Former US Ambassador to the UN Bill Richardson is reported to currently be at the center of back-channel US-Russia talks to free detained Americans Brittney Griner and Paul Whelan. Last week Griner was handed a stiff 9-year sentence after she pled guilty to violating Russian law by bringing cannabis vape cartridges into the country.

"I’m optimistic. I think she’s going to be free," Richardson told ABC’s This Week in a fresh interview. He revealed new information during the comments, saying that a "two-for-two" prisoner swap with Moscow is in the works.

Via Common Dreams,

The head of the International Atomic Energy Agency (IAEA) raised grave concerns on Saturday about the shelling the previous day at the Zaporizhzhia nuclear power plant in Ukraine, saying the action showed the risk of a nuclear disaster.

IAEA chief Rafael Mariano Grossi said he was "extremely concerned" by the attacks on Europe's largest nuclear power plant. These strikes threaten "the very real risk of a nuclear disaster that could threaten public health and the environment in Ukraine and beyond," Grossi said.

... we asked if Japan's SoftBank was the Bubble era's "short of the century" (and if, by extension, Masa Son was this generation's biggest financial charlatan).

Well, three years later, and one remarkable "bubble -bust" cycle later which has seen the stock go nowhere in three years despite having 16 buy ratings, 3 holds and 0 sells...

As Democrats pat themselves on the back after the Senate finally passed their massive tax, climate, and healthcare bill - the "Inflation Reduction Act" which Senate Majority Leader Chuck Schumer called "one of the most significant pieces of legislation passed in a decade," Bloomberg has compiled a list of winners and losers.

WINNERS:

The Wealthy

By Michael Msika, Bloomberg Markets live commentator and reporter

Investors’ fear of missing out is back, stoking a rally in equity markets that most strategists say has gone too far against a gloomy economic backdrop.

The Stoxx 600 has risen nearly 9% since hitting a 17-month low a month ago, though that doesn’t tell the full story of what has been a significant rebound for many cyclical sectors in a big turnaround from the first half. Tech is up 20%, automaker stocks have risen 16%, consumer and industrials each advanced about 15%.

Two weeks ago, ahead of the recent face-ripping, "most-hated rally" in tech stocks which has pushed the Nasdaq from the depths of a bear market in May to the verge of a 20%+ bull market last week, we said that with hedge funds positioned bearishly and getting steamrolled by the CTA, buyback and retail driven-rally, they will be forced to chase market upside.

First, we pointed out that amid all the recent preparations for a market crash, hedge funds forgot to "hedge" for a melt up, and as the Goldman Prime Brokerage chart below shows, positioning in the Info Tech sector weighting vs. SPX on the Goldman Prime hit a fresh 10-year low at the end of July....

Following the major flare-up in fighting between Israel and Palestinian Islamic Jihad (PIJ), which saw Israel launch days of airstrikes on Gaza starting Friday, a delicate ceasefire appears to be holding Monday.

"An Egypt-brokered ceasefire between Israel and Palestinian factions came into effect at 11:30pm local time (8:30pm GMT) on Sunday," Middle East Eye reports. "Israel’s assault on Gaza, which began on Friday, has left 44 Palestinians dead, including 15 children, and injured hundreds more."

Just as stocks were set to blast off right out of the gates as the "most hated rally" accelerates, moments ago investors got a cold shower after video chip giant Nvidia preannounced disappointing Q2 earnings more than 2 weeks early (originally scheduled for Aug 24), blaming the reverse bullwhip effect for taking $1.3 billion of charges "primarily for inventory" and slashing guidance due to "lower sell-in of Gaming products reflecting a reduction in channel partner sales likely due to macroeconomic headwinds" and "challenging market conditions that are expected to persist into the third quarter." The only good news: the company isn't trimming (or ending) its buybacks which will continue as scheduled.

Here are the details: