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Fed Chair Warsh delivers his first Jackson Hole keynote at 10am ET today. Hammack called for a rate hike Thursday. Hammack, who dissented in July, spoke the day before Warsh. Not a coincidence. Fox
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A tanker was hit by a projectile in the Strait of Hormuz near Oman. Second attack this week. Qatar’s PM flew to Tehran to de-escalate. Reuters
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Nvidia agreed to acquire Hugging Face for $12.9B. The stock gained 8.7% Thursday on its earnings beat. Seven-day losing streak into the biggest one-day gain in a month. BBG
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S&P 500 rose 0.7% to 7,731. Nasdaq climbed 1.6%. Best day for both since Aug 4. CNBC
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Salesforce jumped 22.6% after announcing an AI partnership with Anthropic. It also booked a $2.6B gain on its Anthropic stake. CNBC
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Initial jobless claims fell to 203,000, down from 207,000. Below the 208,000 forecast. BLS
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Trump renamed Lake Ontario to “Lake America” by executive order Thursday. The trade war with Canada now has its own geography. AP
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Trump is considering renewing his push to fire Fed Governor Lisa Cook. Her lawyer called the mortgage fraud allegations legally groundless. The Supreme Court blocked the first attempt in June. BBG
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Russia launched missiles and drones at 9 Ukrainian cities Wednesday night. Strikes began after dark and ran into Thursday morning. AP
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Bank of Korea raised rates to 3.0%, its second straight hike. Semiconductor boom is driving inflation higher. Reuters
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