Loading summary

Transcript14 lines

[00:03]
Dave Anthony
Stocks surge as oil plunges. I'm Dave Anthony, FOX News. The Dow up 632 points. The Nasdaq's gaining more than 300 as oil drops more than 7%. West Texas crude under 79 bucks a barrel after President Trump chose talks over bombs calling off a big weekend attack on Iran, telling reporters on Air Force
[00:24]
Donald Trump
One, just see how it is. We're ready to go anytime we want. Would I rather make a deal? I'm not looking to kill.
[00:32]
Alexandria Hoff
The president said that he had paused what would have been the biggest strike Since World War II after speaking with regional allies like Saudi Arabia and Qatar. The president citing what he calls the parameters of a deal having been made to end the nuclear threat, as he called it, from Iran, and open the Strait of Hormuz.
[00:48]
Dave Anthony
Fox's Alexandria Hoff also reports from the White House.
[00:51]
Alexandria Hoff
Iran's foreign ministry this morning saying that the country is not currently holding talks with the US but is in discussions with Oman over the strait.
[00:59]
Dave Anthony
Three wildfires still burning uncontained in the Spokane, Washington area where about 60,000 people have evacuated. Some have no homes to return to. Fox's Sarah Allegra standing outside the charred ashes of where a house once stood in Spokane.
[01:11]
Sarah Allegra
What makes these fires so concerning here in the area is how close this has all been to homes, to neighborhoods, to businesses. And this is what we're seeing here, guys. Latest reporting tells us over 600 structures have been destroyed.
[01:25]
Dave Anthony
There are no reports of anyone killed or injured. Acting Attorney General Todd Blanch may now have a path to that job fold. Last night, Blanche formally rescinded the so called anti weaponization fund like two Republican senators were calling for. It was set up in the Trump IRS tax settlement for people claiming to be political targets of the Biden Justice Department.
[01:42]
Sarah Allegra
The move follows weeks of negotiations with Texas Senator John Cornyn and North Carolina Senator Thom Tillis who were previously trying to block his nomination and then demanding to see written proof of the fund would not move forward.
[01:55]
Dave Anthony
FOX is Ashley Stromar. There's a key Senate committee vote on Blanche tomorrow. America's listening to FOX News again. On Wall Street, a big jump up for the Dow to start August surging 725 points now, the NASDAQ up 294. The S&P 500 adding 72 points as the plunge in oil prices have WTI back to under 79 bucks a barrel. Brent crude down to about 82. But Chevron CEO Mike Wirth tells FOX BUSINESS this morning Strait of Hormuz attacks have damaged infrastructure and led to higher shipping costs. And there's another issue if the fighting flares back up.
[02:29]
Mike Wirth
The inventories around the world have been drawn down. Some of the buffers that have bought US time and allowed markets not to increase the way some feared that they might. Those buffers are greatly diminished and the risks continue to present themselves at the gas pump.
[02:46]
Dave Anthony
No change today. AAA's national average for regular remains $4.09 per gallon. That's 2 cents less than last Monday. Well over a dollar higher though than before the Iran conflict. There is soccer news this morning. Just weeks after the World cup, the US Coach is going to keep coaching the men's team.
[03:01]
Tony Genu
The US Soccer Federation is signing Pochettino to a four year contract extension, locking in Pochettino as head coach of the U S Men's national team through 2030. Pochettino joined the U S squad back in September of 2024 and was at the helm for their recent run at the FIFA World cup which saw the Americans win more games than at any previous World cup tournament. This new contract will set up Pochettino for his first full cycle with the team competing in the 2027 and 2029 CONCACAF Nations League and CONCACAF Gold cup as well as qualifying for the 2030 FIF. Tony Genu, Aldo Fox News More baseball
[03:39]
Dave Anthony
players will switch teams today, the major league trade deadline just under eight hours away. The latest deal reportedly as the Giants sending infielder Luis Arise to the Phillies, a three time batting champ. Arise again leads the National League in batting average this season. The biggest deal so far the Tigers sending star pitcher Tarik Skubal to the Dodgers. I'm Dave Anthony and this is Fox News.

