10AM ET 08/12/2025 Newscast

Summary

Fox News Hourly Update Episode: 10AM ET 08/12/2025 Newscast
Release Date: August 12, 2025
Host: FOX News Podcasts

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1. Wall Street and Economic Indicators

Timestamp: [00:02 – 02:16]

The morning session opened with a positive outlook on Wall Street. Dave Anthony reported, “The Dow is up 247 points. The NASDAQ hit a new all-time high this morning after a better than expected inflation update” (00:02). Jenny Casolo provided detailed insights into the Consumer Price Index (CPI), stating, “The consumer price index moderated in July, increasing a cooler 2.10% and remaining at 2.7% for the year ending in July” (00:15). This moderation was attributed to lower energy prices, which helped keep inflation in check despite concerns over potential tariff-induced price spikes.

Further elaborating on economic policies, Dave Anthony mentioned, “The tariffs on Chinese imports were supposed to surge back up to 145% this morning, but President Trump pushed that back in an executive order three months keeping the tariff at the current 30%” (00:25). Jared Halpern added context by explaining that the tariff extension aims to “allow more negotiations between US and Chinese officials on a broader trade deal” (00:42). President Trump chimed in, affirming, “They've been dealing quite nicely. The relationship is very good with President Xi and myself” (00:48).

As the segment continued, Dave Anthony updated on the stock market’s performance, noting, “The Dow is now up 311 points. The Nasdaq's rising 25, coming down a little bit from the all-time high it hit earlier this morning, the S&P 500 adding 19 points” (02:16). The price of oil saw a slight decrease, remaining below $64 a barrel, while gas prices experienced a minor uptick, with AAA’s national average for regular gas at $3.14 a gallon, which is two cents less than a week prior.

2. International Relations and Trade

Timestamp: [00:25 – 01:29]

The discussion shifted to international trade relations, particularly between the United States and China. President Trump announced a postponement of tariff increases, maintaining the current 30% tariff rate instead of the planned 145% (00:25). Jared Halpern highlighted the strategic intent behind this move, “The extension is intended to allow more negotiations between US and Chinese officials on a broader trade deal” (00:42).

Trump further emphasized the positive trajectory of US-China relations, stating, “They've been dealing quite nicely. The relationship is very good with President Xi and myself” (00:48). He also indicated the possibility of a meeting with Chinese President Xi Jinping later in the year, reinforcing the administration's commitment to strengthening bilateral ties (00:55).

In related international news, European leaders expressed concerns regarding the upcoming Trump-Putin summit in Alaska. They released a statement underscoring that “the path to peace cannot be decided without Ukraine” and noted that Ukraine’s leader would not be present at the meeting (00:59). The president responded by assuring that he would communicate with Ukrainian President Volodymyr Zelenskyy and EU leaders following the summit.

3. Domestic Incidents: Explosion at US Steel Plant

Timestamp: [01:29 – 01:59]

A significant incident was reported at the U.S. Steel Clairdon Coke Works factory near Pittsburgh, Pennsylvania. An explosion occurred the previous morning, resulting in two fatalities and injuring five others. Nate Foy provided a detailed account, explaining, “The U.S. steel Clairdon Coke Works factory is the largest facility in America that produces coke in steel making. Coke is coal baked into a fuel that turns iron ore into steel” (01:29).

County officials responded promptly, assuring the public that “there are no signs of toxic chemicals in the air” but advised residents within a mile radius to take precautionary measures: “stay inside, close all windows and doors, and set their HVAC systems to recirculate out of an abundance of caution” (01:29). The investigation into the cause of the explosion is ongoing, with authorities yet to determine the exact trigger (01:53).

4. Technology and Legal Battles: Elon Musk vs. Apple

Timestamp: [02:16 – 03:34]

In the technology sector, Elon Musk made headlines with his announcement of plans to sue Apple. Carmen Roberts reported, “Elon Musk says he plans to sue Apple for excluding his platforms X and its AI chatbot Grok from the App Store's must-have section” (02:51). Musk contended that “X is the number one news app in the world and Grok is, so they deserve to be in the must-haves” (02:51).

Through a series of posts on his platform X, Musk accused Apple of favoritism towards OpenAI, labeling it an antitrust violation. He declared that his AI company, XAI, “will take immediate legal action, adding, are you playing politics? What gives?” (02:51). This legal confrontation highlights ongoing tensions between major tech companies over platform inclusivity and competitive practices.

5. Education and Cultural Shifts: Renaming Schools

Timestamp: [03:34 – 04:06]

Shifting to education and cultural developments, John Saucier reported on a significant vote in Texas. “Midland Independent School District is planning a vote that could come as early as Tuesday on whether Legacy High School should be called Midland Lee, after Confederate General Robert E. Lee” (03:42). This potential renaming is part of a broader national trend moving away from memorializing Confederate figures, reflecting a cultural shift away from what many perceive as "wokeness."

Dave Anthony connected this event to previous initiatives, noting, “the renaming of schools and buildings from the Civil War era that's being reconsidered in the second Trump administration” (03:34). The school’s name change five years prior was part of Midland ISD’s participation in removing names and statues honoring Confederate leaders, a movement that gained momentum following the Black Lives Matter protests.

