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FAA certifies Boeing's new 737 Max 7 jetliner for flight after years of delays The Federal Aviation Administration on Monday approved the smallest model of Boeing's Max jetliners for commercial service nearly a decade after the aircraft manufacturer first unveiled the plane. Read More.

🍿 1 fun thing: Spidey beats Avengers Left to right: Sadie Sink, Jon Bernthal, Tom Holland, Zendaya and Jacob Batalon at last week's L.A. premiere of "Spider-Man: Brand New Day." Photo: Amy Sussman/Getty Images "Spider-Man: Brand New Day" swung to a record-setting $360 million domestic opening weekend, topping the $357 million mark set by 2019's "Avengers: Endgame" (not adjusted for inflation). The Tom Holland-led flick finds the webslinger protecting New York City with renewed anonymity, new powers and new enemies. 💰 "Brand New Day" looks likely to overtake "Toy Story 5" for the top-grossing movie of the year, with Woody and Buzz's latest adventure sitting at $461.7 million. Go deeper.

🕯️ Former U.S. Rep. Kay Granger, the first Republican woman to represent Texas in Congress, has died at 83. N.Y. Times obit (gift link).

🤖 The White House said today that it met its deadline to establish a voluntary framework for evaluating advanced AI models. But it won't say what the framework contains, who's seen it or when companies will start using it. More from Maria Curi. 25 states sue over Trump’s new tariffs, calling them ‘pretext’ to replace his old ones WASHINGTON (AP) — Twenty-five states sued the Trump administration Monday over its latest tariffs, calling them a pretext for replacing import taxes the Supreme Court struck down in February. https://apnews.com/article/tariffs-25-supreme-court-import-taxes-120895adbee7ae06157cd5f4bf5c7583? Trump overhaul could gut Head Start preschool standards, leaving states to set the rules President Donald Trump's administration is planning a dramatic overhaul of Head Start that would gut its quality standards, upending the hallmarks of the early education program for impoverished children, two people familiar with the deliberations said. Read More. Trump accounts were closed in 2021 due to concerns over possible money laundering, Capital One says Bank accounts held by President Donald Trump were closed by Capital One in 2021 after it flagged financial activity that had characteristics of money laundering, the bank disclosed in a court filing over the weekend. Read More.

🦠 Two people in Michigan have died in connection with the multi-state cyclospora outbreak — the first confirmed deaths related to the microscopic parasite. Officials said that both people had underlying health conditions. Get the latest.

⚽️ FIFA drop-kicks private equity plan Illustration: Aïda Amer/Axios. Stock: Getty Images FIFA has dropped plans to form a commercial subsidiary backed by up to $4.2 billion in private investment, Axios' Dan Primack reports. The deal was subject to ratification by FIFA's 211 national football governing bodies, but it never got to a final vote. Instead, it was preemptively rejected by regional confederations in Europe (UEFA), North/Central America (CONCACAF) and Asia (AFC). 💰 The deal would've been led by Joshua Kushner's Thrive Eternal, which believed it would provide more financial resources to smaller and/or poorer countries. But Thrive misread the politics and the psychology involved, including a lack of trust in FIFA President Gianni Infantino. Go deeper.

Mega-swings for mega-caps Data: S&P Capital IQ, Wharton WRDS. Chart: Erin Davis/Axios SpaceX lost $773 billion in market capitalization from June to July, Axios' Emily Peck and Erin Davis report. That's the biggest month-to-month drop for any company dating back to 1970. Reality check: SpaceX's market cap is still relatively high, at $1.4 trillion. 🖼️ The big picture: This isn't simply about CEO Elon Musk. The stock market is in a mega-cap era, and it's dealing with lots of volatility. Thirteen U.S. public companies now have a market cap of $1 trillion or more, mostly in the tech sector: Apple, Amazon, Nvidia, etc. When the numbers are that big, so are the losses and gains. 🌊 What's next: SpaceX faces two big tests this week: reporting its first financials as a public company, and potentially coping with a flood of unlocked stock. Starting Thursday, SpaceX employees and some early investors will be able to sell 911.5 million shares. That's 12% of the total — and more than the 640 million shares currently available for trading. Go deeper.

