Trump Claims Hormuz Control, US CPI Data on Deck | The Opening Trade 8/12/2026

President Trump stated the US had "total control over the Hormuz Strait" during remarks to reporters at Joint Base Andrews on Tuesday evening, amid ongoing negotiations with Iran over the waterway. Trump said "We own it" and added "at some point, maybe they'll do something, and then they get blown away." US consumer price data for July is scheduled for release, with markets monitoring the figures for signs of inflation that could influence Federal Reserve interest rate decisions. Oil prices have risen, prompting concerns about further inflation. The 10-year Treasury yield remained relatively stable.

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