2AM ET 07/28/2025 Newscast

Summary

Fox News Hourly Update: 2AM ET 07/28/2025 Newscast – Detailed Summary

Release Date: July 28, 2025
Host: Sue Guzman
Source: FOX News Podcasts

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I. International Trade Relations

Trade Deal Between the U.S. and EU

Sue Guzman opened the newscast by highlighting the recent trade agreement between the United States and the European Union, signaling the avoidance of a prolonged trade war.

• President Trump's Stance:
  Grinnell Scott reported, “President Trump said the United States will bring in revenue from the deal, imposing a 15% tariff on EU goods coming into America and the Europeans buying additional goods from the U.S. when EU President Ursula von der Leyen was asked what the U.S. was giving up in return, she said a fair exchange was her first priority” (00:15).

• EU’s Commitment:
  Ursula von der Leyen emphasized the mutual benefits of the deal, stating, “Rebalance but enable trade on both sides, which means good jobs on both sides of the Atlantic means prosperity on both sides of the Atlantic, and that was important for us” (00:35).

• Economic Investments:
  Additionally, the EU plans to invest $750 billion in U.S. energy sectors, ensuring continued access to U.S. markets (00:46).

II. Domestic Incidents

A. Kansas City Family Dollar Store Collapse

Tragedy struck in Kansas City, Missouri, when the roof of a Family Dollar store partially collapsed.

• Casualties and Response:
  “A 68-year-old man was pronounced dead at the scene. Three others were injured in the collapse, including a 50-year-old woman who is said to be hospitalized in critical condition. Officials are trying to determine the cause of the collapse” (00:56).

B. Traverse City Walmart Mass Stabbing

Late Saturday, a mass stabbing occurred at a Walmart in Traverse City, Michigan.

• Charges Against Suspect:
  Charges are expected soon against Bradford Gilly, the suspect responsible for the attack. Police reported that Gilly attacked shoppers at random until bystanders intervened. He is anticipated to face terrorism and assault with intent to kill charges upon his arraignment this week (02:32).

• Medical Updates:
  Dr. Tom Schermerhorn provided updates on the injured, stating, “I'm happy to report one patient has been treated and released. Now we have 10 remaining patients, two who remain in serious position, serious condition and the others have progressed to fair condition” (02:46).

III. Economic Updates

A. Steady Gas Prices

Gas prices in the U.S. have remained stable over recent weeks, with the national average holding at $3.22 per gallon.

• Market Analysis:
  Analyst Trilby Lundberg commented, “It may be that we'll see some small declines from here. It'll depend as usual on exactly what crude oil prices do and upon the timing of how that crude oil price change, if any, will impact all of the marketers, distributors and retailers that refiners have to supply” (01:34).

B. Upcoming Economic Events

Fox’s Ashley Strohmeier outlined three significant events set to influence the U.S. economy this week:

1. International Monetary Fund (IMF) Update:
   The IMF is set to release its World Economic Outlook update, providing insights into global economic trends.

2. Federal Reserve Interest Rate Decision:
   On Wednesday, the Federal Reserve is expected to conclude its fifth interest rate meeting since President Trump’s return to office. Policymakers are anticipated to hold rates steady, a decision likely to attract criticism from President Trump, who has previously criticized Fed Chair Jerome Powell for not cutting rates (03:36).

3. Trade Deal Deadlines:
   Friday marks the deadline for dozens of countries to finalize trade agreements, a crucial factor for global economic stability (03:36).

Leadership Changes at the Federal Reserve

US Treasury Secretary Scott Bessen announced that President Trump will reveal his nominee to succeed Federal Reserve Chair Jerome Powell either in December or January (04:01).

IV. International Affairs

A. Gaza Humanitarian Efforts

The Israeli military has initiated an unlimited pause in fighting in parts of Gaza for 10 hours to facilitate humanitarian aid delivery. Reports indicate an increase in starvation-related deaths in the war-torn region.

• President Trump's Pledge:
  President Trump pledged additional aid for Gaza and urged the European Union to contribute similarly, aiming to alleviate the severe humanitarian crisis (03:01).

