President Donald Trump says he called off a new round of strikes against Iran on Sunday, after discussions with leaders from Saudi Arabia, Qatar and the United Arab Emirates.

Trump said the planned operation would have been the "biggest attack since World War II," but said he decided against it because negotiations were advancing rapidly. According to reports:

What else did they talk about? According to Trump, the Gulf nations argued that diplomacy offered the best chance to reopen the Strait of Hormuz and avoid a wider regional war.

Trump said on Saturday that the “parameters of a deal” were in place to end the monthslong war between the two countries. Under the reported deal:

But, as usual, these talks are disputed: Iran rejected the claim that formal talks were scheduled, and Iranian officials said they are currently only discussing maritime access through Oman and have not agreed to any broader peace negotiations.

It’s possible Iran is plotting another attack: According to a recent New York Times report, Iran coordinated with proxy groups during the last ceasefire on contingency plans to escalate the war if US strikes restarted.

🌎 Why is this important? If the conflict intensifies, Americans could quickly feel it through higher gas prices and more expensive goods as energy and shipping costs rise. A prolonged crisis could also fuel inflation and add uncertainty for households already dealing with elevated living costs.

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

Say what you want about the economy, but it is resilient. GDP growth fell to 1.5% last quarter, down from 2.1% in the previous quarter, according to government data released last week.

…the main engine of the economy is still rock solid. When excluding trade data and government spending (which constantly fluctuates), the economy grew at a healthy 3.9% annual pace.

What’s keeping things steady? Well, despite uncertainty surrounding the Iran war, Americans have kept spending money:

AI spending helped out too: Much of the quarter's economic growth came from businesses ramping up investment, particularly in AI infrastructure. Stripe Chief Economist Ernie Tedeschi estimates that AI-related spending (like building data centers) accounted for more than half of GDP growth in the second quarter.

So what weighed things down? Also AI. A massive influx of AI-related imports (like semiconductors) reduced the headline GDP figure because imports count as a subtraction in GDP calculations. But, since consumer spending remains strong and domestic demand is still high, experts say the economy is stronger than the headline GDP number implies.

🌎 Why does this matter? Government data showed consumer prices edged down 0.1% in June, largely because of lower gas prices. Despite that, annual inflation remained at 3.7%, and analysts say the return of fighting in Iran could reverse recent progress by pushing prices higher.

If inflation cools, it could pave the way for lower interest rates and more affordable loans in the months ahead.

We’re tracking economic developments on the Watchlist. Click below for new updates on inflation, interest rates, financial stress, and more.

Last week, the FCC banned new foreign-made humanoid robots, quadrupeds, and other machines that can detect and navigate their surroundings due to national security concerns.

Although a ban on androids and robot dogs might not seem like a pressing matter (at least for now), the restrictions go far beyond just human-shaped tech:

What does the US gov have against foreign bots? Officials say the devices' sensors, internet connectivity, and software can be (and have been) exploited for data collection of US citizens, cyberattacks, or the takedown of critical infrastructure, like the electric grid. See the FCC’s official statement here.

Although the ban doesn't single out any country by name, it does primarily target China, which controls roughly 85% of the global humanoid robot market, according to a Barclays report cited by the Associated Press.

Beijing made sure to state its displeasure:

This feud is nothing new: The new policy builds on previous efforts to reduce US reliance on Chinese technology, including a June ban on products from certain Chinese manufacturers and an earlier 2022 ban targeting telecommunications and video surveillance equipment.

🌎 How does this affect you? The ban could make some humanoid robots and energy tech more expensive in the short term as businesses shift away from low-cost foreign suppliers. But if domestic production expands, it could create more US manufacturing jobs and bolster the country's technology supply chains over time.

Track the latest updates on cybersecurity, AI adoption, digital privacy, and more with our Technology index.

Markets don't wait for Monday. News breaks on a Saturday morning, and most traders can do nothing but watch.

Not on Liquid. Trade domestic and international equities, commodities, forex, crypto, and prediction markets — all from one account, 24 hours a day, 365 days a year. Liquid gives you access to any market, from anywhere, anytime. To us, access is arbitrage.

Getting started takes under 10 minutes: log in with Google, deposit with Apple Pay or a bank transfer, and trade from your phone or desktop — wherever you are in the world.

While everyone else is refreshing headlines and waiting for the open, you're already positioned. That's the difference between reacting to markets and actually trading them.

Trade 24/7 on Liquid Today

Arizona, California, and Nevada will be required to significantly reduce their water use from the Colorado River under a new federal proposal as the Southwest US faces a deepening water crisis.

The plan is designed to prevent the river's two largest reservoirs, Lake Mead and Lake Powell, from falling to critically low levels after years of drought, overuse, and rising temperatures.

In total, the Colorado River supplies water to roughly 10% of all Americans. See a map of the Colorado River basin and track real-time reservoir levels.

It is the first phase of a 10-year plan that would allow cuts in water usage from the river of up to 40%. Under the framework:

Why do the Upper Basin states get excluded? Federal data from 2020 to 2024 shows the Lower Basin states used about 6.5 million acre-feet of water each year, compared with 3.8 million acre-feet in the Upper Basin states. In total, the river produces 13.1 million acre-feet of water per year (what is an acre-foot?).

Wouldn’t that make for more arguing? Probably, but federal officials say the stipulation makes the plan flexible, allowing for deeper reductions during especially dry years while also giving states time to negotiate a longer-term agreement. The plan is set to begin starting next year.

🌎 Why should you care? The proposed Colorado River cuts could eventually affect far more than just water bills. Because the river irrigates a large share of the nation's fruits, vegetables, and livestock feed, reduced water supplies could raise farming costs and lead to higher grocery prices for produce, dairy, and other foods if drought conditions persist.

Over the past decade, airlines have increasingly tried to gain loyalty from travellers by rolling out new perks. While it has generally made flying more enjoyable, it has also come at a cost.

Airlines have almost completely transformed the flying experience by rolling out a growing list of perks designed to keep travelers coming back. Among the recent ones:

However, these benefits aren’t free: As airlines invest more into premium offerings, the cost of providing those services has increased, and many of those expenses have ultimately been passed on to travelers. Base ticket prices have soared this year, while optional fees for everything from seat selection to baggage have become a larger part of the industry's revenue.

In the end, it’s all a tradeoff: Frequent flyers who maximize rewards programs may come out ahead through free flights, upgrades, and exclusive benefits. Meanwhile, occasional travelers are more likely to notice the higher upfront cost of flying without receiving many of the extras in return.

🌎 Why is this important? Thanks to the increasing prevalence of airline perks, consumers may have to choose between paying more for a comfortable flight or accepting a more basic travel experience. This could place greater value on airline rewards programs to offset rising costs.

> TSA officers got an unexpected surprise when they discovered five stolen Civil War-era cannonballs hidden inside a passenger's checked suitcase at an Alabama airport.

> A new AI system named Raygun can shrink or enlarge natural proteins without altering how they work, marking a major advance for protein engineering and gene therapy research.

> Astronomers have completed the first official measurement of the largest known galaxy in the universe, finding it stretches 1.7 million light-years across and contains the equivalent mass of about 3.4 trillion suns.

> Authorities say 15 elephants have died in southern Kenya over the past month after eating tomatoes laced with cyanide that were left near farms bordering Amboseli National Park, which is home to about 1,900 elephants.

> The first at-home Lyme disease test kits, which an MIT researcher developed, will begin shipping this month and claim to identify Lyme-carrying ticks in about 15 minutes, similar to a COVID-19 or pregnancy test.