Full Horror of Trump’s Giant Vanity Project Exposed A federal review names no fewer than 37 landmarks that the president’s vainglorious “triumphal arch” would harm. Donald Trump’s own officials just listed almost 40 landmarks in and around the nation’s capital that his tacky “triumphal arch” would adversely affect. The gilded monument, nicknamed the “Arch de Trump” after France’s Arc de Triomphe, is destined for Memorial Circle, the roundabout leading to Arlington National Cemetery. It’s set to rise to 250 feet, dwarfing the 99-foot Lincoln Memorial across the Potomac River. Trump, 80, is racing to get it built before his term ends in January 2029. The updated roster of sites it will negatively impact, reported by The New York Times on Monday, comes from a review by the National Park Service under Section 106 of the National Historic Preservation Act. Roger W. Kirchen, Virginia’s state historic preservation officer, wrote to the agency in June that the damage promised by the arch is the whole point of the project. It is “intended to dominate the surrounding landscape,” he said. Officials who reviewed the plans found the structure would obscure what mourners see from the Eternal Flame marking President John F. Kennedy’s grave. It would also sever the planned axis linking Arlington House, Confederate Gen. Robert E. Lee’s former home, with the Lincoln Memorial—a corridor laid out to mark national healing after the Civil War. The arch would also push into the frame at the Jefferson Memorial’s steps, on Georgetown’s waterfront and from the top floors of the U.S. Capitol. Ed Stierli, vice president for government affairs at the National Parks Conservation Association, told the Times that the designs mean “you’re building something that will irreversibly harm the experience in these other locations.” Outside groups have until Thursday to file comments before the review is finalized. Final approval from the National Capital Planning Commission, which Trump has filled with allies, could come at a meeting scheduled for Sept. 3. The Park Service did not respond to the Times’ questions about how the review has been run. Gary Langston, a retired U.S. Army colonel who has objected at the project’s public hearings, asked officials to picture a veteran at a service member’s grave. “You’re going to see this thing looming over you,” he told the paper. Veterans also warn that building work, forecast by the administration to run 20 hours daily over several years, will intrude on funerals. The White House is standing by the project. “It will enhance the visitor experience at Arlington National Cemetery,” spokesman Davis Ingle said in a statement to the newspaper. The Daily Beast contacted the White House for further comment. Ingle said “the Triumphal Arch in Memorial Circle is going to be one of the most iconic landmarks not only in Washington, D.C., but throughout the world.” The arch is one thread in a wider redecoration of the capital. Trump tore down the White House East Wing to make way for a $600 million, 90,000-square-foot ballroom, with taxpayers covering more than half. His $14 million “American flag blue” refit of the Lincoln Memorial Reflecting Pool succeeded only in turning its waters a brilliant, algal green that the president has claimed is the work of vandals rather than the contractors he hired for the job. His handpicked Kennedy Center board voted in December to put his name on the building. A judge later ordered it stripped from the facade. He has also put his name on the U.S. Institute of Peace, paved over the Rose Garden lawn, and unveiled a $22.5 billion overhaul of Washington Dulles International Airport—the same airport he had earlier pushed to have renamed for himself. The Daily Beast contacted the Department of the Interior for comment from the National Park Service. “Great nations build beautiful structures and works of art that cultivate national pride and love of country,” a spokesperson said, calling the arch “a project that all Americans can be proud of.” https://www.thedailybeast.com/full-horror-of-trumps-giant-triumphal-arch-laid-bare-in-national-parks-service-review-of-vanity-project/?

Trump Suck-Up Begs White House Goons to Help Save His Job Gianni Infantino is facing an open revolt over his failed bid to sell off World Cup assets to private investors. Donald Trump’s pal, FIFA President Gianni Infantino, is appealing to top administration officials to help him keep his job as he faces a mutiny over his failed plot to sell a stake in the World Cup to a firm connected to the U.S. president’s inner circle.FIFA executives and regional soccer associations alike are calling for Infantino’s removal over his plan to sell a $20 billion minority stake in the World Cup to a group of investors led by Thrive Capital, which is run by Trump son-in-law Jared Kushner’s younger brother Joshua. The deal would have reportedly netted Infantino a commissioner role with a $30 million salary—or five times his current salary of $6 million—but was abandoned after near-universal outrage. Faced with an open revolt against his leadership, Infantino, 56, is now hoping Trump insiders can prevent his ousting, The New York Post reported. He has repeatedly tried and failed to reach Trump, 80, by phone since the deal collapsed on Friday, and has instead scheduled a call with Secretary of State Marco Rubio for Monday. “He wanted to get online with the secretary and talk about how soccer can be a form of soft power for America,” an insider briefed on the matter told the Post. “But we all know that it is about job protection. It is not about anything else at this point.” Assistant Secretary of State for Global Public Affairs Dylan Johnson denied the report in a post on X. “There are no plans for @SecRubio to speak with Infantino and there is no call this morning,” he wrote. “@nypost should check their sources or they could have just asked us.” Rubio joined Trump and Infantino for this year’s World Cup final at MetLife Stadium in East Rutherford, New Jersey. The Swiss-born soccer administrator has been friends with the president for years and spent much of the lead-up to this year’s World Cup flattering the president. He held press conferences in the Oval Office, allowed Trump to keep last year’s Club World Cup champions trophy, and even invented a fake FIFA “Peace Prize” specifically for Trump. The Daily Beast has reached out to the White House for comment. All of that courting was intended to guarantee a smoother World Cup, which was held this summer in cities across North America, but has so far failed to stop the fallout from the privatization plan. The powerful Union of European Football Associations (UEFA), the governing body for 55 national soccer associations, has called for Infantino to resign, and officials at FIFA have launched a campaign nicknamed “Project Kill the Monster” to force him out, according to the Post. FIFA’s chief operating officer Kevin Lamour told the AP on Friday that he wasn’t aware of the secret talks to create a new subsidiary called FIFA Forward Enterprise to manage the privatization plan, and that he felt “deceived” by Infantino. UEFA has also threatened legal action and demanded that Infantino and other FIFA officials “preserve all documents” related to the abandoned deal, the BBC reported. When reached by the Daily Beast for comment, a spokesperson for FIFA said the organization “does not comment on speculation regarding internal relationships.” https://www.thedailybeast.com/fifa-boss-gianni-infantino-begs-white-house-goons-to-help-save-his-job/? ps:Well when you get in bed with a criminal you get what you deserve! And I won't be surprised if he throws him under the bus also!!!!!

