THE NEWS

Kevin Rideout, an American missionary who was abducted in Niger, has been released after more than nine months of detention in the country, Christian missionary organization SIM International announced.”We are grateful to confirm that our good friend and brother in Christ, Kevin Rideout, has been released after over nine months in captivity,” the organization said in a statement shared with Fox News Digital.Rideout was kidnapped near his home in Niger’s capital Niamey on Oct. 21, 2025, SIM said.He was released into the care of U.S. officials and is in good health, according to the organization.FREED AMERICAN REVEALS BRUTAL IRAN PRISON ORDEAL, WARNS HOSTAGES FACE GREATER DANGERRideout, who serves as a pilot for the North Carolina-based SIM, will now return to his wife and children.”He will soon be reunited with Krista, his children, and his extended family,” SIM International’s statement read.”Krista and the rest of Kevin’s family are profoundly grateful for the prayers offered on their behalf by people around the world throughout his captivity, and in particular for the deep level of prayer and support offered by our SIM family,” the statement also read.AMERICANS TRAVEL TO PAKISTAN TO FREE CHRISTIANS TRAPPED IN MODERN-DAY SLAVERY: ‘GOD’S HAND WAS IN IT’Rideout was abducted just 150 feet from Niger’s presidential palace, The Washington Post reported in November.No information has been released about the group that took Rideout, though the Post cited analyst speculation that his abduction was connected to Islamic terror groups in the region.Niger has been a hotbed for Islamic terrorism since a military junta overthrew the democratically elected government in 2023. Following the coup, the military expelled French and U.S. military personnel, forcing the Western nations to abandon Air Base 101 in Niamey, according to U.S. Africa Command.Islamic groups, particularly the ISIS-affiliated Islamic State Sahel Province (ISSP) and the al Qaeda-affiliated JNIM, have grown in strength and influence in the region since the takeover.SPAIN’S MIGRANT SURGE REIGNITES DEBATE OVER EUROPE’S ISLAMIST TERROR THREAT”JNIM activity in Niger saw a substantial increase… representing an almost fourteenfold increase in fatalities and marking the highest number of deaths and attacks by JNIM in the country to date,” according to a report from the Global Terrorism Index in 2025.Fox News Digital contacted SIM International, the White House, the State Department and AFRICOM for further comment.

A federal trade court rejected a challenge to an executive order scrapping the so-called de minimis exemption on imports of lower value shipments.

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Texas State Senator Tan Parker is fighting back against a quiet push to install permanent Islamic foot-washing stations inside the restrooms at Dallas-Fort Worth International Airport.
Documents filed with the Texas Department of Licensing and Regulation show a $300,000 privately funded project to add dedicated “ablution” (wudu) stations, one in a men’s restroom and one in a women’s restroom, in Terminal D.
The work was scheduled to begin August 31 and finish by the end of the year. These low-level basins are specifically designed for the Islamic ritual washing of feet before prayer.
Sen. Parker, who chairs the Texas Senate Committee on Transportation and represents parts of Tarrant County, isn’t having it.
In a strongly worded letter to the airport’s Board of Directors, the Republican senator laid down the law:

“I want to be direct with the Board. I object to how this decision was made. Dallas Fort Worth International Airport is a public asset, owned by two Texas cities and governed by a board that answers to them. Permanent modifications to that asset — regardless of who pays for them — ought to be made under a published standard, applied evenhandedly, through a process the public can see. On the record available to me, none of that appears to have occurred here. A project of obvious public interest was routed through what appears to be an administrative approval, with an undisclosed private funder, and the people of North Texas learned of it from a permit filing.
That is a failure of process, and it is one this Board can correct. It appears that DFW appears to be setting precedent about who may pay to alter a public facility without first having written a rule that would govern the next request, and the one after that. Good governance requires the rule to come first.”

Parker followed up on X with the blunt reality:

“$300,000. No Board vote. No name on the check. DFW is a public airport. Texans deserve to know who’s making decisions about it and who’s paying for them.”

$300,000. No Board vote. No name on the check.
DFW is a public airport. Texans deserve to know who’s making decisions about it and who’s paying for them. https://t.co/AP32GEP4HE pic.twitter.com/3CDEodL7NS
— Senator Tan Parker (@TanParkerTX) August 13, 2026

This is a public facility paid for and overseen by the people of Texas. Yet somehow a permanent Islamic religious fixture was advancing without a public board vote, without transparency on who is writing the check, and without any clear, evenhanded policy that would apply the same way to every other faith or to none.
Parker is demanding answers by August 27 on the airport’s written policies for private modifications to public facilities and whether any formal board approval ever occurred. He is right to do so.
DFW is not a private mosque. It is a public airport owned by the cities of Dallas and Fort Worth. Permanent changes that privilege one religion’s ritual practices should not be slipped through in the dark with anonymous private money and no public process.

The post Texas State Senator TARGETS $300,000 Islamic Foot-Washing Stations at DFW Airport: “DWF is a Public Asset” appeared first on The Gateway Pundit.

Russia Quickly Rejects Ukraine’s Offer Of Ceasefire On Black Sea Shipping

Ukraine has quietly floated a deal through a third-party mediator to halt reciprocal strikes on civilian vessels in the Black Sea, Reuters reports, in what appears to be a calculated bid to unfreeze a critical global commodity corridor and to relieve pressure on Ukraine’s battered wartime economy.

The maritime artery remains a vital economic lifeline for both nations, channeling massive volumes of grain and agricultural supplies to world markets – especially the Middle East and Africa – but there’s now been weekly and almost daily tit-for-tat attacks. 
via Reuters

With roughly 90% of Ukrainian grain and sunflower shipments departing from the primary port cluster of Odesa, Chornomorsk, and Pivdenne, the fallout on Ukraine’s agricultural sector has been severe.

Kyiv Post cites that as a result grain exports have fallen 76% year-on-year so far in August. But the publication notes that the pressure is longer one-sided, as “on Wednesday, Ukraine launched a major coordinated strike on Novorossiysk, Russia’s key Black Sea naval and grain-export hub, forcing all three grain terminals to suspend operations and hitting naval infrastructure.”

It didn’t take long on Friday for the Kremlin to dismiss the idea of a Black Sea ceasefire, blaming Ukrainian acts of “terrorism” against maritime traffic. ​Foreign Ministry spokeswoman Maria Zakharova accused charged Kiev with “brazen acts of ​terrorism” against shipping.

