⚡ Today in History

On July 21, 1969, astronaut Neil Armstrong became the first person to walk on the Moon during NASA's Apollo 11 mission. In 1949, the U.S. Senate ratified the North Atlantic Treaty, creating the military alliance that still shapes Western defense policy today. Today? The White House is racing to fast-track nuclear reactors for an entirely different kind of technological competition: powering artificial intelligence.

Top News

US strikes Iran for 9th straight night 9TH NIGHT

Iran's ceasefire with the United States collapsed after Tehran attacked commercial ships in the Strait of Hormuz, the world's busiest oil chokepoint. The U.S. military carried out its ninth consecutive night of strikes against Iran on Sunday, hitting military and shipping-related targets across the country, and U.S. Central Command (CENTCOM) said another American service member was killed in a related exchange in Iraq. Iran has continued to trade fire with U.S. bases in Kuwait and Jordan, raising fears the conflict could widen further across the Gulf.

Burnham becomes UK's 7th PM in a decade 7TH IN 10 YRS

Keir Starmer resigned as Britain's prime minister on Monday after months of pressure from his own Labour Party lawmakers over sinking approval ratings. Andy Burnham, the former mayor of Greater Manchester, traveled to Buckingham Palace hours later and was invited by King Charles III to form a new government. Burnham becomes the United Kingdom's seventh prime minister in a decade, and a new national election must be called by 2027.

Trump commits billions to fast-track nuclear reactors $17.5B

Data centers now use about 4 to 5% of U.S. electricity, a figure projected to nearly triple by 2028 as artificial intelligence demand grows. Earlier this month, the Department of Energy committed $17.5 billion in loans for ten new nuclear reactors meant to power AI data centers, with construction targeted to begin by 2030. Critics, including a former Nuclear Regulatory Commission chair, warn that the fast-tracked timeline is cutting corners on safety reviews.

Putin thanks North Korea for its role in Ukraine war

Russia has leaned on North Korean troops and ammunition since the war in Ukraine began in 2022, and thousands of North Korean soldiers helped Russian forces hold the Kursk region during the winter of 2024-25. North Korean Foreign Minister Choe Son Hui traveled to Moscow this weekend at the invitation of her Russian counterpart, and President Vladimir Putin thanked Pyongyang for its support during their meeting at the Kremlin on Sunday. The unannounced visit has fueled speculation that North Korean leader Kim Jong Un could travel to Russia for another summit.

Oil nears $85 as Iran conflict drags on +30% SINCE JULY LOWS

Crude oil has climbed nearly 30% since its July lows as fighting between the United States and Iran disrupts shipping through the Strait of Hormuz. Brent crude traded near $85 a barrel on Monday, and the U.S. benchmark, West Texas Intermediate (WTI), held above $82. Shipping industry executives say crews remain unwilling to transit the strait, keeping a war premium built into prices.

World

Iran's negotiator vows not to fold on Hormuz

Iran has demanded that commercial ships pay so-called maritime service fees to pass through the Strait of Hormuz, saying it holds sovereignty over the waterway. Mohammad Bagher Ghalibaf, Iran's chief negotiator, said Monday that Tehran would not budge on the issue, declaring that “the era of bullying and extortion are over.” The United States insists passage through Hormuz must remain unobstructed, leaving both sides at an impasse over the memorandum that once anchored their ceasefire.

Jordan and Kuwait caught in Iran-US crossfire

Iran has widened its retaliation beyond direct strikes on U.S. forces, hitting American allies that host U.S. troops in the region. Jordan's army reported Iranian missiles landing in several locations over the weekend, and Kuwait said it repelled missile and drone attacks around the same time, later confirming an Iranian strike hit one of its oil facilities on Saturday. The spillover has raised concern in Washington and Gulf capitals that the conflict could pull in more countries.

Seoul closely monitors Putin-North Korea meeting

South Korea has watched Pyongyang deepen military and diplomatic ties with Moscow since President Vladimir Putin hosted North Korean leader Kim Jong Un for summits in 2019 and 2023. Yoon Min Ho, spokesperson for South Korea's Unification Ministry, said Monday that Seoul was closely monitoring this weekend's meetings between Putin and North Korean Foreign Minister Choe Son Hui. Seoul has not said whether it believes the two countries are planning another Putin-Kim summit.

Brussels fines AliExpress $500M over illegal goods

European Union regulators have ramped up scrutiny of Chinese e-commerce platforms over counterfeit and unsafe products sold to European shoppers. The European Commission fined AliExpress roughly half a billion euros on Monday, saying the platform failed to remove illegal goods from its marketplace.

Burnham vows 10-year plan to stabilize UK

Britain has cycled through seven prime ministers in the decade since voters chose to leave the European Union in 2016, a decision that shrank the economy and fueled anger at the political class. Andy Burnham used his first hours in Downing Street on Monday to promise a ten-year plan aimed at stabilizing British politics and restoring public trust. Burnham takes office as reform-minded parties capitalize on voter frustration with the country's revolving door of leadership.

Politics

White House defends new wave of Iran strikes

Iran violated the memorandum of understanding it signed with the United States in mid-June, according to White House press secretary Karoline Leavitt, who briefed reporters Monday after the latest round of strikes. Leavitt said Tehran continues to signal interest in a deal despite the fighting, framing the daily strikes as a direct response to Iranian violations. Leavitt declined to say whether President Trump views the broader peace talks as being at a standstill.

Burnham pledges to “raise our game” in first remarks

Andy Burnham delivered his first remarks as prime minister from Downing Street on Monday, hours after Keir Starmer's resignation ended his six-and-a-half years leading the Labour Party. Burnham said it “requires my generation of politicians to raise our game,” pointing to voter frustration with Westminster. Burnham takes charge of a government that must call a national election by 2027 at the latest.