Trump once again threatens massive escalation against Tehran only to walk back On Friday, President Donald Trump warned of a strong military response against Iran. But by late Saturday night, he declared on social media that there were signs of progress on negotiations and that he was calling off massive strikes for the time being. Read more. Why this matters: Trump may still come to the conclusion that a massive escalation in the conflict with Iran is necessary. But critics say his hesitation also might reflect an unspoken understanding inside the administration that U.S. military might alone may not be enough to compel Iran to back down and bring an end to a now monthslong war that Trump had earlier downplayed as a weekslong excursion. While Trump has reveled in the U.S. military decimating layers of Tehran’s leadership and devastating its air force and navy, Iran is betting it can outlast Trump as he faces diminished stockpiles of munitions and the difficulty of executing a war that is unpopular with the American electorate ahead of November’s midterm election. RELATED COVERAGE ➤ Trump says talks on Iran war will begin on Monday A timeline of Trump’s threats and olive branches in the Iran war Trump says Gulf leaders’ input weighed heavily in decision to hold off on ordering new Iran strikes

Senate showdown All eyes are on Michigan as voters head to the polls Tuesday for a marquee Democratic Senate primary that could shape the fight for control of the Senate. The contest will also offer a fresh test of the Democratic Party's direction, pitting a rising progressive candidate against a more moderate member of Congress. Democrats must first hold this open seat, vacated by retiring Sen. Gary Peters, and then flip four Republican-held seats if they hope to reclaim the Senate majority they lost in 2025. AP Decision Notes: What to expect in Michigan’s state primary Michigan voters will decide a competitive Democratic U.S. Senate primary Tuesday in a contest that not only has implications for control of the chamber next year but will also test the growing clout of the party’s progressive wing as well as that of a powerful pro-Israel organization. Read More. AP Decision Notes: What to expect in the Kansas state primary Kansas Republicans will narrow down a crowded field for governor in a state primary Tuesday as they look to retake the state’s top office after eight years of Democratic rule. Democrats will decide competitive primaries for governor and U.S. Senate, while Kansans across the state will consider whether to amend the state constitution to allow direct election of state Supreme Court justices. Read More. AP Decision Notes: What to expect in Missouri’s state primary A St. Louis-area congressman faces a Democratic primary rematch Tuesday against the former congresswoman he previously ousted, a showdown that has again drawn the attention of a powerful pro-Israel organization. Read More. AP Decision Notes: What to expect in Washington state's primary Nine contenders for one of the nation’s most hotly contested congressional seats will compete in the Washington state primary on Tuesday for two spots on the November general election ballot. Voters across Washington will also choose finalists for the state’s nine other congressional seats, as well as for the state Legislature and state Supreme Court. Read More.

Washington state fires Hundreds of homes and other structures have been destroyed as firefighters battle three major wildfires in Spokane County, Washington. No injuries or deaths have been confirmed, though officials say it will take time to assess the full extent of the damage. More than 60,000 people have been evacuated, and the fires have scorched over 7,000 acres with zero containment since igniting Saturday. Today, firefighters are expected to get their best weather conditions in days, offering a chance to slow the flames and make progress. Fires in Washington state have burned 600 structures and forced 60,000 evacuations The fires in and around Spokane, the state’s second-largest city, burned about 8.2 square miles over the weekend. Read more. What to know: These blazes were among dozens of wildfires across the Western U.S. that stretched the ability of federal, state and local agencies to fight them. Meanwhile, crews were fighting a fire that has burned nearly 525 square miles in western Idaho and eastern Oregon. RELATED COVERAGE ➤ WATCH: Spokane mayor says federal resources deployed How to protect yourself from the bad air caused by wildfires WATCH: Washington governor says he talked to Trump about wildfires Photos of wildfires in the US and Europe Water-dropping aircraft take off to tackle major Greek wildfire, after 2 killed in crash

'Anti-weaponization' fund President Donald Trump's attorney general nominee Todd Blanche said Sunday he is rescinding the president's $1.8 billion "anti-weaponization" fund after Senate Republicans threatened to block his nomination over the controversial agreement. The fund would have offered taxpayer money to people who claimed they were victims of weaponization by the federal government – including those involved with the January 6, 2021, Capitol riot. Blanche had already said the fund was dead, but by officially rescinding his previous order, he removes one of the biggest obstacles to his confirmation. ps:What? So he can re-bring it after his conformation?????