“We view these attacks (by Ukraine) as a deliberate policy aimed at destabilizing ​civilian shipping in the Black Sea region to further escalate tensions and ​prolong the conflict, all with the blatant acquiescence of regional neighbours,” Zakharova said.

“At the same time, we see no signs of improvement in the situation and, consequently, ​no grounds for half-measures that merely grant the Kyiv regime a temporary ​breathing space,” she added.

Part of this grinding war of attrition if for each side to impose as much economic pain as possible, and Ukraine will be more easily squeezed by blocking its ability to export and import – given its key ports are all concentrated along its Black Sea coast.

Russian forces had hit more than 80 vessels believed involved in supplying the Ukrainian military in the month of July alone, state TASS wrote recently based on official defense ministry data.

Moscow seeks to sever military supply routes and disrupt arms shipments bound for Ukraine, but this has also obviously resulted in damaged and sunken tankers, auxiliary vessels, and even deaths of civilian bystanders among international shipping crew. It has accused Ukraine of seeking to hide military shipments under the guise of civilian cargo transit.

But comes amid a Turkish request to State to transfer ATACMS and cluster munitions to Ukraine. Turkey’s preferred side in the Black Sea conflict isn’t a well-kept secret. https://t.co/iCuJaSkq2n
— Michael Weiss (@michaeldweiss) August 14, 2026
Russia’s reaction is somewhat expected, given it has long voiced that it has no interest in short-term ceasefires which could only allow Ukraine forces to rearm and regroup; instead, it will only settle for a lasting and permanent political solution at end to the conflict.

Of course, in Moscow’s view this means official recognition of the seized eastern territories and Crimea as Russian sovereign land. President Putin himself has made clear that he will not stop the ‘special military operation’ until at least this is fully accomplished.

Tyler Durden
Fri, 08/14/2026 – 08:20

Stocks Set To Post Fresh All Time High As Tech Euphoria Returns

Futures are fractionally higher, as they have been much of this supercharged week which pushed stocks to new all tim ehighs, amid quiet news flow this morning. As of 8:00am ET, S&P futures are up 0.1% after the index closed at a record on Thursday. Nasdaq 100 futures advanced 0.2%, with the tech benchmark set for a 1.2% gain in the week. Momentum darling Sandisk rallied almost 6% in premarket trading after surging double digits yesterday and is now up 60% from its lows less than two weeks ago;  Mag 7 stocks mostly unchanged with MSFT and META showing some modest declines as investors continued to focus on OpenAI’s plans for a Wall Street debut. Bond yields are 1-2bp higher, led by 30y. A Reuters article reported that BOJ is eyeing September rate hike and faster pace of tightening, affirming the recent hawkish bias: OIS now sees 81% probability of a September hike (vs. ~65% last Friday). Commodities are modestly higher: oil moved 0.6% higher; gold added 0.1% this morning. US economic data calendar include July retail sales (8:30am), August preliminary University of Michigan sentiment and June business inventories (10am). No Fed speakers scheduled for the session

In premarket trading, Mag 7 stocks are mixed (Tesla +0.5%, Microsoft -0.3%, Nvidia +0.2%, Alphabet 0.0%, Apple 0.0%, Amazon -0.1%, Meta -0.1%)

Dronemakers including AeroVironment (AVAV) are higher after the Trump administration said it is applying a 100% tariff on imports of unmanned aircraft systems and their components. AeroVironment shares are up 3%.
Aehr Test Systems (AEHR) rises 8% after Jefferies started coverage on the semiconductor manufacturing company with a buy rating, citing the firm’s growth profile.
Applied Materials (AMAT) falls 5% after the semiconductor capital equipment company’s estimate-topping forecast met with tepid investor reaction following the stock’s frenetic rally this year.
ARS Pharmaceuticals (SPRY) sinks 14% after the company pushed back the timeline for the biotech to reach cash-flow breakeven to the end of 2027. The firm’s management previously expected to reach that mark by the middle of 2027.
Capricor (CAPR) surges 100% after the drug developer said it plans to amend its biologics license application for its drug to treat a rare muscle disease and that the FDA has indicated it is willing to review this amendment. The news spurred an upgrade at Cantor.
Gemini Space Station (GEMI) falls 6% after the crypto exchange founded by the Winklevoss twins reported a wider-than-expected adjusted Ebitda loss for the second quarter amid crypto trading declines.
Globant (GLOB) falls 11% after the IT-services company cut its full-year forecast. It also gave a third-quarter forecast that was weaker than the analyst consensus estimate.
Nubank (NU) gains 10% after the Brazilian fintech reported second-quarter net income that beat the average analyst estimate and saw its 15 to 90-day non-performing loan ratio improve.
Reddit (RDDT) jumps 10% as the social media company is set to join the S&P 500 prior to the opening of trading on Aug. 18.
Sandisk (SNDK) rises 6%, set to extend Thursday’s 14% rally, as JPMorgan assigns an overweight rating following the firm’s investor day.
York Space (YSS) is down 17% after the space and defense company cut the revenue outlook for the full year.
Tech shares again lifted the S&P 500 to fresh highs this month as investors piled into beaten-down semiconductor and other AI-related stocks, with second-quarter earnings exceeding already lofty expectations. After a benign consumer inflation print and producer price data this week, US retail sales numbers on Friday could provide more clues on the direction of Fed policy ahead of next month’s meeting, although according to real-time BofA card spending data, expect a big miss when the data is released at 8:30am.

And speaking of Bank of America, its CIO Michael Hartnett said the “door wide open for bulls to rip risk higher.” He cites soaring earnings, a $10 trillion wealth surge in 2026 and over $1 trillion of AI capex expected in 2027. But most notably he says AI is now so big it is the market, and policymakers simply can not allow stocks to fall as it will spark an economic crash. 

Elsewhere, the chip bubble is baaaaack: South Korea’s Kospi Index – a bellwether for retail and momentum euhoria in chip names – added over 2% Friday, bringing its weekly gain to 11% and snapping a seven-week losing streak. Samsung Electronics and SK Hynix both advanced more than 15% over the past five days.

“A huge amount of hyperscaler money is flowing into hardware,” said Hitoshi Asaoka, chief strategist at Asset Management One. “That is translating into extremely strong sales and profit growth for hardware companies. Investors are returning to the idea of, ‘let’s look at the earnings themselves again.’”

