Monday, August 17, 2026

Alpha Picks is up 378%—new pick out today

Trump curbs South Korea drills

Bloomberg Morning Briefing Americas  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌
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Good morning. Trump orders the Pentagon to curtail drills with South Korea. Covert Mideast oil flows are keeping prices in check. And beef is getting too expensive for Americans. Listen to the day’s top stories.

— Marc Perrier

Market Snapshot
S&P 500 Futures 7,816.50 +0.1%
Nasdaq 100 Futures 30,291.75 +0.5%
Bloomberg Dollar Spot Index 1,198.69 -0.2%
WTI Crude Oil Futures $83.02 +0.8%
Market data as of 06:30 AM ET. Data is subject to provider delays.

Donald Trump told the Pentagon to “substantially reduce” joint military exercises with South Korea, signaling frustration that the longtime US ally hadn’t provided more support for the Iran war. The apparent use of a military commitment as leverage may raise concerns among other Asia-Pacific allies.

Deadly Israeli strikes in Lebanon further dimmed prospects for US-Iran negotiations as their ceasefire expires today. Israeli Prime Minister Benjamin Netanyahu said the strikes were retaliation for a Hezbollah attack that injured three soldiers Saturday. The Wall Street Journal reported that Iran’s leaders have spent months drawing up plans to escalate the conflict.

Oil steadied as traders weighed the uncertain outlook for a deal to end the conflict. Even as the Iran war drags on, Middle Eastern producers are ferrying crude through the Strait of Hormuz undetected, helping cap prices, people with knowledge of the shipments said. Elsewhere, Nasdaq futures rose on expectations that massive spending on artificial intelligence will continue.

At least six people died in Indiana after severe storms and floods inundated the Midwestern state, prompting Trump to approve a federal emergency aid request. In Hawaii, one person was killed as Lala battered the islands with heavy rain. The storm weakened from a hurricane yesterday but is still expected to bring more rain to the Big Island and windward Maui.

Deep Dive: High Steaks

A shopper browses meat at a grocery store in New York.
A shopper browses meat at a grocery store in New York.
Photographer: Michael Nagle/Bloomberg


After absorbing almost two years of surging beef prices, Americans are finally showing signs that they have reached their limit.

  • It marks a notable turn for a market where a shrinking US cattle herd repeatedly pushed prices to records, yet consumers kept buying enough beef to support further increases.
  • Beef sales volumes in the 13 weeks ending in mid-July fell 0.3% from a year earlier, according to Circana. Chicken, meanwhile, continues to see consumption rise, with ample supplies keeping prices under pressure.
  • The steep runup in beef is a major concern for the Trump administration ahead of the midterms, as staples like eggs, ground beef and gasoline disproportionately shape perceptions of inflation.

The Big Take

Mark Walter.
Mark Walter.

The CEO of Guggenheim Partners and owner of the LA Dodgers flipped the Lakers within a year and has explored other ways to pay down loans from his insurers. Now, Mark Walter’s empire is at the heart of a federal probe.

Big Take Podcast

Opinion

Pumpjacks in Texas.
Pumpjacks in Texas.
Photographer: Daniel Acker/Bloomberg

The global oil map has been redrawn far more than is commonly perceived, Javier Blas writes. Mideast upheaval will guarantee that more money backs development in the Americas, further shifting the industry toward the West.

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Before You Go

Hayden Panettiere.
Hayden Panettiere.
Photographer: Nathan Congleton/NBC via Getty Images

Hayden Panettiere, star of popular television series including Heroes and Nashville, died aged 36. No cause of death has been announced. The actress had been open about her struggles with alcohol addiction and depression.

A Couple More

Bloomberg Power Players - New York: Set against the backdrop of the US Open Tennis Championships, Bloomberg Power Players returns to New York on Sept. 10, bringing together the leaders shaping this global industry. From athletes and team owners to commissioners and investors, this event will gather the most influential voices in the multitrillion-dollar sports economy. Learn more here.

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