Trump makes stock market his scoreboard

Plus, at least eleven killed in one of Spain's deadliest wildfires.

Go beyond the headlines with Reuters on the stories shaping the day. Subscribe for $1/week. Daily Briefing Daily Briefing By Kate Turton Hello. At least eleven people have died and 19 are missing in one of Spain's deadliest wildfires, Iran says it hit US military targets in the Gulf, and Trump makes the stock market his scoreboard, but many Americans aren't even in the game. Plus, we look inside the US race for drone delivery dominance. Today's Top News   An emergency worker looks on during a wildfire in Almeria, Spain, in this screengrab taken from a handout video. @Plan_INFOCA via X/Handout via REUTERS At least 11 people died attempting to flee a wildfire in southern Spain, and 19 were missing, with firefighters still battling to bring one ‌of the country's deadliest blazes on record under control. After NATO leaders gathered a fractious summit in Ankara, their host, Turkish President Recep Tayyip Erdogan, handed each an unusual parting gift: ‌a vintage revolver, along with live ammunition, indicating it was not just for show. Andy Burnham is on the brink of becoming Britain's next prime minister after an overwhelming show of support from Labour lawmakers left him ‌all but certain to replace Keir Starmer. Iranian armed forces launched attacks on US military infrastructure in Gulf states following US strikes on Iran's southern coastal and eastern provinces, further eroding a ‌three-week-old ceasefire. A large and powerful typhoon approached a remote chain of islands in Japan's southwest, prompting authorities to warn of violent winds, torrential rain, landslides and flooding in what could be the region's most destructive storm in years. Ousted Bangladeshi Prime Minister Sheikh Hasina, facing a death sentence back home where her party is banned, told Reuters she and senior party colleagues plan to return from exile in India around December and surrender. China's submarine-fired ballistic missile test into the southern Pacific on Monday gave its military leadership an opportunity to examine some of the most complex and sensitive operations of its evolving nuclear deterrent, analysts and diplomats say. FIFA's handling of two World Cup red-card cases came under renewed scrutiny after England defender Jarell Quansah got a two-match suspension while US striker Folarin Balogun avoided an immediate ban for a similar challenge.That has left former international referees unable to reconcile the two decisions. Business & Markets   US President Donald Trump has increasingly cast Wall Street's gains as a measure of his presidency, treating record stock prices as proof that his policies are working even as many Americans remain squeezed by high living costs and millions own no stock at all. The EU charged Meta's Instagram and Facebook with breaching its tech rules, with regulators targeting features they say are designed to keep users hooked and demanding changes to autoplay ‌and infinite scroll or risk fines. Reuters exclusively reveals Meta is going into production on its own AI chip in September — part of a $145 billion AI bet. Reporter Katie Paul explains why breaking free from Nvidia could be the key to Meta taking on OpenAI and Anthropic. Listen now. Rare earths startup ReElement Technologies has stopped seeking an $80 million Pentagon loan that was part of a broader push by the Trump administration to jump-start domestic production of critical minerals to challenge China's dominance of the sector, two administration officials told Reuters. Could SK Hynix's blockbuster Nasdaq listing trigger a wave of Asian chipmakers listing their ADRs in the US? We explore what it means for the AI trade on the Reuters Morning Bid podcast. The Week Ahead Erica Schwartz, Trump's nominee to lead the US CDC, will appear before the Senate Committee on Health, Education, Labor and Pensions. A packed week of US economic data could give investors their clearest read yet on whether inflation is cooling. The spotlight falls on June consumer price inflation, followed by producer prices a day later.  The world's largest manufacturer of advanced AI chips, Taiwan's TSMC, will report second-quarter earnings. Here's all you need to know about the coming week in financial markets. Inside the US race for drone delivery dominance   A drone used for Walmart deliveries in Ellenwood, Georgia, United States in this screengrab from video. REUTERS/Jayla Whitfield-Anderson Engineer Beth Flippo uprooted her family in 2021, trading New Jersey for the rambling fields of Ohio to run a pilot program delivering groceries via drone for Kroger. It lasted just eight months before both parties agreed to suspend it. "We couldn't make any money," said Flippo, head of drone company Dexa. Success would have meant placing workers around town to watch the drones, as US federal rules prohibited ‌flying them outside human sight. Such hurdles may soon be a thing of the past. Spurred by an executive order by Trump's administration in June 2025, the Federal Aviation Administration has proposed new rules to speed the deployment of drones. Read more And Finally... Designer Elie Saab. REUTERS/Sarah Meyssonnie Designers sent sculptural silhouettes, shimmering gowns and intricate embroidery down the runways at Paris haute couture shows this week, with collections featuring dramatic pleats, feathered embellishments and nature-inspired motifs. View gallery   Sponsors are not involved in the creation of newsletters or other Reuters news content. Advertise in this newsletter or on Reuters' website   Reuters Daily Briefing is sent 5 days a week. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. Want to stop receiving this email? Unsubscribe here. To manage which newsletters you're signed up for, click here. This email includes limited tracking for Reuters to understand whether you’ve engaged with its contents. For more information on how we process your personal information and your rights, please see our Privacy Statement. Terms & Conditions   © 2026 Thomson Reuters. All rights reserved. 3 Times Square, New York, NY 10036

Putin likely to escalate Ukraine war

Plus, Trump has few good options in Iran.

