Overnight news summary on July 10th.

1. A US official stated that the United States is still committed to seeking a solution to the Iran issue, and relevant technical negotiations are continuing. 2. The Israeli Prime Minister's Office released a statement stating that Prime Minister Netanyahu had a phone call with US President Trump that evening, and both sides agreed to continue policy coordination between the two countries in various fields. 3. The UK-based maritime analysis company Windward released a report on the 9th stating that due to ongoing conflict between the US and Iran, the traffic through the Strait of Hormuz has sharply decreased, and commercial ships leaving the Persian Gulf through the strait have basically come to a standstill. 4. According to Iran's Mehr News Agency, explosions were heard in several locations across Iran on the evening of July 9th, including the southern coastal cities of Bushehr, Jask, and Bandar Abbas, as well as the southeastern coastal city of Konarak. 5. On the 9th, the first day of the election for the leader of the UK Labour Party, Andy Burnham received nominations from 322 out of 403 Labour Party members of parliament, essentially locking in the position of party leader and potentially the next Prime Minister of the UK. 6. Israeli Prime Minister Netanyahu stated on the 9th that Israel "will not allow" Iran to acquire nuclear weapons, regardless of whether the US and Iran reach an agreement. Meanwhile, Israel plans to increase defense budget over the next 10 years, focusing on developing the air force and domestic defense industry. 7. After completing relevant investigations, the US decided not to impose tariffs on commercial aircraft, jet engines, and their components. President Trump instead instructed the government to negotiate with trade partners to adjust the importation of such products. 8. SK Hynix raised $26.5 billion through the issuance of American Depositary Shares (ADS) at $149 per share, issuing 1.779 billion ADS. Trading is expected to begin on Nasdaq on July 10th. 9. Federal Reserve Chairman Kevin Warsh announced the leaders of five working groups. These working groups will review the Fed's practices in key policy areas and may push for broad reforms. The leaders of the working groups include prominent scholars, former central bank officials, and corporate executives. 10. Meta released its most advanced artificial intelligence model, Muse Spark 1.1, and introduced a paid version for developers for the first time. Zuckerberg also denied that Meta had excess computing power, stating that developing cloud business has commercial potential. 11. OpenAI officially launched the GPT-5.6 full model series, open and available for use. The GPT-5.6 models are billed per million tokens, covering three model specifications: Sol at $5/$30 per million input/output tokens, Terra at $2.50/$15, and Luna at $1/$6.