Summary4 min read

Fox News Hourly Update: "Stocks Surge as Oil Plunges" (August 3, 2026)

Episode Overview

This FOX News hourly update delivers the latest financial, political, and breaking news highlights, focusing on a dramatic surge in the stock market, a historic plunge in oil prices, major geopolitical moves regarding Iran, wildfire devastation in Washington, shifts in US government affairs, and headline sports stories.

Key Discussion Points & Insights

1. Market Reaction to Middle East Developments

Stock Market Rally:
- Dow: Up 632 points (later reported 725 points)
- Nasdaq: Gained over 300 points
- S&P 500: Up 72 points
- Surge attributed to falling oil prices following US-Iran news
- Oil Prices:
  - West Texas Intermediate (WTI) fell over 7%, under $79/barrel
  - Brent crude down to about $82/barrel
Geopolitical Context:
- President Trump called off a major attack on Iran, opting for diplomatic talks instead.
- Quote – Donald Trump (00:24):
  
  "Would I rather make a deal? I'm not looking to kill."
- Trump emphasized parameters of a potential deal to end Iran's nuclear threat and reopen the Strait of Hormuz.
- Iran’s Position:
  - Not in active talks with the US, but discussing the strait issue with Oman.
Oil Market Risks & Comments:
- Damage to infrastructure and rising shipping costs after Strait of Hormuz attacks.
- Chevron CEO Mike Wirth (02:29):
  
  "The inventories around the world have been drawn down...the risks continue to present themselves at the gas pump."
Gas Prices:
- No daily change; national average for regular is $4.09 per gallon, still elevated due to the Iran conflict.

2. Domestic and International News Updates

Wildfires in Washington State

Situation: Three uncontained wildfires near Spokane, WA
Evacuations: About 60,000 people
Destruction: Over 600 structures destroyed
Casualties: No reported deaths or injuries
Quote – Sarah Allegra (01:11):

"What makes these fires so concerning here in the area is how close this has all been to homes, to neighborhoods, to businesses...over 600 structures have been destroyed."

3. Political Developments

Acting Attorney General Nominee:
- Todd Blanch may advance after rescinding the controversial "anti-weaponization" fund.
- Previous roadblocks from Republican Senators Cornyn and Tillis over concerns about the fund have eased.
- Senate committee vote expected.
- Background: The fund was related to Trump IRS settlements for alleged political targeting by the Biden DOJ.
- Reporting – Sarah Allegra (01:41):
  
  "The move follows weeks of negotiations...demanding to see written proof the fund would not move forward."

4. Sports Headlines

Soccer

Major Announcement:
- US Men's National Team Coach Mauricio Pochettino receives a four-year extension, securing his position through 2030.
- Pochettino’s leadership credited for best-ever World Cup performance by the US.
- Upcoming cycles include the 2027 and 2029 CONCACAF tournaments and the 2030 World Cup.
Quote – Tony Genu (03:01):

"The US Soccer Federation is signing Pochettino to a four year contract extension, locking in Pochettino as head coach of the U S Men's national team through 2030."

Baseball (MLB)

Trade Deadline:
- Under eight hours remaining.
- Key moves:
  - Giants send infielder Luis Arise (3-time batting champ, current NL leader) to Phillies.
  - Tigers trade star pitcher Tarik Skubal to the Dodgers.

Memorable Quotes & Timestamps

Donald Trump (00:24):

"Would I rather make a deal? I'm not looking to kill."
Sarah Allegra (01:11):

"What makes these fires so concerning here in the area is how close this has all been to homes..."
Mike Wirth, Chevron CEO (02:29):

"The inventories around the world have been drawn down...those buffers are greatly diminished and the risks continue to present themselves at the gas pump."
Tony Genu (03:01):

"The US Soccer Federation is signing Pochettino to a four year contract extension..."

Important Segments & Timestamps

[00:03] Financial Markets & Oil Prices
[00:24] President Trump on Iran Strategy
[00:50] Iran’s Diplomatic Status
[00:58] Spokane Wildfires Update
[01:24] Political News: Acting Attorney General Nomination
[02:29] Chevron CEO on Oil Market Risks
[03:01] US Soccer Coach Contract Extension
[03:39] MLB Trade Deadline Moves

Summary:
This episode provides rapid, wide-ranging news with the stock market’s bullish reaction to eased Iran tensions, critical wildfire destruction in Washington, a key move for the Attorney General's nomination process, insightful remarks from Chevron’s CEO on global oil risks, and game-changing developments in US sports. The tone is factual and direct, with occasional urgent inflections where stories are most pressing.

