U.S. lawmakers are pressing DoorDash for answers over its reported use of Chinese artificial intelligence models in a widening national security probe that now reaches America's largest food delivery platform. The request marks the latest move by a joint House committee investigating potential risks from Beijing-linked AI systems in critical U.S. infrastructure.

Exxon and Chevron are posting sharply higher earnings this morning after the Iran conflict drove oil prices higher and boosted refining margins. The two supermajors are diverging, however, with Chevron shares under pressure while Exxon holds firmer.

In U.S. markets, the S&P 500 is trading near 7,449 after a mixed open. The VIX has dropped to 17.53, down more than 6%, signaling easing fear in protection markets.

Private-sector wage gains pushed U.S. labor costs higher in the second quarter, according to fresh data. Two Federal Reserve officials are dissenting, saying rates need to stay higher for longer to stamp out inflation that has remained stubbornly above target.

Ahead of tomorrow's jobs report, revised consumer sentiment and inflation expectations are due any minute from the University of Michigan.

On a lighter note, the Federal Reserve Board is seeking public comment on modernizing its rules governing credit to bank insiders.

This is the 10:00 AM Central VixShield flash.

Nebraska families are feeling the squeeze as the first wave of Americans begins losing Medicaid coverage under new work requirements. State officials confirm roughly 200 people will lose health coverage on Aug. 1, with hundreds of households already dropped for failing to meet employment thresholds. The policy is tying benefits to verified work or job training, creating fresh pressure on local labor markets, family logistics and housing stability across the Midwest.

General Motors says it will roll out its own in-vehicle artificial intelligence system later this year, aiming to reduce reliance on outside tech partners. Tech's massive AI buildout is driving ballooning costs, with memory chip prices soaring and cash reserves dwindling at data centers nationwide.

Fed dissenters explained their votes to keep interest rates higher, citing persistent wage pressures in the real economy. Momentum stocks posted one of their strongest single-day gains in history following what traders are calling the Leopold liquidation.

Revised University of Michigan consumer sentiment and inflation expectations are due within the hour, the final major data points before tomorrow's non-farm payrolls report.

The daughter of a British couple killed in a Spanish wildfire has rejected claims they ignored evacuation orders, calling on Ed Miliband to help secure answers over why the warning came too late.

This is the 9:00 AM Central VixShield flash.

Good morning from Nashville, it's eight ten central on Friday, July thirty-first, twenty twenty-six. Picture this: Asian markets closed mixed overnight while European shares edged higher on hopes for contained energy prices, yet gold just keeps punching new highs above four thousand ninety-six. That sets the table for what could be a watchful open here in the States. If you've been listening, we said institutions would keep buying equity dips as long as oil stayed under eighty-five and the VIX held near or below twenty. Oil printed eighty-five eighty-five last night, just a hair over, while the VIX sits at seventeen point two two. So the test is live right now. My premise is simple: today's session will show whether that dip-buying habit survives when energy costs nudge the line and the Fed's cautious posture stays locked in place. Policy uncertainty from heavy federal spending and elevated energy prices keeps the central bank in its narrow hold-and-watch mode. That means limited room for rate relief this year, which in turn supports gold as the clean expression of those pressures. We flagged this exact dynamic earlier in the week, and the tape has held so far. The S&P at seven thousand four hundred thirty-seven point six three reflects a market that still prefers to absorb weakness rather than chase it higher. Institutions likely stepped in overnight on any Asia softness because the VIX remains orderly. Into the open, I expect them to defend the seven thousand four hundred level unless oil breaks decisively above eighty-six or the VIX spikes past twenty-one. One forward thesis for the session: if oil holds between eighty-five and eighty-six and the VIX stays below eighteen point five, the S&P should open within twenty points of last night's close and attract steady buying through midday, closing above the opening range. That's falsifiable by three o'clock central. Ms Vixxy flagged gold smashing the four-thousand barrier earlier this morning on the back of Middle East supply concerns and fiscal spending. What it means is that higher-for-longer rates are no longer just a talking point; they're the reason retirees and small businesses see higher borrowing costs and steadier grocery prices without relief on the horizon. Macro to your life: that same energy bill pressure shows up at the pump and in the cost of moving goods. When oil sits at eighty-five eighty-five, the margin on a small fleet or a regional manufacturer shrinks, and those costs don't vanish overnight even if headline inflation looks contained. Markets are the scoreboard, not the whole game. Seven thousand four hundred thirty-seven on the S&P tells us risk appetite is resilient, but it also tells us the bid is conditional on oil not running away. Bitcoin at sixty-three thousand six hundred sixty-five is holding its own as a secondary hedge, yet it moves more on risk sentiment than on the policy fundamentals we're watching. If you've been around, remember we noted that dip-buying would continue only while those two gates, oil under eighty-five and VIX under twenty, stayed mostly closed. Today's numbers put one gate slightly ajar, so watch the first hour for whether buyers step up or step back. The playbook into the open is straightforward: any gap down in the S&P should be viewed as an opportunity to add as long as the VIX does not breach eighteen point five and oil stays below eighty-six. Risk events on the calendar today include the usual end-of-month positioning and any late-week comments from regional Fed speakers. Nothing scheduled that should blow the doors off, which keeps the session orderly. That's the setup. In the end, the tape will decide whether the institutional bid survives this modest oil test. From Nashville, I'm Russell Clark. Have a good day.

