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01:06:12

[Night Trading Futures Closing] International copper futures closed up 0.63%, Shanghai copper futures closed up 0.51%, Shanghai aluminum futures closed down 0.17%, Shanghai zinc futures closed up 0.53%, Shanghai lead futures closed down 1.42%, Shanghai nickel futures closed down 0.21%, and Shanghai tin futures closed up 1.45%. Alumina futures closed up 1.08%, and aluminum alloy futures closed down 0.11%. Stainless steel futures closed up 0.21%.

01:06:11

Trump demanded that Netanyahu withdraw troops from Syria and Lebanon.

01:04:14

[Trump Says US Will Reach Major Deals with Iraq and Extract Significant Oil from the Country] On Tuesday, US President Donald Trump told reporters before meeting with Iraqi Prime Minister Ali al-Zaidi that the US will reach major deals with Iraq and extract significant amounts of oil from the country. "Iraq has enormous potential thanks to its oil resources… We will reach many agreements. This will create a lot of jobs in both countries, and we will extract a lot of oil from the country," Trump said, without providing specific details. "A lot of oil is being extracted, and it's being done by American companies—mostly American companies right now."

01:04:13

Federal Reserve Chairman Warsh: Faced with a massive inherited balance sheet, I am willing to explore reform options.

01:04:12

Federal Reserve Chairman Warsh: In times of crisis, I support a bolder use of the balance sheet.

01:04:11

Federal Reserve Chairman Warsh: I have no preference for any regional Fed's inflation measure.

01:03:22

[New British Prime Minister Faces Economic Challenges and Escalating Iran Risk Upon Taking Office] According to sources, Andy Bunham, who will succeed Keir Starmer as British Prime Minister next Monday, will receive the Treasury's latest economic assessment on his first day in office. The report predicts that the UK's fourth-quarter inflation forecast has been revised upward to 3.2%, and that government bond yields and financing costs will continue to rise, with the Bank of England expected to raise interest rates at least once more before the end of the year. If the US-Iran ceasefire cannot be quickly restored, international oil prices could rise to $150 per barrel, further increasing energy, food, and aviation fuel prices, pushing up the cost of living and exacerbating economic pressures in the UK. At the same time, the UK will also face the risk of cyberattacks from Iran and Russia and will need to continue making key decisions on foreign policy issues such as Ukraine, sanctions against Russia, and the security of the Strait of Hormuz. These factors will be the main challenges Bunham will face in the early stages of his term.

01:03:21

Federal Reserve Chairman Warsh: I will ensure the Fed remains independent during my term.

01:03:20

Indian government: Indian nationals have died after being attacked off the coast of Oman.

01:03:19

Federal Reserve Chairman Warsh: If I already had a preferred inflation indicator, I wouldn't have asked the working group to go back to the most basic questions and start over.

01:03:18

Federal Reserve Chairman Warsh: Quantitative easing does not necessarily lead to inflation, especially during times of crisis.

01:03:17

Federal Reserve Chairman Warsh: The Fed has a stronger control over price levels than it has over the unemployment rate.

01:03:15

Federal Reserve Chairman Warsh: Inflation represents the choices and orientations of the Federal Reserve and fiscal policymakers.

01:03:14

Federal Reserve Chairman Warsh: We need new metrics to measure potential inflation.

01:03:13

Federal Reserve Chairman Warsh: We should be responsible and accountable.

01:03:12

Federal Reserve Chairman Warsh: The claim that I prefer the Dallas Fed's cut-off mean inflation indicator is untrue.

01:02:19

Federal Reserve Governor Barr: To date, there is little evidence that artificial intelligence has caused widespread job losses.

01:02:18

Federal Reserve Governor Barr: If most businesses and their employees cannot fully access the resources available for the continued development of AI, their productivity growth will slow.

01:02:17

Federal Reserve Chairman Warsh: We should be transparent about the reasons for our decisions.

01:02:15

Federal Reserve Chairman Warsh: The Fed’s statements should have an impact.

01:02:14

Federal Reserve Chairman Warsh: The payment system must be resilient enough.

01:02:13

[Federal Reserve Chairman Warsh: Committed to Fulfilling the Dual Mandate of Inflation and Employment Simultaneously] Federal Reserve Chairman Warsh stated that he places equal importance on the Fed's employment and inflation targets—the latter being a recurring emphasis since assuming the chairmanship. "We haven't favored any part of the mandate you've given us," Warsh told members of the House Financial Services Committee. "Price stability and full employment are not mutually exclusive. I am committed to achieving both." When asked later whether he agreed on targeted measures to address the unemployment and job opportunity disparities between Black and white Americans, Warsh said, "America cannot afford to leave anyone behind. Economic opportunity is crucial to America's growth trajectory over the next five to ten years, which means every American needs the opportunity to be productive."

