⚡ Today in History

On July 18, 1918, Nelson Mandela was born in Mvezo, South Africa. In 1968, Robert Noyce and Gordon Moore founded Intel in Santa Clara, California, launching the modern chip industry. Today, semiconductor stocks are dragging Wall Street lower for a third straight session.

Top News

Texas floods surge again as the Guadalupe River tops last year's record 37 FT

Heavy rain returned to the Texas Hill Country for a second straight year, and the Guadalupe River near Comfort rose to 37 feet early Thursday, half a foot above its mark during last July's deadly flood. Texas Governor Greg Abbott said the flooding has killed at least two people and triggered more than 230 rescues since Wednesday night, with flood warnings extended into Saturday for several counties.

US strikes Iran for a sixth straight night as Tehran threatens a second oil route

US Central Command said fighter jets and warships hit Iranian coastal defense and logistics sites early Friday, extending a bombing campaign President Trump ordered after the ceasefire collapsed. Iran has asked Yemen's Houthi movement to prepare to close the Bab al-Mandab Strait, a Red Sea shipping route, if the US strikes Iranian infrastructure.

Netflix sinks, chip stocks slide again — Wall Street heads for a weekly loss

Netflix shares fell sharply in premarket trading Friday after the company forecast a second straight quarter of slowing revenue growth. The drop compounded a three-day semiconductor sell-off, and S&P 500 futures pointed to further losses heading into Friday's open.

Messi's Argentina faces Spain Sunday for the World Cup title

Argentina beat England 2-1 in Wednesday's semifinal in Atlanta, setting up Sunday's final against European champion Spain at MetLife Stadium in New Jersey. Lionel Messi, 39, will become only the second player in history to appear in three World Cup finals, joining Brazil's Cafu.

White House confirms ICE traffic stops will continue after two fatal shootings

White House Press Secretary Karoline Leavitt said Thursday that Immigration and Customs Enforcement (ICE) agents will keep conducting vehicle stops, days after reports suggested the tactic would pause. The reversal follows the fatal shootings of two immigrants during traffic stops in Texas and Maine earlier this month.

World

Iran threatens to shut a second oil route through Yemen's Houthi fighters 7%

Iran has asked Yemen's Houthi movement this week to prepare to close the Bab al-Mandab Strait, a Red Sea route linking the Suez Canal to the Indian Ocean, if the US strikes Iranian power infrastructure. The waterway now carries about 7% of the world's energy supply, raising the prospect that the Middle East's two main oil export routes could be disrupted at once.

Chevron and Iraq advance a pipeline meant to bypass the Strait of Hormuz

Chevron plans to sign non-binding agreements with Iraq on Friday covering investment in two oil fields and a pipeline that would move Iraqi crude to the Mediterranean. Iraq's oil exports fell by more than half during the Strait of Hormuz shutdown earlier this year, straining the government's finances.

More than 500 feared dead in two shipwrecks off Myanmar

The International Organization for Migration (IOM) and the UN refugee agency said two boats carrying mostly Rohingya refugees from western Myanmar's Rakhine State sank or lost contact after leaving in late June. One vessel, believed to be carrying about 280 people, is thought to have sunk off Myanmar's Ayeyarwady coast on July 8.

Japan's parliament locks in male-only rule for the imperial throne

Japan's parliament approved a revised Imperial House Law on Friday that allows men from former branch families to be adopted into the imperial family, while keeping succession limited to the male line. The change leaves Princess Aiko, daughter of Emperor Naruhito, ineligible to inherit the throne despite public support for a female emperor.

Zelensky removes Ukraine's defense minister, drawing protests in three cities

Ukrainian President Volodymyr Zelensky dismissed Defense Minister Mykhailo Fedorov on Thursday as part of a broader government reshuffle, prompting protests in Kyiv, Lviv, and Odesa. Fedorov, credited with building Ukraine's drone program, said a dispute with armed forces chief Oleksandr Syrsky contributed to his removal.

Politics

DHS pledges body cameras for all ICE agents within 60 days 60 DAYS

White House Press Secretary Karoline Leavitt said Thursday that more than half of Immigration and Customs Enforcement (ICE) field offices already have body cameras, with the rest expected to receive them within 60 days. The pledge follows the fatal shootings of two immigrants during traffic stops in Texas and Maine this month.

