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Tehran Signals Defiance as Supreme Leader Vows Retaliation and Strait Closure

  A man holds a picture of Iran's new supreme leader, Mojtaba Khamenei, while people attend a funeral ceremony for the Iranian military commanders who were killed in strikes, in Tehran Iran’s Supreme Leader issued his first public remarks following the deaths of senior Iranian commanders, vowing that the country will “avenge the martyrs” and maintain the closure of the strategic Strait of Hormuz until what he described as “justice” is served. His comments, delivered during a nationally broadcast address, underscore a sharp escalation in rhetoric at a moment of heightened regional tension. The Supreme Leader framed the recent losses as sacrifices in the defense of Iran’s sovereignty, promising that those responsible “will face consequences.” He also reaffirmed Iran’s decision to keep the Strait closed, a move that has already disrupted global shipping routes and rattled energy markets. The strait, one of the world’s most critical chokepoints for oil transport, has long been a flas...
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Tariff Tensions Rattle Wall Street Ahead of Earnings and Inflation Data

Wall Street futures dipped Monday morning as investors braced for a volatile week marked by fresh tariff threats and a flood of economic data. President Donald Trump’s announcement of a 30% tariff on imports from the European Union and Mexico, set to begin August 1, sent ripples through global markets.

Major U.S. index futures—Dow, S&P 500, and Nasdaq—were all down roughly 0.3% in premarket trading. While the EU signaled a willingness to negotiate, the looming deadline has heightened uncertainty. Analysts suggest the market’s muted reaction reflects a growing belief that such threats are part of Trump’s negotiation strategy.

This week’s economic calendar is packed, with June’s Consumer Price Index (CPI) report due Tuesday, followed by wholesale inflation, retail sales, and industrial production data. These figures will be closely watched for signs of how tariffs may be influencing inflation and consumer behavior.

Meanwhile, second-quarter earnings season kicks off, with major banks like JPMorgan Chase, Wells Fargo, and Citigroup reporting Tuesday, followed by tech and consumer giants later in the week. Investors are eager to see how companies are navigating trade tensions and inflationary pressures.

Adding to the drama, tensions between the White House and the Federal Reserve are escalating. Trump’s economic adviser hinted at possible action against Fed Chair Jerome Powell, citing cost overruns on the Fed’s headquarters renovation.

Despite the turbulence, some bright spots emerged: Bitcoin surged past $120,000, and Boeing rose 2% in premarket trading after a favorable safety report.

With trade threats, inflation data, and earnings all converging, Wall Street is entering a week that could reshape investor sentiment heading into the second half of the year.

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