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Challenges aboard the USS Abraham Lincoln are affecting the mental health of U.S. soldiers, as the Middle East conflict drags on.
Trump continues to double down on his Middle East rhetoric, claiming the Straight of Hormuz would soon become U.S. territory while advancing his Gaza plan.
U.S. relations with South Korea are also under renewed focus, after Trump asked the Pentagon on Sunday to scale back planned joint military exercises.
What you need to know today
Mental health challenges aboard the USS Abraham Lincoln have been acknowledged by U.S. Central Command Adm. Brad Cooper, following reports that a sailor had jumped overboard amid the aircraft carrier’s long Middle East deployment.
The Lincoln, which has been deployed for more than eight months, has been facing reports of widespread morale and mental health issues, as the conflict continues with no clear end in sight.
In his bid to assert the upper hand in the Middle East conflict, U.S. President Donald Trump has said that the Strait of Hormuz would soon become U.S. territory. That claim was rebuffed by Iran, as negotiations with Tehran to open the crucial appear to have been stalled.
Experts also warned that rapid release of oil stockpiles in response to the Iran war could damage the caverns that hold the U.S. strategic oil reserves, as inventories hit a four-decade low.
On the Gaza front, a diplomatic source reportedly said that Trump’s envoys have met with Egyptian, Qatari and Turkish mediators in Cairo on Sunday, to advance a Gaza peace plan.
Meanwhile, Trump took aim at South Korea, ordering the Pentagon on Sunday to scale back planned joint military exercises with the country, saying Seoul had declined to help denuclearize Iran.
Over in Asia, China’s State Taxation Administration’s is said to move to conduct large-scale training for local officers to align on how they tax offshore trusts, after the new rules led to confusion among the rich.
In more China news, investors will be keeping an eye out for the country’s retail sales and investment data due later in the day.
Moving to markets, Anthropic‘s revenue reportedly surged more than 14-fold in the second quarter from a year earlier, as it prepares for a potential blockbuster initial public offering.
Separately, Google parent Alphabet is now the third largest holding of Berkshire Hathaway’s equity portfolio, with data suggesting Berkshire bought around $7 billion of Alphabet shares on the open market.
U.S. stock futures were little changed, while Asia markets opened mixed on Monday.
—Justina Lee
And finally…
Extreme heat spurs earliest-ever Champagne harvest, putting its famous taste to the test
Sweltering summer temperatures look set to spur the earliest Champagne harvest on record and potentially one of the most challenging. The French region’s winemakers face lower crop yields, weaker consumer demand and a threat to the iconic drink’s famed fresh taste.
The Champagne season officially starts on Aug. 15 this year, with the majority of picking expected between Aug. 20 and 25, around two weeks earlier than usual in recent years. Before the early 2000s, harvesting the grapes of the sparkling wine — which brought in $6.6 billion in sales revenues last year — almost always took place in September or October.
—Jenni Reid
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