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The Russian Ministry of Defense announced that it has occupied the Zarubinka settlement.

With the midterm elections approaching, Trump again used the promise of cash handouts to attract voters on Wednesday night, pledging $5,000 to every American adult if the Republicans win both houses of Congress. Vice President Vance stated that the funds could come from tariffs, raising several concerns: 1. If only covering approximately 240 million adult citizens, the fiscal cost would be around $1.2 trillion, equivalent to about two-thirds of the $1.8 trillion deficit in fiscal year 2025. However, the Yale Budget Lab estimates that current tariffs will generate approximately $1.9 trillion in revenue over the next 10 years, far insufficient to cover the one-time bonus. Therefore, it is highly likely that new borrowing will be necessary, further increasing public debt. 2. Economically, $5,000 is roughly equivalent to 8% of the median annual income of a full-time worker. If more than 60% of this is converted into consumer spending, it could significantly stimulate consumer demand, but it would also increase inflationary pressures. Currently, inflation is around 3.4%, and the probability of a Fed rate hike this month is about 60%. Tightening monetary policy could partially offset the effects of fiscal stimulus. 3. Politically, the plan still needs congressional approval, and market forecasts indicate that the Republican Party has only about a 15% chance of winning both the House and Senate, so there is still considerable uncertainty about its actual implementation.

Apple (AAPL.O) rose more than 1% in pre-market trading.

Bank of America Global Research: Lowered its price target for Apple (AAPL.O) from $380 to $370.

A senior military advisor to the commander-in-chief of Iran's armed forces said that the belligerent behavior of the United States has accelerated the shift of the balance of power eastward.

UN climate affairs chief: The EU’s “hellish heatwave” has exacerbated inflationary pressures.