Iran launched precision drone strikes on U.S. bases in Kuwait and Bahrain, pushing oil prices higher in overnight trading and renewing fears over disruptions in the Strait of Hormuz. West Texas Intermediate climbed to $85.44 a barrel, up more than 3 percent, as the attacks ended a brief window for diplomacy and kept tanker volumes through the critical chokepoint at a fraction of pre-conflict levels.

Apple shares came under pressure after its earnings left analysts divided on the company's ability to navigate supply constraints and higher memory prices. The S&P 500 last closed at 7,437.63.

New York Attorney General sued prediction market platform Kalshi, alleging it operates an illegal gambling business. A wildfire near the Sizewell nuclear plant in Suffolk has caused extensive damage across 150 hectares, forcing evacuations with more than 100 firefighters still battling the blaze.

Analysts say the latest volatility is creating a valuation opportunity in U.S. equities ahead of tomorrow's jobs report.

This is the 8:00 AM Central VixShield flash.

President Trump announced a breakthrough deal for Hamas to completely disarm with Israeli forces set to withdraw from Gaza, a move that could reshape Middle East diplomacy. The announcement lands as fresh data shows the US economy slowing modestly while Americans kept spending, setting the stage for Fed Chair Kevin Warsh and Congress as tomorrow's critical jobs report looms.

In European news, Spain's Prime Minister Pedro Sánchez blamed trafficking gangs after more than 40,000 migrants stormed the enclave of Ceuta from Morocco, with at least 24 dead in drownings and crushes. Authorities are now rushing to establish temporary expulsion centres for those without legal claims.

China's controversial super embassy in London will go ahead after the High Court dismissed a residents' legal challenge. World-renowned climber Nirmal Purja is among 10 struck by an avalanche on Pakistan's Broad Peak, with rescuers confirming four bodies recovered. Novo Nordisk shares dived 9% after its heart medicine failed a key trial.

Traders are watching today's employment cost index, Chicago PMI and revised University of Michigan consumer sentiment numbers.

This is the 7:00 AM Central VixShield flash.

Gold has surged past $4,000 an ounce for the first time as the migrant surge into Ceuta sends fresh safe-haven demand rippling across Europe. At least 18 people have died — some by drowning, others in a crush — after nearly 49,000 migrants crossed from Morocco into the Spanish enclave in a single day, a number equal to more than half the city's own population and prompting emergency talks in Madrid and Brussels. The chaos is now lifting the metal which dealers say is changing hands just above $4,000 with tension feeding straight into bullion bids.

The European Union is rolling out compulsory labels on any image, audio or text that looks real but is artificially generated to help voters spot deepfakes ahead of key elections.

In the United States traders this morning are watching the employment cost index, Chicago PMI and revised University of Michigan consumer sentiment.

