Good morning. It looks like a good day for investors, bankers and maybe even astronauts. Stocks are moving higher again. Wall Street looks set for another year of bumper bonuses. And why NASA wants to go nuclear. Listen to the day’s top stories.

Stocks continue to power higher, with equity futures advancing on rate cut hopes and robust company earnings. Still, Jefferies thinks it might be wise to rotate out of high-flying tech stocks and into smaller-cap shares. And for the select few, it’s time to start chilling the Champagne—investment bankers, hedge-fund employees and asset-management staffers are set to see higher bonuses this year.

The US is exploring ways to install better location trackers in semiconductors, underscoring Washington’s effort to curtail the flow of chips made by the likes of Nvidia to China. Meanwhile, Taiwan’s TSMC—which makes semiconductors for Nvidia and Apple—discovered a possible leak of trade secrets related to its advanced chipmaking techniques. There have been arrests.

Coming to America. Japan’s lead trade negotiator is heading to the US to seek lower tariffs on his country’s cars, and Switzerland’s top politicians are also en route to try to reduce the levy Donald Trump imposed on Swiss exports. US customs officials explained how they’ll handle any exemptions to all the tariffs. Meanwhile, top aides for Narendra Modi will travel to Moscow—shortly after Trump railed at India’s purchases of Russian oil.

Palantir shares rose premarket after the tech firm reported a 48% surge in revenues, citing the “astonishing impact” of AI on its business. Elsewhere, BP upped its cost-cutting targets, which may please activist investor and critic of the UK oil major, Elliott Investment Management. And there was good news for whiskey drinkers from Johnnie Walker-maker Diageo: It said that post-tariff price increases for its brands aren’t inevitable.

Greg Abbott Photographer: Jacquelyn Martin/AP

Texas Governor Greg Abbott ordered the arrest of Democratic lawmakers who fled the state to block a controversial vote on new congressional maps. And a new spin on the national spectacle unfolding in Texas: California Democrats are planning to “fight fire with fire” by pushing a plan to redraw their own congressional districts— but only if Texas approves its map changes.

Bloomberg Power Players New York: Set against the backdrop of the US Open Tennis Championships, we'll bring together influential voices from the business of sports to identify the next wave of disruption that could hit this multitrillion-dollar global industry. Join us on Sept. 4. Learn more.

Deep Dive: Iran’s Uranium Stash

Building damage across the Isfahan nuclear technology center in Iran on June 22. Photographer: Maxar Technologies/Getty Images

What’s the world going to do about Iran’s stash of nuclear fuel? Here’s a set of scenarios the US and the International Atomic Energy Agency might consider.

• At last count, Iran possessed 409 kg of near-bomb-grade material, along with 8,000 kg of uranium enriched to lower levels. The whereabouts of that stockpile hasn’t been verified since the US and Israel attacked the country’s nuclear facilities.
• Trump claimed that Iran’s nuclear sites were “totally obliterated” by US bombing, and disputed a Pentagon assessment that the June 22 attack likely didn’t cripple the core components of the program below ground, including the centrifuges.
• For those concerned about Iran becoming a nuclear-armed state, it’s essential to understand what’s become of its inventory of atomic fuel. Here’s our explainer.

The Big Take

A Ukrainian tank crew fires a round from a Leopard 2A4 tank during a training exercise. Photographer: Genya Savilov/AFP/Getty Images

Armin Papperger runs a German defense company arming Ukraine. The efforts have brought the weapons supplier unprecedented riches, and put a target on his back.

Opinion

Kiaraliz Irizarry recruits people during a job fair in Florida on April 30. Photographer: Joe Raedle/Getty Images North America

The jobs market is showing signs of a ‘He-cession,’ Allison Schrager writes. Many men, even in the prime of their lives, aren’t working. And going to college is no longer an automatic way to improve your job prospects.

Before You Go

Photographer:  Bay Ismoyo/AFP/Getty Images

NASA plans to speed up the construction of a nuclear reactor that could be used on the moon. As well as generating power, it could help with designs for a possible future powerplant on Mars.