President Trump met separately with the leaders of Ukraine and Israel at the White House on Tuesday, while Capitol Hill prepares for high-profile testimony.
Here is what you need to know this morning, Wednesday, July 29, 2026:
🏛️ Top Domestic & Political News
- Fauci Testifies Under Subpoena: Dr. Anthony Fauci is scheduled to appear before a Senate hearing led by Senator Rand Paul (R-KY). The investigation focuses on the origins of COVID-19, following the weekend release of over 1,100 pages of Fauci's personal pandemic-era diaries.
- Intelligence Leadership Confirmed: The Senate officially confirmed Jay Clayton to serve as the Director of National Intelligence.
- White House Diplomacy: President Trump held diplomatic meetings with Ukrainian leadership and Israeli Prime Minister Benjamin Netanyahu. Observers noted Netanyahu's arrival via a low-profile entrance at the White House.
🌍 Global Headlines
- European Wildfires: Intense, severe heatwaves across Western Europe are threatening to break firefighter containment lines on massive blazes tearing through France and Spain.
- Middle East Escalation: The U.S. military, alongside Saudi Arabian forces, thwarted an Iranian missile attack and launched targeted counterstrikes against militias in Iraq. The military action shatters a brief period of calm over the strategic Strait of Hormuz.
📈 Markets & Business Updates
- Tech Shakeup: Apple has surpassed Nvidia to once again become the world’s most valuable publicly traded company.
- Global Market Plunge: South Korea's Kospi index plunged over 8%, dragged down heavily by a 10% drop in semiconductor giant SK Hynix, sparking concerns over deepening global tech selloffs. U.S. stock futures pointed lower in response.
Bitcoin has steadied above $64,000, trading at $64,414.96 as digital asset markets brace for the Federal Reserve’s upcoming interest rate decision.
🪙 Crypto & Web3 Updates
- Holding Patterns: Bitcoin gained roughly 0.75% to reclaim the $64,000 baseline after a highly volatile two-day slide.
- Fed Rate Looming: Traders are hedging cautiously ahead of the Fed's 2:00 p.m. ET policy announcement. The market is weighing mixed macroeconomic signals, with some analysts bracing for a potential interest rate hike.
- Regulatory Delays: Crypto assets faced downward pressure earlier this week after the U.S. Senate delayed its vote on the CLARITY Act, a key digital asset market structure bill. The vote is now pushed closer to the August 8 recess.
- Tax Loophole Target: Lawmakers are mounting a rare bipartisan push to close a lucrative crypto wash sale tax loophole. The policy currently allows digital asset investors to claim major investment losses without actually divesting their portfolios.
Would you like to monitor the upcoming Fed rate decision results later today, check the price action of other assets like Strive, (ASST) or explore details on the CLARITY Act delays?
All responses may include mistakes. For financial advice, consult a professional. Learn more
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