How the Surge in Listings Threatens Historic Stock Rally

SPEAKER_1 (0:00)

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Daniel Bach (0:33)

President Trump mulls a further escalation of the war in Iran. Plus, the US slaps 25% tariffs on Brazil, but leaves out beef and coffee.

And is the recent surge in stock listings a sign of a market downturn?

Gregory Zuckerman (0:47)

This whole market is getting a little old in the tooth. Are we getting to the point where there's a little too much exuberance and some point to these I.P.O.s and stock sales as a sign of that?

Daniel Bach (1:00)

It's Thursday, July 16th. I'm Daniel Bach for The Wall Street Journal, filling in for Luke Vargas. And here is the AM Edition of What's News, the top headlines and business stories moving your world today.

US officials say President Trump is leaning toward expanding US military operations in Iran after days of briefings on the options from top aides. That could include more airstrikes, targeting the fortified tunnel complex at nuclear site Pickaxe Mountain, or sending in ground troops to seize Iranian islands near the Strait of Hormuz. Here he was speaking yesterday at the US. Army War College in Pennsylvania.

Donald Trump (1:42)

And we, they want to settle so badly, they don't like what we're doing, and they do want to settle. We'll find out whether or not we settle with them or we just finish it off.

Daniel Bach (1:52)

Trump has ordered heavy waves of strikes along Iran's southern coastline in recent days after diplomacy failed to crack open the Strait, which has been at a virtual standstill. Iran has ramped up cruise missile and drone attacks on commercial vessels, which have been some of the deadliest for shippers since the early days of the conflict. Military experts say opening the Strait would require thousands more troops and months of effort. But some US officials say Trump is reluctant to commit ground forces.

Well as Pete Hegseth continues to revamp the country's military, the Defense Secretary said the Pentagon will begin screening troops for testosterone deficiency. Hegseth said service members over the age of 30 would be tested as part of their annual health assessments, and can then decide if they want to receive testosterone replacement therapy if the treatment is recommended. In a post on X titled High Tea Department of War, Hegseth said the aim was to keep soldiers on the leading edge of lethality.

Pete Hegseth (2:49)

While we invest heavily in our weapon systems, platforms, and gear, our most decisive tactical advantage will always be the individual warfighter. We have a sacred duty to maintain that advantage, which is why we must constantly look for new ways to optimize your performance, your resilience, and your long-term health.

Daniel Bach (3:11)

Both men and women produce testosterone. It helps men grow hair and muscle, and helps support female energy levels and bone strength. Dropping levels with age can lower muscle mass and sexual function, especially in men. Hegseth didn't say which testosterone levels would require treatment or specify if there would be separate standards for women. The Pentagon declined to comment.

More than 100 House Democrats broke ranks to support a measure to cut $3 billion in military financing to Israel. While the amendment failed, with 314 lawmakers voting against it, the vote highlights a growing rift within the party over the war in Gaza.

Recent polling also shows more Americans now sympathize with Palestinians over Israel, a stark turnaround from years past. Meanwhile, Vice President JD. Vance has accused elements of the Israeli government of being behind a campaign to shape US public opinion about the war with Iran and undermine peace negotiations. Speaking on Joe Rogan's podcast, Vance said some in Israel want the war to continue indefinitely and referred to an article suggesting Israel has used some of the money earmarked to drum up support for the war and improve its image abroad to pay American influencers to attack him.

JD Vance (4:24)

People are always going to try to influence the United States of America, whether they're allies of ours or whether they're enemies of ours.

But again, when I open up the pages of Time magazine and I see that there's a literal foreign influence campaign being funded to tank the very deal that I was pursuing. And oh, by the way, many of the people who were receiving that money were actually attacking me in completely dishonest ways. You know, my response to that is, well, go to hell. I'm going to do what I have to do for the American people. I represent Americans first.