CBS: US & Israel Preparing Iran Bombardment, NYT: Warsh Considers Meeting Reduction, More
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Next week on Leaders, with me, Francine Lacqua. I speak with investor and entrepreneur Amanda Stavely on the boldest deal of her career.
That was bold. That was brave.
Walking away from Newcastle.
It was the toughest decision I've made.
And what she's looking for in her next football club.
I just want a challenge, and that's what excites me.
Listen and watch Leaders with me, Francine Lacqua, on Bloomberg Television or wherever you get your podcasts.
News when you want it with Bloomberg News Now. I'm Ed Kalecki. President Trump says he is losing confidence in Iranian negotiators in the latest sign that the renewal of armed hostilities in the Middle East could drag on. Speaking during a cabinet meeting Friday at Camp David, the president took issue with missile attacks that Iran launched earlier this week against U.S. forces in Jordan that ended a multi-day pause in fighting.
I'm losing faith in them because they do lie.
and do they do misrepresent the president is threatening to rain more destruction on iran unless its negotiators make a deal retired general wesley clark former allied commander in europe talked about it on bloomberg's balance of power they've taken the punch survived it you could take out oil refineries you can tear down some bridges but if the idea is that you would punish them enough that they would say oh my gosh i just can't take one more punch in the nose Most of the people who really understand it say that's not likely to happen because you're dealing with real zealots.
Retired General Wesley Clark, CBS News is reporting the U.S. and Israel are preparing to bombard energy targets in Iran. The Wall Street Journal reports the president has ordered a fresh attack on Iran aimed at getting Tehran to surrender that could begin as soon as this weekend and would last a few days. The New York Times reports Fed Chairman Kevin Warsh is considering reducing the frequency of the central bank's scheduled policy meetings. Warsh raised the proposal to change the frequency of meetings at this week's gathering of the Federal Open Market Committee. A Fed spokesperson declined to comment. Currently, Fed policymakers meet eight times a year for a two-day gathering, after which they announce their policy decision.
Warsh has signaled he intends to bring other changes to the Fed, including potentially reducing the number of press conferences he holds after policy decisions. Oil posted its biggest monthly gain since March as traders grappled with simmering global conflicts and threats to supply. from the Persian Gulf to the Black Sea. Brent's most active contract settled up 1.2% near $88 a barrel, while West Texas Intermediate rose 1% to settle below $85. WTI rose above $86 a barrel in post-settlement trading on Friday afternoon following the CBS report that the U.S. and Israel are preparing to bombard energy targets in Iran. All energy markets surged higher in July with Brent the global oil benchmark, posting a nearly 24% gain.
Wall Street wraps up the trading month of July with a weekly gain for stocks. That story from Bloomberg's Charlie Pellett.
For the week, the S&P 500 index was up by 1%.
Are the U.S. and Israel preparing strikes on Iran’s energy infrastructure?
For the month of July, the index gained 0.1%. The Bloomberg Mag 7 index jumped 3.2% as a surge in Amazon, up 15.3%, outweighed a slide in Apple, down 7.3%. The Philadelphia Stock Exchange Semiconductor Index closed little changed at the end of the worst month since 2008. For the week, the Dow up 1%, NASDAQ this week up 1.6%. In New York, Charlie Pellett, Bloomberg Radio.
SpaceX pulled off a successful launch last Friday evening at its Starbase facility in South Texas, sending its Starship rocket into orbit. It hasn't stopped Elon Musk's fortune, though, from falling back to Earth. The world's first trillionaire is now poorer than he was before SpaceX's initial public offering priced last month, as according to the Bloomberg Billionaires Index. Musk's wealth, which peaked at about $1.33 trillion on June 16th, now stands at $684 billion. The $600 billion-plus decline in just over a month exceeds the net worth of any other person who has ever been on Bloomberg's list of the world's 500 richest people, other than Musk himself.
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