Israel Strikes Iran's Defense Ministry, US Protests Erupt, and Global Economic Updates

Israel-Iran Conflict Escalates

• 💥 Explosions were reported in Tehran as Israel's defense forces claim to have struck Iran's defense ministry headquarters and nuclear project infrastructure.
• ⚠️ Retired U.S. Army Colonel Seth Krummrich suggests that further targeting of Iranian infrastructure by Israel could economically cripple Iran, potentially collapsing its oil and gas facilities.
• Diplomatic efforts are underway, with President Trump suggesting a deal between Israel and Iran could be reached, though Bloomberg's Ethan Bronner notes that Israel's goal might be to pressure Iran into diplomatic negotiations or even achieve regime change.

US Protests and Political Events

• ✊ Cleanup is underway across the US following anti-Trump protests, with mounted police clearing streets in Los Angeles after tear gas was deployed.
• 🚨 In Portland, officials used tear gas and projectiles to disperse crowds outside an immigration building.
• 🇺🇸 President Trump marked the 250th anniversary of the US military by swearing in 250 new recruits.
• 💔 A manhunt is underway in Minnesota for a gunman who allegedly killed former state rep Melissa Hortman and her husband, and also shot Senator John Hoffman and his wife.
• ⚠️ The suspect, who reportedly impersonated a police officer, had a list of targets in his car.
• 🔒 Texas officials closed the Capitol grounds amid investigations into threats against lawmakers.

Global Economic and Trade Developments

• 🇨🇦 G7 leaders are gathering in the Canadian Rockies for a summit, with US stocks falling sharply on Friday.
• 📈 Crude oil futures are being closely watched after a 7% surge amid Middle East fighting, with rising crude prices potentially leading to inflationary pressures.
• 📊 Consumers are reportedly feeling better but still have concerns due to global events, with potential disruptions to energy prices being a factor.
• 🏦 The Federal Reserve is widely expected to leave interest rates unchanged at its upcoming FOMC meeting.
• 🇨🇳 Potential issues are emerging with the US-China trade deal, as export restrictions tied to national security remain unresolved.
• ⏳ The US may extend existing tariffs on China for an additional 90 days beyond the August 10 deadline.

New Telecom Service Ventures

• 📱 DTM Operations has applied to use President Trump's name and the term 'T-1' for telecoms services, including mobile phones, accessories, and wireless service.
• 🌐 The filings suggest plans for a service that could potentially compete with major carriers like Verizon, AT&T, and T-Mobile.