifth of the world's oil normally passes through the waterway.

Qatar's prime minister travels to Tehran for talks

Qatar's foreign ministry said its prime minister will visit Tehran, Iran, on Thursday to meet with Iranian officials as part of ongoing mediation efforts. The visit follows months of on-and-off negotiations between the United States and Iran over ending the six-month war and reopening the Strait of Hormuz. Doha has positioned itself as a go-between since fighting began in February 2026.

Flash floods kill dozens across Nepal and China

Heavy monsoon rains triggered flash floods across parts of Nepal and southwestern China this week, washing out roads and villages. Rescue crews are still searching for missing residents in the hardest-hit areas. Officials say the death toll has continued to climb as more people are located.

UAE accuses Iran in tanker attacks near Hormuz

The United Arab Emirates said two vessels linked to the Abu Dhabi National Oil Company were attacked in the Strait of Hormuz, blaming Iran for the strikes. The state-owned oil company said 15 of its ships have now been hit by missiles or drones since the war with Iran began in February 2026. The attacks have pushed up insurance costs and rerouting across the Persian Gulf.

Kuwait says it intercepted Iranian drones

Kuwait's defense ministry said its military detected and shot down Iranian drones that entered the country's airspace this month. Kuwait sits on the Persian Gulf near Iran and has stayed formally neutral in the war between the United States, Israel and Iran. The incident adds Kuwait to a growing list of Gulf states reporting spillover from the conflict.

Politics

Trump widens sanctions targeting Iran's economy

President Trump's administration expanded sanctions against Iran this week, targeting aviation, shipping, technology, gold and digital assets. Iranian officials in Tehran warned that if neighboring countries join the pressure campaign, Iran will halt all oil exports through the Strait of Hormuz. Trump said Wednesday the financial pressure is moving Washington toward a major win in the six-month conflict.

Trump says he's in no rush to end the Iran war

President Trump told Al Jazeera this week he has no timeline for ending the war with Iran, saying both sanctions and military strikes are effective. The war began February 28, 2026, when the United States and Israel launched joint strikes on Iranian targets, killing Supreme Leader Ali Khamenei in the opening attack. Trump has also questioned whether Iranian protesters could force regime change, citing the government's willingness to use force against demonstrators.

Rubio suspends all visa interviews for retraining

Secretary of State Marco Rubio ordered a pause on all visa reviews and interviews this week while the State Department retrains staff nationwide. The suspension affects immigrant and visitor visa applicants at U.S. embassies and consulates worldwide. It follows a series of court challenges to the administration's immigration policies, including a ruling last week that struck down a visa ban covering 75 countries.

Target pulls Halloween costume after backlash

Target removed a children's Halloween costume from its shelves this week after social media users said the garment echoed racist minstrel caricatures. The retailer, based in Minneapolis, Minnesota, apologized for selling the item. The backlash adds to a string of controversies the company has faced over its merchandise and diversity policies in the past two years.

CIA director makes rare visit to Moscow

CIA Director John Ratcliffe traveled to Moscow, Russia, this week for meetings that have not been fully detailed publicly. The visit comes as officials say Russian President Vladimir Putin is weighing an escalation in Ukraine. Officials have not said whether the Iran war or Ukraine dominated the discussions.

Markets

Nvidia beats big, guides even bigger +106%

Nvidia's fiscal second-quarter revenue jumped 106% from a year earlier to $96.2 billion, topping Wall Street's already high estimates. CEO Jensen Huang forecast 70% revenue growth for fiscal 2028, far above analyst projections near 40%. Despite the beat, Nvidia shares fell in after-hours trading Wednesday, extending a pattern of post-earnings declines seen in each of the last four quarters.

Stocks close mixed as Wall Street digests earnings

The S&P 500 rose 0.42% Thursday, August 27, 2026, to close at 7,673.04, while the Dow Jones Industrial Average gained 0.83% to 53,195.36. The Nasdaq Composite added 0.39% to end at 26,168.46. The VIX, Wall Street's fear gauge, fell nearly 5% as investors weighed hot inflation data against strong corporate earnings.

Oil slides on Hormuz diplomacy hopes

Brent crude fell 1% Thursday to $86.93 a barrel, its fourth straight session of declines. Traders grew more hopeful after Iran and Oman reached a preliminary agreement over shared waters in the Strait of Hormuz. President Trump also said 10 million barrels of oil passed through the strait on Tuesday, a sign that flows are stabilizing.

Gold and bitcoin rally as investors flee the dollar

Gold traded near $4,700 an ounce this week, on pace for its biggest monthly gain since 1999. Bitcoin touched $80,000 overnight this week after a three-day rally added 22% to its value, its sharpest run since 2023. Investors have piled into both assets since the U.S. Treasury moved to boost bond buybacks, a shift that weakened the dollar.

Software stocks jump on strong earnings season

Salesforce, CrowdStrike and Okta all posted double-digit premarket gains this week after beating second-quarter earnings estimates. The rally reflects broader momentum in AI-linked spending across corporate software budgets. Nvidia's results, released Wednesday, capped a stretch of unusually strong reports across the technology sector this earnings season.

Entertainment

Practical Magic 2 premieres in London

Sandra Bullock, Nicole Kidman and Joey King walked the red carpet Wednesday, August 26, 2026, at the London premiere of Practical Magic 2. The sequel returns Bullock and Kidman to their roles as witch sisters more than two decades after the original film. It is set for release later this year.

Disney sets release dates for two sequels

Disney announced theatrical release dates this week for Lilo & Stitch 2 and The Incredibles 3. Both sequels follow box office hits from the studio's animation and live-action slate. No plot details have been released for either film.

Netflix in talks for a KPop Demon Hunters tour

Netflix is negotiating with concert promoters over a world tour built around KPop Demon Hunters, the animated film that won Best Animated Feature and Best Original Song at the 2026 Oscars. Bloomberg reported the tour could stop at arenas across multiple countries. Organizers are aiming for a 2027 launch, ahead of a planned sequel.

Ryan Reynolds marks Blake Lively's birthday

Ryan Reynolds shared rare family photos this week to celebrate his wife Blake Lively's 39th birthday. The post included their four children, ages 3 to 11. The couple has largely kept their family life private since Lively's legal dispute with director Justin Baldoni concluded earlier this year.

Trailer debuts for McDonagh's Cold War-era thriller

A trailer premiered this week for Wild Horse Nine, the new film from director Martin McDonagh. The movie follows two CIA agents, played by John Malkovich and Sam Rockwell, in Chile shortly before the 1973 coup. A release date has not yet been announced.