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Tariffs/TradeIMPORTANT

After Trump’s Supreme Court tariff defeat, administration officials are devising legal strategies that would let the president keep some — or maybe even most — of the revenue, five people familiar with the conversations told POLITICO.

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Today's market highlights

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U.S. Markets

Eli Lilly (LLY) Q2 2026 (USD): Adj. EPS 8.38 (exp. 6.01), Revenue 23bln (exp. 20.7bln)

LLYGeopolitics

Gulf official tells CNN “50:50” chance US and Iran could reach deal by Friday, CNN reports; Iranian delegation does not include IRGC, which would need to sign off on details of provisional agreement

U.S. Economy

US ADP Employment Change (Jul) 44K vs. Exp. 70K (Prev. 98K)