🧠 Meme stock kids' meal returns / S&P 500 everyday value rally continues

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🏛️ Financial News

• Administration 🏛️ After Fed renovation project meeting, Trump says he believes Powell is ready to start lowering rates – CNBC: The Trump administration’s budget director Russell Vought kept up the heat on the Fed’s renovation project, pushing the case for a review while pressing for lower interest rates.

  • Rueters: ECB rate decision as it happened: Rate unchanged at 2% as uncertainty remains over US-EU trade deal 

• Japan Tariffs ⛩️ Trump strikes tariff deal with Japan, auto stocks surge – Rueters: President Trump’s trade deal with Japan also spares Tokyo from punishing new levies on other goods, in exchange for a $550B package of U.S.-bound investment and loans. The deal is the most significant of a clutch of agreements the Trump administration has bagged since unveiling sweeping global levies in April though, like other deals, exact details remained unclear. 

  • Yahoo! Finance: Trump says EU deal '50-50'; US, Japan differ on trade deal profits 

  • Reuters: US-Philippines 19% tariff rate yield modest shift after Trump-Marcos meeting 

• China Tariffs 🐉 Bessent says Aug. 12 China tariff deadline likely to be extended, talks planned in Stockholm – CNBC: Treasury Secretary Scott Bessent said the U.S. is likely to hash out an extension of President Donald Trump’s upcoming trade deadline with China.

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🌎 Global Markets

• S&P 500 $VOO ( ▼ 0.02% )🌍📊 S&P 500 rises, heads for winning week on strong earnings, trade deal optimism – Rueters: Both major US indices have been pushed to repeated record highs in recent weeks, as investors showed increased ambivalence to Trump's tariff threats, and confidence these policies may not damage the US economy as severely as once feared.

  • Reuters: VOO ETF Gains $2.2B as S 500 Posts Another Record Close 

• ETFs : Nasdaq $QQQ ( ▲ 0.31% )  🌐QQQ attracts $1.4B as Nasdaq surges past 21,000 – etf.com via Yahoo! Finance: According to data provided by FactSet, the Invesco QQQ Trust pulled in $1.4B, bringing its assets under management to $355.6B. 

• Retail Investors : Meme Stocks $OPEN ( ▼ 7.87% ) 🙃 Meme stocks pare gains as highly shorted Krispy Kreme, GoPro join the frenzy – Bloomberg via Yahoo! Finance: Reddit message boards lit up once again with rocket emojis and call-option bravado, as Opendoor surges 43% in a single day, Krispy Kreme rallies 39% in hours, and GoPro briefly spikes 73%.

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📊 Stock Market

• Automakers $GM ( ▲ 0.09% )🚘 Trump tariffs take a $1B bite out of GM earnings; shares fall – Reuters: Automaker still beat Q2 expectations, supported by strong sales of its core gasoline trucks and SUVs.

•  Automakers $STLA ( ▼ 4.25% ) 🚗 Jeep maker Stellantis warns of a shock $2.7B loss as tariffs bite – CNBC: Stellantis released preliminary estimates for the first six months of the year shortly after withdrawing its full-year financial guidance.

• Healthcare : Insurers $UNH ( ▲ 0.38% )⚕️ UnitedHealth says it is under a federal investigation and cooperating – Yahoo! Finance: The health care giant is cooperating with federal criminal and civil investigations involving its market-leading Medicare business.

• Media : Studios $PARA ( ▼ 0.08% )▶️ CNBC: FCC clears way for $8B Paramount-Skydance merger

• Restaurants : Casual $CMG ( ▼ 4.06% ) 🌯 Chipotle stock tumbles after chain cuts same-store sales forecast – CNBC: The burrito chain’s earnings were in line with expectations, but cut its forecast for same-store sales growth for the full year after its quarterly revenue fell short of estimates, as traffic fell 4.9% in Q2.

• Staples : Beverages $KO ( ▼ 1.56% ) 🥤 CNBC: Coca-Cola will roll out cane sugar version of namesake soda in the US this fall, as higher prices boost profits

• Consumer : Transports $UBER ( ▼ 0.76% ) 🚖 CNBC: Uber will let women drivers and riders request to avoid being paired with men starting next month in Los Angeles, San Francisco and Detroit 

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🚀 Magnificent 7

• Technology $GOOG ( ▼ 0.34% )🔍 Alphabet beats Q2 revenue and earnings expectations, raises spending forecast $85 billion capital spend spurred by cloud, AI demand – CNBC: The communications giant’s overall revenue grew 14% YoY, higher than the 10.9% expected. Google said it would increase its capital expenditures forecast for 2025 to $85B, up $10B from February, due to strong and growing demand for cloud products and services.

  • SiliconANGLE: Tech spending remains persistently uncertain 

• Autos : EV $TSLA ( ▲ 3.02% ) 🔌 Tesla reports Q2 sales miss, as auto revenue drops for second straight quarter – CNBC: The automaker has been ceding market share to companies with more affordable EVs. Tesla reported a second straight quarter of YoY revenue declines, as the stock price is down 18% this year, the worst performance among tech’s megacaps.