Meanwhile, the threat of lofty energy prices reigniting inflation remains. Brent crude jumped almost 2% on Friday, before reversing the move to trade around $87 a barrel. Treasury Secretary Scott Bessent promised unprecedented “economic isolation” for Iran and a “one-two punch” that includes the continued blockade of the country’s ports. 

European shares hover near record highs with continued support from the artificial intelligence trade and after the region’s equity funds notched their largest inflows in six months. The Stoxx 600 is little changed as software and IT stocks rally, boosted by a report that Silver Lake is in talks to acquire Workday. HelloFresh falls to a record low after a downgrade at Barclays. Here are the biggest movers:

European software and IT stocks post broad-based gains on Friday, with sentiment boosted by a Reuters report that Silver Lake is in talks to acquire Workday. SAP, Dassault Systemes and Nemetschek are among gainers.
Maersk shares gain as much as 6.5% after an upgrade to hold from sell. The shipping company appears to have scope for a further guidance upgrade, and “ample room” for share buybacks over 2027-28.
Aviva shares rise slightly, briefly reaching their highest level since May 2018, after the insurer’s first-half operating profit exceeded estimates. Analysts note the beat was supported by reserve releases, tempering the market reaction.
Autostore shares extend a post-earnings rally after the stock was raised to buy from hold at Deutsche Bank, which cites multiple consecutive quarters of improving momentum, stronger customer engagement and a growing backlog at the warehouse automation firm.
DFDS shares rise as much as 21%, the steepest gain since 2008, after the shipping and logistics firm raised its revenue growth outlook for the year.
Talanx shares rise as much as 5.9%, the most in over a year, after the insurer’s second-quarter net income came in comfortably ahead of estimates and supported a lift to its guidance for the full year.
Napatech shares rally as much as 25%, the most in over three months, after the Danish company that provides Programmable Network Interface Cards used in data centers said it has secured a follow-on production order related to a major AI-infrastructure design win secured in 2025.
Cohort shares gain as much as 7.4%, the most since early July, after the electronic and surveillance technology solutions company announces that its German unit ELAC was awarded a contract to supply integrated sonar systems for the Polish Orka submarine program in collaboration with Saab.
VZ Holding shares jump as much as 10% after the provider of investment advisory services beat expectations in the first half.
HelloFresh shares fall to a record low as Barclays downgrades to underweight and assigns a Street-low price target, saying questions remain about the meal kit provider’s top line.
EnergieKontor shares plummet as much as 18% and hit their lowest level since 2020 after the wind-energy producercut its earnings goal after markets closed yesterday, just hours after reaffirming its guidance.
GB Group shares fall as much as 27%, their steepest drop since 2009, after the identity verification and fraud prevention company lowered its full-year revenue guidance.
Asian stocks rose, poised for their best week in two months, as the AI tech rally regains momentum on fading concerns over Federal Reserve rate hikes. The MSCI Asia Pacific Index advanced as much as 0.7% Friday, extending its weekly gain to about 3%. South Korea’s tech-heavy Kospi gained for a fifth-straight session, its longest streak since mid-June, while Japanese equities also advanced. Indonesian stocks gained after an address to the nation by President Prabowo Subianto before its budget. After last month’s volatile selloff, the AI trade is getting back on track following the latest corporate results. Stocks in South Korea and Taiwan are set for their biggest weekly foreign inflow in months, a sign that global investors are returning after a historic selloff.  “Once traders start searching for yield again, they tend to gravitate back toward that AI and tech picture,” Tim Waterer, chief market analyst at KCM Trade, told Bloomberg TV. “I think that the US earnings season went some way into dispelling some of the fears that were building up about valuations and sustainability of operating margins.” Elsewhere, Hang Seng had its biggest weekly decline in seven weeks. Vietnam fell most in Asia on financial concerns. 

In FX, the Bloomberg Dollar Spot Index falls 0.2% and is on course for its largest decline since last week’s payrolls miss. The Norwegian krone is leading gains against the greenback, rising 0.5%, also helped by higher oil prices. The kiwi is also at top of the leaderboard after underperforming on Thursday. USD/JPY edges down toward 159. European stocks are little changed while futures are pointing to a fairly flat open on Wall Street.

In rates, long-end Treasuries hold losses in early US session, with yields higher by around 1-2bp and extending this week’s curve-steepening move amid similar price action in European bond markets. The US sold 30-year bonds at the highest yield in a quarter century on Thursday, underscoring the premium investors are demanding to finance the nation’s deficits. US 10-year yield near 4.65% is less than 1bp higher on the day with bunds and gilts in the sector lagging by 2.5bp and 2bp; WTI crude futures are up about 0.5%, off session highs. With front-end and belly yields edging lower, US 2s10s spread widens nearly 2bp to 52bp, widest since May 21 and near 200-DMA which has broadly held since March; 5s30s spread is more than 2bp wider near 92bp, last seen May 14. UK and German 10-year borrowing costs rise 3 bps each. IG credit new-issue slate empty so far. Three companies sold a combined $5.85 billion on Thursday, paying about 11bp in new issue concessions on deals that were 2.6 times oversubscribed. Start of next week has the potential to be relatively active.

In commodities, WTI crude oil futures advance as talks around reopening the Strait of Hormuz continue to show limited progress. Brent crude futures rise 0.7% to around $87.60 a barrel and that’s hampered bonds.

