Good morning and welcome to Markets Desk.
Federal Reserve officials are sounding a distinctly hawkish note, with minutes from the July meeting revealing that many policymakers are prepared to raise borrowing costs further. The concern is persistently high inflation, and the word "many" in Fed minutes carries weight — this is not a fringe view inside the building.
Shifting to media and regulatory risk, ABC and parent company Disney have filed suit against the Federal Communications Commission, calling the agency's push for early license review an existential threat to the network. The lawsuit rests on First Amendment grounds, and it signals that the escalating friction between the Trump administration and major broadcasters has now moved squarely into federal court.
On the commodity side, arabica coffee futures slid more than one and a half percent today as Brazil's harvest accelerates on the back of drier weather. The Cooxupe cooperative confirmed the pace is picking up, and with supply coming in faster than anticipated, sellers are clearly in control of this market for now.
That's the tape. Markets Desk, signing off the floor.
