10AM ET 07/14/2026 Newscast

Summary

Fox News Hourly Update – 10AM ET, July 14, 2026

Host: Dave Anthony (FOX News Podcasts)
Episode Theme:
A concise rundown of breaking economic developments, Supreme Court activity, mounting US-Iran tensions, and impactful tech regulation, with coverage of financial markets and major headlines as of July 14th, 2026.

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Inflation & Economic Overview

Key Points:

• June Inflation Drops:

  • The latest Consumer Price Index (CPI) report indicates a notable decline in inflation for June.
    • Headline CPI dropped by 0.4% last month.
    • Core prices (excluding food and energy) remained flat for the year ending in June.
      • "[The] CPI cooled to 3½ percent."
        – Casola, 00:11
    • Compared to May, annual inflation is down from 4.2% to 3.5%.
      – Dave Anthony, 00:27

• Drivers of the Change:

  • Crude oil prices fell in June, but have since risen, suggesting possible short-lived relief.
    • "Since June, crude oil prices have moved higher, which is likely to impact more recent inflation readings."
      – Casola, 00:31

• Expert Commentary:

  • Kevin Hassett, White House Economic Council Director:

    • "Last month we see food prices doing a great job. Tomato prices down 10%, you know, across the board. Drug prices the biggest decline in drug prices ever all the way back to World War II because of President Trump's policies to make America the most favored nation."
      – Kevin Hassett, 02:26

  • Energy prices are again rising due to renewed US-Iran conflict:

    • "Oil up another 2 plus percent today. WTI back at $80 a barrel. Last week it was 68."
      – Dave Anthony, 02:43
    • Gas prices rise to $3.85/gal national average, up 6 cents in one week.

  • Stock Market Update:

    • Dow up 111 points, Nasdaq up 17 points in early trading.
    • IBM drops by over 20% after earnings report highlights shift from software spending to AI infrastructure.

Memorable Moments:

• Kevin Hassett highlights the biggest drop in drug prices since WWII, crediting policy changes. (02:26)

Timestamps:

• 00:03 – 00:27: Inflation news and breakdown
• 02:17 – 02:43: Kevin Hassett’s analysis and commodity price updates

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Capitol Hill: Supreme Court & Federal Reserve

Key Points:

• Supreme Court Testimony & Security:

  • Justices Elena Kagan and Amy Coney Barrett request over $200 million for next year’s budget, significantly increased to fund additional security measures.
    • Each justice could receive six more security agents.
    • Amy Coney Barrett recently experienced a swatting attack—a fake 911 call leading to armed police response.
      • "Justice Amy Coney Barrett herself was the victim of a swatting attack back in May ... only manufactured chaos."
        – Mark Meredith, 00:53

• Other Congressional News:

  • Justices to testify in both House and Senate.
  • Lindsey Graham’s sister, Darlene, to be sworn in to replace him after his death, completing his term that ends January.

Timestamps:

• 00:39 – 01:21: Federal Reserve and Supreme Court coverage

Memorable Quotes:

• "Majority of this new money would likely be going to with the additional Supreme Court justices expected to get an additional six agents each."
  – Mark Meredith, 00:53

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Overseas: US–Iran Tensions Escalate

Key Points:

• Military Developments:

  • US reinstates blockade around Iran’s ports, aiming to control Strait of Hormuz and charge ships for security amidst a new spike in hostilities.

    • "President Trump vowed to control the Strait of Hormuz and charge ships for security after third straight day of American strikes on Iran."
      – Dave Anthony, 01:21

  • US Military Strikes:

    • Strikes on Iranian coastal surveillance, drones, and missile sites.

  • Iran Strikes Back:

    • Iran retaliates with attacks on Bahrain, Jordan, and two UAE-linked tankers.
    • One mariner killed, eight wounded.

Memorable Quotes:

• "The US Military Central Command says targets included Iranian coastal surveillance sites, plus drone and missile systems. Iran's responded with attacks on Bahrain, Jordan and two tankers linked to the United Arab Emirates. One Mariner was killed and eight others wounded."
  – Jonathan Savage, 01:41

Timestamps:

• 01:21 – 01:57: Middle East conflict coverage

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Technology & Regulation: New York Halts Data Centers

Key Points:

• AI Infrastructure Pushback:
  • New York is first state to pause new large data center construction for up to one year.
    • Executive order aims to give state time to develop regulations protecting environment and energy grid.
    • Initiative comes as tech companies rapidly expand AI infrastructure, prompting concerns about power, water, and local impact.
      • "Governor Kathy Hochul's office saying the executive order will give the state time to create regulations for data centers that help the environment and energy grid."
        – Lillian Woo, 03:30

Timestamps:

• 03:30 – 04:01: Data centers and AI regulation segment

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Other Headlines

• Baseball:
  • All-Star Game set for tonight.
  • Jordan Walker wins Home Run Derby.
    – Dave Anthony, 04:01

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Selected Notable Quotes with Timestamps

• On drug prices:

  • "Drug prices [saw] the biggest decline in drug prices ever all the way back to World War II ..."
    – Kevin Hassett, 02:26

