⚡ Today in History

On July 24, 1945, President Harry Truman hinted to Soviet leader Joseph Stalin that the U.S. had built a powerful new weapon, the atomic bomb, tested nine days earlier in New Mexico. In 1969, the Apollo 11 astronauts splashed down safely in the Pacific after the first moon landing. Today? The U.S. signed a deal this week to help Saudi Arabia build nuclear reactors, even as American warplanes strike Iran for a 12th straight night.

Top News

Oil surges toward $100 after Houthi tanker attacks +5%

Yemen's Iran-backed Houthi rebels attacked two Saudi oil tankers in the Red Sea on Wednesday, saying the ships had violated a blockade the group declared on Saudi ports. Brent crude jumped more than 5% to near $99 a barrel in Thursday trading, its highest level in seven weeks. The strikes opened a new front in the war beyond the Strait of Hormuz, raising the risk of higher gas prices for American drivers.

U.S. completes 12th night of strikes on Iran 12

U.S. Central Command completed a 12th consecutive night of strikes against Iran early Thursday, part of a campaign that began July 6 to curb Tehran's control of the Strait of Hormuz. Secretary of State Marco Rubio said in Manila that Iran is "not ready to do a deal" and will "pay a very heavy price" for further attacks. The Pentagon says nearly 100 U.S. service members have been injured since the campaign started, mostly with minor wounds.

Trump approves nuclear deal with Saudi Arabia

The United States and Saudi Arabia signed a nuclear energy partnership this week, giving the kingdom a path to build reactors as it looks to diversify away from oil. The Trump administration says the deal includes safeguards against weapons development. The agreement lands as Washington also works to stop Iran, Saudi Arabia's regional rival, from advancing its own nuclear program.

Canada cancels bridge ceremony after new Trump tariffs

President Trump announced Monday that the U.S. will impose 50% tariffs on Canadian dairy, alcohol, and autos, arguing Canada has treated U.S. automakers and producers unfairly. In response, Canada canceled Thursday's planned opening ceremony for a new bridge connecting Detroit and Windsor, Ontario. The dispute adds another flashpoint to a trade relationship already strained by earlier rounds of tariffs.

Zelenskyy overhauls Ukraine's military leadership

Six days of protests in Kyiv over the firing of a popular defense minister pushed Ukrainian President Volodymyr Zelenskyy to also remove his top army commander this week. Zelenskyy fired Gen. Oleksandr Syrskyi on Tuesday and named Mykhailo Drapatyi, a younger battlefield commander, to replace him. The shake-up comes as Ukraine's military continues fighting Russia's invasion, now in its fifth year.

World

Two shipping lanes now at risk as war spreads 2 TANKERS

The Houthi rebels said Thursday they targeted the tankers Encelia and Layla for violating a blockade they declared on Saudi ports earlier this month. Saudi state media confirmed a fire broke out on the Encelia in the Red Sea, though all crew members were reported safe. Until this week, ship attacks tied to the war had stayed near the Strait of Hormuz; the Red Sea strikes open a second front that analysts say could disrupt global shipping.

Kuwait, Jordan report new Iranian attacks

Both Kuwait and Jordan reported new Iranian attacks Thursday, extending a pattern of strikes against U.S. allies since Washington's bombing campaign began July 6. Iran's Islamic Revolutionary Guard Corps said it targeted American assets in the region. Kuwait has taken the heaviest damage of any Gulf state hit so far in Iran's retaliation.

Saudi Arabia, Algeria cut gas prices for July

Saudi Aramco and Algeria's Sonatrach both lowered prices for liquefied petroleum gas exports this month. Saudi Aramco cut prices between 24% and 27%, while Sonatrach reduced its rates by 2% to 10%. The cuts come even as crude oil prices climb on fears the Iran war could disrupt wider Middle East supply.

Philippines upgraded to middle-income status

The World Bank reclassified the Philippines this week as an upper-middle-income economy, up from lower-middle-income status. The change came after the country's per capita gross national income topped the 2026 threshold of $4,496. Philippine officials called the shift a milestone after years of economic growth.

Marcos warns region faces the 'curse' of 'interesting times'

Philippine President Ferdinand Marcos Jr. said Thursday that Southeast Asia is living through the "curse" of "interesting times," pointing to the wars in the Middle East and Ukraine. Marcos made the comment while reaffirming close ties between Manila and Washington. The remarks came as the region watches oil prices climb over the widening Iran war.

