Global Express | July 29, 2026 Iran Fires Ballistic Missiles at US Forces, US-Saudi Strikes Iran Proxies

📰 Iran Fires Ballistic Missiles at US Forces in Middle East; US-Saudi Forces Strike Iranian Proxies in Iraq

US Central Command confirmed on July 28 that Iran launched multiple ballistic missiles at American forces stationed in the Middle East in an attempted "surprise attack," all of which were intercepted by US air defense systems. This marks the first direct Iranian military strike on US forces since a brief ceasefire last week, signaling a sharp escalation in Middle East tensions.

In response, the United States and Saudi Arabia carried out joint airstrikes against Iranian proxy forces in Iraq. The Pentagon said the strikes targeted weapons storage facilities and command centers, aiming to degrade Iran's military influence in Iraq. Meanwhile, the Iranian military claimed its missiles had targeted American military assets in Jordan.

Analysts note that this exchange of fire indicates the military confrontation has entered a dangerous new phase. Despite ongoing negotiations between Iran and Oman over reopening the Strait of Hormuz, hostilities on the battlefield show no sign of abating. The UN Secretary-General has called on all parties to exercise maximum restraint to prevent further escalation of the conflict.

— CNN

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📰 Iran Proposes Temporary Strait of Hormuz Deal with Oman, Warns Waterway Will Remain Shut if Rejected

The Iranian government formally presented a draft temporary agreement on Strait of Hormuz security passage to Oman on July 29. Iranian officials stated that if approved, the deal would allow limited commercial shipping through the critical global oil transit route. However, Tehran explicitly warned that the strait would remain closed if the proposal is rejected.

The Strait of Hormuz carries roughly one-fifth of the world's oil shipments, and its closure since the outbreak of the Iran-US conflict has triggered severe volatility in international oil prices. Negotiations between Iranian and Omani officials over the weekend were described as constructive, with discussions focused on a phased reopening of the strait while safeguarding Iran's national security interests.

International energy markets have reacted cautiously to the news. Analysts believe that even if a temporary deal is reached, it would only partially ease supply pressures. A full recovery of global energy supply chains would require a broader political resolution. Economies heavily dependent on Middle Eastern oil, including the European Union and Japan, are closely monitoring the negotiations.

— CBS News

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📰 Trump Hosts Back-to-Back White House Meetings with Zelenskyy and Netanyahu

US President Donald Trump held separate high-stakes meetings with Ukrainian President Volodymyr Zelenskyy and Israeli Prime Minister Benjamin Netanyahu at the White House on July 28. The back-to-back sessions on a single day underscored Washington's central role in managing two major international conflicts simultaneously.

Zelenskyy focused the discussion on strengthening Ukraine's air defense capabilities, seeking additional advanced air defense systems from the United States to counter ongoing Russian aerial attacks. Trump expressed support for Ukraine's fight but stopped short of publicly committing to new military aid packages. The two leaders also exchanged views on diplomatic pathways to ending the Russia-Ukraine war.

Netanyahu, for his part, sought to repair strained relations with Washington. Israel's position in the Iran war and coordination with the United States were key topics of discussion. The White House press secretary described Trump's meeting with Netanyahu as "productive," with both sides reaffirming the unwavering commitment to Israel's security. Both meetings took place on the same day as the funeral of the late Senator Lindsey Graham.

— The Guardian

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📰 Hundreds of Thousands Evacuated as Wildfires Rage Across France and Spain Amid Intensifying Heat Wave

An unprecedented wildfire crisis is sweeping across southwestern France and central Spain, forcing hundreds of thousands of people to flee their homes. Approximately 4,000 people were evacuated from the tourist destination of Lacanau near Bordeaux in France, while at least 63,000 residents received evacuation orders in the Madrid region of Spain. French authorities have warned that an "intense" heat wave will peak on Wednesday.

According to Copernicus, Europe's climate change service, France has already experienced 3.4 times as many fires as its annual average in 2026, while Spain has seen 1.7 times the norm. Climate scientists say global warming is "supercharging" such extreme fire events. A wildfire in southwestern France even produced the country's first recorded pyrocumulonimbus cloud, a rare weather phenomenon that further intensified the spread of flames.

The French and Spanish governments have mobilized thousands of firefighters and military personnel, along with firefighting aircraft dispatched from other southern European countries. The European Union has activated its civil protection mechanism to coordinate cross-border assistance. However, recurring high winds and extreme heat continue to threaten firefighters' efforts, with the blazes unlikely to be fully contained in the near term.

— The Guardian

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📰 Ukrainian Drones Strike Moscow Oblast Industrial Plant as Russian Attacks Kill 9 Across Ukraine

Ukrainian drones struck a steel fabrication plant in Russia's Moscow Oblast in the early hours of July 28, while a blackout was reported in occupied Crimea. According to monitoring channels, Ukrainian forces also hit multiple warehouse facilities belonging to Wildberries, Russia's largest online retailer, marking consecutive strikes over several days that demonstrate Ukraine's growing long-range strike capabilities.

Meanwhile, Russian attacks across Ukraine killed at least nine people and injured nearly 70 others over the past day. Russian forces continued their campaign of strikes on gas stations and energy infrastructure, aiming to degrade Ukraine's logistical supply chains. Ukraine's air defense forces claimed to have neutralized 107 of the 131 drones launched by Russian forces during the night of July 28.

On the battlefield, Russian forces are maintaining pressure along multiple frontlines, though Ukraine's General Staff says the situation remains under control. Russian independent media outlet Verstka reported that Kremlin officials are discussing the potential introduction of a new wave of mobilization following the September 2026 State Duma elections, with some security officials advocating for full or partial martial law to prevent civil unrest.

