According to Nikkei, under an agreement Mitsubishi Heavy Industries will supply cooling systems and energy-management equipment for AI data centers.

Fed Chair Kevin Warsh said he will ensure the Federal Reserve remains independent during his tenure.

U.S. consumer prices fell more than expected in June, recording the largest monthly drop since April 2020 as a sharp fall in energy eased recent inflationary pressure. Headline CPI declined 0.4% m/m (seasonally adjusted), taking the y/y rate to 3.5%; economists had penciled in -0.2% m/m and 3.8% y/y. Core CPI (ex food and energy) was unchanged m/m, with the 12-month rate at 2.6% versus market expectations of +0.2% m/m and 2.9% y/y. The energy index plunged 5.7% m/m (still +15.7% y/y); gasoline and fuel oil each fell more than 9%. Services inflation excluding energy eased noticeably—a key Fed-watch category—with housing up just 0.1% and transportation services down 0.3%. Food rose 0.2% m/m; new vehicle prices were flat; used cars and trucks fell 0.2%; apparel declined 0.6%.