Iran Says US Strikes on Tuesday Killed 18, Wounded 108

Archegos 2.0? Star AI Investor Dumps Assets To Citadel After Massive Levered Bets Blow Up Update (1130ET): The Wall Street Journal reports that Situational Awareness, the highflying artificial-intelligence-focused hedge-fund firm, sold the bulk of its stock portfolio to Ken Griffin's investment firm Citadel after suffering deep losses, according to people familiar with the matter. *  *  * Update (1000ET): Situational Awareness has exited all of their public investments, CNBC’s David Faber reports on air, citing people familiar with the situation. Faber reports that the liquidation was done “through one enormous trade." Roughly two-thirds of the assets...

A day after Iran said that it had broken off talks with the US over Israeli ceasefire violations in Lebanon, President Donald Trump claimed that negotiations were continuing.  “Fake News Reports that the Islamic Republic of Iran, and the U.S.A., stopped speaking a few days ago are false and erroneous,” Trump wrote on Truth Social […]

Despite Slumping Sentiment & Lower Gas Prices, The American Consumer Is Still Spending Strongly While headline spend at gas stations is expected to decline (due to tumbling pump prices), BofA's almost omniscient analysts forecast a stronger than consensus print for today's US Retail Sales data. After a big jump in May (revised up), June's Headline retail sales rose 0.2% MoM (as expected), with sales up 6.7% YoY (down modestly)... Gasoline Stations sales saw the biggest decline (along with small drops in Health Personal Care and Food and Beverage). Nonstore Retailers saw the...