01:02:12

Federal Reserve Governor Barr: AI has the potential to significantly improve productivity, especially benefiting low-skilled and inexperienced workers.

01:02:11

Federal Reserve Governor Barr: AI will impact the labor market and the overall economy in multiple ways, and it is currently impossible to determine whether it will reduce or exacerbate income and wealth inequality.

00:39:11

Federal Reserve Chairman Warsh: I would be more confident if I had better data to support my decisions.

00:38:19

Federal Reserve Chairman Warsh: Although today's CPI data was better than expected, I do not agree with selectively interpreting the data.

00:38:18

Federal Reserve Chairman Warsh: It's not that the Fed won't expand its balance sheet during a crisis.

00:38:17

Federal Reserve Chairman Warsh: I pledge to ensure that all workers in the United States, regardless of their background, have equal opportunities.

00:38:16

Citigroup expects platinum group metal prices to rebound as inflation eases and pressure on the Federal Reserve to raise interest rates diminishes.

00:38:15

Citigroup maintains its 0-3 month palladium price target at $1,500 per ounce.

00:38:13

[Iraqi Prime Minister: US Troops Must Withdraw from Iraq by September 30th] On September 14th local time, Iraqi Prime Minister Muntadhar al-Zaidi stated during a meeting with US President Donald Trump that US troops must withdraw from Iraq by September 30th of this year. Zaidi arrived at the White House that day to meet with Trump. (CCTV News)

00:38:12

Trump praised the Iraqi prime minister, saying, "This man will become an excellent leader. My decision was right. Remember what I said today."

00:38:11

Reporter: Will you sign this sanctions bill against Russia? Trump: Lindsey (the recently deceased Senator Graham) strongly advocated for this bill. They might also add sanctions against Iran and Hezbollah to the bill. This bill will most likely pass smoothly.

00:37:17

Trump on Iran: Believe it or not, I believe the Middle East is moving towards unity. We are eliminating the hegemonic power in the Middle East. Iran was once a power in the Middle East, bullying Iraq and coercing all countries in the region; the entire Middle East was shrouded in fear. Now that fear is gone.

00:37:16

Trump commented on the NATO Ankara summit: "The summit was unprecedented. To be honest, the atmosphere was very harmonious. All the countries were very friendly to the United States. They even had a good impression of me, but they loved the United States even more. The whole summit was impressive."

00:37:15

Federal Reserve Chairman Warsh: Price stability and full employment are not mutually exclusive choices.

00:37:13

Federal Reserve Chairman Warsh: To address the issue of high inflation, we need to continue engaging in healthy internal policy negotiations.

00:37:12

Federal Reserve Chairman Warsh: For far too long, American households have been suffering from the unnecessary hardship caused by high inflation.

00:36:19

Federal Reserve Chairman Warsh: We will fully implement the goal of achieving full employment.

00:36:18

Federal Reserve Chairman Warsh: When we release information about specific methods for addressing inflation, we will make it clear to everyone.

00:36:17

Trump: Secondary sanctions against India have not been discussed.

00:36:16

Federal Reserve Chairman Warsh: Most of the Fed's work is reflected to the left of the decimal point. Note: This means that the main impact of the Fed's policies is reflected in changes in core macroeconomic indicators such as overall employment and output at the integer level, rather than in the fine-tuning of interest rates after the decimal point.

00:36:15

Federal Reserve Chairman Warsh: We will not predict the committee's decision on interest rates in advance.

00:36:13

Trump: This sanctions bill against Russia is highly likely to be passed.

00:36:12

Trump: Sanctions bill targeting Russia may be included in the same sanctions provisions against Hezbollah and Iran.

00:36:11

Trump on Russia sanctions bill: Iran may be included as well.

00:34:21

Federal Reserve Chairman Warsh: We occasionally have to move the decimal point to the right (to raise the policy rate).

00:34:20

Trump: I will bring prices down even further.

00:34:19

Trump: I will address the election in my speech on Thursday.

00:34:18

Trump on the inflation report: Remember this, it's about the midterm elections.

00:34:17

Trump: Oil companies are now entering Iraq to build partnerships.

00:34:15

Trump: The U.S. is ready to provide protection to Iraq if it needs it.