• On swatting against Supreme Court justices:

  • "That's when someone calls 911 claiming an emergency, potentially sending the SWAT team to your house. But of course, there's no crisis, only manufactured chaos."
    – Mark Meredith, 00:53

• On New York's AI pause:

  • "Tech companies are racing to build new centers amid growing concerns the facilities driving AI boom are raising power costs, straining water supplies and burdening local communities."
    – Lillian Woo, 03:30

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Summary Table of Key Segments

| Timestamp | Topic | Speaker | Key Point | |---------------|----------------------------------------|-------------------|----------------------------------------------| | 00:03–00:27 | Inflation/CPI | Anthony, Casola | June inflation drops, core stable, oil rising| | 00:39–01:21 | Supreme Court & Fed Testimonies | Anthony, Meredith | Security funding, swatting, new Fed chair | | 01:21–01:57 | US–Iran Hostilities | Anthony, Savage | Blockade, US/Iran strikes, regional attacks | | 02:17–02:43 | Economic Analysis & Market Update | Anthony, Hassett | Drug price drop, oil/gas up, markets mixed | | 03:30–04:01 | AI/Data Center Regulation | Woo | NY state pauses new large data centers | | 04:01 | Sports | Anthony | Home Run Derby result, All-Star Game preview |

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Episode captures a quickly evolving news landscape, balancing macroeconomic trends with hard-hitting geopolitical, judicial, and tech industry developments.

Transcript

[Dave Anthony]

Prices are going down. For now, I'm Dave Anthony. FOX NEWS an inflation report out this morning shows a decline last month.

[Casola]

The drop in energy prices last month had a big impact on inflation. The consumer price index for June declined 4/10 of a percent excluding food and energy. Core prices were unchanged for the year ending in June. The CPI cooled to 3 1/2 percent.

[Dave Anthony]

That is down from 4.2% annual inflation rate in May. But FOX is unique.

[Casola]

Casola also reports since June crude oil prices have moved higher, which is likely to impact more recent inflation readings.

[Dave Anthony]

And Kevin, war shall be asked about that and interest rates when the new Federal Reserve chairman testifies at the House in a few minutes. And fox's Mark Meredith reports from the Capitol. Another House hearing starting now. We'll have two Supreme Court justices testifying, Elena Kagan and Amy Coney Barrett.

[Mark Meredith]

The Supreme Court asking lawmakers for more than $200 million for the next fiscal year. That is an increase from the year prior. Majority of this new money would likely be going to with the additional Supreme Court justices expected to get an additional six agents each. Justice Amy Coney Barrett herself was the victim of a swatting attack back in May. That's when someone calls 911 claiming an emergency, potentially sending the SWAT team to your house. But of course, there's no crisis, only manufactured chaos.

[Dave Anthony]

Justices Kagan and Barrett will also testify at the Senate this afternoon around the same time that Lindsey Graham's sister Darlene will be sworn in to replace her late brother who died Saturday, finishing the Republican's term that ends in January. A blockade around Iran's ports goes back into effect this afternoon as President Trump found to control the Strait of Hormuz and charge ships for security after third straight day of American strikes on Iran.

[Jonathan Savage]

The United States Military Central Command says targets included Iranian coastal surveillance sites, plus drone and missile systems. Iran's responded with attacks on Bahrain, Jordan and two tankers linked to the United Arab Emirates. One Mariner was killed and eight others wounded.

[Dave Anthony]

Jonathan Savage, America's listening to Fox News.

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[Dave Anthony]

We mentioned the inflation decline in June, down 4.10of a percent from May. Kevin Hassett, the White House Economic Council director, tells Fox it's not just cheaper oil and gas.

[Kevin Hassett]

Last month we see food prices doing a great job. Tomato prices down 10%, you know, across the board. Drug prices the biggest decline in drug prices ever all the way back to World War II because of President Trump's policies to make America the most favored nation.

[Dave Anthony]

Now oil prices are rising back up after the US and Iran fighting flared. Back up. Oil up another 2 plus percent today. WTI back at $80 a barrel. Last week it was 68. Gas also costs more. This week it is AAA national average for regular $3.85 a gallon, 6 cents higher than last Tuesday. And on Wall street, there are gains. So far this morning we are seeing The Dow up 111 points. The Nasdaq up one, adding 17 points. But one big name stock is dropping big time. IBM plunging more than 20% after an earnings report that suggests companies are spending less on software for artificial intelligence and more on AI infrastructure and data centers. And speaking of those, a Democratic governor taketh action.

[Lillian Woo]

New York becomes the first state to halt the construction of large data centers for up to a year, placing it at the forefront of a growing national debate and pushback against the artificial intelligence surge. Governor Kathy Hoch local's office saying the executive order will give the state time to create regulations for data centers that help the environment and energy grid. Tech companies are racing to build new centers amid growing concerns the facilities driving AI boom are raising power costs, straining water supplies and burdening local communities.

[Dave Anthony]

That's fox's Lillian Woo in Philadelphia. Tonight, baseball's All Stars will shine. The All Star Game. Last night, Jordan Walker won the Home Run Derby. I'm Dave Anthony and this is fox.