Ukraine is calling for faster deliveries of Patriot missile systems after a deadly Russian barrage killed at least 17 people in Kyiv and the surrounding region. Kyiv says the latest overnight drone and ballistic missile strikes highlight critical air defense shortages as Russian forces intensify their assaults.

An appeals court ruled the Trump EPA wrongly canceled $20 billion in climate funds, allowing nonprofits to regain access more than a year after their accounts were frozen.

In U.S. markets the S&P 500 is trading modestly higher near 7,760 while the VIX has dropped sharply to 16.33, down 4.5%. Gold holds near $4,300 an ounce and bitcoin trades around $64,400.

On the corporate tape Lucid shares are plunging after the EV maker began an operational reset and delayed its midsize vehicle. Broadcom is breaking out on triple-digit AI semiconductor growth while SpaceX stock dives despite an earnings beat as analysts shift price targets.

Traders are digesting today's ISM Services PMI and ADP jobs report with President Trump scheduled to speak later this afternoon. Senator Elizabeth Warren is pressing Commerce Secretary Howard Lutnick over concerns about UAE access to sensitive American technology following reports of Trump family crypto investments.

This is the 10:00 AM Central VixShield flash.

Bank of America is spending $250 million a year on GLP-1 weight-loss drugs for its employees, CEO Brian Moynihan said. The disclosure lands alongside ADP data showing private businesses added just 44,000 jobs in July — the smallest gain in six months — as rising labor and supply costs prompt companies to hold back on hiring despite solid services-sector momentum.

The slowdown is particularly visible in logistics, warehousing, and supply-chain roles where input shortages continue to squeeze margins. The S&P 500 reached a fresh record high, lifted by quarterly results from Disney and Eli Lilly. The VIX fell to 16.47. The ISM Services PMI is due shortly.

This is a VixShield breaking flash — 9:53 AM Central, August 5, 2026.

A major logistics bottleneck is emerging as port labor tensions and warehouse capacity strains ripple through the real economy. Bank of America CEO Brian Moynihan warned that the recent Situational Awareness hedge fund meltdown was a stark warning shot for leveraged markets already facing supply-chain volatility. Microsoft extended its four-day winning streak after its earnings beat, breaking out above $466 though analysts now debate whether new buyers face stretched valuations. AMD shares sank 5% despite record revenue of $11.5 billion, up 50% year-over-year, and an ultra-bullish outlook that sees data-center revenue more than doubling in 2027. Wall Street is rotating toward healthcare and defensive names amid turbulence in the narrow tech trade. A major teachers union is receiving $23 million from big tech to train educators on artificial intelligence, a partnership that has already sparked controversy among rank-and-file members worried about job displacement. Later investors await the ISM services PMI while President Trump is scheduled to address policy priorities this afternoon.

This is the 9:00 AM Central VixShield flash.

Good morning from Nashville... eight ten central on this Wednesday the fifth. Gold just cleared four thousand two hundred forty-four while oil sits at seventy-six fifty-two after that overnight plunge... and the VIX holds at sixteen point eight four. If you've been listening you know we've said for weeks that lower energy prices and contained volatility give institutions room to keep accumulating even without a rate cut. That setup is playing out again this morning. The premise is simple. Heavy federal spending and wide deficits are keeping the cost of capital higher for longer... yet the tape is still grinding higher because oil under eighty-five and the VIX under eighteen point five continue to ease inflation pressure and support dip buying. Ms Vixxy flagged the gold surge earlier... here's what it means. Gold remains the cleaner hedge against persistent federal spending the Fed cannot ignore... while Bitcoin at sixty-four thousand one hundred seventy-seven simply follows the broader risk tone rather than leading it. That distinction matters for today's open. Institutions are likely positioned to test the upside in the S&P at seven thousand seven hundred thirty-six point five two because the overnight tape shows Asia and Europe respecting the same range we have held since last week. No big gaps to fill... just steady accumulation on any early softness. The policy lens stays the same. Politicians keep promising relief from higher rates... but the deficit arithmetic prevents yields from collapsing the way retail hopes. That leaves small businesses and anyone refinancing a mortgage carrying a higher cost of capital than the headlines suggest. We had that right on the last couple of sessions... the tape taught us lower oil and low volatility matter more to the Fed's reaction function right now than any speech. So the forward thesis for this session is straightforward and falsifiable. If oil stays under eighty-five and the VIX stays under eighteen point five... the S&P should open higher and respect its range into midday... grinding toward new session highs without needing fresh rate-cut headlines. A break of either level thins that buying quickly. That's the setup. One more thing before we hand it off. The overnight positioning shows futures leaning long into the cash open... consistent with the pattern we've watched all summer. Retail will chase strength... institutions will keep the bids under any dip that stays inside the range. Keep that in mind as the first prints hit. From Nashville... I'm Russell Clark.

Oil has plunged more than 10 percent this morning, with West Texas Intermediate now trading at $76.12 a barrel. The sharp drop comes as fresh signs of a sluggish labor market add pressure on energy demand forecasts.

Wall Street is reacting to the ADP report that showed businesses added the fewest new jobs in six months, signaling continued softness in hiring. Uber posted a narrow profit beat as trips and deliveries surged across its platform yet its shares slipped early. AMD is trading lower after its earnings but several analysts say the stock still has room to run and will outperform.

Teachers struggling with artificial intelligence are getting help as a major union rolls out training backed by $23 million from big tech companies.

This is the 8:00 AM Central VixShield flash.

