News

The Dow Jones Industrial Average closed down 21.69 points, or 0.04%, at 53,770.16 on Wednesday, August 12; the S&P 500 rose 20.31 points, or 0.26%, to 7,748.51 on Wednesday, August 12; and the Nasdaq Composite rose 143.04 points, or 0.54%, to 26,588.49 on Wednesday, August 12.

US President Trump: Levitt will become one of my senior outside advisors and an influential voice within the Republican Party.

US President Trump: White House Press Secretary Levitt will resign so she can spend more time with her family.

US President Trump: White House Press Secretary Levitt will leave office at the end of this month.

Market news: Minouch Shafiq, former deputy governor of the Bank of England and director of the International Monetary Fund, has stepped down as chief economic advisor to the British Prime Minister.

U.S. Central Command: As of August 12 local time, the U.S. military has forced 59 merchant ships to change course, rendered 3 ships inoperable, and boarded and inspected 2 ships.

According to CBC News: Canada and the United States are not yet ready to reach a tariff agreement, and Canada is dissatisfied with the latest U.S. proposal.

Iran's Persian Gulf Straits Authority: US officials have claimed and repeatedly announced that the Strait of Hormuz is no longer blocked, but these claims do not change the reality: the Strait of Hormuz remains closed and will not reopen unless Iran's conditions are accepted.

The U.S. Treasury Department reports that the budget deficit for fiscal year 2026 is $1.799 trillion year-to-date, compared to $1.629 trillion in the same period of fiscal year 2025.

The U.S. Treasury Department reported that the July budget deficit was the largest since March 2021 and set a new record for the largest monthly budget deficit in July.

The U.S. Treasury Department reported a budget deficit of $432 billion in July (compared to market expectations of $346 billion), compared to a deficit of $291 billion in July of last year.

U.S. Treasury Department: Government spending in July reached $766 billion, a record high for July and higher than the $630 billion in July last year. Government revenue in July was $334 billion, lower than the $338 billion in July last year.

U.S. Treasury Department: July Customs net revenue was -$8.55 billion, total revenue was $24.84 billion, and tax refunds were $33.38 billion.

The US government budget in July was -$432 billion, compared to an expected -$346 billion and a previous -$120 billion.

According to the Globe and Mail, while seeking a tariff exemption from the United States, Canada is weighing a proposal regarding auto tariffs. This proposal would maintain exemptions for the value of U.S.-made auto parts exported from Canada.

According to the Wall Street Journal, Ukrainian drones defeated U.S. armored forces during military exercises in Germany this spring.

The Federal Reserve accepted a total of $725 million from one counterparty in its fixed-rate reverse repurchase operations.

The Security Service of Ukraine: Ukrainian forces struck three warships and other facilities in an attack on the Russian port of Novorossiysk.

The yield on 10-year U.S. Treasury bonds was largely unchanged after the auction; the yield on 10-year Treasury bonds fell 1 basis point to 4.67%.

The yield on 10-year U.S. Treasury bonds hit a new high since 2007.