The 10-Point: Zelensky Says Putin Is Unlikely to Curb Attacks Without U.S. Pressure — WSJ Newsletter

Emma Tucker

1. FROM MY DESK

President Trump told world leaders at the U.N. that the coming midterms won't alter his approach to war in Iran: "It doesn't even enter my mind." Some Republicans wish it would. With less than six weeks until the election, the conflict has become one of the GOP's biggest vulnerabilities. Yet Trump doubled down on his muscular foreign policy agenda, positioning his interventions as the centerpiece of his second term-and his post-White House legacy.

On the sidelines in New York, I sat down with Ukrainian President Volodymyr Zelensky. He said Russian President Vladimir Putin is unlikely to curb attacks without more pressure from Washington. Zelensky also said he asked Trump for a "winter package" of new military equipment and believes the U.S. will pursue a deal to halt attacks on energy infrastructure. Watch our interview here.

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2. TODAY'S HEADLINES

• Chinese leader Xi Jinping wanted his trip to the U.S. to be categorized as a "state visit," the highest tier of diplomatic pageantry. When he arrives today, Xi will get his way, but reaching an agreement took weeks of work.
• Health Secretary Robert F. Kennedy Jr.'s enhanced security was funded with money from the Office of Minority Health.
• A $5 billion flurry of nearly identical Kalshi trades is drawing scrutiny.
• Americans are about to lose access to cheap gray-market prescriptions from Canada.
• Meta's new AI agent is an instant hit-and the backlash has already begun.

3. LIVE FROM THE MARKETS

Follow our live financial coverage all day.

• Stocks Spencer Jakab is watching: Investors bet heavily on underdog Dick's Sporting Goods on Tuesday as its shares surged 8.3%. A month ago they had their biggest single-day drop ever, falling by more than 30%, with an executive blaming a "hangover" in athletic shoe inventory. Those bad vibes dragged down footwear companies, including Nike and Deckers Outdoor, at the time. Both stocks bounced early on Tuesday, but they were flat-footed by the end of the session. (Get Spencer's Markets A.M. newsletter in your inbox.)
• Activist hedge fund Jana Partners is urging theme-park operator Six Flags Entertainment to explore a sale.
• Gadgets are going premium-and manufacturers are raking it in, writes Asa Fitch.

4. READ IT HERE FIRST

Private-credit firms are buzzing about getting in on JPMorgan's card empire.

(JPMorgan) Chase recently explored a way to ease a longstanding point of contention with credit-card partners such as airlines and retailers, a plan that would open the door for private credit to get a new piece of consumer debt. The bank sent out requests to discuss so-called second-look applications, which would allow outside lenders to take on the risk of approving applications the bank denies, according to people familiar with the matter. (Blue Owl), Blackstone, (KKR) and Sixth Street are among the lenders whose executives have been approached about JPMorgan's program, the people said. A partnership with JPMorgan would signal another level of acceptance into mainstream finance, report AnnaMaria Andriotis and Alison Sider.

5.

Cocaine smugglers are blowing past Europe's law enforcement with speedboats and tech.

Global cocaine production is at a historic peak, driven by global demand, expansive coca cultivation and a well-oiled supply chain. Cartels ship the drug from ports in Ecuador or Brazil to West Africa and on to Europe, now the world's second-largest cocaine market behind the U.S. Spain's beachside paradise of Costa del Sol has become one of the most trafficked ports of entry. Seafaring drug smugglers hold the advantage over antidrug forces, using drones, radar and thermal imaging to avoid detection and high-powered speedboats to outrun authorities. Reporters Sune Engel Rasmussen and Antonio Pampliega met with drug traffickers, law enforcement and the mother of a police officer killed by the gangs to investigate how southern Spain is being flooded with cocaine.

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6. SEE THE STORY

Are airport VIP packages really worth the price? We tested three to find out.

American, Delta and United each offer under-the-radar VIP services at select airports for a fee. VIPs for a day get a taste of the frictionless life enjoyed by travelers with the airlines' invite-only loyalty statuses like American's ConciergeKey. And you pay less than it costs for one of those private VIP terminals. Celebrities and executives are big customers. On our travel columnist's American flight, a popular character actress booked it and was greeted in the jet bridge upon deplaning. Dawn Gilbertson tested all three services to see if they're worth it.

7. HAPPENING TODAY

• Chinese President Xi Jinping arrives in Washington for his state visit, with Trump expected to greet him at Joint Base Andrews.
• Earnings: General Mills
• Today's paper

8. THE NUMBER

60,000

The estimated number of fake job listings Jay Jones says he has helped remove from the internet. An out-of-work copywriter on the job hunt himself, Jones spends hours every day hunting for scams on LinkedIn and other sites. Working into the wee hours of the morning, he has flagged about 7,000 scam profiles, including many funneling applicants to those roles. His efforts reflect growing frustration among job seekers with fraud in the hiring process.

9. AND FINALLY...

The hottest souvenir in Paris is a block of butter. But getting it home in one piece is a high-wire act.

Artisanal butter has become Paris's must-have status souvenir, supplanting Ladurée macarons and drugstore skin care. But with summer heat waves, the window between culinary treasure and golden puddle has never been narrower. The obsession mostly centers on one address: La Grande Épicerie de Paris, the LVMH-owned luxury food hall attached to Le Bon Marché. Tourists treat a trip to the dairy aisle with the same reverence they might reserve for the Louvre.

10. BEYOND THE NEWSROOM

• Opinion: Republicans are watching the midterm polls with increasing dismay. Alas, their response is to compound the disarray with policy mistakes-like calling for a ban on diesel-fuel exports.
• WSJ | Buy Side: We found the best life insurance companies based on our analysis of term life and cash-value policies.

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This article is a text version of a Wall Street Journal newsletter published earlier today.