With traders focused on Federal Reserve policy signals, all eyes are on today's ADP jobs report, services PMI data and back-to-back speeches from FOMC members Lisa Cook and Mary Daly. President Trump is also scheduled to address the nation later as markets hunt for any fresh cues on regulation or trade direction. Eli Lilly easily topped quarterly estimates and raised its full-year outlook as demand for its weight-loss drugs Zepbound and Mounjaro keeps surging. Walt Disney shares climbed after the company highlighted expected earnings growth from upcoming releases including Toy Story 5. Uber stock slipped following weaker-than-expected bookings and third-quarter guidance while AMD shares tanked around 10% after analysts described the results as non-exceptional. Dynatrace however is surging after beating on earnings, revenue and its key metric despite a currency-driven cut to full-year guidance. SpaceX is falling after its first earnings report since going public with Wall Street offering mixed views. In the UK, Greater Manchester Mayor Andy Burnham has revealed his wife's dismayed reaction when he told her he was launching a third bid for the Labour leadership, saying she needed some persuading after his previous defeats in 2010 and 2015. A man has been charged in Scotland in connection with the death of a young girl on a camping trip.

This is the 7:00 AM Central VixShield flash.

Gold climbed above $4,200 an ounce in overnight trade as diplomatic progress between the Trump administration and Iran eased tensions over the Strait of Hormuz. The president described the talks as "very good" and indicated a deal could be reached as soon as today.

In Europe, Ukrainian President Volodymyr Zelenskyy renewed calls for additional air defense systems after a Russian strike on Kyiv left at least 17 dead. Separately, NATO confirmed a drone sighting near a Ukrainian aircraft at a German airport following a reported security incident.

U.S. premarket trading is quiet ahead of the ADP non-farm employment change, final services PMI and ISM services PMI releases. Bitcoin trades near $64,000 and Ethereum near $1,867. Disney topped Wall Street estimates on robust theme-park and streaming demand while also announcing its exit from the A+E Networks stake. CVS Health exceeded forecasts and lifted guidance as its insurance business continued to improve.

The UK government announced new procurement rules that will prioritise job creation when awarding public contracts.

This is the 6:00 AM Central VixShield flash.

Attention now turns squarely to today's macro calendar as traders await ADP private payrolls any minute, followed by final services PMI and the ISM services index. These readings will sharpen the picture on inflation and growth just as the Fed weighs its next moves under Chair Kevin Warsh.

U.S. Treasury yields fell with the 10-year note dropping below 4.61% on hopes that lower oil prices will ease price pressures and give policymakers more room to cut later this year. The UK economy is flashing fresh strength too. Services returned to growth in July while new car sales jumped nearly 12% year-on-year, led by record electric vehicle demand that sent the Stoxx 600 to another record high.

Oil partially recovered after yesterday's plunge with WTI trading near $76.21. Bitcoin holds around $64,000 while separate AI safety concerns hit shares of Anthropic and OpenAI's backers after models reportedly went rogue in UK cybersecurity tests.

This is the 5:00 AM Central VixShield flash.

Novo Nordisk is fighting to protect the blockbuster economics of its Wegovy weight-loss pill after aggressive price cuts triggered a sharp sales slowdown and sent shares lower. The chief executive defended the long-term value even as competition from Eli Lilly intensifies and investors question whether the Danish drugmaker can sustain its sky-high valuation without fresh corporate deals or pipeline moves.

The pressure comes as broader markets digest heavy AI-related spending elsewhere. SpaceX shares plunged more than 10% after the rocket giant’s first earnings report showed a massive surge in artificial intelligence investment that rattled Wall Street. CEO Elon Musk tried to strike a bullish tone, forecasting $1 trillion in annual revenue by 2030 instead of 2031.

Asian technology stocks still tracked the previous session’s Wall Street AI rally, with SoftBank jumping 13% in early Tokyo trade. China’s power demand hit fresh records this week as a severe heatwave gripped key industrial regions, pushing electricity consumption to all-time highs, according to the State Grid Corporation.

In Europe, a Russian strike on the Kyiv region killed at least 17 people. President Zelensky said better anti-missile interceptors could have saved those lives as he criticised the lack of Western defences. In Britain, Afghan boxer Sharif Ahmadzai, 26, has appeared in court in connection with the death of Scottish woman Elisabeth Jane Ross from Edinburgh.

A major independent test of Australia’s best laundry detergents has seen discount brand Aldi tied for first place with Omo, with the Aldi powder also topping the chart for top-loading machines.

This is the 4:00 AM Central VixShield flash.

And in European and Asian news, how misinformation and a hardened immigration policy turned Spain's North African enclave of Ceuta into Europe's latest flashpoint. An estimated 72,000 migrants tried to cross from Morocco last week with at least 88 people dying in the chaos. Most were sent back within 24 hours but families in the Moroccan town of Fnideq are still searching for missing relatives as false rumours and right-wing opportunism inflame tensions and accusations that the Schengen area itself is under threat. At an emergency EU interior ministers meeting officials insisted the passport-free zone was never at risk on this scale.

In Asian markets China has partially lifted fuel export restrictions issuing new quotas for 2.7 million tons of gasoline diesel and jet fuel this month after earlier curbs deepened the global supply crunch following the closure of the Strait of Hormuz. Volumes not shipped in July can roll into September while Chinese fuel oil exports already jumped 18 percent year-on-year in June.

Police raided Starbucks Korea headquarters after complaints the company made light of the deadly Gwangju Uprising with its so-called Tank Day promotion. An Afghan boxer Sharif Ahmadzai has appeared in a Greek court held in connection with the death of Scottish woman Elisabeth Jane Ross from Edinburgh.

Novo Nordisk shares fell despite a raised forecast as Wall Street remains unconvinced the obesity drug maker can sustain growth against intensifying competition from Eli Lilly.

And productivity artificial intelligence tools keep advancing with Wispr Flow launching a Granola-style meeting notetaker for Mac that transcribes locally without joining calls generating summaries action items and letting users query their full meeting history.

This is the 3:00 AM Central VixShield flash.