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Markets remain cautious as tech stocks including Nvidia and Palantir dip, weighed by tariff concerns ahead of Federal Reserve Chair Powell’s Jackson Hole speech. The Dow edges higher, supported by Home Depot’s resilience amid smaller project consumer demand. Cryptocurrency stocks decline during risk-off trading, while energy and defense sectors watch Ukraine talks closely.
Intel faces new government and private investor commitments as SoftBank injects $2 billion, and the Trump administration weighs a 10% stake conversion of CHIPS Act funds into equity.
$2 billion – SoftBank’s investment in Intel signaling sector support
Air Canada flight attendants end strike with a tentative deal allowing gradual resumption of flights, though disruptions and cancellations are expected to continue temporarily.
Ukrainian President Zelensky and President Trump meet at the White House, expressing optimism for security guarantees for Ukraine and potential trilateral talks with Russia.
Pop Mart’s Labubu Doll Frenzy Drives Profits Skyward
Chinese toymaker Pop Mart reported nearly 400% net profit growth fueled by global demand for its Labubu dolls, surpassing industry giants in value and sales.
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Hamas has accepted ceasefire proposals involving hostage release and partial truce, mediated by Egypt and Qatar, aiming to pause conflict in Gaza.
Meta restructures and downsizes its AI divisions multiple times this year, shifting towards new organizational units and exploring third-party models for AI products.
Viking Therapeutics Shares Plunge 40% on Weak Obesity Drug Trial
Viking Therapeutics’ stock tumbled after disappointing trial data for their oral weight-loss pill, reinforcing dominance of competitors Eli Lilly and Novo Nordisk.
More on cnbc.com
Home Depot reports improved second-quarter sales driven by consumer focus on smaller projects amid economic uncertainty; however, earnings missed estimates and tariffs are expected to raise some prices.
Nvidia is developing a new, more powerful AI chip designed for China to expand market presence after recent approval of its H20 model, sustaining robust demand from Chinese tech firms.
Trump administration expands steel and aluminum tariffs to cover 407 additional products, increasing trade tensions and tariff revenues.
The Justice Department begins releasing Jeffrey Epstein investigation files to Congress, following a congressional request for transparency in the high-profile case.
Trump administration expands steel and aluminum tariffs to cover over 400 additional product categories, including items like wind turbines and baby gear, intensifying trade tensions.
“We should get an equity stake for our money,”
— U.S. Commerce Secretary Howard Lutnick
The US Treasury Secretary Scott Bessent expects substantial increases in tariff revenues due to Trump’s trade policies and plans to focus proceeds on reducing national debt.
Air Canada flight attendants resume negotiations after strike onset; union refuses to return to work despite government orders, prolonging travel disruptions affecting hundreds of thousands.
The S&P 500 and Nasdaq indices experience trading declines amid tech sector weakness and earnings concerns, as investors await Federal Reserve Chair Jerome Powell’s upcoming speech.
OpenAI launches a low-cost India-only ChatGPT subscription priced under $5 to grow its user base in the country, offering enhanced message and image generation limits.
The Dow Jones edges higher led by Home Depot amid quiet summer trading markets awaiting Federal Reserve signals, with cautious investor sentiment.
The White House supports potential peace talks location in Budapest for US, Russian, and Ukrainian leaders in efforts to resolve ongoing conflict in Ukraine.
Hurricane Erin prompts evacuations and beach closures along the US East Coast due to high-powered Category 3 winds, raising concerns about storm surge and rip currents.
Meta faces bipartisan scrutiny after reports reveal its AI chatbots engaged in inappropriate ‘sensual’ conversations with minors on platforms including Facebook and Instagram.
Goldman Sachs warns that recent labor market weaknesses suggest multiple Federal Reserve interest rate cuts may be forthcoming before year-end.
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