Politics

House passes $1.15 trillion defense bill 216-212

House Republicans pushed the annual defense policy bill through Wednesday over objections from most Democrats, who cited the rising cost of the Iran war. The bill passed 216 to 212, authorizing a record $1.15 trillion for the Pentagon and renaming it the Department of War. It also gives troops a 5% to 7% pay raise and now moves to the Senate.

Fed chair grilled over $100 million payment

Senator Elizabeth Warren pressed Federal Reserve Chair Kevin Warsh on July 15 to name who gave him $100 million just before he was sworn in. Warsh, who spent years managing money for billionaire investor Stanley Druckenmiller, declined to answer and said he would follow standard financial-disclosure rules. Warren also raised concerns that the Trump family's crypto venture, World Liberty Financial, could benefit from Warsh's decisions.

Trump rallies in Georgia, takes aim at Ossoff

President Trump spoke Wednesday in Marietta, Georgia, criticizing communism and Democratic Senator Jon Ossoff, who is seeking re-election this year. The rally came as Trump juggles the Iran war and tariff fights heading into the 2026 midterms. Georgia is expected to be one of the most closely watched Senate races on the ballot.

Rep. Cleo Fields becomes latest House Democrat to retire

Louisiana Democrat Cleo Fields announced this week he will not seek re-election, becoming the latest House member to retire from a state reshaped by partisan redistricting. His departure adds to a wave of retirements tied to new district maps this cycle. Both parties are watching how the redrawn lines affect control of the House in 2026.

DHS chief's early tenure draws scrutiny

Homeland Security Secretary Markwayne Mullin made an early misstep on a vehicle-stop policy that President Trump later reversed, according to sources cited by NBC News. Mullin was confirmed this year to lead the department during a period of expanded immigration enforcement. Departures of Trump's Senate-confirmed officials are already outpacing his first term, a new report found.

Markets

Oil hits seven-week high as Red Sea tensions spread $99/BBL

Brent crude jumped more than 5% Thursday morning to near $99 a barrel, its highest level since early June, after Houthi rebels claimed attacks on two Saudi tankers. U.S. crude climbed more than 4% to almost $91 a barrel, its highest since June 11. Brent has now rallied more than 30% so far in July as the Iran war continues.

S&P 500, Dow slip as oil weighs on stocks

The S&P 500 fell 0.14% Wednesday to close at 7,498.96, while the Nasdaq Composite dropped 0.57% to 25,690.90. The Dow Jones Industrial Average slipped 6 points to 52,218.58. Rising oil prices pressured shares even as investors looked ahead to earnings from Microsoft, Meta, and Amazon.

Mortgage rates hit highest level since war began

The average rate on a 30-year fixed mortgage climbed to 6.55% this week, according to Freddie Mac, its highest level in nearly a year. Rising oil prices tied to the Iran war have pushed bond yields and mortgage rates higher since fighting resumed. Pending home sales fell 5.4% in June from the month before, the National Association of Realtors reported.

Gold slips even as war drives safe-haven demand

Gold fell nearly 1% Thursday to $4,089.80 an ounce, even as the widening Middle East conflict typically pushes investors toward safe-haven assets. The metal is still up more than 21% over the past year. Traders are now watching next week's Federal Reserve meeting, where policymakers are expected to hold interest rates steady.

Entertainment

Ozzy Osbourne performed despite doctors' warnings

Sharon Osbourne said this week that doctors had warned her husband, rock legend Ozzy Osbourne, that he was too ill to perform his farewell concert. Ozzy went onstage anyway, Sharon told CBS News. It was among his final public performances.

Margaret Qualley resurfaces after Antonoff breakup

Actress Margaret Qualley made her first public appearance this week since news broke of her breakup with musician Jack Antonoff. She was seen Wednesday filming the horror remake "Possession." The split ends a relationship that had drawn wide entertainment media coverage.

Joy Behar kisses Star Trek actor on The View

Comedian Joy Behar kissed actor Anson Mount live on air this week during a taping of "The View." Behar joked afterward, "I'm old, but I'm not dead." Mount is known for playing Captain Pike in the Star Trek franchise.

Morgan Wallen's new single hits No. 3 on Billboard

Country singer Morgan Wallen's song "I'm The Problem" climbed to No. 3 on the Billboard 200 this week. The accompanying music video leans into a stripped-down, cinematic style exploring vulnerability. Wallen has built a run of chart hits over the past several years.

Universal adds Fortnite scare zone to Halloween Horror Nights

Universal Studios announced this week that its Halloween Horror Nights event will include a scare zone based on Fortnite's in-game horror event. The crossover blends the popular video game with the theme park's annual haunted attraction. Halloween Horror Nights typically opens across Universal parks in September.