6. Brief Mentions

Timestamp: [04:13]

Towards the end of the broadcast, Jenny Casolo introduced Jimmy Falla to discuss political topics on "Fox Across America," and Dave Anthony briefly mentioned the University of Texas leading preseason polls in college football, though these segments were concise and served more as program promotions than in-depth news coverage.

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Conclusion

The Fox News Hourly Update on August 12, 2025, provided a comprehensive overview of current events ranging from economic indicators and international trade relations to domestic incidents and cultural shifts in education. Notable discussions included the positive movement in the stock market buoyed by moderated inflation rates, strategic adjustments in U.S.-China trade policies, ongoing investigations into industrial accidents, legal disputes in the tech industry, and significant changes in educational institution naming conventions reflecting broader societal changes. This detailed coverage ensures listeners are well-informed on critical national and international issues shaping the current landscape.

Transcript

[Dave Anthony]

The report is going over well on Wall Street. I'm Dave Anthony, FOX News. The dow is up 247points. The NASDAQ hit a new all time high this morning after a better than expected inflation update.

[Jenny Casolo]

The consumer price index moderated in July, increasing a cooler 2.10of a percent and remaining at 2.7% for the year ending in July.

[Dave Anthony]

That's Fox's Jenny Casolo. Now, lower energy prices helped keep inflation modest amid the worry about tariffs leading to overall spikes. The tariffs on Chinese imports were supposed to surge back up to 145% this morning, but President Trump pushed that back in an executive order three months keeping the tariff at the current 30%.

[Jared Halpern]

The extension is intended to allow more negotiations between US And Chinese officials on a broader trade deal.

[Donald Trump]

We'll see what happens. They've been dealing quite nicely. The relationship is very good with president, with President Xi and myself.

[Jared Halpern]

President Trump has said he could meet later this year with Chinese President Xi Jinping.

[Dave Anthony]

That's fox's Jared Halpern in the White House three days before the Trump Putin summit in Alaska. European leaders are concerned, putting out a statement this morning while they welcome the president trying to end Russian leader Vladimir Putin's war against Ukraine. The path to peace cannot be decided without Ukraine. Its leader will not be at the meeting. The president says he'll talk to Volodymyr Zelenskyy and EU leaders after the summit. Five people remain in critical condition the morning after the explosion at a US Steel plant near Pittsburgh, Pennsylvania, also injured five others and killed two workers.

[Nate Foy]

The U.S. steel Clairdon Coke Works factory is the largest facility in America that produces coke in steel making. Coke is coal baked into a fuel that turns iron ore into steel. County officials say there are no signs of toxic chemicals in the air, but they are warning people within a mile of the plant to stay inside, close all windows and doors and set their H Vac systems to recirculate out of an abundance of caution.

[Dave Anthony]

Fox's Nate Foy. They're still trying to determine what caused that explosion. America's listening to FOX News.

[Will Kane]

It's the Will Kane Show. Watch it live at noon Eastern Monday through Thursday on foxnews.com or on the Fox News YouTube channel. Miss a show? Get the podcast five days a week at foxnewspodcasts.com or wherever you download your favorite podcasts.

[Dave Anthony]

Well, back to the stock market's gains after that tamer than expected inflation report. The Dow is now up 311 points. The Nasdaq's rising 25, coming down a little bit from the all time high it hit earlier this morning, the S&P 500 adding 19 points. The price of oil down about a half dollar. It's further below 64 bucks a barrel. Gas is up a fraction AAA's national average for regular $3.14 a gallon 2 cents less than a week ago. Elon Musk has had quite the year from his much protested work at Doge, leading federal spending and job cuts to his post. Doge clashes with President Trump and now this.

[Carmen Roberts]

Elon Musk says he plans to sue Apple for excluding his platforms X and its AI chatbot Grok. From the App Store's must have section, he claims X is the number one news app in the world and Grok is so they deserve to be in the must haves. In a series of posts on X, Musk accused Apple of favoring OpenAI, claiming that is an antitrust violation so his AI company XAI, will take immediate legal action, adding, are you playing politics? What gives? Inquiring minds want to know. Carmen Roberts, Fox News Remember several years.

[Dave Anthony]

Ago the renaming of schools and buildings from the Civil War era that's being reconsidered in the second Trump administration. And listen to this from Texas.

[John Saucier]

Midland Independent School District is planning a vote that could come as early as Tuesday on whether Legacy High School should be called Midland Lee, after Confederate General Robert E. Lee. The move is seen as an example of the nation's cultural shift away from wokeness. The school's name was changed five years ago as Midland ISD participated in the movement to remove the names of buildings and statues honoring Confederate leaders following the Black Lives Matter protests.

[Dave Anthony]

John Saucier, Fox News University of Texas, the number one college football team in preseason polls. I'm Dave Anthony.

[Jenny Casolo]

This is Jimmy Falla inviting you to join me for Fox Across America, where we'll discuss every single one of the Democrats. Dumb ideas. Just kidding. It's only a three hour show. Listen live at noon Eastern or get the [e-mail].