The Senate voted 86-11 to pass a Russia and Iran sanctions bill renamed for the late Sen. Lindsey Graham. The measure targets Russian energy buyers and now heads to the House, where tariff provisions face scrutiny.
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The U.S. economy unexpectedly lost 23,000 jobs in July, missing forecasts for solid gains and prompting sharp downward revisions to earlier months. The unemployment rate was 4.1%, but reports said the figure was influenced by people leaving the labor force rather than stronger hiring.
The Government Accountability Office found that DOGE’s online “Wall of Receipts” included $110 billion in claimed savings that were incorrect or lacked supporting evidence. The watchdog said DOGE did not adequately explain its calculations and credited itself for some actions already underway.
A federal judge has paused an order requiring Donald Trump to provide financial records to the BBC in his $10 billion defamation lawsuit. The pause comes as Trump seeks to narrow the case to alleged reputational harm rather than damage to his businesses.
Iran says it has agreed with Oman on the coordinates of a temporary shipping route through the Strait of Hormuz. Tehran says the route is in final review but warns safe navigation still depends on broader security conditions, including the U.S. naval blockade.
SpaceX beat revenue expectations in its first quarterly report as a public company, led by Starlink growth, but heavy AI-related capital spending rattled investors. Shares fell after hours as analysts questioned how quickly the company can turn its ambitions into profits.
U.S. stocks rose to record highs as strong earnings from companies including Palantir and Caterpillar combined with falling oil prices and hopes for a deal to reopen the Strait of Hormuz. The S&P 500 gained 1.8%, the Dow jumped 907 points and the Nasdaq climbed 2.6%.
Senate Finance Committee Democrats say JPMorgan Chase, Bank of America and Deutsche Bank knew of suspicious Jeffrey Epstein transactions for years but largely failed to alert authorities until after his 2019 arrest. The report urges federal investigators to examine the banks’ conduct and tighten reporting requirements.