August 3, 2026 By Evan Gorelick Good morning. President Trump said that new talks with Iran would begin today. And Ariana Grande said she’d take a break from public life after her tour ends next month. There’s more news below. But first, we’re sizing up tomorrow’s primary contest in Michigan — and what it means for the future of the Democratic Party. Dr. Abdul El-Sayed and Representative Haley Stevens. Nick Hagen and Emily Elconin for The New York Times Michigan looks left Democrats are focused on Israel. There are plenty of other big, thorny issues at play this primary season — health care, taxes, immigration. But for many voters, the candidates seem to come in two flavors: Israel supporters and Israel detractors. So far, the supporters are getting crushed. Voters in Colorado, Illinois, New Jersey and New York have rejected them in favor of progressive candidates who have called the Gaza war a genocide and campaigned on stanching U.S. military aid to Israel. Each rebuke seems to deepen the sense that the party is drifting leftward. But these tests have taken place mostly in deep-blue districts. So tomorrow, when Democratic voters in Michigan — a swing state that went for Donald Trump in 2024 — pick their candidate in a do-or-die Senate race, the entire party will be watching. The matchup On the left side of the ring is Representative Haley Stevens, a moderate in a district north of Detroit. On the further-left side of the ring is Dr. Abdul El-Sayed, a progressive former public health official and professor. They’re competing for the seat held by Senator Gary Peters, a moderate Democrat. (He’s retiring.) The winner will face the Republican Mike Rogers, a former congressman. Two years ago, Rogers ran for Michigan’s other Senate seat and lost by 0.3 percent, some 19,000 votes, to Elissa Slotkin, a moderate Democrat. Haley Stevens Stevens does not believe there has been a genocide in Gaza — and has received a record $30 million in advertising help from AIPAC, the nation’s leading pro-Israel lobbying group. (She once said at a Hanukkah celebration that “Israel comes to me in my dreams.”) Yet she has sought to shift the debate away from Israel. In an interview with The Times, she made it clear that she’d prefer to talk about rising costs and the struggles of manufacturing industries under Trump. Haley Stevens Emily Elconin for The New York Times Stevens, 43, has worked in and around politics since she graduated college, and she holds relatively few public campaign events. When she does, she speaks with a thick Midwestern accent that has been shared and memed ad nauseam. She has won over many Black voters with help from an old boss, Barack Obama. AIPAC shelled out more than $6 million on an ad showing Obama praising Stevens, who once served on a task force in his administration. (Obama has not endorsed her.) Stevens says she has the broad appeal needed to beat Rogers in the general election, and she’s backed by a parade of establishment Democrats in Michigan — Peters, Slotkin, Gov. Gretchen Whitmer — and beyond, including Senator Chuck Schumer. Read more about Stevens. Abdul El-Sayed El-Sayed is campaigning on a sharply anti-Israel platform that also calls for abolishing ICE, raising taxes on the rich and making Medicare available to all Americans. He’s a charismatic speaker who can draw a crowd. And he’s keenly aware that Democratic voters are in an anti-establishment, Israel-skeptical mood. He has called Israel’s government “evil” and hammered Stevens for her ties to AIPAC, a newly polarizing force in the party. He has refused money from corporate PACs and pulled in nearly $15 million from individual donors. Abdul El-Sayed Nick Hagen for The New York Times A Michigan-born son of Egyptian immigrants, El-Sayed, 41, would be the country’s first Muslim senator. He trained as an epidemiologist, became a professor and then led the Detroit Health Department. He ran for governor in 2018 but lost by more than 20 points. Now buoyed by young, white and college-educated voters, El-Sayed rallies with progressive luminaries like Representative Alexandria Ocasio-Cortez, Senator Bernie Sanders and the leftist streamer Hasan Piker. While many of his boosters label themselves as democratic socialists, El-Sayed does not identify as one, and he hasn’t been endorsed by the Democratic Socialists of America. Read more about El-Sayed. The stakes Democrats need to keep the Michigan seat blue and flip at least four Republican-held seats in other states to win control of the Senate. For progressives pushing the party to rethink its relationship with Israel, this race matters far beyond Michigan. Same goes for establishment Democrats feeling queasy about El-Sayed’s electability — and for some Jews fearing where he could take the party. But El-Sayed may be cruising. Polls released this past week showed him with a 10- to 19-point lead over Stevens. The online prediction markets Kalshi and Polymarket are bullish; as of last night, they put his odds of winning at around 97 percent. Related: In the video below, Shane Goldmacher, our national political correspondent, explains why Democrats must defend the Michigan seat and why Republicans see an opportunity. Click to watch. The New York Times More races to watch tomorrow: Michigan’s Seventh congressional district, one of the most competitive in the country, will choose between Trump’s former ambassador to Ukraine (who resigned last year, protesting the president’s coziness with Russia); a retired Navy SEAL; and a progressive organizer backed by Bernie Sanders. The winner will face the incumbent, Tom Barrett, one of a handful of Republicans who have voted in favor of checking Trump’s authority to wage war in Iran. Missouri’s First congressional district will be a rematch