US economic data calendar include July retail sales (8:30am), August preliminary University of Michigan sentiment and June business inventories (10am). No Fed speakers scheduled for the session

Market Snapshot

Top Overnight News

The United States on Thursday said that it could maintain a naval blockade of Iran indefinitely and would ratchet up economic pressure on Tehran as ceasefire talks have floundered, global oil supply is dropping and regional tensions are rising. RTRS
The US is pressing NATO allies to demonstrate support for Donald Trump’s policies, as it reviews potential troop cuts in Europe. BBG
Ukraine has sent Russia an offer suggesting they both halt attacks ‌on civilian targets in the Black Sea, a source said, after mounting strikes on vessels and ports there raised fears over global food supplies. RTRS
China’s auto factories are building so many cars for export that the global shipping industry can’t keep up. Specialized car carriers, essentially floating parking garages, are booked out years ahead to export cars from Chinese factories. Rates to charter ships are up 65% this year on the surging demand to move vehicles out of China. WSJ
Tariffs latest: The US is imposing a 100% duty on some imported drones and their components, a move that may significantly affect China. Australia said the US agreed to “consider full exemption or, at the very least, no increase” to the tariffs. BBG
The BoJ is set to raise interest rates as soon as ‌September and is considering hiking more aggressively thereafter from the current pace of roughly twice a year, said three sources familiar with its thinking. RTRS
Japan’s efforts to prop up the yen are creating fresh opportunities as investors return to carry trades — borrowing the low-yielding currency to buy higher-returning assets. BBG
Leading US AI labs such as OpenAI and Anthropic are releasing cheaper models as they fight to retain cost-conscious customers who are switching to cut-price alternatives from Chinese rivals. The price war comes as rising AI bills push companies to curb usage and seek cheaper models, helping Chinese developers including Moonshot and DeepSeek make inroads with users from Silicon Valley to Europe. FT
OpenAI is on track to generate annualized revenue of more than $40 billion based on its current performance, people familiar said. The ChatGPT maker’s revenue has accelerated in recent months. BBG
Fitch affirmed the US at AA+, outlook stable, while it stated that the US rating is supported by a large economy, high per capita income, dynamic business environment and exceptional financing flexibility. However, it also commented that labour demand has weakened and job creation has dropped significantly in 2026, while it expects inflation to move towards the target by year-end 2028.
US White House deputy national security adviser Andy Baker will leave the administration in coming weeks: Axios
A more detailed look at global markets courtesy of Newsquawk

APAC stocks traded mixed as the region only partially sustained the positive handover from Wall Street, where the S&P 500 hit a fresh record high, and the Nasdaq outperformed on tech strength, as softer PPI data further added to the case for the Fed to refrain from hiking rates in September. Nonetheless, the positive momentum began to wane overnight with little fresh major catalysts and after US President Trump signed a proclamation imposing tariffs on drones and components. ASX 200 was pressured as the strength in tech was overshadowed by losses in the heavy industries, including miners, materials, resources and industrials, while participants also digested earnings releases. Nikkei 225 gained and briefly reclaimed the 69,000 level before paring some of the advances, while participants continue to second-guess whether the BoJ will speed up the pace of rate increases. KOSPI outperformed on tech momentum, but is off earlier highs with resistance at the 7,000 level. Hang Seng and Shanghai Comp were subdued amid a slew of earnings releases including from SMIC and JD.com, with the latter pressured despite beating on the top and bottom lines, while sentiment was also not helped by trade-related frictions with the US to impose tariffs of up to 100% on drones, which seems to be aimed at China and DJI, which holds around an 80% share of the global drone market.

Top Asian News

PBoC keeps 7-day reverse repo operation volume at zero, while it injects CNY 349bln via overnight reverse repos.
Taiwan raises 2026 GDP forecast to +11.05% (prev. +9.64%).
Hong Kong revises 2026 GDP forecast to 3.5-4.5% (prev. 2.5-3.5%).
European bourses are broadly softer across the board, outside of the DAX 40 given the gains in SAP (see more below). Over in Asia, memory chip names (Kioxia +3.8%, SK Hynix +3.3%) climbed in Asia-Pac trade after Sandisk gave a positive outlook at its investor day. Sandisk said it expects revenue growth in the mid-to-high teens between 2028-30 and also plans to return 100% of excess cash to shareholders. Sectors are mixed. Tech is the sector outperformer, followed by Media and Insurance. To the downside is Utilities, while Basic Resources and Health Care also underperform.

Top European News

Reform UK leader Farage won the Clacton by-election with 22,293 votes.
FX

DXY gradually weakened throughout the morning to a 99.70 base, despite higher energy prices (Brent +1.5%), which are typically constructive for the USD. Weakness in the Buck likely comes as participants digest the July series of data, which contained dovish components. CPI/PPI were in-line and soft, respectively, while the payrolls figure will likely give food for Fed doves. Today, USD is set to digest US Retail Sales and the UoM survey.
USD/JPY -0.2% and continues choppy action, this time after another BoJ source said the Bank was set to raise interest rates as soon as September; this saw the pair slip 17 pips to a 159.15 base, a level which is being tested at the time of writing. Currently, markets assign a c. 80% probability of such action in September. More pertinently, Bloomberg sources on Thursday said the Takaichi government is said to support faster BoJ rate hikes. The piece also said the bank could raise rates in either September or October; the timing of the latest source potentially the reason why this JPY strength has stuck.
Kiwi is rebounding vs the USD after losses following Thursday’s soft inflation expectations survey; action which has entirely faded with the pair ~0.2% higher than pre-data. NZD/USD +0.4%, once again above all significant DMAs.
NOK is the G10 outperformer, strength which is likely a function of oil prices despite the Norges Bank hold on Thursday raising questions over the removal of the tightening bias from the statement in September. Brent Oct’26 is firmer by 1.5%, after rising throughout the EU morning without a clear catalyst. NOK/SEK sees continues support above 1.00, while USD/NOK broke out of recent ranges
Fixed Income

USTs continue to fall further from Thursday’s peak of 109-03+, after failing to hold above the current range highs of 109-01. The 30-year auction was soft, showing a 0.4bp tail, below-average bid-to-cover and above-average dealer allocation, all pointing to weaker demand despite the considerably higher outright yield on offer. Following the auction, analysts at TD Securities said this is problematic for the Treasury as it must fund the government at more expensive levels. Looking ahead, US Retail sales is on the docket.
Gilts opened lower and trades at the lower end of its 86.90-87.26 range, given the steady climb in energy prices. On the political front, Reform leader Farage won the Clacton by-election as expected. Following the count, More in Common’s Tryl told Politico that despite that impressive raw vote total by Farage, the vote share was at the lower end of expectations, which shows that his opponents are highly motivated to turn out. Focus now turns to the outcome of the Parliamentary investigation into Farage over recent donations.
Bunds continue to trade counter to energy prices, currently trading at the bottom end of its 124.72-125.01 range. A light docket ahead in Europe, given the summer period.
Australia sells AUD 1bln November 2032 bonds, b/c 3.75, avg. yield 4.6868%.
Commodities