00:34:14

Trump: There is no need for US troops to enter Iraq.

00:34:13

Goldman Sachs CEO Solomon: Warsh understands that the Fed's role is not limited to monetary policy.

00:34:12

Trump: Will announce an oil partnership with Iraq.

00:32:20

[US Military Continues Strikes Against Iran, Strait of Hormuz Standoff Continues] The US military continued its strikes against multiple locations in Iran on the 14th. Iran stated that the memorandum of understanding between Iran and the US has expired. The standoff between the two sides over control of the Strait of Hormuz continues. (Xinhua)

00:32:19

Federal Reserve Chairman Warsh: We cannot have a direct impact on specific prices in the short term.

00:32:18

Trump: The oil cooperation project with Iraq will be announced this week or next week.

00:32:16

Federal Reserve Chairman Warsh: We will resolutely curb the spread of inflation.

00:32:15

Trump: The oil partnership (with Iraq) was formed in a short period of time.

00:32:14

Trump: Iraq has enormous potential wealth.

00:32:13

Trump: Iraq has huge oil reserves and potential.

00:32:12

The government office on Qeshm Island, Iran, reported that the island was hit by US artillery fire at 19:00 local time.

00:30:11

Federal Reserve Chairman Warsh testifies before Congress: pledges to control inflation, overall hawkish stance continues. Details>

00:10:12

[Wash: Markets Will Receive Ample Advance Notice If the Fed Adjusts its Balance Sheet] Federal Reserve Chairman Warsh stated that if the Fed adjusts its balance sheet policy, it will provide advance notice, explanation, and public discussion, giving financial markets ample preparation time. At a hearing, Warsh said the public is already familiar with his views on the Fed's massive balance sheet, but he declined to prejudge the decisions the newly formed balance sheet task force would make. He pointed out that the balance sheet falls under the scope of monetary policy and emphasized that the Fed should avoid interfering in fiscal policy. Warsh stated, "I assure you that if there are any changes to balance sheet policy, we will provide advance notice, explanation, and discussion. Both the Committee and the financial markets will receive full advance notice before any adjustments to balance sheet policy occur."

00:08:12

[Analyst: June Inflation Data Supports Market Overestimation of Fed Rate Hike Probability] Tony Welch of SignatureFD said the market has overestimated the likelihood of a Fed rate hike. Following the release of weak June CPI inflation data, the futures market reflected a lower probability of a rate hike this month, but according to CME Group data, at least one rate hike this year remains possible. Welch stated that inflation is trending downwards regardless of fuel price fluctuations. "We just aren't seeing the kind of wage growth that can sustain broad-based inflation across the economy in the long term," he said. He expects Fed Chairman Warsh to try to keep inflation expectations near the Fed's 2% target. "I do think he's trying to use his rhetoric to help set and keep inflation expectations stable," he said.

00:06:12

Spot gold has just broken through the $4,060.00/ounce mark, and is currently trading at $4,059.77/ounce, up 1.44% on the day; COMEX gold futures are currently trading at $4,066.70/ounce, up 1.52% on the day.

00:02:12

Spot platinum has just broken through the $1630.00/oz mark, last trading at $1629.94/oz, up 1.76% on the day; Nymex platinum futures main contract was last trading at $1642.6/oz, up 1.80% on the day.

23:50:12

Federal Reserve Chairman Warsh: I don't want to "selectively pick" data.

23:48:12

[US June CPI Growth Slows, But Inflationary Pressures Remain] Data released by the US Department of Labor on the 14th showed that the US Consumer Price Index (CPI) growth slowed in June due to falling energy prices, but significant inflationary pressures remain. The data showed that although the year-on-year CPI growth rate fell to 3.5% in June from 4.2% in May, it was still significantly higher than the Federal Reserve's 2% inflation target. The Department of Labor stated that falling energy prices were the biggest factor in the slowdown in the CPI growth rate that month, offsetting the impact of price increases in other areas such as housing and food. Heather Long, chief economist at the Navy Federal Credit Union, a US industry financial institution, said that inflationary pressures eased somewhat in June, but with the renewed escalation of military confrontation between the US and Iran, the slowdown in inflation is likely to be short-lived. (Xinhua)

23:44:17

Federal Reserve Chairman Warsh: Today's (CPI) data does not indicate that the "mission is accomplished" (of combating inflation).

23:44:16

Federal Reserve Chairman Warsh: Artificial intelligence may impact employment in the short term, but will create new jobs in the long term.

