Trump claims Hormuz control

Bloomberg Morning Briefing Americas  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

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Good morning. Trump escalates his rhetoric over the Strait of Hormuz and defends the Air Force One ruse. Plus we look at how romantasy conquered publishing. Listen to the day’s top stories. — Marc Perrier Market Snapshot S&P 500 Futures 7,768.50 +0.3% Nasdaq 100 Futures 29,831.75 +0.7% Bloomberg Dollar Spot Index 1,203.02 -0.0% Market data as of 07:20 AM ET. Data is subject to provider delays. Your watchlist Donald Trump claimed the US had “total control over the Hormuz Strait,” as Washington and Tehran hardened their positions in deadlocked negotiations over the critical waterway. Oil wavered as traders remained skeptical that a deal to restore energy flows through Hormuz was within reach. The president deflected criticism about a decision to secretly fly him out of Turkey last month on a different aircraft while the White House indicated he was aboard Air Force One. He said the Secret Service and military demanded the plan in response to unspecified safety threats. Futures rose as upbeat earnings from CoreWeave and Super Micro revived the AI trade. Shares of both companies jumped in premarket trading, while South Korean stocks surged on gains in Samsung Electronics and SK Hynix. Traders will focus on a key US inflation reading later. Check out the latest market themes right here. Moderate Democrat David Crowley is projected to defeat Democratic Socialist Francesca Hong in Wisconsin’s primary for governor, an upset in a race that became a test of the party’s ideological direction. In Minnesota, progressive Peggy Flanagan won the state’s Democratic Senate primary, defeating centrist Angie Craig, according to the AP. Trump is looking for new policy pledges he can present to voters ahead of the midterm elections, according to a top economic aide and a former administration official. Options include potentially calling on Congress to cut capital gains taxes and creating an exemption for certain home sales. ‘Waiting for Any Sign of Life’: Colombia Reels After Quake Read more Deep Dive: Power Play More than two-thirds of the electricity sought for the US artificial intelligence boom is unlikely to materialize due to a proliferation of “phantom” projects and long-shot pitches. Wood Mackenzie expects utilities and grid operators to commit to just 28% of the 1,066 gigawatts requested for data centers — capacity equivalent to more than 1,000 traditional nuclear reactors. The inflated forecasts complicate grid planning and risk raising utility bills as infrastructure costs are passed on to customers. Developers are taking a shotgun approach to pitching projects as they seek ways get ahead in the AI build-out. But that raises the risk of overwhelming US grids and creating even more bottlenecks. The Big Take Illustration: Ibrahim Rayintakath for Bloomberg Businessweek Investors are betting that $5 billion AI music startup Suno will be the next Spotify, but it risks being a notable bust as some record labels call it theft. Big Take Podcast China’s Kimi K3 Is Shaking the AI World Opinion Cristiano Ronaldo. Photographer: Ronaldo Schemidt/AFP The rivalry between prediction markets’ two biggest players is in danger of fizzling out, Emily Nicolle writes. With the World Cup over, Polymarket’s decline is worsening without a major sporting draw or political event to bolster demand. More Opinions James Stavridis Putin Can’t Break Down NATO’s Door. He’s Trying the Window John Authers Invest in the Wisdom of Crowds After They Go Home Play Alphadots! Our daily word puzzle with a plot twist. Today’s clue is: Taking over or going under? Play now! Before You Go The steamy, magical and now very lucrative world of romantasy is casting a billion-dollar spell on publishing, spawning a cottage economy and tempting Hollywood with its next big franchise. A Couple More NYC Brokers Are Charging Renters $4,000 to View Hidden Listings Harvard Students Are Already Stressing Over the Crackdown on A’s Bloomberg Power Players: Set against the backdrop of the US Open Tennis Championships, Bloomberg Power Players returns to New York on Sept. 10. From athletes and team owners to commissioners and investors, this event will gather the most influential voices for market-moving conversations on the multitrillion-dollar sports economy. Learn more here. More From Bloomberg Enjoying Morning Briefing Americas? Get more news and analysis with our regional editions for Asia and Europe. 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