between former Representative Cori Bush, a democratic socialist “squad” member, and Wesley Bell, a more moderate prosecutor who ousted Bush from her seat two years ago with heavy support from AIPAC. The pro-Israel lobbying group is once again spending millions to block Bush. THE LATEST NEWS Politics Todd Blanche Kenny Holston/The New York Times Todd Blanche confirmed in writing that the Justice Department would abandon elements of the deal it struck with Trump to resolve his I.R.S. lawsuit. Two Republican senators had threatened to block Blanche’s confirmation for attorney general otherwise. U.S. officials confirmed that the Treasury Department intervened last week to prop up the Japanese yen, which had been trading near four-decade lows. The Pentagon is relying on closed-door hearings to kick out transgender service members. Here's how they work. Around the World In Venezuela. Fabiola Ferrero for The New York Times More than a month after twin earthquakes, Venezuela’s coastal region of La Guaira — once a lively beachside escape — is completely disfigured. Record heat waves have given postal workers in France an additional role: checking in on older people. Two people died in Greece when helicopters collided while fighting wildfires. Morocco has been considered a North African success story. But the rush on the Spanish territory of Ceuta raises questions about the Moroccan economy. Other Big Stories The gunman who opened fire at an In-N-Out Burger in Twin Falls, Idaho, was slowed by returned fire from an off-duty state trooper and a private citizen, the authorities said. Residents of rural Florida say that a major marijuana producer with ties to Trump is polluting water and spreading smells. OPINIONS The New York Times Ezra Klein says “The Odyssey” is the political movie of the decade. He explains in the video above. Baseball should remain imperfect. Enough with the robot umpires, J.R. Moehringer writes. Daniela J. Lamas, a pulmonary and critical care physician, once delivered dire news to a patient only for the patient to improve. Doctors shouldn’t be afraid to tolerate uncertainty, she writes. Deeply reported journalism needs your support. The Times relies on subscribers to help fund our mission. Become a subscriber today. MORNING READS We’ve made these links free for you. Kerry Tasker for The New York Times Promise and peril: A unique tidal bore in Alaska can carry a surfer for six miles. It can also kill. Scheming bots: A.I. is being trained to copy almost everything people do. So it shouldn’t come as a surprise that the machines have started lying and cheating. Your pick: The most clicked link in The Morning yesterday was about a hike planned with Google Maps that took far longer than expected. Metropolitan Diary: A beautiful baritone. Horse whisperer: Monty Roberts rejected 4,200 years of conventional wisdom to embrace humane, nonviolent methods of training untamed horses. That won enthusiastic approval from Queen Elizabeth II, who became a friend. He died at 91. TODAY’S NUMBER OpenAI $70 — That is the price, not including tax and shipping, of an official ChatGPT tie-dyed basketball. Tech companies, once known for nerdy, low-key hoodies and sneakers, are getting fancy with their merch, often creating it in collaboration with hip brands and designers. Fashion critics aren’t impressed. SPORTS M.L.B.: The trade deadline is hours away and teams are making their moves. Yesterday, the Yankees acquired the Nationals infielder Luis García Jr., the Mets dealt the starter Freddy Peralta to the Rays and the Blue Jays sent the longtime starter Kevin Gausman to the Cubs. Soccer: Europe’s governing body for soccer has threatened legal action over FIFA’s failed private investment plan. RECIPE OF THE DAY Armando Rafael for The New York Times For a summertime update on a beloved Chinese dish, Hetty Lui McKinnon freshens up cold sesame noodles with crisp cucumbers, raw corn and aromatic basil. Her minimalist dressing brings together three flavor-dense condiments: chile crisp, sesame oil and sesame paste. No sesame paste? Tahini works, too. Toss with your favorite noodles. THE VOICE OF GOD As a U.S. secretary of state in “Lioness.” Lauren Smith/Paramount+ Morgan Freeman has voiced deities and presidents, and he is the go-to narrator for your favorite documentarian. At almost 90 years old, he still can’t understand the fuss over his voice. More on culture Here’s your recap of the latest episode of “House of the Dragon.” There still be dragons! “Awake Awake,” Fiona Mozley’s confident and unsettling third novel, suggests that childhood friendships may have a greater impact on our adult life than family relationships, our reviewer writes. THE MORNING RECOMMENDS The Bisti/De-Na-Zin Wilderness Area in New Mexico. Bob Wick/Planet Pix, via ZUMA Wire See natural wonders without the crowds of a national park. Our Travel desk’s picks include ice caves, rugged gorges and something called the Alien Egg Hatchery. Read one of these 22 new books that the editors on the Book Review are looking forward to this month. Spend some time with Seurat. “A Sunday on La Grande Jatte” is this week’s 10-minute challenge. Take our news quiz. GAMES Here is today’s Spelling Bee. Yesterday’s pangrams were channeled and dancehall. And here are today’s Mini Crossword, Wordle, Connections, Crossplay and Strands. Thanks for spending part of your morning with The Times. See you tomorrow. Sign up here to get this newsletter in your inbox. Reach our team at themorning@nytimes.com. Host: Sam Sifton Editor: Adam B. Kushner News Editor: Tom Wright-Piersanti Associate Editor: Lauren Jackson News Staff: Evan Gorelick, Brent Lewis, Lara McCoy, Karl Russell Saturday Writer: Melissa Kirsch Editorial Director, Newsletters: Jodi Rudoren

