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On July 3, it was reported that new Federal Reserve Chairman Kevin Wash's schedule during his first week in office primarily consisted of internal meetings, mainly communicating with staff. There were only a few external engagements, including a breakfast meeting with Treasury Secretary Scott Bansen and meetings with former Federal Reserve governors Stephen Milan and Nelly Liang from the Brookings Institution. In contrast, former Chairman Jerome Powell had a much busier schedule towards the end of his term, frequently interacting with global central bank officials and Wall Street executives, including Goldman Sachs CEO David Solomon and UBS chairman. Currently, the Federal Reserve Chairman's schedule is published monthly on the official website.

[Wash's First Week in Office: Only Colleagues, No Wall Street]On July 3, it was reported that new Federal Reserve Chairman Kevin Wash's schedule during his first week in office primarily consisted of internal meetings, mainly communicating with staff. There were only a few external engagements, including a breakfast meeting with Treasury Secretary Scott Bansen and meetings with former Federal Reserve governors Stephen Milan and Nelly Liang from the Brookings Institution. In contrast, former Chairman Jerome Powell had a much busier schedule towards the end of his term, frequently interacting with global central bank officials and Wall Street executives, including Goldman Sachs CEO David Solomon and UBS chairman. Currently, the Federal Reserve Chairman's schedule is published monthly on the official website.

Wash's First Week in Office: Only Colleagues, No Wall Street

On July 3, The New York Times reported that during secret US-Iran negotiations in the spring of this year, American intelligence and diplomatic officials expressed concerns that Israel might plan to assassinate key Iranian negotiators, including Foreign Minister Amir-Abdollahian and Parliament Speaker Ghalibaf. The US feared that such actions would directly undermine the ongoing temporary peace and ceasefire negotiations, prompting them to issue potential risk warnings to Iran through regional countries. The report indicated that Israel had already targeted several Iranian high-ranking officials at the beginning of the conflict, including moderate figures involved in the negotiations. However, as the US pushed for a ceasefire and dialogue, Washington believed that actions against negotiators could lead to a resumption of war. Intensive contacts between the US and Iran began after April, coordinated by US Vice President Harris, Middle East envoy Hochstein, and Kushner. The report also mentioned that Iran had repeatedly increased security measures and utilized fighter jets to escort some of its diplomatic missions to prevent attacks on its delegations.

[US Officials Worried About Israeli Assassination of Iranian Negotiators]On July 3, The New York Times reported that during secret US-Iran negotiations in the spring of this year, American intelligence and diplomatic officials expressed concerns that Israel might plan to assassinate key Iranian negotiators, including Foreign Minister Amir-Abdollahian and Parliament Speaker Ghalibaf. The US feared that such actions would directly undermine the ongoing temporary peace and ceasefire negotiations, prompting them to issue potential risk warnings to Iran through regional countries. The report indicated that Israel had already targeted several Iranian high-ranking officials at the beginning of the conflict, including moderate figures involved in the negotiations. However, as the US pushed for a ceasefire and dialogue, Washington believed that actions against negotiators could lead to a resumption of war. Intensive contacts between the US and Iran began after April, coordinated by US Vice President Harris, Middle East envoy Hochstein, and Kushner. The report also mentioned that Iran had repeatedly increased security measures and utilized fighter jets to escort some of its diplomatic missions to prevent attacks on its delegations.

US Officials Worried About Israeli Assassination of Iranian Negotiators

On July 3, ElevenLabs began preliminary negotiations with investors, planning to advance a secondary offering with a post-investment valuation of approximately $22 billion. The company specializes in AI software that generates realistic multilingual speech, with related tools promoted across multiple industries. Despite facing competition from leading AI giants, ElevenLabs remains favored by investors due to its vertical expertise in the speech AI sector, and the market generally believes it has the potential to outperform large tech companies in its niche.

[ElevenLabs in Talks for Acquisition Offer Valued at $22 Billion]On July 3, ElevenLabs began preliminary negotiations with investors, planning to advance a secondary offering with a post-investment valuation of approximately $22 billion. The company specializes in AI software that generates realistic multilingual speech, with related tools promoted across multiple industries. Despite facing competition from leading AI giants, ElevenLabs remains favored by investors due to its vertical expertise in the speech AI sector, and the market generally believes it has the potential to outperform large tech companies in its niche.

ElevenLabs in Talks for Acquisition Offer Valued at $22 Billion

On July 3, Meta Platforms CEO Mark Zuckerberg stated that the development of AI agents has not "accelerated as we expected" in the past four months. The departmental restructuring planned for 2026 "could have been done more smoothly." The company's bets on departmental restructuring "have yet to show results."

