Federal Reserve's Goolsby: Once inflation expectations go astray, they are very difficult to correct.

Technology / AI / Semiconductors - Tencent has launched ClawBot, connecting its WeChat platform with the OpenClaw AI agent. - Tesla and SpaceX have unveiled “Terafab,” a joint $25 billion chip fabrication facility in Austin, Texas, that Elon Musk claims will produce 1 terawatt of computing power annually. - Huawei Unveils 950PR AI Chip, delivering performance 2.87x that of the H20 - Huawei has launched the Atlas 350 accelerator, targeting AI inference rather than model training. - OpenAI plans to almost double its headcount by the end of 2026 as it seeks to fend off competition companies such as Anthropic PBC and Alphabet Inc.’s Google Macro/Central Banks/Policy - PBOC Governor: Current account surplus accumulated by China is allocated to different regions and industries worldwide through foreign investment by Chinese enterprises and the banks - China: This year, 250 billion yuan of ultra-long-term special treasury bonds will be arranged to support the exchange of consumer goods Geopolitics / Energy / Iran - Iran says Hormuz open to all but 'enemy-linked' ships amid US threat - Iran collected about $2 million in transit fees from some vessels passing through the Strait of Hormuz, an Iranian lawmaker has said. - Iran’s military says Strait of Hormuz will be ‘completely closed’ if US bombs power plants - U.S. eases Iranian oil sanctions in scramble to contain energy prices, handing Tehran a boost - Trump: U.S. could end Iran military operations ‘right now’ but will continue so Iran can ‘never rebuild’ - Bessent: Let’s just pick 50 days of temporary elevated prices. Prices will come off on the other side for 50 years of not having an Iranian regime with a nuclear weapon. Politics / Polls - Trump approval rating hits new low; disapprove at 63 percent; approve at 34 percent; latest ARG poll shows weakest approval levels recorded so far Diplomacy/US–China - China Vice-Premier He Lifeng met with a delegation from the US-China Business Council on Sunday in Beijing M&A/Corporate Actions - Zijin Mining Moves to Take Control of Chifeng Jilong Gold in RMB18.3 Billion Deal

Market news: UNIFIL says shootings and explosions occurred near its headquarters in southern Lebanon.