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Shelter costs drive U.S. July inflation
The U.S. from a year ago in July, slightly less than expected — a sign that inflation has lost at least some of its grip on the U.S. economy. Almost all of the monthly inflation increase came from shelter costs, which rose 0.4% and were up 7.7% from a year ago. Prices accelerated a seasonally adjusted 0.2% for the month, in line with the Dow Jones estimate, Thursday. Here's the inflation breakdown for July, in . Markets reacted favorably, expecting July's tame inflation reading to mean from the Federal Reserve.

Asian markets have somber finish to the week
Asian shares are poised to end the week on a weak note, with all major benchmarks on the day — extending weakness overnight in U.S. markets. Japan markets were shut for the Mountain Day public holiday on Friday. Hong Kong's shed 0.6%, as a sell-off in Chinese real estate developer counters deepened. On Thursday, the blue chip , and all closed higher, but notably .

What does Biden's order mean for U.S. investors in China?
U.S. President on Wednesday aimed at restricting U.S. investments into Chinese semiconductor, quantum computing and artificial intelligence companies due to national security concerns. While the Biden administration has set out some perimeters of its intended goals, its 45-day public comment period gives U.S. investors significant potential to influence any final regulation.

Fires and hurricanes
Hawaii is burning. Biden on Thursday , vowing immediate assistance for Maui residents who have lost loved ones and their homes in devastating wildfires. have died so far. The fires are the worst natural disaster to hit Hawaii in recent memory, but they're not likely the last for the U.S. this year. scientists on Thursday that this year will be an above-normal Atlantic hurricane season to 60% because of record hot ocean temperatures.

[PRO] Buy Nvidia?
Investors may want to consider using the recent weakness in chipmaker to of the artificial intelligence darling, some Wall Street analysts are saying.

beckons for American private equity and venture capitalists.

President Joe Biden finally dropped his long-awaited executive order late Wednesday, curbing fresh U.S. technology investment in China — it's the the U.S. government is imposing restrictions on how U.S. capital flows out of the country, according to , co-head of the national security practice at private equity advisory firm Capstone.

And more could be in store, given the priority on national interest and security.

Biden's order specifically targets new U.S. investment and transfer of expertise in semiconductors and microelectronics, quantum computing, and certain AI capabilities in China, Hong Kong and Macao.

The U.S. Treasury Department is still in the process of before the measure can be fully enforced, maybe sometime next year.

But it's a clear signal that the world's second-largest economy is no longer a clear-cut option for American capital.

As it stands, U.S. firms have generally held back from investing in China in the past few years due to a weakening growth environment and the fraught prevailing geopolitical environment.

That's bad news for Beijing, which needs foreign capital and technological transfers to bolster sagging growth momentum and elevate its economy up the value chain.

There are other ways to accomplish that, but Biden's executive order just made things more difficult for some. More ingenuity lies in store.