Crude futures have been grinding higher throughout the European morning despite the lack of a clear driver. Overnight, US Treasury Secretary Bessent said they will implement unprecedented measures on Iran and are conducting a maximum pressure campaign against Iran. Meanwhile, this morning, Iranian Foreign Ministry spokesman Baghaei said a possible agreement with Oman on a new shipping route through the Strait of Hormuz will not, by itself, mean the strategic waterway will reopen. Furthermore, UKMTO says a tanker was struck by a drone while transiting outbound through the Strait of Hormuz, possibly following comments by ADNOC stating that two of its vessels attacked while transiting the Strait of Hormuz on Thursday.
There have also been a couple of headlines regarding Russia/Ukraine/NATO: NATO HQ confirmed allied jets were scrambled after a drone entered Latvian airspace. Russia’s Foreign Minister Lavrov said an immediate ceasefire in Ukraine is not possible.
WTI Sept and Brent Oct futures have been edging higher since European players entered the market. Brent trades towards the top end of a USD 86.20-88.60/bbl range at the time of writing whilst WTI sits towards the upper end of a USD 80.71-82.99/bbl range. Dutch TTF is firmer by almost 2% intraday and north of EUR 61.50/MWh.
Metals are flat/mixed amid a lack of drivers and in what is seemingly a summer lull. Spot gold resides towards the middle of a USD 4,322-4,363/oz range after dipping under yesterday’s 4,343/oz low. Spot silver ekes mild gains and resides towards the top end of a USD 63.51-64.73/oz range after briefly falling under yesterday’s USD 64.22/oz low. 3M LME copper remains above USD 14k/t in a USD 14,045.20- 14,125.28/t range.
US VP Vance said goal one is to keep oil and gasoline affordable for the US.
China’s State Planner said domestic gasoline and diesel retail price caps will be cut by CNY 230/T and CNY 220/T, respectively; effective on August 14.
Ukrainian official said if a ceasefire is implemented in the Black Sea region, Ukraine could restore grain exports through its seaports within one month.
Trade/Tariffs

US President Trump signed a proclamation imposing tariffs on drones and components, which imposes 100% tariffs on certain-sized drones and a 25% tariff on smaller-sized drones. 10% tariffs will be imposed on drones from the UK and 15% tariffs on drones from the EU, Japan, Liechtenstein, South Korea, Switzerland and Taiwan. Tariffs will take effect 21 days after signing, while for components of drones that are not particularly sensitive, the tariffs will take effect 180 days after signing.
Australian PM Albanese said he spoke with US President Trump and reviewed advancements under the AUKUS defence agreement, while he added that the AUKUS initiative continues full steam ahead. Albanese said he raised the issue of tariffs with Trump and urged him to consider full exemption, while he added that Trump would consider Australia’s request.
Brazil began analysing the reciprocity process on US tariffs, while it was notifying the US about the process and requesting that diplomatic consultations be held.
Central Banks

Fed’s Goolsbee (2027 voter) said they have been getting a little bit better readings on inflation, which he hopes will continue and noted that a lot of inflation drivers were from tariffs, oil and things they hope to be one-time increases. Furthermore, he stated that if they can get some of that into the rearview mirror, they can get inflation heading back to 2%, and that the US economy is steady.
The BoJ is reportedly set to raise interest rates as soon as September and also considering accelerating subsequent hikes, according to reports.
RBA’s Harper will depart from the monetary policy board, and Melinda Cilento has been named as a part-time member of the RBA board.
Geopolitics: Iran

US VP Vance said the US has a lot of tools at its disposal for Iran.
US Treasury Secretary Bessent said they will implement unprecedented measures on Iran and are conducting a maximum pressure campaign against Iran, targeting its bank accounts and digital currencies worldwide, while the pressure campaign caused the collapse of the Iranian banking sector. Bessent added that measures against Iran will be a combination of economic isolation and blockade in the Strait of Hormuz, and he expects more announcements on Iran next week. Furthermore, he said they will take actions unprecedented in the history of economic isolation of a country and will prevent anything from entering or leaving Iranian ports.
Iranian Foreign Ministry spokesman Baghaei said a possible agreement with Oman on a new shipping route through the Strait of Hormuz will not, by itself, mean the strategic waterway will reopen, Press TV reported.
UAE’s ADNOC said two of its vessels attacked while transiting the Strait of Hormuz on Thursday. Following this, UKMTO said a tanker was struck by a drone while transiting outbound through the Strait of Hormuz.
US CENTCOM commander and Saudi Crown Prince MBS discuss mutual defence cooperation and efforts to de-escalate regional tensions, according to Saudi State News Agency.
US President Trump’s son-in-law Jared Kushner is to visit Israel next week for consultations on the situation in Gaza, according to Axios
Airstrikes hit separatist militant group in Erbil, Iraq, according to Tehran Times.
Geopolitics: Ukraine

Russia’s Foreign Minister Lavrov said an immediate ceasefire in Ukraine is not possible, IFX reported.
Drones hit area around Russian Baltic seaport of Ust-Luga, according to the regional governor.
Latvia issued an air threat alert in areas bordering Russia and Belarus, while NATO fighter jets shot down a drone over northeastern Latvia. It was also reported that Finland restricted aviation and maritime traffic in eastern Gulf of Finland.
Geopolitics: Other

North Korea condemned US-South Korean military drills and said the military exercises are more provocative than last year, while it added that US-Japan-South Korea military cooperation is turning into a nuclear alliance. Furthermore, North Korea vowed to respond to a new level of threat with a new level of deterrent and will continue to expand nuclear deterrence, according to KCNA.
Japanese Regional Coast Guard said four Chinese ships intruded into Japanese territorial waters, Kyodo reported.
US Event Calendar

8:30 am: United States Jul Retail Sales Advance MoM, est. 0.1%, prior 0.2%
8:30 am: United States Jul Retail Sales Ex Auto MoM, est. 0.2%, prior -0.2%
10:00 am: United States Aug P U. of Mich. Sentiment, est. 55, prior 55.2
DB’s Jim Reid concludes the overnight wrap

Right. I’m about to go off on holiday to find somewhere cooler after what was the 5th hottest day ever in the UK yesterday. I say 5th hottest but that is recorded history.  Apparently the Early Eocene Epoch some 55 million years ago was the last time these sorts of temperatures were the norm in the UK. Admittedly the country was nearer the Mediterranean then! For the next couple of weeks you’ll mostly find me bathing in an Alpine lake or shouting at my children. Henry and Peter will be holding the fort while I’m gone. See you on the other side.
Before I disappear in search of snow and ice, markets have generally been enjoying the heat. Over the last 24 hours, investors have continued to dial back the chances of a Fed rate hike, sending the S&P 500 (+0.65%) to fresh highs. The biggest catalyst was a downside surprise in the US PPI inflation print, while lower oil prices gave the doves an extra tailwind, with Brent crude (-2.15%) finally snapping a six-day winning streak. As a result, pricing for a September Fed hike fell to just 35% by the close, down from above 50% on the morning of Wednesday’s CPI release, whilst the 10yr Treasury yield (-5.1bps) also moved sharply lower as markets embraced the more dovish outlook.