Farage brands Burnham's mandate “ridiculous”

When Starmer announced in June that he would step down, Reform Party leader Nigel Farage immediately demanded a fresh general election, calling it “ridiculous to pretend” that a single by-election win gave Andy Burnham a governing mandate. Britain's parliamentary system allows a governing party to swap its leader without triggering a national vote, a process the UK has repeated seven times in the past decade.

Trump demands Canada explain wildfire smoke

Smoke from wildfires burning across Canada and Minnesota drifted into the eastern United States for the second time this month, reducing visibility over Washington, D.C. last week. President Trump demanded an explanation from Canada on Friday over the smoke's persistence, even as it continued shifting direction through the weekend. Air quality alerts remained in effect across parts of the mid-Atlantic region into Monday.

IAEA reviewing reported strike on Iranian nuclear site

International inspectors have tracked Iran's disputed nuclear program throughout the nine-day exchange of strikes between Washington and Tehran. The International Atomic Energy Agency said over the weekend that it was looking into a reported attack on an Iranian nuclear facility still under construction. The agency has not yet confirmed whether the site sustained damage or whether radioactive material was involved.

Markets

Stocks rise despite fresh Iran strikes S&P +0.63%

Wall Street shook off a new round of U.S. airstrikes on Iran and pushed higher on Monday, with investors looking ahead to a heavy week of corporate earnings. The S&P 500 gained 0.63%, the Nasdaq Composite climbed 1.02%, and the Dow Jones Industrial Average added 0.23%, while the small-cap Russell 2000 slipped 0.42%. More than 86% of S&P 500 companies that have reported second-quarter results so far have beaten Wall Street's expectations.

Oil holds near $85 on Hormuz disruption WTI $82.61

U.S. crude climbed to $82.61 a barrel on Monday, up more than 25% from a year ago, as fighting between the United States and Iran kept traders on edge about Gulf shipping. Brent crude, the international benchmark, traded near $85 a barrel after touching a one-month high last week. Energy traders said prices have room to rise further if attacks on tankers in the Strait of Hormuz continue.

Semiconductor stocks slide into bear market SOXX -20%

Chipmakers have led a broad pullback in technology shares over the past several weeks as investors reassess how much artificial intelligence hyperscalers will keep spending on infrastructure. The iShares Semiconductor exchange-traded fund has fallen more than 20% from its highs, putting the sector in bear market territory even as the S&P 500 trades near record levels. Veteran market strategist Ed Yardeni has warned the sector could fall another 12% before the selloff runs its course.

Gold slips below $4,000 as dollar strengthens

Gold has pulled back more than 4% over the past month even as Middle East tensions escalate, a sign that a stronger U.S. dollar and rising global interest rates are outweighing safe-haven demand for now. Spot gold fell to $4,001 an ounce on Monday, down from a record near $4,736 set in January. Bitcoin, by comparison, traded around $64,779, little changed on the day.

Fed seen holding rates steady this month 87.7% ODDS

Traders are pricing in an 87.7% chance that the Federal Reserve leaves interest rates unchanged at its July meeting, based on futures market data. The 10-year Treasury yield stood at 4.55% on Monday, with the 2-year yield at 4.18%, reflecting expectations that the central bank will stay cautious while it weighs inflation data against a cooling labor market. Investors will get a clearer signal on the Fed's thinking later this week.

Entertainment

Spain beats Argentina to win second World Cup 1-0 (AET)

Lionel Messi's Argentina entered Sunday's final at MetLife Stadium in New Jersey chasing a fourth major trophy in five years. Spain's Ferran Torres scored in the 106th minute off the bench to give his team a 1-0 win after Argentina's Enzo Fernandez was sent off in stoppage time. The victory gives Spain its second World Cup title, following its first in 2010, and may mark the end of Messi's international career at age 39.

“The Odyssey” opens to Nolan's biggest global debut $264M WORLDWIDE

Christopher Nolan followed his Oscar-winning “Oppenheimer” with a big-budget retelling of Homer's ancient Greek epic, casting Matt Damon as Odysseus alongside Tom Holland, Anne Hathaway and Zendaya. “The Odyssey” opened to $124.5 million domestically and $264.1 million worldwide over the weekend, making it Nolan's biggest global launch ever, ahead of 2012's “The Dark Knight Rises.” Universal spent $250 million to produce the film, betting that Nolan's track record would justify one of the year's biggest movie budgets.

Eagles star Saquon Barkley's home targeted in break-in

NFL stars including Kansas City Chiefs' Patrick Mahomes and Travis Kelce have been targeted by burglars in a string of home invasions over the past several years. Philadelphia Eagles running back Saquon Barkley and his family were home when at least one suspect broke into their Tredyffrin Township, Pennsylvania, house around 5 a.m. Saturday, though no one was hurt and investigators believe nothing was taken. Police are searching for two suspects and a white SUV seen near the scene.

L7 bassist Jennifer Finch dies at 59

Jennifer Finch co-founded the Los Angeles rock band L7 in 1985 and helped define the group's raw, feminist punk sound through the 1990s. The band announced earlier this month that Finch was battling an aggressive form of brain cancer, and confirmed on July 18 that she had died at age 59. L7 built a following with albums like “Bricks Are Heavy” and had remained active in reunion tours in recent years.

Sam Smith's new ballad marks a shift for LGBTQ love songs

Music historians have long noted that love songs about same-sex relationships were pushed to the margins of mainstream pop for decades. British singer Sam Smith's latest ballad is being described by music historian Barry Walters as a step forward from that marginalization, continuing themes Smith has explored since coming out publicly in 2017. The song adds to a summer already dominated by blockbuster releases from Nolan and this week's World Cup final.