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Trump: I remain amazed at the vigor and vitality of President Trump. Amazing how quickly the media has forgotten the former president.
Belfer Center (Harvard) raising threat of AI and the new age of bioweapons (think China, Covid). Now we have American governors and even the US politicos at the delaying the US AI sector. China doing a good job influencing Americans to stop / delay AI/LDC development. RFK, Jr., doing even a better job at stopping vaccine development that would be useful in biowarfare.
My least favorite commercial: Tom Lehman on Yrefy.
Speaking of Tom Lehman, who did not join the LIV, there were early stories on the changes of LIV this year and whether golfers like Bryson DeChambeau will return to the PGA and/or whether the PGA will welcome them back (not likely). From chatbot: that is correct. Tom Lehman did not join LIV Golf. Instead, he has been vocal in criticizing LIV and strongly opposed allowing defectors an easy path back to the PGA Tour, stating that returning players should start over from the bottom. For what it's worth, I agree completely.
Bessent's move on rates yesterday began with Yellen years ago.
Treasury Secretary Scott Bessent is utilizing a debt-management strategy of heavy short-term T-bill issuance and long-term debt buybacks to suppress bond yields, mirroring a playbook previously used by former Treasury Secretary Janet Yellen.
Despite previously criticizing this approach, Bessent has adopted these methods to curb long-term yields, placing pressure on the Federal Reserve. Read full story at CNBC. Steve Liesman trying to downplay Yellen's role in all of this. I was impressed that Gemini was able to find this story based on limited information from. Link here. According to CNBC, "debt-management strategy" was a phrase coined by Douglas H Keare and William L Silber (in 1965) (at the link). Bessent criticized Yellen's actions at the time. This is an AI-generated report and there may be confirmation required.
Samsung: up almost 10% after initiates huge cash return to shareholders.
Device-free push? Anyone who thinks "device-free" push could have unintended consequences is at the far end of the "crazy" continuum. Link here. Texas middle schools in our area are taking "measured" and sensible approach.
Major heat warnings today: we'll be up to 105°F later today. Link here for more on Fahrenheit temps and how we got here.
WTI: up $2.28; up 2.7%; trading at $86.67. Large integrated oil companies up today but not as much as expected based on what is being reported out of the Mideast; out of the White House; etc. Will we see WTI at $90 by end of next week. Looking for $87 today. Is Oilprice behind or CNBC wrong -- CNBC showing WTI having crossed the $88 mark. CNBC now showing WTI at $88.40. Integrated oils will be up at least 1% today.
CNBC: early morning -- Becky Quick not on. Replacement looks like she got unexpected early morning call to fill in for Becky.
DFW update:
The Dallas Fort Worth International Airport Board approved construction projects on Terminals A, C, D, E and F and road work near the Rental Car Center during the Aug. 6 meeting. The projects are part of the DFW Forward capital plan.
The $66.8 million has a five-year term and is set to start in October.
AI: lots of talk around OpenAI and Anthropic right now on CNBC. Anthropic looking better than OpenAI right now. Anthropic really focused, but long term OpenAI might offer customers / clients more opportunities. Conversation switches to the issue of "safety." Expert suggests confusion on this subject. "Researchers are generally freaking out what they're seeing. They can't control these machines."
Harry and Meagan moving back to England. My hunch: Hollywood will say "good riddance."