That PPI release set the tone for the day, as it cemented the view after Wednesday’s CPI that the Fed didn’t need to rush into rate hikes. The data showed monthly headline PPI unchanged in July (vs. +0.2% expected), which meant the year-on-year reading fell back to +4.7% (vs. +4.9% expected). So the release supported the view that the energy shock was fading, and the Fed wouldn’t need to react next month. As ever, there was also some focus on the categories that feed into PCE inflation, which is the Fed’s preferred measure. But those were generally mixed and offset each other, with strength in portfolio management (+6.5%) offset by weakness in other categories like airfares (-3.4%). In net terms, the PPI details added a one basis point to our US economists’ estimate for July core PCE inflation. 

The downside PPI surprise led to an immediate reaction in pricing for the next Fed meeting. For instance, the probability of a September hike had been at 40% right before the release, but was down to 35% by the close. Indeed, the last time a hike by September was considered that remote was back in June, before Warsh’s first press conference was unexpectedly hawkish. That said, there was a reluctance to go much lower on market pricing given we’ve still got the August jobs report and CPI report before the next FOMC meeting. And looking further out, futures are now pricing in a 92% chance of a hike by the December meeting, also the first time since June that this has been less than fully priced.

We did hear from a few Fed speakers as well, but there weren’t really any surprises from a market point of view. Cleveland Fed President Hammack said that “I think we need to act now”, but she’d already dissented for a rate hike in July, so that wasn’t a surprise. Meanwhile, Richmond Fed President Barkin (a non-voter this year) was more dovish, pointing out that much of today’s high inflation “has come from shocks, which should pass”.  

This backdrop of softer inflation and more dovish rates pricing led to a big rally for US Treasuries yesterday. In fact, the 10yr Treasury yield (-5.1bps) fell to 4.64%, whilst the rate-sensitive 2yr yield (-5.9bps) fell to 4.14%, its lowest level in almost a month. And the 30yr yield declined by -4.5bps, though we did see the highest yield at a US Treasury auction since 2001 as $25bn of 30yr bonds were issued at 5.216%. In Asia this morning US yields are back up a basis point across the curve.

The dovish momentum received further help yesterday from lower oil prices, which finally ended their run of gains over the last week. It wasn’t a huge fall, but Brent crude was down -2.15% by the close to $87.07/bbl, ending a run of 6 consecutive daily gains. Brent did rise from its intraday low of $85.85/bbl after the Houthi-run Saba news agency reported that the Houthis were targeting the Aramco refinery in the Jizan region. And earlier on in the session, Iran’s state-run IRIB cited a joint military command spokesman, who said that no ship could safely transit the Strait of Hormuz without approval. But overall, in the absence of material news, some of recent run up in geopolitical risk premium was taken out of oil markets, not least given the sizeable recent shipping via Hormuz by shuttle transfers and ships operating without transponders. Brent is flat this morning.  

Beyond the crude oil moves, it’s worth noting the continued tightness in refined product markets. Crack spreads in the US and Europe remain close to the highs reached in late July. So while crude oil prices are down by over 25% from their spring peak, the decline in refined product prices has been more modest. For perspective, while Brent crude is now +20% above pre-Iran war levels, US wholesale gasoline prices are about +50% higher and European diesel prices are about +60% higher. Just ahead of filling our car before the 14-hour drive to the Alps!

Whilst the PPI reading and lower oil prices were the main market drivers yesterday, we also had the US weekly initial jobless claims. They were a bit higher than expected, rising to 209k in the week ending August 8 (vs. 202k expected), so again that cemented the view that the Fed could stay on hold at the next meeting. And in turn, all this dovish newsflow benefited US equities, with the S&P 500 (+0.65%) at another record. This was aided by a recovery for the Magnificent 7 (+1.20%) as well as tech stocks more broadly as the NASDAQ (+0.81%) and the Philly semiconductor index (+0.46%) also advanced. But it was a positive day more broadly with the equal-weighted S&P 500 (+0.74%) outperforming and hitting a new high as well.  

Earlier in Europe, markets hadn’t been quite as resilient, with the STOXX 600 (-0.04%) edging lower for a second consecutive session. In part, that reflected Europe’s smaller exposure to tech, and also that ECB pricing didn’t move as much as Fed pricing did. Indeed, investors continue to price a September rate hike as a 90% chance for the ECB. So yields saw a comparatively smaller fall in Europe than the US, with those on 10yr bunds (-2.9bps), OATs (-3.5bps) and BTPs (-4.8bps) ending the day lower. UK gilts were a particular underperformer, with the 10yr yield only down -1.9bps after the monthly GDP print surprised on the upside in June, unexpectedly rising by +0.3% (vs. -0.1% expected).  

In Asia this morning, the KOSPI (+1.99%) continues its recent comeback, extending its rally to a fifth straight session, with the Nikkei (+0.56%) also firm. In contrast, Hong Kong’s Hang Seng (-0.93%) and Australia’s S&P/ASX 200 (-1.01%) are under pressure, while mainland Chinese benchmarks are seeing modest declines, with the CSI 300 (-0.12%) and Shanghai Composite (-0.21%) edging lower. S&P 500 futures are flat with the Nasdaq equivalent -0.15%. European futures are back up a quarter to half a percent as I type.

Looking at the day ahead, data releases include US retail sales for July, and the University of Michigan’s preliminary consumer sentiment index for August. Meanwhile in the Euro Area, there’s also the second estimate of Q2 GDP.