💰 Data du jour: Earnings bonanza Illustration: Sarah Grillo/Axios America's biggest companies are on a hot streak this earnings season: They're reporting double-digit profit growth in spite of high interest rates, higher energy prices and cautious consumer spending, the Financial Times reports ($). Stunning stat: S&P 500 companies are on track to report profits that are 47.4% higher than a year ago, according to FactSet. If that holds, it would mark the strongest quarter for corporate profit growth in five years — since the pandemic rebound. Nearly 90% of S&P 500 companies have reported profits that beat Wall Street's expectations.

🇻🇪 Venezuela oil logjam Illustration: Sarah Grillo/Axios. Stock: Getty Images Nearly eight months after President Trump predicted U.S. companies would "rapidly rebuild Venezuela's dilapidated oil industry" to boost production, no new petroleum deals have been finalized with American firms. The U.S. Department of Energy is largely to blame, a dozen oil industry professionals, senior U.S. officials and Venezuela insiders tell Axios' Marc Caputo. 📈 Why it matters: The price of oil is climbing as the Iran war squeezes global supplies, spotlighting the absence of finalized deals in Venezuela — a nation with the highest estimated petroleum reserves on the planet. "We have no new concessions. No new deals. It is absolutely a problem," a senior U.S. official told Axios. "The Energy Department is in charge of this and they have some explaining to do." The Energy Department and its defenders call the criticisms misleading and unfair. Between the lines: Trump's plan was complicated by two divides — one in his own government, the other in the oil industry. 🥊 Trump's administration is split between MAGA types and regulatory professionals: MAGA loyalists want Washington to heed Trump's Jan. 9 comments and force Venezuela's state-run oil company, called PDVSA, to quickly adopt common international industry contracting standards. The more cautious bureaucrats in the Energy Department, who have relatively little international oil-industry experience, advocated for a slower process, working more collaboratively with Caracas. 🛢️ The oil industry is split between major global firms that move relatively slowly and deliberatively, and smaller independent firms — nicknamed "wildcatters" — known for their speed and higher risk tolerance. The "majors," like Exxon and ConocoPhillips, publicly made clear they were cool to the idea of going back to Venezuela because of all the uncertainty. But several wildcatters were eager to get in. Keep reading.

Headless Dems Illustration: Sarah Grillo/Axios. Stock: Getty Images A special look for AM readers at Axios CEO Jim VandeHei's political briefing, published first in his weekly Axios C-Suite newsletter: You're probably 582 days from Democrats having a true leader who can show and shape the party's direction. Why it matters: Until Super Tuesday — that's March 7, 2028 — or well beyond, Democrats will be leaderless, and likely split between rising socialist energy and more traditional, establishment liberalism. 🔎 Zoom in: DNC Chair Ken Martin will likely get ousted and leave behind a hot financial mess and cashless dumpster fire, top Dems tell us. House Democratic Leader Hakeem Jeffries (N.Y.) has a legit shot at rising to speaker. But he'd likely lack a big enough majority, as well as the instincts and ambition, to lead beyond the House. The future of Senate Minority Leader Chuck Schumer (N.Y.) is fragile. If he doesn't win the majority, he'll likely be challenged for the top job. Then, he'll be preoccupied with AOC running for his Senate seat and ending his career. Even if she goes for the White House instead, his future at home and as party leader is in doubt. Barack Obama is the only Dem with true national sway — and he's made plain he wants to work things mostly behind the scenes (although he's headlining a redistricting fundraiser on Martha's Vineyard on Aug. 31). 👑 That leaves Bernie Sanders as the most powerful kingmaker for '28 given his network and sustained popularity. Advantage: AOC.