Go beyond the headlines with Reuters on the stories shaping the day. Subscribe for $1/week. Daily Briefing Daily Briefing By Kate Turton Hello. The US military carries out fresh strikes on Iran, continuing a war that could lead to a global food crisis. Elsewhere, Putin is likely to escalate the Ukraine war and NATO weathers another Trump storm but braces for more. Plus, ancient quasars add to a "major unsolved problem" in astrophysics. Today's Top News   Smoke rises at an unknown location following what US Central Command says is a new wave of strikes against Iran. US Central Command/Handout via REUTER Iran War The US military said it launched fresh strikes on Iran to keep the Strait of ‌Hormuz open to shipping, triggering Iranian attacks on Kuwait and Bahrain in the latest escalation to derail efforts to end the war. Our live page has all the latest. Foreign Policy Editor Don Durfee tells the Reuters World News podcast why Iran keeps provoking in the Strait of Hormuz and what Washington's strikes are — and aren't — aimed at. Trump has few good options to extricate himself from the unpopular war. In other news A NATO summit that began with Trump ordering a cutoff in trade with one member, Spain, and rebuking others was widely hailed as a success after he re-committed to the alliance. But European leaders are bracing for more turbulence ahead. Here is a look at his options to halt trade with Spain and the possible implications. President Vladimir Putin is rejecting calls to negotiate peace with Kyiv, three sources close to the Kremlin told Reuters, with Ukraine's recent drone strikes on Russia's oil refineries and ports strengthening his resolve to keep fighting for now. The US will grant Ukraine a license to manufacture Patriot missile interceptors, a huge boost for Kyiv, which has long sought permission to produce the defensive weapons. Democratic Senate candidate Graham Platner of Maine promised to formally withdraw from the race, after a string of controversies including ‌an accusation of sexual assault plunged one of the most competitive races in the 2026 midterm elections into turmoil. China and Taiwan were bracing for possibly the most destructive tropical storm in years as Typhoon Bavi churned southeast of Taiwan, with winds near 124 mph, and as parts of China were still reeling from Typhoon Maysak. Bonnie Tyler, the gravelly-voiced singer of dramatic rock ballads like "Total Eclipse of the Heart" and "Holding Out for a Hero" has died at 75. Business & Markets   Staff works on Id. Buzz production line at Volkswagen Commercial Vehicles in Hanover, Germany. REUTERS/Fabian Bimmer/File Photo Volkswagen's proposal to cut up to 100,000 jobs and close four German factories faces a major test as the groups that control Europe's largest carmaker ‌meet to discuss the plans, while workers protest against the overhaul. A ban on EU funding for Chinese-made inverters — a critical clean energy ‌component — could slow or even halt the rollout of solar and wind projects in poorer European countries that rely on public money, companies and investors warned. Russia hopes by mid-July to have a commercial logistics hub up and running in one of two berths at the naval base it leases in the Syrian port of Tartous, while keeping a military presence at the other, Syrian officials told Reuters. Australia and India reached a deal to export Australian uranium to India for use in the nuclear energy industry, ‌while agreeing to deepen cooperation in renewables, critical minerals and green hydrogen. Comcast, the empire led by Brian Roberts, will split into a cable and a media company. On this week’s Viewsroom podcast, Breakingviews columnists play out the deals that could follow, and why any buyer could just inherit the same doom loop. The Iran war sends fertilizer and food costs soaring. The threat has not gone away   Modern farming depends on cheap fertilizer. The war with Iran has made fertilizer more expensive, with ships trapped, fertilizer plants shut down, farmers panicking and world food production thrown into peril The war cut off 17% of the world’s natural gas supply and more than 30% of world nitrogen fertilizer supply. Almost half of the world’s exported sulfur, a critical component for another type of fertilizer, was trapped in the Middle East Gulf. The disruption to the Strait of Hormuz means it will be months or years before some natural gas and fertilizer production returns to a pre-war normal.   ⁠ Read more And Finally... A quasar emits exceptional amounts of energy, as seen in this illustration. NASA, ESA, Joseph Olmsted (STScI)/Handout via REUTERS A quasar — among the universe's most luminous and energetic objects — is a supermassive black hole caught in the act of guzzling matter at the heart of a galaxy. Scientists have now found quasars dating to so early in cosmic history that they are baffled as to how they already existed ‌at that primordial time. Read more   Sponsors are not involved in the creation of newsletters or other Reuters news content. Advertise in this newsletter or on Reuters' website   Reuters Daily Briefing is sent 5 days a week. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. Want to stop receiving this email? Unsubscribe here. To manage which newsletters you're signed up for, click here. This email includes limited tracking for Reuters to understand whether you’ve engaged with its contents. For more information on how we process your personal information and your rights, please see our Privacy Statement. Terms & Conditions   © 2026 Thomson Reuters. All rights reserved. 3 Times Square, New York, NY 10036