Tyler Durden
Fri, 08/14/2026 – 08:04

While the debate rages on over whether biological men belong in women’s sports, the WNBA has become the defacto battleground for these ideological arguments.At the center of it all is perhaps one of the league’s most recognizable stars, Indiana Fever guard Sophie Cunningham.Cunningham was embroiled in some controversy last month when she stated that men staying out of women’s sports was “common sense.”SOPHIE CUNNINGHAM DOUBLES DOWN AHEAD OF SUN GAME AFTER ESPN PROFILE STIRS CONTROVERSY: ‘I SAID WHAT I SAID’After doubling down on this, Cunningham faced a litany of criticism from some familiar faces, including her podcast co-host and Bravo star West Wilson.Recently, another Bravo personality has thrown his hat into the ring, this time in defense of the Fever guard.Steven McBee Jr., star of the reality show “McBee Dynasty: Real American Cowboys,” joined OutKick’s very own Tomi Lahren on her show, “Tomi Lahren Is Fearless” to clap back at his fellow Bravo coworker.”As a man, the transgender sports things doesn’t necessarily affect me because if a woman wanted to come over and play in men’s sports, hey, good luck,” McBee said. “So I don’t think any man should be really speaking from their perspective on things.”STAY “FEARLESS” ON THE GO! TAKE TOMI LAHREN WITH YOU. DOWNLOAD THE TLIF PODCAST NOW!McBee explained that he respects Cunningham for coming out, voicing her opinion and standing up for what she believes in, while saying Wilson’s comments weren’t surprising and that “it’s no secret… which way he leaned politically and what he likes to promote.”While McBee was quick to point out that Wilson’s leftist beliefs fueled his rant against Cunningham’s position last month, he argued that this should be an issue that transcends politics.”It shouldn’t be right-wing and damn sure shouldn’t be men commenting on who and what should be allowed in women’s sports,” McBee reasoned. “That’s for, in my opinion, women to decide because they’re the ones dealing with the repercussions, whatever may come from that.”It will be interesting to see if more lines are drawn in the sand on this issue from other Bravo personalities.With the network seemingly split down the center, there are bound to be more who voice their opinions on such a polarizing matter.

New court documents reveal revenge may have motivated a deadly attack and home invasion at a couple’s home in a quiet beach town in Connecticut, according to a report.Frederick Werner, 69, was found dead with multiple gunshot wounds inside the Milford home on East Broadway; his partner was shot in the head, police say, and is still recovering from her injuries.Murder suspects Ivan Barias-Florimon, 24, and Stuar Lopez-Reyes, 25, who the Department of Homeland Security confirmed to Fox News Digital are Dominican nationals, were arrested in connection to the June 3 incident.SUSPECTS IN DEADLY CONNECTICUT HOME INVASION ARRESTED IN ATTACK THAT ROCKED BEACH TOWNDHS BLASTS MINNESOTA BOARD FOR UNANIMOUSLY PARDONING ILLEGAL IMMIGRANT CONVICTED OF 3 ASSAULTSAccording to an unsealed arrest warrant, the female victim, who survived a gunshot to the head, told investigators she had recently fired one of her employees and suspected that may have played a part in the attack, CT Insider reported.📩 Send me a story idea: kelsie.cairns@fox.com📸 Instagram: kelsiecairns_tv🎥 Facebook: Kelsie CairnsThe victim suspected the employee of stealing money from her real estate business, she told investigators.FOLLOW THE FOX TRUE CRIME TEAM ON XThe warrant says text messages between this fired employee and Barias-Florimon revealed his alleged enraged reaction to the firing; it is unclear what the nature of the relationship between the pair was.SIGN UP TO GET THE LATEST TRUE CRIME NEWSCT Insider reported the fired employee texted Barias-Florimon that her boss is “going to make my life hell,” the woman texted.SEND US A TIPBarias-Florimon responded and said “I’ll make her life hell,” the warrant said.LIKE WHAT YOU’RE READING? CLICK HERE FOR MOREGOT A TIP?More texts reveal he also allegedly texted the woman, “[just] say the word” and “[I’ll] **** her lifee OVERRRRRR,” the warrant said.LISTEN TO THE NEW ‘CRIME & JUSTICE WITH DONNA ROTUNNO’ PODCASTAs for the other suspect, Lopez-Reyes, the victim reportedly told investigators that she was fearful of him and was able to identify him as the other suspect seen inside the home, as captured on video surveillance, according to the warrant.GET BREAKING NEWS BY EMAILBoth suspects are facing charges including murder and assault on an elderly person in connection with the incident. Both await upcoming court appearances as they sit in jail.DHS previously confirmed to Fox News Digital that the agency is seeking to revoke the green cards of the two suspects.

Two metal detectorists recently struck gold — literally — after finding three Bronze Age gold bracelets worth six figures.The detectorists, Alan Daniels, 48, and Andy Crammond, 34, found the bracelets near Carlisle, England in May, Bournemouth News and Picture Service (BNPS) reported.Images show the bracelets — also called torcs — in remarkable condition.METAL DETECTORIST’S ‘FEELING’ LEADS TO MASSIVE ROMAN SETTLEMENT DISCOVERY IN POPULAR TOURIST HOTSPOTThe bracelets date back to roughly 1100 B.C., and have a combined weight of 18.27 ounces, or 1.14 pounds. They’re estimated to be worth roughly $400,000, according to BNPS.”Gold doesn’t tarnish at all, and they came out of the ground just the same as when they went in over 3,000 years ago,” Daniels said.Speaking to BNPS, Crammond joked about almost having a heart attack when he found the first one just a few inches under freshly ploughed soil.He alerted Daniels, who searched the area and soon found a second one.MAJOR ROMAN TREASURE HOARD RECOVERED AFTER DETECTORIST KEPT IT SECRET FOR YEARSDaniels later found a third torc about 20 feet away from the others.”Detectorists dream of these things and that is how it still feels, like a dream,” said Crammond, per BNPS.”I’m waiting for someone to come out of the woodwork and say they aren’t real. It is the find of multiple lifetimes.”Daniels told BNPS this is the first time he’s found a valuable item.COUPLE STUNNED AS TUDOR-ERA TREASURE SURFACES BENEATH THEIR BACKYARD GARDEN”We have been detecting together now for a few years,” he said.”We have never found anything valuable before and always come home disappointed — until now.”The hobbyist initially thought that the excursion might be a waste of time.”After about two hours, all we had found were some bits of aluminum cans,” Daniels said.CLICK HERE TO SIGN UP FOR OUR LIFESTYLE NEWSLETTER”We changed fields. … I went off in one direction and Andy in the other. After a short while, I saw the figure of Andy out of the corner of my eye walking toward me [with the treasure],” added Daniels.The torcs are being assessed by the British Museum.A coroner will ultimately determine whether the torcs legally qualify as treasure under British law. If they do, a museum or institution could buy them at market value, with the proceeds shared among Crammond, Daniels and the landowner.CLICK HERE FOR MORE LIFESTYLE NEWSIf no buyer comes forward, the torcs could be returned to the finders to sell at auction.TEST YOURSELF WITH OUR LATEST LIFESTYLE QUIZMetal detecting has turned up some striking ancient finds in recent months.Earlier this summer, a metal detectorist discovered a remarkably preserved 2,700-year-old bronze sword standing upright in the ground in northern Poland.In Australia earlier this year, a metal detectorist who was exploring a former Gold Rush-era campsite discovered an unusual coin at an abandoned sports field.

