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The United States military launched a "heavy wave" of retaliatory strikes against Iran on Thursday, July 30, following Iranian missile attacks on US bases in Jordan a day earlier. US Central Command stated the strikes were a powerful response aimed at diminishing threats posed by Iran and its proxies. Iranian media reported at least three civilians, including a couple and their two-year-old child, were killed in the latest US attacks on Qeshm Island.

Russia launched a barrage of missiles towards Kyiv and other Ukrainian cities early Thursday, hours after President Volodymyr Zelenskyy warned of an impending "massive attack." Ukraine's air force reported "several waves" of cruise missiles, leading to residents sheltering in metro stations. Poland proactively scrambled fighter jets to protect its airspace from the strikes.

Rural communities in southwestern Japan are struggling after a powerful earthquake two days prior, which has now claimed at least 23 lives. The quake, with its epicenter in Hikawa, Kumamoto Prefecture, caused an explosion at a mall, toppled a factory chimney, and flattened homes. Nearly 23,000 homes remain without electricity, and concerns are growing about illness due to the sweltering heat.

The Federal Reserve, under Chairman Kevin Warsh, decided to keep interest rates steady on Wednesday, despite calls for cuts. The decision was made with a 9:3 majority, with three members dissenting in favor of a rate hike, highlighting internal division. The Fed reaffirmed its commitment to bringing inflation down to 2%, noting that oil price increases due to the Iran conflict have boosted inflation.

Microsoft announced robust second-quarter results, with revenue reaching $90.0 billion, an 18% increase year-over-year, driven by strong cloud and AI performance. Azure revenue surpassed $100 billion for the first time. In contrast, Meta Platforms reported a revenue increase of 28% to $60.80 billion, but income from operations decreased by 8% and diluted EPS fell by 13%, causing its stock to stumble as investors demand clearer answers on AI spending.