The words came after a short interview with Axios, where President Trump signaled he’s willing to let economic pressure build rather than immediately launch another major military offensive.

The stance is a notable shift from just a week ago, when Trump said he was planning the "biggest attack since World War II," and considering restarting large-scale combat operations (see previous briefing).

Now, the administration appears to be betting that Iran's worsening economy and the US naval blockade will eventually force the nation to compromise. However, negotiations have stalled… again:

And those are? More or less what they’ve been asking for since January. Before fully reopening the strait, Tehran now wants the US to lift its naval blockade, withdraw all forces, end sanctions, release frozen Iranian funds, and compensate Iran for war damages.

Why is Iran going back and forth? Because its government is split. Axios reports that one faction, led by President Masoud Pezeshkian, fears the country's economic crisis could worsen and wants to reach an agreement. Meanwhile, another faction led by Revolutionary Guard commander Ahmad Vahidi completely opposes making any concessions.

What now? Regardless of the political division inside Iran, the Trump administration appears willing to stand down for the time being and see if the nation’s economic pressures strengthen the pro-deal faction.

🌎 Why is this important? The US backing away from another major attack on Iran could help keep oil prices from surging, subsequently pushing the cost of gasoline, airfare, and shipping costs higher again.

See what's changed, recent data, what we're watching next, and every other major story that affects you on our Watchlist… completely free.

The momentum the job market has this year vanished like an open parking spot at the state fair. Government data released on Friday showed the US economy lost 23,000 jobs last month, a far cry from the 100,000-job increase analysts had predicted.

Healthcare continued to be the biggest industry for employment, following a two-decade-long trend, while the hospitality, retail, and finance sectors saw drops:

Surprisingly, the unemployment rate hit its lowest level since last year, falling slightly to 4.1%.

This time the unemployment rate reflects people leaving the labor force rather than finding new jobs:

But wait, there’s more! What’s even more troubling is the government significantly lowered its May and June job estimates, indicating the labor market had been losing steam for months before the slowdown became obvious.

On top of that: Traders sharply lowered their expectations for a Fed rate hike in September following the weak jobs report, which also showed annual wage growth slowing to a five-year low of 3.2%.

🌎 Why does this matter? A weakening job market could make finding a new position (or switching jobs for better pay) considerably harder. Employers may become more selective, reduce job openings, or slow raises as hiring cools, giving workers less bargaining power after several years when employees generally had the upper hand.

See a timeline of recent events, live data, editor notes, and more on this topic with our curated index.

Saudi Arabia, Turkey and Pakistan signed a new security agreement this week, pledging that an armed attack against any one of them would be treated as an attack against all three.

The agreement shows the Middle East is becoming less reliant on the US for defense, bringing together three key defensive aspects from each country:

Pakistan is believed to have roughly 170 nuclear warheads, while Turkey commands NATO's second-largest military. In practice, analysts expect the partnership to focus less on deploying huge numbers of troops and more on joint weapons development, defense technology, intelligence and military coordination.

Why sign it now? While the pact comes amid a tumultuous time in the Middle East, the countries say the pact is defensive and isn't aimed at Iran or any other specific nation. Iranian officials, however, said it would not protect Saudi Arabia, whose critical infrastructure has come under fire as part of the war in Iran.

It works well for Saudi Arabia: The kingdom has traditionally depended heavily on the US for its security, but recent attacks have encouraged it to diversify its partnerships. In doing so, Riyadh is building more military relationships without abandoning its ties to Washington.

🌎 How does this affect you? For Americans, the biggest potential impact is at the gas pump: greater stability in the Middle East could help keep fuel prices in check, while escalating tensions could send them higher. The alliance could also reduce Saudi Arabia’s reliance on US military protection, potentially shifting some regional security responsibilities away from America.

See what's changed, recent data, what we're watching next, and every other major story that affects you on our Watchlist.

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Looks like Mom and Dad need to get the spare bedroom ready. A record number of Americans under 35 are returning home as expensive housing and rising living costs make living alone increasingly hard to afford.

Last year, 25.2 million Americans under 35 lived with their parents, according to Realtor.com. That’s a larger share than even during the COVID-19 pandemic.

It’s not because they aren’t working, since almost 70% of 25- to 34-year-olds living with their parents are employed. It’s because rent, home prices, mortgage rates, student loans, car payments, and other expenses have risen faster than many young adults' incomes. To give you a rough idea:

Homeownership isn't offering an easy alternative, either: Fewer than 4 in 10 non-homeowner households currently earn enough to afford a typical starter home, according to an analysis cited by CBS, leaving many young adults stuck between expensive rents and homes they can't afford to buy.

This wasn’t always so common: The shift is especially noticeable among thirty-somethings. The number of Americans aged 30–34 who lived with their parents last year is almost double the 7.1% who did so in 2000.

🌎 What’s the bottom line? The trend could help many young adults save money and pay off debt, but it also delay important milestones like buying a home, getting married, or starting a family. Parents, meanwhile, could face higher household expenses at a time when most are trying to save for retirement.

We’re tracking a wide range of topics on our Watchlist. Click below for new developments on the housing market, housing affordability, inflation, and more.

In a study released last week, scientists used AI to design new viruses from scratch for the first time. While the breakthrough certainly raises concerns, it could also save many lives, according to researchers.

The AI program, called Evo, was trained on more than nine trillion nucleotides (the building blocks of DNA and RNA) to create viruses not found in nature. It noticed patterns humans have never seen before:

Not all viruses are harmful: While certain ones can make us sick (think coronavirus or norovirus), scientists also engineer viruses to combat drug-resistant bacteria and treat genetic diseases. Researchers have been creating viruses for years to study how they work, and AI could make that process faster and easier.

Including these new ones, since… All 16 AI-designed viruses successfully killed E. coli, including bacterial strains that were resistant to naturally occurring viruses.

🌎 Why is this important? The research could accelerate phage therapy, an experimental alternative to antibiotics, as drug-resistant infections are projected to kill roughly 40 million people globally by 2050. However, researchers warn that more capable AI systems could also be used to create a bioweapon.

> A new study found that severe childhood stress can cause lasting damage to brain cells, making the brain more sensitive to stress later in life.

> A 70-foot-long Roman-era shipwreck was discovered off the coast of Sicily, alongside hundreds of well-preserved clay jars, after authorities received a tip from a local fisherman.

> Burger King has reclaimed its spot as America's second-largest burger chain by systemwide sales, overtaking Wendy's six years after losing the position.

> Romania sank four rock-filled barges into the Danube River in a final effort to keep its last nuclear reactor running, as record-low water levels have already forced the shutdown of its other reactor.

> A Florida steakhouse is putting a new spin on “dressing for dinner,” offering a monthly nude dining night where guests can enjoy a five-course meal completely naked.