23:44:14

According to Iranian media Fars News, an explosion was heard on Qeshm Island in Iran, the cause of which is unknown.

23:44:13

According to Nikkei, the summit with Japanese Prime Minister Sanae Takaichi and German Chancellor Merz is expected to cover defense cooperation, drones, and supply chain issues.

23:44:12

Spot gold has just broken through the $4,070.00/ounce mark, and is currently trading at $4,068.94/ounce, up 1.67% on the day; COMEX gold futures are currently trading at $4,077.10/ounce, up 1.78% on the day.

23:44:11

[Three Oil Tankers Attacked Near Oman, 3 Missing] The Oman Maritime Security Center issued a statement on the 14th local time, stating that three oil tankers flying the Liberian flag were attacked in succession in waters near Oman, resulting in three people missing and six injured. The statement did not mention the time, method, or origin of the attacks. The Oman Maritime Security Center stated that it is continuously monitoring the situation and taking necessary measures to respond to the incident. (CCTV)

23:42:13

Federal Reserve Chairman Warsh: My assessment is that AI will enhance jobs, not replace them.

23:42:12

According to Iran's Tasnim News Agency, a US missile exploded near hydroelectric facilities on Iran's Kish Island.

23:42:11

The Dow Jones Industrial Average has just broken through the 52,400.00 mark, currently trading at 52,398.65, down 0.19% on the day.

23:38:14

Spot platinum has just broken through the $1640.00/ounce mark, last trading at $1639.87/ounce, up 2.38% on the day; Nymex platinum futures are last trading at $1652.8/ounce, up 2.43% on the day.

23:38:13

Trump: Iran will never have nuclear weapons.

23:38:12

Trump held bilateral talks with Iraqi Prime Minister Ali Zaidi.

23:36:13

Spot gold has just broken through the $4,080.00/ounce mark, and is currently trading at $4,079.20/ounce, up 1.93% on the day; COMEX gold futures are currently trading at $4,086.80/ounce, up 2.02% on the day.

23:28:17

According to Cuban state media: Cuba's national power grid system has collapsed.

23:28:16

Federal Reserve Chairman Warsh: I don’t think we can go back to the balance sheet level of 2006.

23:28:15

Federal Reserve Chairman Warsh: The Fed can begin to seriously consider when it will purchase Treasury debt.

23:28:14

Federal Reserve Chairman Warsh: (Regarding artificial intelligence) It's good for the economy overall, but I don't want to be too complacent.

23:28:12

US President Trump: The United States has won again, and in a way that has never been before.

23:20:11

Spot platinum has just broken through the $1650.00/ounce mark, last trading at $1649.48/ounce, up 2.98% on the day; Nymex platinum futures are last trading at $1662.7/ounce, up 3.04% on the day.

23:18:19

Federal Reserve Chairman Warsh: Artificial intelligence is generally beneficial to the economy, but I am not willing to be complacent about it.

23:18:18

Federal Reserve Chairman Warsh: Artificial intelligence will significantly improve productivity over time.

23:18:17

Iranian President: Historically, southern Iran has always been a symbol of resistance against colonialism and the defense of independence. Today, the noble people of this land have endured the hardships brought about by enemy aggression with patience, resilience, and unyielding spirit. I stand with these loyal and resilient people and am deeply grateful to them. All of Iran is my home.

23:18:16

Federal Reserve Chairman Warsh: The widespread adoption of artificial intelligence may be the most significant change.

23:18:14

Fitch Ratings: El Niño poses weather-related credit risks to the transportation sector in Latin America.

23:18:13

Citigroup CEO: We are very confident in our ability to achieve our 2026 return target and subsequently the follow-up targets announced in May of this year.

23:18:12

The Dow Jones Industrial Average just touched the 52,500.00 mark and is currently trading at 52,498.99, unchanged for the day.

23:18:11

Crude oil futures narrowed their gains as U.S. crude oil prices turned lower after U.S. President Trump announced that the Strait of Hormuz was open to all ships except those from Iran.

23:16:11

Spot gold has just broken through the $4,090.00/ounce mark, and is currently trading at $4,089.97/ounce, up 2.19% on the day; COMEX gold futures are currently trading at $4,098.00/ounce, up 2.30% on the day.

23:14:13

Citigroup CEO: Europe will face competitive headwinds again in the field of artificial intelligence.

23:14:12

Citigroup CEO: The Middle East conflict has dragged down global growth to some extent, while also providing a new impetus for inflation.