Fox News Hourly Update – 4AM ET | July 28, 2025

Hosted by FOX News Podcasts

1. US-EU Trade Deal Reached

The episode opens with significant news on international trade. Sue Guzman reports that a trade war between the United States and the European Union has been averted following a recently brokered deal.

• Grinnell Scott elaborates on the agreements: “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.” (00:16)

• EU President Ursula von der Leyen emphasized mutual benefits: “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.” (00:37)

The EU has committed to investing $750 billion in U.S. energy projects and ensuring continued access to U.S. markets, signaling a strong collaborative stance moving forward (00:48).

2. Tragic Collapse in Kansas City

A devastating incident occurred in Kansas City, Missouri, where the roof of a Family Dollar store partially collapsed.

• Sue Guzman reports that one person was killed, and three others were injured, including a 50-year-old woman in critical condition (00:58).

Officials are currently investigating the cause of the collapse.

3. Heat Dome Grips Eastern United States

Extremely high temperatures continue to affect large portions of the eastern United States, with the region experiencing a severe heat dome.

• National Weather Service Meteorologist Frank Pereira describes the affected areas: “Those cover areas all the way from the upper Midwest, the Twin Cities, down to New Orleans and then back over to the Southeast, including all the way up into the Washington, D.C. area and up along even further to the north along the I95 corridor and into Boston.” (01:33)

However, Frank Pereira provides a note of relief: “Those high temperatures though, are expected to come down by the middle of the week.” (01:50)

4. Mass Stabbing in Traverse City, Michigan

A horrifying mass stabbing incident at a Walmart in Traverse City has left the community in shock.

• Sue Guzman details the aftermath: “Lisa Gilly attacked shoppers at random until bystanders stopped him. He's expected to face terrorism and assault with intent to kill charges when he's arraigned this week.” (03:36)

• Frank Pereira provides updates on the victims’ conditions: “I'm happy to report one patient has been treated and released. Now we have 10 remaining patients, two who remain in serious condition and the others have progressed to fair condition.” (03:21)

Authorities are moving forward with charges against Bradford Gilley, the suspect responsible for the attack.

5. Gaza Conflict and Geopolitical Tensions

Tensions remain high in Gaza as the Israeli military announces a temporary pause in offensive operations to facilitate humanitarian aid.

• Sue Guzman reports: “The Israeli military has begun a limited pause in fighting in parts of Gaza for 10 hours as efforts to safely bring in humanitarian aid ramp up. This is amid reports of starvation deaths in the war-torn region.” (03:36)

• President Trump has pledged increased aid to Gaza and has called on the European Union to follow suit (03:36).

Additionally, threats loom over international shipping:

• Sue Guzman states: “Iran backed Houthis say they will attack any ships whose companies do business with Israeli ports no matter what their nationality.” (04:35)

• The Yemen-based terrorist group has declared the initiation of the fourth phase of military operations against Israel (04:35).

6. Upcoming Economic Events Impacting the U.S.

Looking ahead, three major events are set to influence the U.S. economy this week.

• Ashley Strollmeyer outlines the key events:

  1. International Monetary Fund (IMF) World Economic Outlook Update: Scheduled for release, providing insights into global economic trends (04:10).

  2. Federal Reserve's Interest Rate Meeting: On Wednesday, the Fed is anticipated to hold interest rates steady after five consecutive hikes since President Trump’s return to office. This decision may attract criticism from President Trump, who has previously criticized Fed Chair Jerome Powell for not cutting rates (04:35).

  3. Trade Deals Deadline: Friday marks the deadline for dozens of countries to finalize trade agreements, a critical step in stabilizing international trade relations (04:35).

7. Leadership Transition at the Federal Reserve

In related economic updates, US Treasury Secretary Scott Bessen announced that President Trump will reveal his nominee to succeed Federal Reserve Chairman Jerome Powell soon, potentially by December or January. This move indicates a forthcoming leadership change within the Fed, which may influence future monetary policies (04:35).

This summary encapsulates the key discussions and insights from the Fox News Hourly Update aired on July 28, 2025. For comprehensive coverage, listeners are encouraged to tune into the full episode.

Timestamps Overview

• [00:02] – Introduction to US-EU Trade Deal
• [00:16] – Details on the Trade Agreement by Grinnell Scott
• [00:37] – Ursula von der Leyen’s Statement
• [00:48] – EU’s Energy Investment Plan
• [00:58] – Kansas City Building Collapse Incident
• [01:33] – Heat Dome Impact Overview by Frank Pereira
• [01:50] – Expected Relief from Heat Dome
• [03:08] – Transition to Incident Updates
• [03:21] – Victim Conditions Update
• [03:36] – Details on Traverse City Mass Stabbing and Gaza Situation
• [04:10] – Upcoming Economic Events by Ashley Strollmeyer
• [04:35] – Further Economic and Geopolitical Developments

For more detailed reporting and live updates, visit FOX News or listen to the full podcast episode.