The US has reimposed its naval blockade of Iranian ports, with the blockade officially resuming at 4 p.m. ET.
The US military launched its fourth consecutive day of strikes on Iranian targets, with state media reporting explosions in the port city of Bandar Abbas.
South Carolina Governor Henry McMaster appointed Darline Graham Nordone, the sister of the late Lindsey Graham, to the Senate seat, restoring the 53-47 GOP majority in the chamber.
World
The U.S. military began blockading Iran's ports on the Strait of Hormuz after Trump announced a 20 percent fee on transiting vessels.
Iran launched retaliatory strikes on U.S. and regional targets including air bases in Bahrain and Jordan, and hit three Kuwaiti border posts.
The World Bank elevated the Philippines from lower-middle-income to upper-middle-income economy status based on per capita income growth.
Business
IBM shares plummeted 25% in its worst trading day on record after releasing preliminary second-quarter results that fell short of expectations.
CEO Arvind Krishna blamed the shortfall on weakness in the software and infrastructure business as clients shifted spending toward hardware purchases such as memory chips.
Goldman Sachs shares were more than 3% higher after the bank's second-quarter earnings and revenue surpassed analyst expectations, reporting $20.98 earnings per share versus $14.48 expected.
Technology
OpenAI proposed handing the US government a 5 percent stake valued at roughly $42.6 billion at its recent $852 billion valuation.
New York became the first U.S. state to pause new hyperscale data centers.
TSMC, the world's largest contract chipmaker, reported a 68 percent surge in June revenue.
Science
NASA awarded nearly $600 million for four commercial Moon landings planned for late 2028, each carrying navigation and dust-study instruments.
Scientists discovered fine hairs and specialized nerve cells form a dedicated system for sensing mechanical itch, offering insight into chronic itching.
Scientists developed a new framework applying thermodynamics laws to real, changing black holes instead of only perfectly stable ones, advancing understanding of black hole mergers and evaporation.
Economy
US inflation fell to 3.5% in June from 4.2% in May, driven by a sharp drop in energy costs following the US-Iran ceasefire.
June job creation came in at 57,000, below the expected 110,000, though the unemployment rate ticked down to 4.2%.
Fed Chair Kevin Warsh told Congress the Fed remains fully committed to restoring price stability and has no tolerance for persistently elevated inflation, signaling a hawkish stance ahead of the July 29 meeting.
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