[Meta Platforms CEO: AI Agent Development Has Not Accelerated as Expected in the Past Four Months]On July 3, Meta Platforms CEO Mark Zuckerberg stated that the development of AI agents has not "accelerated as we expected" in the past four months. The departmental restructuring planned for 2026 "could have been done more smoothly." The company's bets on departmental restructuring "have yet to show results."

Meta Platforms CEO: AI Agent Development Has Not Accelerated as Expected in the Past Four Months

On July 3, an internal memo revealed that Tesla informed all employees last month that starting July 6, the cap on AI usage expenses for employees will be set at $200 per week. This move sends a clear signal that even companies that are fully committed to advancing AI technology and attempting to transform their operational models and product systems must now begin to strictly control related costs. For some time, Tesla has been actively promoting the use of various AI tools internally, encouraging employees to integrate them into their daily workflows. (The Information)

[Tesla Sets Weekly AI Tool Usage Expense Cap for Employees at $200]On July 3, an internal memo revealed that Tesla informed all employees last month that starting July 6, the cap on AI usage expenses for employees will be set at $200 per week. This move sends a clear signal that even companies that are fully committed to advancing AI technology and attempting to transform their operational models and product systems must now begin to strictly control related costs. For some time, Tesla has been actively promoting the use of various AI tools internally, encouraging employees to integrate them into their daily workflows. (The Information)

Tesla Sets Weekly AI Tool Usage Expense Cap for Employees at $200

On July 3, energy intelligence group reporter Amena Bakr reported that informed sources revealed that Saudi Arabia's crude oil and refined product exports average around 5.8 million barrels per day, rather than the 6.3 million barrels per day reported by some. The higher figures are due to the inclusion of previously delayed shipments. The claim of 'market oversupply' is highly misleading. Traffic through the Strait of Hormuz has not yet returned to normal. Earlier data compiled by Bloomberg showed that over a six-day period ending Wednesday, Saudi Arabia's average daily crude oil shipments were 6.3 million barrels. This shipping volume is roughly in line with the average level expected in 2025, nearly reaching 90% of February's figures.

[Analyst: Saudi Oil Exports Overestimated, Delayed Vessels Inflate Previous Statistics]On July 3, energy intelligence group reporter Amena Bakr reported that informed sources revealed that Saudi Arabia's crude oil and refined product exports average around 5.8 million barrels per day, rather than the 6.3 million barrels per day reported by some. The higher figures are due to the inclusion of previously delayed shipments. The claim of 'market oversupply' is highly misleading. Traffic through the Strait of Hormuz has not yet returned to normal. Earlier data compiled by Bloomberg showed that over a six-day period ending Wednesday, Saudi Arabia's average daily crude oil shipments were 6.3 million barrels. This shipping volume is roughly in line with the average level expected in 2025, nearly reaching 90% of February's figures.

Analyst: Saudi Oil Exports Overestimated, Delayed Vessels Inflate Previous Statistics

On July 3, Al Jazeera reported that Rob Gaster-Pingford, a lecturer in security studies at King's College London, stated that despite the U.S. push to restore normal shipping and reach a memorandum of understanding, Iran's actual control over the Strait of Hormuz has not only remained intact but has further strengthened after the conflict. He noted that before the conflict, approximately 125 vessels passed through the strait daily, but even after recent diplomatic efforts, shipping traffic remains significantly below this level. Gaster-Pingford believes that Gulf countries were already seeking alternative trade routes before the conflict, and this trend has accelerated post-war. However, Iran has solidified its influence in this critical waterway by continuously creating 'facts on the ground.' He emphasized that Iran is deepening its strategic embedding in the strait, leaving shipping companies with 'no choice but to adapt' to the new reality.

[Scholars Warn: Iran is Normalizing Control Over the Strait of Hormuz]On July 3, Al Jazeera reported that Rob Gaster-Pingford, a lecturer in security studies at King's College London, stated that despite the U.S. push to restore normal shipping and reach a memorandum of understanding, Iran's actual control over the Strait of Hormuz has not only remained intact but has further strengthened after the conflict. He noted that before the conflict, approximately 125 vessels passed through the strait daily, but even after recent diplomatic efforts, shipping traffic remains significantly below this level. Gaster-Pingford believes that Gulf countries were already seeking alternative trade routes before the conflict, and this trend has accelerated post-war. However, Iran has solidified its influence in this critical waterway by continuously creating 'facts on the ground.' He emphasized that Iran is deepening its strategic embedding in the strait, leaving shipping companies with 'no choice but to adapt' to the new reality.