Loading summary

Transcript14 lines

[00:03]
Dave Anthony
Stocks surge as oil plunges. I'm Dave Anthony, FOX News. The Dow up 632 points. The Nasdaq's gaining more than 300 as oil drops more than 7%. West Texas crude under 79 bucks a barrel after President Trump chose talks over bombs calling off a big weekend attack on Iran, telling reporters on Air Force
[00:24]
Donald Trump
One, just see how it is. We're ready to go anytime we want. Would I rather make a deal? I'm not looking to kill.
[00:32]
Alexandria Hoff
The president said that he had paused what would have been the biggest strike Since World War II after speaking with regional allies like Saudi Arabia and Qatar. The president citing what he calls the parameters of a deal having been made to end the nuclear threat, as he called it, from Iran, and open the Strait of Hormuz.
[00:48]
Dave Anthony
Fox's Alexandria Hoff also reports from the White House.
[00:51]
Alexandria Hoff
Iran's foreign ministry this morning saying that the country is not currently holding talks with the US but is in discussions with Oman over the strait.
[00:59]
Dave Anthony
Three wildfires still burning uncontained in the Spokane, Washington area where about 60,000 people have evacuated. Some have no homes to return to. Fox's Sarah Allegra standing outside the charred ashes of where a house once stood in Spokane.
[01:11]
Sarah Allegra
What makes these fires so concerning here in the area is how close this has all been to homes, to neighborhoods, to businesses. And this is what we're seeing here, guys. Latest reporting tells us over 600 structures have been destroyed.
[01:25]
Dave Anthony
There are no reports of anyone killed or injured. Acting Attorney General Todd Blanch may now have a path to that job fold. Last night, Blanche formally rescinded the so called anti weaponization fund like two Republican senators were calling for. It was set up in the Trump IRS tax settlement for people claiming to be political targets of the Biden Justice Department.
[01:42]
Sarah Allegra
The move follows weeks of negotiations with Texas Senator John Cornyn and North Carolina Senator Thom Tillis who were previously trying to block his nomination and then demanding to see written proof of the fund would not move forward.
[01:55]
Dave Anthony
FOX is Ashley Stromar. There's a key Senate committee vote on Blanche tomorrow. America's listening to FOX News again. On Wall Street, a big jump up for the Dow to start August surging 725 points now, the NASDAQ up 294. The S&P 500 adding 72 points as the plunge in oil prices have WTI back to under 79 bucks a barrel. Brent crude down to about 82. But Chevron CEO Mike Wirth tells FOX BUSINESS this morning Strait of Hormuz attacks have damaged infrastructure and led to higher shipping costs. And there's another issue if the fighting flares back up.
[02:29]
Mike Wirth
The inventories around the world have been drawn down. Some of the buffers that have bought US time and allowed markets not to increase the way some feared that they might. Those buffers are greatly diminished and the risks continue to present themselves at the gas pump.
[02:46]
Dave Anthony
No change today. AAA's national average for regular remains $4.09 per gallon. That's 2 cents less than last Monday. Well over a dollar higher though than before the Iran conflict. There is soccer news this morning. Just weeks after the World cup, the US Coach is going to keep coaching the men's team.
[03:01]
Tony Genu
The US Soccer Federation is signing Pochettino to a four year contract extension, locking in Pochettino as head coach of the U S Men's national team through 2030. Pochettino joined the U S squad back in September of 2024 and was at the helm for their recent run at the FIFA World cup which saw the Americans win more games than at any previous World cup tournament. This new contract will set up Pochettino for his first full cycle with the team competing in the 2027 and 2029 CONCACAF Nations League and CONCACAF Gold cup as well as qualifying for the 2030 FIF. Tony Genu, Aldo Fox News More baseball
[03:39]
Dave Anthony
players will switch teams today, the major league trade deadline just under eight hours away. The latest deal reportedly as the Giants sending infielder Luis Arise to the Phillies, a three time batting champ. Arise again leads the National League in batting average this season. The biggest deal so far the Tigers sending star pitcher Tarik Skubal to the Dodgers. I'm Dave Anthony and this is Fox News.