SpaceX's Starlink has applied to Indian regulators for approval to operate a satellite network using direct-to-device technology, the Financial Times reports.

Goldman Sachs trading-desk data show July ETF and index options put/call ratio (PCR) rose to 112%, a year-to-date high. Since March the PCR gap between ETF+index options and single-stock options has widened to 53 percentage points, signaling investors are selectively buying individual names while materially increasing market-level hedging. Goldman says traders may continue to hold favored stocks and use ETF and index options to protect against market, interest-rate and macro-driven drawdowns. If demand for index puts continues to climb while single-stock buying stays resilient, markets could move further into a stock-selection, lower-aggregate-beta regime.

Markets will parse the Fed’s July minutes for signs the three officials who voted to raise rates were not the full extent of a hawkish cohort; evidence that more officials seriously considered a hike would prompt re-pricing of September policy. Key read-throughs: whether minutes show more officials weighing a rate increase even if they did not cast a dissenting vote, how many said the “next step should be a hike,” and whether any argued for consecutive hikes. Watch hawks’ inflation arguments — whether they link persistent upside risk to supply shocks (notably energy), AI-driven demand and tariffs, and whether they flagged Middle East risks to energy and inflation — and whether they judge the labor market sufficiently robust to tolerate tighter policy in service of price stability. Compare tone with June’s minutes, which set out two scenarios (disinflation vs. sustained upside risks); if wording on the hike scenario is firmer or broader and shows a majority seriously discussing hikes, that alone would be policy-relevant. Offsetting force: post-July jobs and inflation readings have weakened and retail sales and consumer confidence have softened, nudging market-implied September hike odds down to roughly 30%. Nonetheless, if minutes show most officials were close to hiking at the July meeting, markets may view September as an uncertain meeting where the hike option remains on the table unless subsequent data materially worsen.