News

The S&P 500 fell as much as 0.2%, hitting an intraday low, while the Dow Jones Industrial Average dropped 0.4%.

The percentage of winning bids for the 6-month U.S. Treasury bonds auctioned up to August 17 was 18.55%, compared to 96.11% previously.

The percentage of winning bids for the 3-month U.S. Treasury bonds auctioned up to August 17 was 44.68%, compared to 82.94% previously.

The bid-to-cover ratio for the US 6-month Treasury bond auction ending August 17 was 2.97, compared to 2.85 previously.

The US 6-month Treasury auction on August 17th yielded a winning bid of 3.78%, compared to 3.83% previously.

The bid-to-cover ratio for the US 3-month Treasury bond auction ending August 17 was 2.86, compared to 2.88 previously.

The US 3-month Treasury auction on August 17th yielded a winning bid of 3.715%, compared to 3.74% previously.

U.S. Energy Secretary Wright: I will discuss with U.S. companies on Monday how to increase refinery capacity.

U.S. Energy Secretary Wright: Lower gasoline prices will come from increased refining capacity in the U.S. and globally.

The yield on 30-year UK government bonds rose 2 basis points to 5.81%, the highest level since May 18.

Iranian Foreign Ministry: Iranian Foreign Ministry spokesman Bagaei said that the most important change in the region after the two wars imposed on Iran by the United States and Israel, especially after the most recent war, is that regional countries have concluded that the United States is an unreliable and untrustworthy partner.

According to Iran's Tasnim News Agency: The United States has once again sent spy balloons to fly over Erbil, Iraq.

Intel (INTC.O) rose more than 3%.

Market news: US financial services company Synchrony announced a corporate collaboration agreement with OpenAI. Synchrony will deploy GPT-5.6 Sol, Terra, and Luna models and will also launch the ChatGPT plugin.

Nike (NKE.N) shares fell 2.9%, hitting a near 12-year low.

Sources indicate that U.S. private equity firm General Atlantic has reportedly hired JPMorgan Chase to lead a new round of initial public offerings (IPOs). General Atlantic will also reportedly partner with Goldman Sachs and Morgan Stanley to advance the IPO, which could take place as early as this year.

Israeli President: Today at the Presidential Palace in Jerusalem, I met with US Special Envoy Jared Kushner, Gaza Senior Representative to the Peace Committee Mladenov, and their teams. They are pushing forward the implementation of the next phase of President Trump's 20-point plan for Gaza. I emphasized that the next phase must ensure the security of the State of Israel and its citizens, and bring stability and a better future for all peoples in the region.

According to Interfax news agency, a Japanese special envoy will visit the Russian Foreign Ministry on Tuesday.

U.S. House Speaker Boris Johnson: For 15 consecutive months, zero illegal immigrants have been allowed into our country. Thanks to Republican policies, America is safe and secure again, just as we promised.

Last week, US President Trump declared that he would declare the Strait of Hormuz "US territory" after defeating Iran. He had previously claimed US "ownership" of the waterway, despite parts of its waters belonging to Iranian and Omani territorial waters. Maritime law experts point out that claiming territory is far from easy. Professor Zhu Ya, a maritime law professor at City University London, stated that under US law, a presidential declaration or decree alone is insufficient to claim territory; constitutional requirements must also be met. Under international law, annexation violates the UN Charter, and territory, including waters, can only be acquired through agreement or cession. While occupying territory may give the occupying power control of the area, this act itself does not grant legal ownership. Professor Bohen, a shipping law professor at Swansea University, believes the possibility of claiming the Strait of Hormuz as US territory is extremely low. Under international law, this would only be possible if Iran agreed to cede its territorial waters of the strait to the US, a highly unlikely scenario. He speculates that a more realistic option might be a tripartite agreement between the US, Iran, and Oman to open the strait and impose passage fees, but this would also violate international law and the UN Convention on the Law of the Sea. Zhu Ya emphasized that neither Iran nor Oman possesses absolute rights to the Strait of Hormuz; "freedom of navigation takes precedence"—this is a legal principle. The strait is not the property of either party, but sovereign territory, subject to the international maritime navigation regime. He added that military control does not equate to legal ownership.