Markets dipped as tech stocks fell on cooling AI enthusiasm and concerns over inflation and tariffs. Nasdaq and S&P 500 slipped while investors awaited Fed Chair Powell’s Jackson Hole speech, with consumer staples and energy sectors showing resilience.
Trump escalates attacks on Federal Reserve governor Lisa Cook amid unproven mortgage fraud claims, calling for her immediate resignation and pressuring officials to investigate.
60,000 – Israeli reservists called up for Gaza City expanded military operation.
Target names longtime executive Michael Fiddelke as new CEO to reverse ongoing sales slump and steer company through competitive retail challenges.
Google unveils Pixel 10 smartphone lineup featuring advanced AI capabilities and new hardware enhancements, pushing its AI-driven device strategy.
Pop Mart’s Labubu Sparks 400% Profit Surge
Chinese toymaker Pop Mart reported a near 400% profit increase fueled by Labubu toy sales, positioning the company for strong international growth.
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Federal Reserve officials remain divided over inflation, tariffs, and the timing of interest rate cuts, as revealed in July meeting minutes, impacting market cautiousness.
Intel secures $2 billion investment from SoftBank as US government eyes a 10% stake, signaling increasing public-sector involvement amid chip war with China.
Palantir Stock Plummets Amid Longest Losing Streak Since 2024
Palantir shares have fallen nearly 20% from their year highs after six straight days of declines, marking the longest losing streak since April 2024 and raising concerns among investors.
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Wall Street tech stocks tumble on AI sector concerns after MIT report and cautious investor sentiment ahead of Jerome Powell’s Jackson Hole speech.
Israel approves major settlement projects and calls up 60,000 reservists as it prepares for an expanded Gaza operation, heightening regional tensions.
US Commerce Department hikes steel and aluminum tariffs on over 400 imported products, impacting appliances, wind turbines, and EV parts amid ongoing trade tensions.
Walmart recalls frozen shrimp sold in multiple states due to potential radioactive contamination, prompting consumer safety warnings.
Meta restructures AI teams to accelerate race towards ‘superintelligence’ with significant investment in new labs despite regulatory and public scrutiny.
We’re witnessing a revolution in banking right now, with technology reshaping how we view money and payments.
— Fed Governor Christopher Waller
Trump administration expands sanctions on International Criminal Court officials and intensifies pressure on Fed amid internal political conflicts.
Fed minutes reveal debate on economic indicators and policy direction, displaying concerns over labor market and inflation outlook.
Pop Mart’s Labubu toy line surges with explosive profit gains and growing international sales, setting the foundation for long-term brand expansion.
Federal government considers equity stakes in chipmakers like Micron, TSMC, and Samsung to leverage CHIPS Act funding and bolster US semiconductor industry.
Feds sue LA Fitness over difficult-to-cancel gym memberships, alleging unfair consumer practices with widespread legal implications.
Nasdaq and S&P 500 slide amid tech stock selloff and mixed retail earnings, with investors awaiting cues from upcoming Fed events.
Tesla launches new six-seat Model YL in China but Elon Musk hints it may never arrive in US due to regulatory and market challenges.
SoftBank shares tumble amid broad declines in Asian tech stocks following weaknesses in US technology sector.
Amazon partners with Hertz to sell used cars directly on its platform, aiming to capitalize on the growing online auto sales market.