Markets hovered near record highs with mixed results as investors digest key earnings and brace for Federal Reserve Chair Jerome Powell’s Jackson Hole speech. Tech stocks, including AI leaders like Nvidia, saw declines amid profit-taking. Defensive sectors and home improvement retailers like Home Depot showed resilience, while geopolitical tensions and tariff concerns kept a cautious tone across global markets.
The U.S. government contemplates taking a significant stake in Intel to boost the struggling chipmaker, while SoftBank makes a $2 billion investment, intensifying focus on semiconductor sector recovery and geopolitics.
10% – Proposed US government equity stake in Intel to bolster the chipmaker.
Air Canada reaches deal to end flight attendant strike, with operations planned to gradually restart, ending a dispute that disrupted hundreds of thousands of passengers worldwide.
Frozen shrimp sold at Walmart is being recalled due to potential radioactive contamination, sparking widespread consumer warnings and FDA investigations across multiple states.
Databricks Achieves $100 Billion Valuation in Record Funding
Databricks raised over $1 billion in a fresh funding round, boosting its valuation to $100 billion, reinforcing its role as a leading AI and data solutions provider.
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Palantir shares plunge amid a broader sell-off in AI stocks, extending losses from record highs as investors question valuations in the tech sector.
Japan’s export figures decline sharply for the third consecutive month as U.S. tariffs bite, signaling pressures on trade and manufacturing sectors.
Viking Therapeutics Stock Collapses 35% On Weight-Loss Drug Results
Viking Therapeutics plunged over a third in value after mixed clinical trial results for its oral weight-loss drug rattled investor confidence in the biotech’s prospects.
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White House official TikTok account launches amidst ongoing uncertainty over the app’s future and regulatory pressures related to its Chinese ownership.
Trump administration expands steel and aluminum tariffs to over 400 additional product categories, affecting a broad slate of consumer goods and manufacturing components.
The US government is seeking to convert CHIPS Act grants into equity stakes in Intel, signaling a shift toward direct state involvement in strategic tech industries.
Trump administration revokes security clearances of multiple current and former officials amid intensified political tension and investigations.
Home Depot reports improved sales as consumers focus on smaller projects, but tariff-driven price increases loom, impacting the home improvement sector amid economic uncertainty.
“We should get an equity stake for our money, ensuring we deliver value and stabilization,”
— U.S. Commerce Secretary Howard Lutnick
The US and European leaders pursue peace talks involving Ukraine and Russia, with Trump promoting diplomatic efforts and no US ground troops to be sent to Ukraine.
Treasury Secretary Scott Bessent highlights expected substantial increase in US tariff revenues aiming to address national debt pressures amid ongoing trade policies.
Meta faces backlash over allowing AI chatbots to engage in inappropriate conversations with children, igniting bipartisan political and public safety concern.
Crypto stocks suffer sharp declines amid risk-off sentiment ahead of Federal Reserve Chair Powell’s Jackson Hole speech, pressuring tokens and related equities.
The Justice Department and Washington authorities investigate alleged manipulation of crime data by D.C. police amid Trump’s judiciary and security crackdowns in the city.
Japan’s SoftBank continues investing in Intel amid rumors of US government planning to acquire stake, reflecting a strategic push to support semiconductor market leaders.
Federal Reserve Vice Chair Michelle Bowman calls for a less cautious approach on cryptocurrency, signaling potential openness for integrating digital assets in finance.
Hurricane Erin brings dangerous conditions to the U.S. East Coast triggering evacuations in the Carolinas, despite not making direct landfall, posing significant threat to coastal areas.
Databricks raises over $1 billion in latest funding round, valuing the company at $100 billion, cementing its status as a leading player in AI and data management platforms.
Wage growth lags behind inflation, particularly impacting lower-income workers, highlighting ongoing challenges in post-pandemic labor market recovery.
Trump administration’s federal law enforcement crackdown in Washington D.C. leads to hundreds of arrests but yields limited immediate impact on crime rates amid political controversy.