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• Trump says meeting with Putin in Alaska “productive,” but provided no specifics
  The meeting between the US and Russian presidents lasted about three...
  The meeting between the US and Russian presidents lasted about three hours and ended abruptly, with both leaders making statements to the press but taking no questions. In Russian, Putin said, “I would like to hope that the understanding we have reached will allow us to get closer to that goal and open the way to peace in Ukraine.” Trump said, “We had an extremely productive meeting and many points were agreed to, there are just a very few that are left. We didn’t get there, but we have a very good chance of getting there.” Afterward, Trump gave an exclusive interview to Sean Hannity on Fox News, where he said, “Now, it’s really up to President Zelensky to get it done.” Zelensky was not invited to this meeting, but Trump said he would be briefing the Ukrainian president and NATO leaders on what transpired.
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• ☕️What Else is Brewing Saturday Morning
  Americans shopped hard in July, but it may not last. US...
  Americans shopped hard in July, but it may not last. US retail sales gained more than expected last month (+0.5%) and June’s figures were revised higher, showing that Americans were feeling plenty flush to spend on a broad range of goods this summer. Amazon’s four-day Prime Day sale surely helped, too. But other data released yesterday suggested more penny-pinching ahead: US consumer sentiment fell in August after climbing every month since May, and expectations for inflation jumped. Nearly 60% of Americans plan on curbing spending this year, the most recent University of Michigan survey found.
  
  Louisiana’s attorney general sued Roblox, accusing the online gaming platform of having lax safety standards that make it a “perfect place for pedophiles.”
  
  Saudi Arabia’s Public Investment Fund took an $8 billion write-down on five megaprojects it’s building, due to lower oil prices and higher costs.
  
  California lawmakers revealed a proposed House map that would favor Democrats and offset potential GOP gains made through Texas redistricting.
  
  Pimco, an asset management giant, warned that President Trump’s plan to IPO Fannie Mae and Freddie Mac could push mortgage rates higher.
  
  Costco decided against selling a key abortion pill, a victory for conservatives who had campaigned against it.
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• Oil settled nearly $1 lower as Trump-Putin talks loom
  (Reuters) - Oil prices closed down nearly $1 on Friday...

  (Reuters) - Oil prices closed down nearly $1 on Friday as traders awaited talks between U.S. President Donald Trump and Russian leader Vladimir Putin, which could lead to an easing of the sanctions imposed on Moscow over the war in Ukraine.

  
  

  Brent crude futures settled 99 cents lower at $65.85 a barrel, while U.S. West Texas Intermediate crude futures eased $1.16 lower at $62.80 a barrel.

  
  

  Trump arrived in Alaska on Friday for his summit with Putin after saying he wants to see a ceasefire in the war in Ukraine "today."

  
  

  Trump has said he believes Russia is prepared to end the war, but he has also threatened to impose secondary sanctions on countries that buy Russian oil if there is no progress with peace talks.

  
  

  Putin also arrived in Anchorage. Kremlin spokesman Dmitry Peskov said Russia expects the talks to bring results, Russia's Interfax news agency reported.

  
  

  "If a ceasefire announcement is made, it will be taken as a negative to crude near-term," Kissler added.

  
  

  For the week, WTI dropped 1.7%, while Brent eased 1.1%.

  
  

  Weaker economic data from China, meanwhile, raised concerns over fuel demand.

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• Dow misses record close, while S&P 500 and Nasdaq fall but tally weekly gains
  U.S. stocks finished mostly lower on Friday, as the S&P...

  U.S. stocks finished mostly lower on Friday, as the S&P 500 and Nasdaq slipped at the end of what was otherwise a strong week on Wall Street.

  
  

  The Dow Jones Industrial Average finished higher, but missed what would have been its first record close of 2025. However, the blue-chip gauge tallied a fresh intraday high earlier, its first of the year.

  
  

  Here's where stocks ended, according to preliminary closing levels from FactSet:

  
  

  The S&P 500 fell by 18.75 points, or 0.3%, at 6,449.80.

  
  

  The Nasdaq Composite shed 87.69 points, or 0.4%, to 21,622.98.

  
  

  The Dow gained 34.86 points, or 0.1%, at 44,946.12.

  
  
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• Erin Becomes the Atlantic’s First Hurricane This Year
  Erin became the...

  Erin became the first hurricane of this year’s Atlantic season on Friday, and it’s expected to continue growing stronger over the next few days, potentially even as strong as a Category 4.

  
  

  The hurricane is expected to bring heavy rain and strong winds as it passes north of the Caribbean islands over the weekend. And forecasters on Friday began to have a clearer picture of where they expect it to go after that, saying the likelihood of direct effects on the East Coast of the United States are “gradually decreasing.”

  
  
  
   
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