B. Houthi Threats Against Israeli Ports

The Iran-backed Houthi group in Yemen has issued a stark warning, stating they will attack any ships conducting business with Israeli ports, regardless of nationality. This declaration marks the group’s entry into what they describe as the fourth phase of military operations against Israel (04:01).

V. Advertisements

Note: Advertisements for LegalZoom and NetSuite were present in the transcript but have been excluded from this summary as per guidelines.

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This comprehensive update encapsulates the critical developments in international trade, domestic incidents, economic indicators, and international conflicts, providing listeners with a thorough understanding of the current news landscape as reported on July 28, 2025.

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Timestamps Reference:

• 00:02 to 04:29 – Transcript sections referenced in the summary.

Transcript

[Sue Guzman]

Trade war averted. Fox News. I'm Sue Guzman. The trade deal reached Sunday between the US And EU Showed what the priorities were for both sides in getting a deal done. We have more from Fox's Grinnell Scott.

[Grinnell Scott]

President Trump said the United States will bring in revenue from the deal, imposing a 15% tariff on EU goods coming into America and the Europeans buying additional goods from the U.S. when EU President Ursula von der Leyen was asked what the U.S. was giving up in return, she said a fair exchange was her first priority.

[Ursula von der Leyen]

Rebalance but enable trade on both sides, which means good jobs on both sides of the Atlantic means prosperity on both sides of the Atlantic, and that was important for us.

[Grinnell Scott]

Along with continued access to U.S. markets, the EU plans to spend $750 billion on U.S. energy. Grinal Scott, Fox News.

[Sue Guzman]

One person is dead, three injured after the roof of a Family Dollar store partially collapsed Sunday. Kansas City, Missouri Fire Department says the front facade of the building collapsed by the time they arrived. A 68 year old man was pronounced dead at the scene. Three others were injured in the collapse. They include a 50 year old woman who is said to be hospitalized in critical condition. Officials are trying to determine the cause of the collapse. The news continues to be good when it comes to gas prices in the US which have remained steady over the past few weeks. Lundberg survey says the national average has been unchanged at $3.22 a gallon.

[Trilby Lundberg]

It may be that we'll see some small declines from here. It'll depend as usual on exactly what crude oil prices do and upon the timing of how that crude oil price change, if any, will impact all of the marketers, distributors and retailers that refiners have to supply.

[Sue Guzman]

That's analyst Trilby Lundberg. America is listening to Fox News.

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[Sue Guzman]

Charges expected to be filed soon against Bradford Gilly. He's the suspect in Saturday's mass stabbing at a Walmart in Traverse City, Michigan. Dr. Tom Schermerhorn, the chief medical officer at Monson Medical center with more on the 11 wounded.

[Dr. Tom Schermerhorn]

I'm happy to report one patient has been treated and released. Now we have 10 remaining patients, two who remain in serious position, serious condition and the others have progressed to fair condition.

[Sue Guzman]

Police say Gilly attacked shoppers at random until bystanders stopped him. He is expected to face terrorism and assault with intent to kill charges when he's arraigned this week. The Israeli military has begun unlimited pause in fighting in parts of Gaza for 10 hours. His efforts to safely bring in humanitarian aid are ramping up. Submitted reports of starvation deaths in the war torn region. President Trump on Sunday pledged more aid for Gaza and urged the European Union to do as well. Three major events that will affect the US Economy will be taking place this week. The latest about it from Fox's Ashley Strohmeier.

[Ashley Strohmeier]

International Monetary Fund will release its World Economic Outlook update. Then on Wednesday, the Federal Reserve is set to end its fifth interest rate meeting since President Trump came back to office. Policymakers are expected to hold rates steady. The decision is expected to draw criticism from President Trump who has slammed Fed Chair Jerome Powell over the Fed's refusal to cut rates. And then Friday is the deadline for dozens of countries to strike trade deals.

[Sue Guzman]

With the US Treasury Secretary Scott Bessen said President Trump will announce his pick to succeed Federal Reserve Chair Jerome Powell in December or January. And a warning from Iran backed Houthis. They say they'll attack any ships whose companies do business with Israeli ports no matter what their nationality. The Yemen based terrorist group says it's entering what it's calling the fourth phase of military operations against the Jewish state. I'm Sue Guzman. This is Fox News.

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