Daily Summary•AUG 7, 2026The United States ended Friday, with fresh signs of economic weakness colliding with consequential developments in Washington. A surprise contraction in employment lifted financial markets even as it raised concerns about the labor market, while President Donald Trump renewed his effort to restrict birthright citizenship and suffered a significant court defeat over his White House construction plans. The Senate, meanwhile, pushed a contentious attorney general nomination across the finish line as negotiations over the Strait of Hormuz remained a major foreign-policy and economic risk.