Winning the future Illustration: Sarah Grillo/Axios. Stock: Getty Images America has been napping or distracted by trivialities while China is racing toward the future, in part by taking advantage of President Trump's trade, immigration and budget policies. That's the eye-opening reality that Evan Osnos unfurls in a 12-page piece for The New Yorker, "The Future, Made in China." Why it matters: China could beat the U.S. to the future on a host of fronts, including engineering a cure for cancer. 🇨🇳 "For China, America's retreat comes just as decades of state investment, industrial policy, and diplomatic planning are paying off," Osnos writes. An American executive told him: "People in Washington are worried that biotech is the next E.V.s ... We've scared all of this f*cking talent back to China. If you look at the guys who are doing this, they used to work for Western pharma giants, or they were running a top university department somewhere." In a flex, China now welcomes Western influencers, investors and commentators on "tech tours" that yield "infrastructure porn" and "Chinamaxxing." 🛂 Being there: Osnos, who lived in Beijing for eight years as a foreign correspondent, returned for 10 days as part of four months of reporting. He says the capital is noticeably quieter than when he left in 2013 — "an awkward serenity to life in the capital of a high-tech, one-party state." "The vehicles, many of which are electric now, move silently through the streets, and in any case the residents have fewer reasons to go out; China has the world's busiest e-commerce market, and there isn't much that can't be delivered on the back of a scooter," he writes. "All day long, people scan each other's QR codes to swap cash on such digital-payment systems as WeChat and Alipay, feeding the algorithms an ever more intricate portrait of their movements and preferences." 👁️ The surveillance future is here: Osnos felt constantly watched — because he was, including psychologically. At an AI expo in Beijing, Osnos stood in front of a kiosk that took an emotional X-ray by measuring "micro-gestures" in his face. The results: He possesses 76.67% positive emotion and 23.33% negative emotion, split between fear and rage. The state can use such readings to zero in on potential disruptors. The same manufacturer makes a scan for schools that assigns pupils an alert level of red, yellow or blue. By the numbers: China produces 70% of the world's drones, electric vehicles, lithium-ion batteries and solar cells, the magazine says, and "deploys more industrial robots than the rest of the world combined, and, in medicine, it has surpassed the United States in the number of registered clinical trials." China's shipbuilding capacity is 200 times that of the U.S. 💡 Between the lines: China's rulers avoid "overtly antagonizing America, because they believe that, even in decline, it remains uniquely dangerous." But Rush Doshi, China specialist at Georgetown and CFR, says that if the U.S. loses the next wave of industries — AI, biotech and robotics — as it lost on solar panels, batteries and electric vehicles, "it would irreversibly change the balance of power." A think tank at Renmin University of China, in Beijing, published a report called "Thank Trump," which argues that his tariffs, attacks on allies and immigration policies have hastened the "twilight of an empire." The bottom line: A European diplomat who has attended meetings with Xi Jinping and his advisers told Osnos they're "feeling like the champions of the world." Keep reading.

THIS DAY IN HISTORY August 3 1958 Nautilus submarine travels under North Pole The U.S. nuclear submarine Nautilus accomplishes the first undersea voyage to the geographic North Pole read more Sponsored Content by REVCONTENT 1970s 1975 Boeing 707 crashes into a mountain near Agadir, Morocco Arts & Entertainment 1996 “The Macarena” begins its reign atop the U.S. pop charts 1977 “The Spy Who Loved Me” released in U.S. theaters 2008 Multimillion-dollar baby photos published Cold War 1948 Chambers accuses Hiss of being a communist spy Crime 1982 Sodomy arrest sparks controversy European History 1916 Sir Roger Casement hanged Exploration 1492 Columbus sets sail from Spain Sports 1949 NBA is born 1984 Gymnast Mary Lou Retton scores two perfect '10s' to win Olympic All-Around Gold U.S. Government and Politics 1795 Treaty of Greenville signed, ending the Northwest Indian War U.S. Presidents 1923 Calvin Coolidge takes oath of office after Warren G. Harding’s death World War I 1914 Germany declares war on France

A bolt of lightning can reach 53,540 degrees Fahrenheit. That’s 5 times hotter than the surface of the sun, which is 10,340 degrees Fahrenheit. James

GOP holdouts say they will back Blanche’s attorney general nomination after striking deal over fund WASHINGTON (AP) — Two Republican senators who threatened to block acting Attorney General Todd Blanche’s confirmation to lead the Justice Department said Monday that they will support his nomination, ending an impasse over plans to create a fund to compensate allies of President Donald Trump. https://apnews.com/article/senate-blanche-trump-justice-fund-a38decfc7f20e4f73a181914d53111da?