Finally a human note: 45,000 student-loan borrowers who say they were ripped off by their colleges are now seeing those debts wiped clean in the latest round of federal relief.

This is the 6:00 AM Central VixShield flash.

Traders are watching every tick this morning with the Employment Cost Index due any minute and revised consumer sentiment numbers just hours away. These readings are seen as the final warm-up before tomorrow's non-farm payrolls and unemployment rate, which could swing Fed expectations and markets in a single print.

UK petrol prices are forecast to hit their highest level this year after the latest escalation between the US and Iran, with the AA warning averages could push above the 159.7p per litre mark set in May. A British-Azerbaijani man has been arrested in Cyprus, accused of spying on a UK airbase on behalf of Tehran. France is stepping up border controls with Spain after an estimated 49,000 migrants crossed into the Spanish enclave of Ceuta from Morocco in a single surge, with at least 18 reported dead.

Nasdaq futures are edging higher on hopes of a tech-led rebound while Democrats are showing fresh divisions over Israel policy ahead of competitive midterm races.

Bitcoin is trading near $63,635 with Ethereum at $1,882 as traders rotate into digital assets on macro uncertainty.

This is the 5:00 AM Central VixShield flash.

BP is putting its entire North Sea oil and gas business up for sale in a major corporate deal that would end more than 60 years of production in the UK. The move follows a strategic review by new chief executive Meg O'Neill to simplify the group, cut complexity and strengthen the balance sheet. The package includes five production hubs, pipelines and infrastructure employing around 1,100 people. BP says the assets would be better positioned under new ownership while the UK remains an important market for the company. Industry watchers expect private equity or national oil companies with higher tolerance for late-life fields to emerge as buyers amid ongoing fiscal and political uncertainty in the basin.

And in European news, more than 100 firefighters remain at the scene of a large wildfire on Dunwich Heath near the Sizewell nuclear plant in Suffolk. The blaze has now stabilised after burning across 150 hectares for more than 24 hours and forcing evacuations, with no immediate threat reported to the nuclear site itself.

In other news, shares of Apple fell sharply while Amazon jumped in overnight Asian trade as investors separated AI winners and losers after the latest earnings reports.

This is the 4:00 AM Central VixShield flash.

In European and Asian news, BP has formally launched the sale of its entire North Sea oil and gas business after six decades of production that began with the giant Forties discovery. New chief executive Meg O'Neill says the mature high-cost assets would be better positioned under another owner prepared to invest in their next phase, even as the UK debates future drilling licences and workers' futures hang in the balance.

In South Korea the Kospi index hit a record surge as chip giants SK Hynix and Samsung Electronics soared more than 20%, tracking the roaring artificial intelligence rally in US tech shares and fresh optimism around data-centre demand.

Japan's biggest liquefied natural gas buyer says it has secured enough supplies through October to prevent any summer power shortages despite peak air-conditioning demand. Iran's military claims it has struck strategic US assets in Kuwait and Bahrain in retaliation for a drone attack in Egypt.

This is the 3:00 AM Central VixShield flash.

Bitcoin held near $64,194 as traders monitored safe-haven demand after Ukrainian drone strikes forced the Caspian Pipeline Consortium to shut for the third time in a month. The Black Sea attack hit two tankers at Novorossiysk, sparking a fire on one vessel and prompting five more to divert. The repeated outages have slashed Kazakhstan's crude exports from the giant Tengiz field, with output dropping to roughly 1 million barrels per day from a June average of 2.16 million. Chevron and ExxonMobil are among those exposed, adding to global supply risks from the Persian Gulf and Red Sea and reinforcing the risk premium in Brent's 20% monthly surge.

In Asian markets, South Korean shares soared after a three-day chip stock rout as investors bought the dip. The death toll from last week's powerful southwestern Japan quake has climbed to 34.

In European news, Spain deployed troops to Ceuta after thousands of migrants breached Morocco's border, with at least nine reported dead. Portugal's education minister faces growing calls to resign over a failed digitised exam marking process that has sparked parent and student backlash.

This is the 2:00 AM Central VixShield flash.