Trump gives primetime address on election security, releases declassified documents

President Trump argued in a White House address Thursday that US election systems remain vulnerable, releasing declassified documents he said would build public confidence. The documents did not show that past vote counts were changed by fraud or foreign interference, according to reporting on the disclosure.

Lindsey Graham's sister sworn in to finish his Senate term

Darline Graham Nordone was sworn in Tuesday to serve the remainder of her late brother Lindsey Graham's Senate term, becoming the first woman to represent South Carolina in the chamber. South Carolina Governor Henry McMaster appointed her at President Trump's suggestion after Graham died July 11 at age 71 of a ruptured aorta.

Manila condemns Chinese state media video mocking Filipinos as racist

The Philippine government this week demanded China Daily remove an AI-generated video depicting a monkey in Filipino national dress taking orders from the US and Japan. The dispute comes days before Chinese Foreign Minister Wang Yi is due in Manila for a regional foreign ministers meeting, and follows years of tension over the South China Sea.

EU set to ease carbon-cut pace for heavy industry

The European Commission plans to publish an overhaul of its Emissions Trading System on Friday that slows the pace at which the bloc's emissions cap shrinks over the next decade. The proposal aims to give industry more time to adopt clean technology while keeping the EU on track for climate neutrality by 2050.

Markets

Netflix sinks, chip stocks slide again — Wall Street on track for a weekly loss -8%

Netflix shares fell more than 8% in premarket trading Friday after the company forecast a second straight quarter of slowing revenue growth. The decline compounded a three-day semiconductor sell-off that has dragged the Nasdaq 100 down 1.6% this week, with S&P 500 futures pointing to further losses at the open.

Taiwan Semiconductor raises spending plans by up to $8 billion — investors sell anyway

Taiwan Semiconductor Manufacturing (TSM) reported a 77% jump in quarterly profit on Thursday but raised its 2026 capital spending forecast to between $60 billion and $64 billion, up from $52 billion to $56 billion. The stock fell more than 2% as investors questioned whether AI-driven chip demand justifies the higher spending.

Oil refiners hit record highs as crack spreads widen

Valero Energy, Marathon Petroleum, Phillips 66, and Par Pacific Holdings all reached all-time highs this week as the gap between crude and refined fuel prices widened. Valero has gained 83% in 2026, while Par Pacific has more than doubled, climbing 108%.

Gold falls below $4,000 an ounce as oil-driven inflation fears build

Gold slipped toward its lowest level since November 2025 this week as rising oil prices tied to the Iran conflict raised concerns that the Federal Reserve will keep interest rates elevated longer. Traders now see about a 51% chance of a Fed rate increase in September.

Entertainment

BTS, Shakira, Madonna, and Justin Bieber to headline World Cup final halftime show SUNDAY

The 2026 World Cup final between Argentina and Spain will close with a halftime performance featuring BTS, Shakira, Madonna, and Justin Bieber at MetLife Stadium in New Jersey on Sunday. The match caps the first 48-team World Cup in tournament history.

Argentina faces FIFA scrutiny after Falklands banner at World Cup semifinal

Argentine players celebrated Wednesday's semifinal win over England with a banner reading "Las Malvinas son Argentinas," reigniting the decades-old sovereignty dispute over the Falkland Islands. British Prime Minister Keir Starmer's office backed calls for FIFA to investigate, while Argentine President Javier Milei said he expects a fine.

ESPY Awards red carpet draws star athletes and celebrity couples

The 2026 ESPY Awards took place Wednesday at Lincoln Center in New York, hosted by "Saturday Night Live" cast member Marcello Hernandez. Attendees included NBA guard Jalen Brunson alongside Ali Marks, and Cleveland Browns receiver Myles Garrett alongside figure skater Chloe Kim.

Sitcom actor Hal Williams, known for "227" and "Sanford and Son," dies at 91

Hal Williams, who appeared in the sitcoms "227," "Sanford and Son," and "Private Benjamin" and more recently in CBS's "Matlock," died this week at age 91. Williams' career in television spanned five decades.

Disney sets sequels in motion for "Lilo & Stitch 2" and "The Incredibles 3"

Disney announced this week that both "Lilo & Stitch 2" and "The Incredibles 3" are moving toward theatrical release. The news follows the studio's live-action "Lilo & Stitch" remake, which became one of 2025's top box-office earners.