Bloomberg Podcasts · Trump Signals Economic Pressure on Iran; Israel Rejects US Proposal | Bloomberg Daybreak: US Edition

1. 1. President Trump said the US is 'low-keying it' and only semi-negotiating with Iran on the Strait of Hormuz, signaling a preference for economic pressure over new attacks.
2. 2. Iran's foreign minister Araghchi said direct talks with the US are impossible as long as American violations of the memorandum continue, but indirect talks via Oman are ongoing.
3. 3. Iran appointed hardline former commander Mohsen Rezaei as head of the Supreme National Security Council, replacing another hardliner, and he has pushed for full Iranian control over the Strait of Hormuz.
4. 4. The Pentagon is pressuring major defense contractors like Boeing, Lockheed Martin, and RTX to accelerate production of next-generation weapons, including air defense systems for Trump's Golden Dome project.
5. 5. Israel rejected a US-backed 15-point peace proposal with Hamas, with Netanyahu insisting on full disarmament of Hamas before any Israeli withdrawal from Gaza.
6. 6. A majority of Americans now believe Supreme Court justices act for political reasons, not legal ones, and approval ratings are at record lows, leading to calls for term limits or court expansion.
7. 7. J.P. Morgan Chase strategists raised their year-end S&P 500 target to 8,000, a 3% increase from current levels, following a sharp slowdown in US jobs that drove stocks higher.
8. 8. Earnings season is strong with 86% of S&P 500 companies beating expectations, the highest rate since 2021, and the strength is broadening beyond the Magnificent Seven.
9. 9. Berkshire Hathaway reported quarterly profit more than doubled and spent about $4.5 billion on buybacks and nearly $20 billion on equities in Q2 under CEO Greg Abel.
10. 10. SpaceX shares surged 16% on Friday, bringing a two-day rally to 23% and adding over $327 billion in market value, with shares trading around $137.
11. 11. Taiwan Semiconductor reported a 45% rise in monthly sales as AI hardware demand remains strong, and it raised its spending and revenue projections for the year.
12. 12. Apple is exploring an overhaul of its smartwatch lineup, including models without displays and different screen types, in response to the industry shift to screen-free devices.