Scholars Warn: Iran is Normalizing Control Over the Strait of Hormuz

On July 3, Citi stated that it expects aluminum prices to bottom out within the next month, followed by a gradual recovery to a range of $3,300 to $3,500 per ton between September and December. The bank's assessment is based on multiple factors, including a dovish shift in Federal Reserve policy, declining real interest rates, improved demand outlook, and a continued decrease in inventory based on consumption metrics. Recently, the decline in aluminum prices primarily reflects weaker-than-expected demand, a slowdown in visible inventory depletion, easing geopolitical risks, concentrated liquidation of speculative and physical positions, and rising market expectations for increased future supply. Over the past month, aluminum prices have dropped about 20% from approximately $4,450 per ton, shaking the upward trend that had lasted for more than a year. However, Citi believes that it is currently not suitable to short aluminum prices, as the market was already in a supply deficit state before the recent shocks, and new supply is unlikely to catch up with demand growth in time. The bank also noted that concerns about a rapid return of supply from the Middle East may be exaggerated.

[Citi: Aluminum Prices Expected to Bottom Out Short-Term, Projected to Rise to $3,500 by Year-End]On July 3, Citi stated that it expects aluminum prices to bottom out within the next month, followed by a gradual recovery to a range of $3,300 to $3,500 per ton between September and December. The bank's assessment is based on multiple factors, including a dovish shift in Federal Reserve policy, declining real interest rates, improved demand outlook, and a continued decrease in inventory based on consumption metrics. Recently, the decline in aluminum prices primarily reflects weaker-than-expected demand, a slowdown in visible inventory depletion, easing geopolitical risks, concentrated liquidation of speculative and physical positions, and rising market expectations for increased future supply. Over the past month, aluminum prices have dropped about 20% from approximately $4,450 per ton, shaking the upward trend that had lasted for more than a year. However, Citi believes that it is currently not suitable to short aluminum prices, as the market was already in a supply deficit state before the recent shocks, and new supply is unlikely to catch up with demand growth in time. The bank also noted that concerns about a rapid return of supply from the Middle East may be exaggerated.

Citi: Aluminum Prices Expected to Bottom Out Short-Term, Projected to Rise to $3,500 by Year-End

On July 3, Canada's chief negotiator announced that Canada plans to jointly announce around 10 founding member countries of the Global Defense Bank at the NATO summit in Turkey next week. Prime Minister Carney is advocating for the establishment of the Defense, Security, and Resilience Bank (DSRB) as part of his call this year to form a 'middle power' alliance aimed at addressing the 'collapse of the U.S.-led traditional world order.' 'We are using the NATO summit as a deadline... what we plan to announce is the list of founding member countries,' said Isabelle Houghton, Canada's chief negotiator and CEO of the Canada Development Bank. The purpose of the bank is to strengthen the defense of allies by raising up to £100 billion ($133 billion) in low-cost funding. Houghton indicated that, aside from Canada, the initial member countries are likely to be all European nations, but she declined to disclose specific names.

[Canada Plans to Announce Founding Members of 'Global Defense Bank' at NATO Summit]On July 3, Canada's chief negotiator announced that Canada plans to jointly announce around 10 founding member countries of the Global Defense Bank at the NATO summit in Turkey next week. Prime Minister Carney is advocating for the establishment of the Defense, Security, and Resilience Bank (DSRB) as part of his call this year to form a 'middle power' alliance aimed at addressing the 'collapse of the U.S.-led traditional world order.' 'We are using the NATO summit as a deadline... what we plan to announce is the list of founding member countries,' said Isabelle Houghton, Canada's chief negotiator and CEO of the Canada Development Bank. The purpose of the bank is to strengthen the defense of allies by raising up to £100 billion ($133 billion) in low-cost funding. Houghton indicated that, aside from Canada, the initial member countries are likely to be all European nations, but she declined to disclose specific names.

Canada Plans to Announce Founding Members of 'Global Defense Bank' at NATO Summit

2 июля южнокорейский индекс KOSPI открылся с падением на 416,54 пункта, что составляет снижение на 5,02%, составив 7886,87 пункта. Индекс Nikkei 225 также открылся с падением на 459,85 пункта, что составляет снижение на 0,65%, составив 70015,11 пункта. (Цзинь Ши)

[Korean Stock Index Plummets 5% at Open]2 июля южнокорейский индекс KOSPI открылся с падением на 416,54 пункта, что составляет снижение на 5,02%, составив 7886,87 пункта. Индекс Nikkei 225 также открылся с падением на 459,85 пункта, что составляет снижение на 0,65%, составив 70015,11 пункта. (Цзинь Ши)

Korean Stock Index Plummets 5% at Open

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How to Detect AI-Generated Videos? A Review of Dynamic, Traceable, and Explainable Detection Systems

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Trading Moments: Bitcoin's 200-week moving average has turned into a resistance level, can the July rise still be realized?

US CFTC Launches Broad Investigation into Polymarket, Is the Prediction Market Party Coming to an End?

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Korean Stock Index Plummets 5% at Open

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