🇺🇸🇮🇷 U.S. has lost 25% of all its MQ-9 ‘Reaper’ drones in the war with Iran.

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🇺🇸 US Government officially posts its largest July budget deficit in history, at -$432 billion, due to an acceleration in federal spending.

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🇺🇸 Fed's Beth Hammack says the Fed should RAISE interest rates immediately to restrain economic growth and bring inflation back toward its 2% target.

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🚨🚨 Natural diamonds hit their lowest level this century.

Diamond is down more than -50% since 2022.

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🇺🇸 Hedge funds bought +$6.8 billion in US equities last week, the largest weekly purchase in 18 years.

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🇨🇳 Chinese Yuan hits strongest level against the U.S. Dollar since Feb 2023.

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🇺🇸 Treasury Secretary Scott Bessent says the US will impose measures on Iran that have “never been seen” in the history of economic isolation.

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🇯🇵 Japan's government reportedly supports another Bank of Japan rate hike as soon as September or October, per Bloomberg.

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𝗕𝗥𝗘𝗔𝗞𝗜𝗡𝗚: 🚨 Cristiano Ronaldo and Georgina Rodriguez were married under a "separation of financial assets" system, according to their marriage certificate.

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BREAKING: 🇨🇳 People's Bank of China just injected 348 billion yuan ($52 Billion) into their banking system through overnight reverse repos, their first mid-month injection in history.

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🚨🚨 Iran shot down an American MQ-9 ‘Reaper’ drone near Hormozgan Province, on Iran’s southern coast.

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🇺🇸🇮🇷 Iran's Foreign Minister Araghchi says there is no decision yet on resuming talks with the U.S., according to ISNA.

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🇺🇸 Number of US homebuyers falls to lowest level ever recorded.

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📊 Nvidia cuts back its $250 billion OpenAI data center commitment to under $120 billion, WSJ reports.

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🇹🇷🇵🇸 Turkish President Erdogan says Turkey cannot leave Gaza alone and will do everything it can to support it.

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🚨🚨 Jane Street suffered losses of $15 Billion following Leopold's leverage blowout.

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🇮🇳 India announces plans to build up to 8 new chip manufacturing plants and 5 nuclear reactors.

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🚨🚨 Stocks hit their most expensive valuation surpassing the Dot Com Bubble and 2008 Financial Crisis.

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📊 Market Overview:

SPX: $7785
NASDAQ: $26729
Bitcoin: $62948

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📊 Key Events This Week:

1. July Housing Starts data - Tuesday

2. July Pending Home Sales data - Tuesday

3. Fed Meeting Minutes - Wednesday

4. August Philly Fed Manufacturing Index - Thursday

5. August S&P Global Services PMI data - Friday

6. August S&P Global Manufacturing PMI data - Friday

@Fin_Watch