Abdul El-Sayed on The Intercept Briefing On Tuesday, Abdul El-Sayed and Rep. Haley Stevens, D-Mich., will face off in the Michigan Democratic Senate primary. The race is the next biggest test of whether progressives can win statewide, particularly in purple territory. https://theintercept.com/2026/07/31/democrats-michigan-el-sayed-stevens-left-moderate/? Corporations, Not Immigrants, Are Responsible for Vast Majority of Healthcare Fraud, OIG Report Shows For more than a year, the Trump administration has sought to blame immigrants for widespread health care fraud. Immigrant communities, the Trump administration’s bunk theory goes, are draining resources and raising costs by defrauding the federal government. https://theintercept.com/2026/07/31/immigrants-healthcare-medicare-fraud-scam/? Free Speech Crackdown: Germany Deports Bob Vylan Frontman for Anti-Israel Chants The frontman of British punk rap band Bob Vylan was denied entry to Germany, detained at the Berlin airport, and ultimately deported to the United Kingdom last month due to his pro-Palestine statements. https://theintercept.com/2026/07/30/bob-vylan-germany-deport-palestine-israel/? Cori Bush Has No Regrets The internet had a field day last summer when a picture surfaced of Sen. Josh Hawley, R-Mo., with his arm around a former Democratic member of Congress. https://theintercept.com/2026/08/01/missouri-cori-bush-wesley-bell-primary-aipac/? Trump’s Truth Social API Is a Blatantly Corrupt Favor to Wall Street For the low, low price of $100,000 a month, the ever-oxymoronic Truth Social is now selling direct access to its most important posts — or, in the firm’s preferred parlance, “truths” — to Wall Street. That’s an expedited lane to access statements and data from the president of the United States and other government officials, which have significant potential to move financial markets, ahead of us suckers in the general public. https://theintercept.com/2026/08/01/truth-social-api-trump-wall-street/?

Normally, in the Bible, Jesus, as well as the disciples, simply cast the demon out. If we find an exception to the norm, it is wise to ask "Why the exception?" instead of turning to the exception and see how we can make this the rule. If I recall correctly, there are two exceptions to the norm. The boy with the seizures and the one or two men where the pigs ran into the sea. Fundamentalists may not be happy with my comments here, but please take for your consideration. With the boy having the seizures; Jesus says that this kind does not come out except for fasting and prayer. While I am not an expert in language, from what I've read and heard in lectures from those who understand the language, the idea of fasting and prayer can be understood as say a doctor or scientist who is prayerfully studying and experimenting and so focused on their research that they often forget to eat and sleep. So could this boy simply have had a physical condition that gave seizures, and while Jesus could do the physical healing, that he was telling his disciples that this is not simply demons, but something that they really need to study to discover the cause and develop a cure? The second exception is the one or two men where the pigs ran into the sea. Ok, I confess that their breaking the chains is something that may indicate traditional demons. However, a couple of things to keep in mind, with another suggestion if you bear with me. This man/These men were pagans. He/They were gentiles. They lived in a Greek City State set up from the conquests of Greece to show people in the rest of the world how wonderful Greek life is to encourage the people living in the area to not only be Greek subjects by conquest, but to change their lives and embrace Greece life and thought in total. (The idea of a city set on a hill, but instead of a Christian faith, these cities were to draw everyone to Greece.) There were 10 of these cities just east of the Jordan in the hills. It would have been to one of these 10 cities that would have been the "far country" for the Prodigal Son went. This man/These men would have known little of the Jews who lived in small Jewish communities across the lake. So first of all, Jesus needed to work with the man/men, and their pagan/gentile/Greek background. This man/These men living in the Greek City State probably were raised from childhood in how special it was to be Greek and how they were to be examples for all the non-Greeks living around them of how wonderful Greek life and thought are. Yet, for some reason, this missionary mindset made them uncomfortable. Also, may I also wonder if he/they may have also suffered from what we call mental illness. Jesus did what he did to work with these people who were ignorant of the Bible and ignorant of Judaism. Even if they had traditional demons Jesus still needed to work with how this man/these men are. And if it is just the suffering in them suppose to be showing how wonderful Greek life is, and they just are uncomfortable with this idea, and/or mental illness; Jesus can heal the mind, but they might from time to time start thinking things that could lead back to problems. Seeing the pigs run into the sea and drown is always a reminder that if they start thinking the wrong way that they remember the pigs and they choose against the bad thought they were about to think. Jesus also needed to learn where these men were coming from, remembering they were getting views about the demonic not from the Bible and/or Judaism, but from a pagan background. Jesus could not make the same assumptions about the cause of this/these men's sufferings as he could in the Jewish communities. Jesus needed to do what was appropriate for their pagan/Greek background. And this personal care was important as this/these people born and raised to be missionaries of Greek life and thought, ended up becoming the first Christian missionaries to the gentiles.

Israel says it has serious concerns with Hamas disarmament deal Israel has shared “serious security concerns” with the White House regarding the proposed disarmament deal with Hamas, an Israeli official said as Israeli strikes overnight and into Sunday evening killed at least 17 people, including children, in Gaza. Read More.