  • NBC: Trump says he won’t ‘destroy’ Musk’s companies by taking away subsidies

  • Reuters: Tesla to roll out human-driven chauffeur service in Bay Area, California regulator says

  • CNBC: Tesla dumped 75% of its bitcoin at one of the worst times, losing out on billions 

• Semi-conductors $NVDA ( ▲ 1.87% ) 🧇 Nvidia addresses AI chip smuggling, says bootleg data centers are a ‘losing proposition’ – CNBC: Nvidia responded to a Financial Times report that at least $1B worth of its AI chips illegally entered China. “Datacenters require service and support, which we provide only to authorized NVIDIA products,” Nvidia said in a statement. 

• Technology $MSFT ( ▼ 0.24% ) 👩‍💻 Reuters: Microsoft knew of SharePoint security flaw but failed to effectively patch it, timeline shows  

• Technology $AMZN ( ▲ 0.58% ) 🛒 CNBC: Amazon buys AI wristband developer Bee that makes wearable device that listens to everything you say

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🌐 Technology

• Dept. of Energy 🏛️ US DOE announces first four sites for AI data center development – CNBC: The Dept. of Energy also invited private sector partners to develop both data centers and related power infrastructure at Idaho National Laboratory, Oak Ridge Reservation, Paducah Gaseous Diffusion Plant, and Savannah River.

• Semi-conductors $INTC ( ▼ 0.1% ) 🧇 Intel drops 9% as chipmaker’s foundry business axes projects, struggles to find customers – CNBC: Intel reported better-than-expected Q2 results but warned of foundry troubles as it struggles to turnaround its business.

• B2B Technology $IBM ( ▲ 1.34% ) 🌐 IBM results beat expectations as the company pushes up full-year guidance – CNBC: The software, hardware and IT services company delivered stronger results than expected and raised its forecast for full-year free cash flow, driven by infrastructure sales, such as mainframe computers.

• Software : Automation $NOW ( ▲ 1.75% ) 🦾 CNBC: ServiceNow posted stronger-than-expected Q2 results and boosted its guidance due to AI adoption

• Hyperscalers : GPUs $CRWV ( ▼ 4.62% )🗄️ CNBC: CoreWeave stock climbs after company announces $1.5B bond sale to pay down debt

• Administration 🏛️ Trump’s AI Action Plan trades guardrails for growth in race against China – CNBC: The Trump administration strategy is a sharp shift away from former President Biden’s cautious approach to addressing the risks of AI, and instead barrels ahead with plans to build out AI infrastructure, cut red tape for tech companies, shore up national security, and compete with China.

• China AI 🐉 How China’s open-source AI is helping DeepSeek, Alibaba take on Silicon Valley – South China Morning Post: China’s free-for-all AI models, developed by firms like DeepSeek and Alibaba, present a viable alternative to US closed-source systems.

  • South China Morning Post: Survey: US and European users open to Chinese AI models like DeepSeek despite scrutiny

• Frontier LLMs 🤖 OpenAI will open its first office in Washington DC, early next year – CNBC: The office will be home to OpenAI’s workforce in the nation’s capital, currently made up of about 30 people.

•  Job Search 💼 Study finds 1 in 3 Americans ask ChatGPT to help them find a new job – ZDNet: Of 1,000 Southeastern Oklahoma University workers surveyed, 18% said AI suggested an entirely new career path that they hadn't previously considered.

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• Home Mortgages 🏡 President Trump considering eliminating capital gains on home sales: This would be a boon for older homeowners in high-cost states – Yahoo! Finance: Under current law, home sellers can face capital gains taxes once profits exceed $250,000 for single filers or $500,000 for married couples filing jointly.

  • Mercury News: 19% of California houses are owned by investors 

• Household Savings 🏠 Analysis of 4.7M household shows more Americans shift money from checking and savings to accounts with investment income – AP News: New research from the JP Morgan Chase Institute found that more Americans are shifting their money from checking and savings accounts into financial vehicles that pay an investment income, a trend that helps to explain the resilience of the US economy after a bout of high inflation and recent uncertainty due to tariffs.

  • Yahoo! Finance: Homeowner tips to save on utility bills as summer heats up 

• Taxes : Senior Exemptions 👴 Are you eligible for the new $6,000 senior tax deduction? – CNBC: Joint filers over 65 will be able to deduct up to $46,700 from their federal return.

• Retirement Investing : Robo Advisors 🤖  I asked AI and my financial planner the same questions. Here’s how they stacked up. – MarketWatch: Google’s Gemini gave me similar savings advice as my financial planner — but here’s why I don’t plan on getting rid of my human adviser anytime soon.

• Retirement Planning 🏖️ The 10 best U.S. states to retire—it’s about more than ‘just the number of sunny days and taxes’ – CNBC: While white sandy beaches and mild, sunny climates have long been features of the archetypal American retirement, New Hampshire, a state known more for its skiing than its sunshine, was named the best state to retire in Bankrate’s 2025 rankings.

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📅 We’ll be back next Saturday to recap the week’s financial news that keeps you informed on your personal wealth journey.

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✨ Happy Unprompting,

Rawee
[email protected]

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