United States

The U.S. successfully test fired a THAAD anti-ballistic missile system on Tuesday from Alaska that intercepted a target missile launched from an Air Force Cargo plane north of Hawaii, Fox news reported. The drill, which was scheduled in June, comes a week after North Korea successfully test-launched an intermediate, not intercontinental as it previously claimed, range ballistic missile capable of hitting Alaska. This was the 14th consecutive successful test of the THAAD, which has had a perfect record on each of the previous 13 intercepts.

“Silver’s Plunge Is Nearing Completion”

At least 16 people have died after a U.S. military plane crashed in rural Mississippi according to LeFlore County EMA Director Fred Randal. No official details were immediately available on the circumstances of the crash in northern Mississippi's LeFlore County, about 100 miles (160 km) north of Jackson, the state capital according to Reuters.

The US Marine Corps tweeted Monday that “a USMC KC-130 mishap occurred the evening of July 10. Further information will be released as available.”

U.S. index futures point slightly lower open. Asian shares rose while stocks in Europe fell as energy producers got caught in a downdraft in oil prices and reversed an earlier gain after Goldman unexpectedly warned that WTI could slide below $40 absent "show and awe" from OPEC. The dollar rose, hitting a four-month high against the yen and bonds and top emerging market currencies were back under pressure on Tuesday, following last week’s hawkish rhetoric from central bankers.

Goldman has done it again: less than two weeks after the bank said "oil prices have likely hit bottom of the price range, and look attractive" when it slashed its WTI price target from $55 to $47.50 (and every other Wall Street bank promptly followed), in a note released overnight by its analysts including Damien Courvalin and Jeffrey Currie, the central banker incubator has effectively thrown in the towel, and writes that while its 3 month base case price target remains$47.5, it warns that absent a "shock and awe" production cuts from OPEC, oil could tumble below $40/barrel