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US markets closed at fresh record highs as the S&P 500 surpassed 6,500, buoyed by strong Nvidia earnings and resilient consumer spending. Tech stocks showed mixed results while concerns about tariffs and geopolitical tensions weighed on sectors like retail and energy. Volatility remained moderate as investors balanced growth optimism with caution on regulatory and global trade developments.
The Federal Reserve and Trump administration are locked in an unprecedented legal battle as Fed Governor Lisa Cook challenges her firing, highlighting concerns about central bank independence and potential policy impacts.
3.3% – Revised US GDP growth rate for Q2 2025, surpassing initial estimates.
Nvidia reports record revenues but signals slowing AI-driven growth amid geopolitical tensions affecting China sales, casting uncertainty on the future trajectory of the AI semiconductor market.
The Centers for Disease Control faces leadership chaos following firings and resignations amid policy conflicts under Health Secretary RFK Jr., sparking bipartisan alarm and upheaval in public health governance.
Affirm Surges 15% After Crushing Earnings and Revenue Estimates
Affirm’s Q4 revenue rose 33% YoY, surpassing estimates and boosting the stock by over 13%, reflecting strong consumer demand and market confidence in its financing model.
More on wsj.com
The US economy posts stronger-than-expected 3.3% growth in Q2 after revision, driven by consumer spending and business investment, improving near-term economic outlook despite inflation concerns.
Trump administration steps up trade tensions with 50% tariffs on Indian goods, escalating economic pressure and diplomatic strain between the world’s two largest democracies while India boosts Russian oil imports.
Ford Recalls 500,000+ Trucks Over Brake Fluid Leak Risk
Ford is recalling nearly half a million vehicles due to brake fluid leaks, raising safety concerns and regulatory scrutiny for the automaker amid ongoing quality challenges.
More on cbsnews.com
Ford issues massive recalls affecting nearly 500,000 vehicles in the US and Canada due to brake fluid and instrument panel defects, raising safety concerns and regulatory scrutiny for the automaker.
Retailers like Best Buy and Gap report mixed results amid tariff concerns, with some earnings beats overshadowed by worries about ongoing trade disruptions and their impact on margins and consumer demand.
The Trump administration permanently ends the ‘de minimis’ tariff exemption for low-value packages, triggering international postal suspensions and raising import costs for consumers.
Electric vehicle sales see a twist as Tesla’s European sales plummet 40% while Chinese rival BYD triples registrations, signaling a shift in the competitive EV landscape in the continent.
Microsoft and OpenAI expand AI capabilities with new proprietary models and enhanced speech technologies, underscoring escalating competition in AI innovation and infrastructure deployment.
“The time has come for the US to lower interest rates, beginning with September cuts.”
— Federal Reserve Governor Christopher J. Waller
US packages valued under $800 lose duty-free exemption in major policy change, triggering postal suspensions by several countries and raising costs for consumers on low-value imports.
Legal entanglements and firings within Trump’s administration escalate with dismissals from the Surface Transportation Board and lawsuits challenging presidential authority over independent agencies.
European Union moves to reimpose UN sanctions on Iran amid nuclear concerns as Germany, France and UK trigger snapback mechanism, intensifying geopolitical tensions and impacting global trade.
Cryptocurrency exchanges and blockchain firms see regulatory clarifications and growth in trading volumes with innovative registrations, partnerships, and institutional interest boosting digital assets.
Major corporations report earnings beats and raise forecasts, with Affirm, Autodesk, Ulta Beauty, and SentinelOne showing strong growth fueled by consumer demand, AI, and technology services.
China and Russia aim to revive trade ties before a high-profile summit with Xi and Putin, amid poor current trade figures and geopolitical strains surrounding global economic alignments.
US stock markets hit record highs with S&P surpassing 6,500 points fueled by strong Nvidia earnings and resilient consumer spending, though tech stocks show mixed reactions post-earnings.
Security breaches and cyberattacks escalate with TransUnion reporting a 4.4 million customer data breach, and increasing concerns over AI-driven cybercrime and geopolitical hacking campaigns.
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