Washington and Tehran both play it cool

Key Points:

• Iran denies direct negotiations with the U.S. over reopening the Strait of Hormuz, with talks reportedly conducted through intermediaries; U.S. President Trump describes the engagement as "semi-negotiating" and "low keying it."
• Market sentiment reflects skepticism about a Strait of Hormuz deal, with U.S. stock futures declining slightly and traders lowering the probability of a Federal Reserve rate hike in September to 44%, pending upcoming inflation data and geopolitical developments.
• Israeli Prime Minister Benjamin Netanyahu rejects U.S. President Trump's Gaza peace plan, insisting Israeli military withdrawal will not occur until Hamas is disarmed, while the White House views Netanyahu's stance as typical election-season rhetoric.
• Berkshire Hathaway CEO Greg Abel is actively deploying the company’s large cash reserves, increasing stock buybacks to $4.5 billion in Q2 and making nearly $20 billion in net equity purchases, signaling a shift from Warren Buffett's previous cash hoarding strategy.
• Meta faces pressure from an Indian parliamentary panel demanding an apology from Mark Zuckerberg over the temporary restriction of a post by Prime Minister Narendra Modi, with potential consequences including the revocation of Meta’s safe harbor immunity, which is crucial for its operations in India.