— The Kyiv Independent

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📰 China Begins Mass Production of Homegrown DUV Lithography Machines, Triggering Global Tech Stock Rout

According to tech publication The Information, a Chinese state-backed company in Shanghai has begun mass-producing the country's first homegrown immersion deep ultraviolet (DUV) lithography machines, marking a critical breakthrough in Beijing's drive to overcome Western chip technology restrictions. The equipment is capable of manufacturing the most widely used semiconductor chips, with approximately five units expected to be delivered to SMIC, Hua Hong, and CXMT this year.

The news triggered a sharp sell-off in global chip stocks. The Nasdaq Composite index slid more than 1% at one point, Asian tech stocks led declines across emerging markets, and shares of European semiconductor equipment giant ASML also came under heavy pressure. Investors fear that China's homegrown lithography breakthrough could reshape the global chip manufacturing landscape and erode the competitive advantages of incumbent market leaders.

Analysts point out that while China's domestically produced DUV lithography machines still lag behind ASML's top-tier products in precision and production capacity, this milestone demonstrates that Beijing's determination and investment in semiconductor self-sufficiency are yielding tangible results. The US chip export controls, ironically, appear to have accelerated China's independent research and development efforts in this critical sector.

— CNBC

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📰 Fed Rate Decision Looms as Big Tech Earnings from Microsoft and Meta Take Center Stage

Global financial markets are holding their breath ahead of this week's Federal Reserve interest rate decision and quarterly earnings reports from tech giants including Microsoft, Meta, Qualcomm, and Arm. The market widely expects the Fed to hold rates steady, but investors are laser-focused on any changes in the policy statement's language that could signal the future direction of monetary policy.

Wall Street closed mixed on Monday, with the Dow Jones Industrial Average edging higher while the tech-heavy Nasdaq came under pressure from the chip sell-off. Within the S&P 500, the information technology sector declined 0.9% and energy fell 2.1%, while consumer staples bucked the trend with a 1.5% gain. Trading volumes in Treasury futures hit record highs, reflecting significant disagreement in the market about the future rate path.

Analysts say this week's Big Tech earnings will serve as a crucial test of the return on investment in artificial intelligence. The enormous capital expenditure by Microsoft and Meta on AI infrastructure is under intense scrutiny, with investors eager to see these investments translate into actual revenue growth. Fed Chair Powell's press conference following the rate decision will also provide critical guidance for markets.

— CNBC

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📰 Apple Launches iPhone Upgrade Leasing Program with Klarna Starting at $17.99 per Month

Apple officially announced the launch of its "Apple Upgrade" device leasing program on July 28, partnering with buy-now-pay-later service Klarna to offer US consumers the option to lease an iPhone starting at $17.99 per month. The program covers iPhone, Apple Watch, Mac, and iPad, with lease terms of 12 or 24 months available.

According to Apple's official press release, the Apple Watch lease starts at $11.99 per month, and customers can participate at all US Apple retail stores and online. Unlike traditional installment plans, Apple Upgrade is fundamentally a leasing model — at the end of the lease term, customers can choose to return the device, renew the lease, or upgrade to a new model, lowering the upfront financial barrier to owning Apple products.

Analysts view this move as reflecting Apple's strategic adjustment amid slowing smartphone market growth. By lowering monthly ownership costs, Apple aims to attract more price-sensitive consumers into its ecosystem while increasing the stickiness of its services revenue. Klarna, as the financing partner, also stands to expand its user base in the US market through this partnership.

— CNBC

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📰 Senator Lindsey Graham Remembered at Washington National Cathedral Funeral Service

The memorial service for the late US Senator Lindsey Graham was held at the Washington National Cathedral on July 28, with President Trump, Ukrainian President Zelenskyy, Israeli Prime Minister Netanyahu, and numerous other domestic and international dignitaries in attendance to pay their final respects to the longtime influential figure in American foreign policy.

At the service, Senate Majority Leader Thune delivered a eulogy praising Graham as someone who "told things the way he saw them and didn't mince words." The Very Rev. Randolph Hollerith, dean of the National Cathedral, presided over the solemn religious ceremony — he has previously officiated at services for former presidents. Graham's remains had earlier lain in state at the US Capitol for public viewing.

Graham's funeral ceremonies will span two days: following the Washington memorial, his casket will be transported to his home state of South Carolina on July 29, where ceremonies will include an F-16 flyover at the state house in Columbia, followed by a procession to First Baptist Church for a public service before his final interment in his hometown.

— The Guardian

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📰 Bitcoin Slides Below $64,000 Ahead of Fed Meeting as Crypto Market Faces Pressure

Bitcoin's price has been on a steady decline over the past week, falling from a high of $66,719 on July 22 to approximately $63,956 on July 29, representing a drop of roughly 4.1% over the period. By Tuesday's open, bitcoin had slipped further to around $63,327, while Ethereum fell 3.2% to approximately $1,890, with the broader cryptocurrency market capitalization under sustained pressure.

Traders are closely watching the $63,000 support level. Market analysis indicates that bitcoin's decline is closely correlated with deteriorating global risk appetite. Geopolitical tensions, the global chip stock sell-off, and risk-averse sentiment ahead of the Federal Reserve's interest rate decision have collectively driven capital outflows from cryptocurrency markets. Some analysts warn that if the $63,000 support level is breached, bitcoin could fall further toward the $61,000 zone.

Despite the bearish short-term sentiment, some institutional investors remain confident in bitcoin's long-term prospects. Continued corporate buying activity has provided support for Ethereum, suggesting that institutional demand for crypto asset allocation has not fully dissipated. The market's interest rate expectations following the Fed decision will be the key factor determining the near-term direction of cryptocurrency markets.

— Yahoo Finance

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