A European Commission spokesperson said the association of grid operators is preparing for the solar eclipse's impact on the power grid.

US services activity remained in steady expansion in July as new orders and business activity recovered. The ISM services index rose 0.1 point to 54.1 (expansion >50); new orders accelerated and the business-activity gauge reached a five-month high. Cost pressures intensified: the ISM input-price index jumped to 70.3 in July after the collapse of a temporary US–Iran agreement pushed oil and gasoline prices higher, and services and materials costs continued to rise. The employment subindex showed the largest reduction in staff since March; with elevated costs squeezing margins and weighing on consumer spending, some firms may delay hiring.

Kashkari said the Fed will see substantial data before its September meeting.