News when you want it with Bloomberg News now.

I'm Monica Rix.

Fireworks and celebrations

were held across the country last night to mark the nation's 250th anniversary.

President Trump had center stage

at the National Mall in Washington and took time to honor veterans

and our military while pushing politics, including the Save act.

All voters must provide a little thing

called proof of citizenship.

And there will be no mail in ballots

except for illness, disability, military deployment or travel.

The president's speech was delayed about two hours due to thunderstorms.

Extreme heat also forced major cities like New York, Pittsburgh and Boston

to shift their events, while some celebrations got scrapped altogether.

But cooler days are coming.

Meteorologist Craig Allen.

The heat wave has or will be broken starting today.

It will stay below 90 in most of the northeast,

from New York City north to Boston right into next week.

And the Mid-Atlantic, like Baltimore in D.C., may exceed 90.

One more time today before dropping into the 80s for next week.

That's Bloomberg meteorologist Craig Allen.

The National Weather Service says 37 million people are still sweating it out

under some sort of heat alert or advisory today.

Heat up in Tehran.

Hundreds of thousands of people attended prayer services today for Iran's late

Supreme Leader Ayatollah Ali Khamenei, and members of his family

were there as part of this multi-day period of mourning.

How many successor, his son and Iran's new supreme leader,

Ayatollah Mojtaba Khamenei, has not made any public appearances.

He's believed to be in hiding after reportedly getting hurt

in the same airstrike that killed his father back in February.

In Washington, Russian President Vladimir Putin jumped on a call with President

Trump yesterday to discuss Ukraine and this week's NATO summit in Turkey.

Tensions are simmering between the U.S.

and the rest of the alliance over the wars

in Ukraine and Iran, and American military commitments in Europe.

Dan Williams covers the Middle East for Bloomberg.

Turkey has the second biggest military in NATO after the United States.

And we have a U.S.

president who's quite openly looking to draw down the US presence in NATO.

The US contribution, certainly when it comes to Europe,

that's something that's really troubled European powers, not like it,

not least given what is perceived as a rather warm approach,

that the Trump has been taken to the Russian president.

That's Dan Williams on Bloomberg this weekend.

He says burden sharing will also likely be a big topic at this summit.

Trump has repeatedly pushed alliance members

to take on more of the financial burden in defending Europe,

while ordering the Pentagon to cut troop levels on the continent.

Cuba is struggling to convince the Trump administration,

now that the economic reforms it's planning are enough

to end a sweeping crackdown on the Communist run island.

We get more on that from Bloomberg's Nathan Hager.

The Cuban government rolled out 176 proposals last month.

They include privatizing state run enterprises, swamping national debts

for assets and minimizing the Cuban government's

middleman role on everything from imports to foreign investment.

But so far, the Trump administration seems unconvinced.

The State Department has called the reforms superficial smoke signals,

and the Treasury Department has slapped

more sanctions on Cuban businesses since they were announced in Washington.

I'm Nathan Hager, Bloomberg Radio.

OPEC plus members have agreed to add

188,000 barrels a day to their output target for next month.

That means they've added

nearly a million barrels a day to quotas since the war in Iran started.

But as oil flows start to rebound in the Persian Gulf now, members

could face a potential price war soon due to a global glut.

Meantime, fewer vessels are sailing through the Strait of Hormuz, near Oman.

Several ships, including oil tankers navigating the route this weekend,

have been forced to make U-turns following radio warnings

from Iran about needing permission to cross the waterway.

Nvidia supplier Hon Hai just reported a bigger than expected

40% jump in quarterly sales, driven by demand for AI related products.

And the company said in a statement today that demand is growing further

with shipments of AI rocks expected to maintain their momentum

in the current quarter, while demand for information

and communications technology products is entering peak season.

Investors in Space-x have been largely flying blind since the company's

record breaking IPO last month, but this week they could get some clarity.

Here's Bloomberg's Charlie Pellett.

There have been few financial projections to help determine

what the stock is actually worth, but this coming week, the quiet period

for analysts at banks that underwrote the IPO ends.

Starting Tuesday, investors should expect a pile of new research

price targets and growth estimates, all of which should help shed light

on where the shares

are likely heading in the near term and over the next few years.

SpaceX, which is based in Starbase, Texas, won't report earnings until August 17th.

In New York, Charlie Pellett, Bloomberg Radio.

We should also get fresh insight from the Federal Reserve this week,

when minutes of its first meeting under new chairman Kevin Warsh are released.

That'll happen Wednesday and will carry a little extra weight.

Since Warsh doesn't plan to address the public as much as previous chairs.

The round of 16 at the World Cup continues today

when Brazil takes on Norway and Mexico goes up against England.

Yesterday, Morocco top, Canada three nil and France beat Paraguay one nil.

The U.S.

is back in action against Belgium tomorrow and Lee Hodges and Lucas Glover topped

the leaderboard heading into the final day of the John Deere Classic in Illinois.

They're both at 16 under par right now.

There's a three way tie for second,

and that's news when you want it with Bloomberg News now.

I'm Monica Rix and this is Bloomberg.