Nigel Farage during his victory speech on Thursday evening.
Nigel Farage has declared an “overwhelming” victory in the Clacton by-election after resigning his seat and asking his constituents to renew his parliamentary mandate.
The Reform UK leader triggered the election last month amid a parliamentary investigation into a £5 million gift he received before becoming an MP.
Rather than allow Westminster to determine his political fate through a standards investigation, Farage put the question directly to the voters.
“I called this by-election because I wanted the people of Clacton, the voters of this constituency to be my judge, not the mainstream media in Britain,” Farage told supporters Thursday.
“The verdict has now come in,” he continued. “It is a convincing, overwhelming win.”

BREAKING: Nigel Farage says he has won “far more” votes in the Clacton by-election than he did in 2024
“In doing so, we have beaten the candidate for the uniparty: Count Binface” pic.twitter.com/5Vgqyl8rTA
— Politics UK (@PolitlcsUK) August 14, 2026

Farage said he had secured more votes than he received during his historic 2024 victory, when 21,225 people backed him and finally sent the Brexit leader to Parliament after seven previous attempts.
Other political parties refused to field candidates.
Despite their boycott, turnout reached a respectable 44.37 percent, higher than several recent parliamentary by-elections.
The most visible candidate to run against him was a man who calls himself “Count Binface.”

WATCH: Count Binface responds to Nigel Farage calling him the “establishment candidate”
“That’s interesting, isn’t it? Because one of the candidates was a sitting MP, formerly an MEP and the architect of Brexit… if that’s not the establishment, I’d like to know what is” pic.twitter.com/jED2JLi4mi
— Politics UK (@PolitlcsUK) August 14, 2026

Farage portrayed the result as a humiliation for the political establishment that had spent weeks attacking his decision to force the contest.
“The voters of Clacton have stuck two fingers up to the entire political establishment,” he declared.
Farage will not attend the formal declaration after Reform said Essex Police advised him to stay away because of a “credible threat” against him.
The Reform leader said he had also been warned about an “organised campaign to disrupt and degrade the result.”
“I am damned if I am going to stand on a stage, having won a resounding victory… and be demeaned and humiliated by nobodies,” he said.

WATCH: Nigel Farage says he will not attend the Clacton by-election count after advice from the police
“There is an organised campaign to disrupt and degrade the result that will take place in a few hours time” pic.twitter.com/aOG7RNISXm
— Politics UK (@PolitlcsUK) August 14, 2026

The official declaration is expected early Friday morning.

The post Britain’s Nigel Farage WINS ‘Overwhelming’ Special Election Victory Against Man Dressed as a Bin (VIDEO) appeared first on The Gateway Pundit.

Screengrab Social Media/X
First – the wildfires; now – the droughts.
We have been reporting on how the hot summer season in Europe is causing all kinds of disturbances – and one of the most consequential is the drought of many important rivers of the continent.
The mythic ‘Blue Danube’, for example, is so low that it’s causing real problems in the energy system of both Hungary and Romania.
Today (13), it arises that Romania has been forced to completely shut down its only nuclear power station.

Romania has begun shutting down both reactors at its Cernavodă nuclear plant after months of drought and extreme heat pushed the Danube to record-low levels.
The plant normally supplies around 20% of the country’s electricity.
Follow: @europa pic.twitter.com/cpf4gwJKhh
— Europa.com (@europa) August 13, 2026

BBC reported:
“The Cernavodă plant, where two reactors produce about 20% of Romania’s electricity, is not expected to be restarted within the next 10 days.
Earlier this week, authorities tried to increase the water flow to the plant – which uses the Danube for cooling – by sinking barges loaded with rocks in the river.
Neighboring Hungary has so far avoided a shutdown of its only nuclear plant in Paks, which also uses the Danube. The waters in Europe’s second-longest river have fallen to the lowest levels for 30 years in several countries.”

Cernavodă nuclear plant shuts down indefinitely today
Reactor 2 is being gradually disconnected due to critically low Danube levels
Romania now relies on energy imports pic.twitter.com/hQxHEQt0sy
— Brave Romania (@brave_romania) August 13, 2026

Euronews reported:
“The Cernavodă plant, which usually generates a fifth of Romania’s electricity, has been shut down just once before, in 2003, due to drought.
The national nuclear energy company Nuclearelectrica had already shut down one of the plant’s two reactors last month and announced on Thursday that it needed to shut the second as well ‘due to the significant and ongoing drop in the water level of the River Danube’.
Romania had been trying to avert a complete shutdown of the plant’s two 700MW reactors. It had budgeted more than €2 million to try to divert the Danube’s flow in order to maintain cooling of the reactors, including blowing up a rock and sinking four barges filled with rocks into the river.”

Romania shuts down the Cernavodă Nuclear Power Plant due to critically low Danube levels
This is the first such shutdown in 23 years. There is no longer enough water in the river to properly cool the reactors.
The country has already begun importing electricity from Ukraine. pic.twitter.com/mN9FOhnGEd
— NEXTA (@nexta_tv) August 13, 2026

Read more:
EUROPEAN DROUGHT: Danube’s Water Level Has Gotten SO LOW that WW2 Nazi Shipwrecks and Even 1,000-Year-Old Mammoth Fossil Are Revealed in the River Bed (VIDEOS)

The post Romania Forced to Shut Down Its Only Nuclear Power Plant as the Water Levels in the Danube River Drop More appeared first on The Gateway Pundit.