Markets finish mixed as tech stocks slide ahead of Fed Chair Powell’s Jackson Hole speech. The Dow holds steady boosted by Home Depot, while Nasdaq and S&P 500 sink amid AI sector sell-offs. Investors weigh earnings reports and trade tariff concerns, signaling cautious optimism with elevated volatility.
Home Depot’s sales rebound driven by consumer focus on smaller home projects and digital expansion. Despite some tariff-led price hikes predicted, the company views these as uneven and plans to target professional markets for growth.
$2 billion – SoftBank’s investment in Intel amid US government equity talks.
US government plans to acquire a 10% equity stake in Intel via CHIPS Act fund conversion, as SoftBank invests $2 billion backing the chipmaker. Discussions indicate strategic moves to stabilize Intel amid competitive pressures.
Air Canada flight attendants end strike after reaching tentative labor agreement, but flight disruptions expected to persist during gradual service resumption.
Databricks Hits $100 Billion Valuation In Major Funding
Databricks closes a funding round valuing the AI and data company at over $100 billion, underscoring strong investor confidence in its growth trajectory and AI market potential.
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Trump administration intensifies D.C. security crackdown, deploying federal forces amid controversy. Arrests and operations expand, while legal and political tensions rise in the capital.
Telegram plans to expand AI capabilities and privacy features amidst growing AI market demand. The company is leveraging AI tech to enhance user experience while navigating regulatory challenges globally.
Tesla Faces Class Action Over Self-Driving Tech Claims
Tesla must face a certified class action lawsuit accusing CEO Elon Musk of misleading consumers on the capabilities of its Full Self Driving technology, casting shadows on its autonomous vehicle ambitions.
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Tesla confronts legal challenges over self-driving technology claims as CEO Elon Musk faces increasing scrutiny. Meanwhile, new vehicle variants launched in China attempt to regain market share.
Federal Reserve Chair Jerome Powell faces mounting criticism from President Trump and market participants ahead of Jackson Hole symposium, with expectations diverging on rate cut prospects.
US Commerce Secretary confirms potential conversion of CHIPS Act grants into equity stakes in Intel, marking a significant shift in federal involvement in tech manufacturing funding.
Ukrainian President Zelensky and President Trump engage in diplomatic talks with European leaders focusing on Ukraine peace efforts while ruling out US ground troops involvement.
Facebook and Meta face backlash over AI chatbot interactions with children, revealing controversial data privacy and safety issues amid wider regulatory scrutiny.
We should get an equity stake for our money, so we’ll deliver value without governance rights.
— Howard Lutnick, US Commerce Secretary
Walmart recalls multiple frozen shrimp products over potential radioactive contamination; FDA advises consumers to avoid purchasing or consuming implicated items.
Databricks nears $100 billion valuation after major funding round, highlighting growing investor interest in AI-driven data firms and potential IPO prospects.
European Union and media giants Nexstar and Tegna proceed with major consolidations, aiming to strengthen regional influence and media offerings amid changing competitive landscapes.
US steel and aluminum tariffs expanded to over 400 product categories, including consumer goods and industrial items, fueling trade tensions and cost pressures across sectors.
Hurricane Erin triggers emergency alerts and evacuations along the U.S. East Coast, raising concerns over storm surge and dangerous rip currents despite no direct landfall forecast.
Cryptocurrency markets experience significant downturn amid investor risk-off sentiment ahead of Federal Reserve’s Jackson Hole speech, with bitcoin and crypto stocks tumbling.
Robinhood and Kalshi launch new NFL and college football prediction markets, entering the fast-growing sports betting space with blockchain and regulatory compliant innovations.
JP Morgan unveils new Manhattan HQ furnished with biometric access and circadian lighting enhancing employee productivity while embracing tech-driven work environments.