Markets & Rates: A stronger-than-expected U.S. economy (S&P Global flash PMI) is reviving the idea that the Fed may keep rates higher for longer, complicating hopes for near-term cuts. AI Policy & Competition: Nvidia, Microsoft and other tech firms urged Congress to back open-source AI models, warning broad restrictions could push innovation overseas. AI & Tech Industry: Regulators warned prediction-market platforms against “template-style” event contracts that skip clear terms and analysis. Tariffs & Trade: Lula criticized new U.S. tariffs as a mistake that could raise costs and disrupt supply chains, while small businesses continue filing lawsuits over the latest tariff wave. Consumer Tech & Business: Apple is reportedly preparing a U.S. iPhone leasing plan (“Apple Upgrade”) as AI-driven chip demand pressures memory and storage costs. Energy & Weather Risk: A heat dome is set to expand across the central U.S., with 70 million people facing advisories—raising health and productivity risks. Corporate/Finance: Shein moved closer to a Hong Kong IPO as U.S. duty-free changes pressured profitability. Local Business & Economy: Illinois bars and restaurants saw a boost from World Cup viewing, but owners still face labor and utility cost pressure.