US stocks held gains despite Trump’s unprecedented firing of Fed Governor Lisa Cook, with the S&P 500 and Nasdaq edging higher while bond yields steepened. Chipmakers led gains ahead of Nvidia’s earnings, highlighting AI sector optimism despite looming market volatility.
President Trump’s unprecedented move to fire Federal Reserve Governor Lisa Cook has escalated tensions over central bank independence, leading to legal battles and widespread political and market reactions.
6.4 billion dollars – Size of the new cryptocurrency treasury company formed by Trump Media and Crypto.com.
SpaceX’s Starship finally succeeds on its 10th test flight, overcoming previous failures by launching and deploying test satellites, reaffirming Elon Musk’s lead in commercial spaceflight.
Cracker Barrel reverses course by scrapping its new logo following intense backlash from conservatives, customers, and even President Trump, opting to keep its nostalgic original “Old Timer” branding.
Eli Lilly’s Weight-Loss Pill Hits Key Trial Goal, Poised for Approval
US pharma giant Eli Lilly’s new oral weight-loss drug met primary endpoints in a late-stage diabetes trial, advancing plans for global regulatory submission and market launch.
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Donald Trump expands his influence over the Federal Reserve by firing Governor Lisa Cook and plans to install loyalists, increasing political interference risks in monetary policy and stirring market unease.
Nvidia prepares to report earnings amid high market expectations, with its AI chip business under scrutiny particularly regarding China’s market and broader implications for the AI boom.
Comcast Summer Ratings Plunge 49%, Leaving Advertisers Stranded
Comcast suffers a dramatic collapse in summer TV ratings, hitting advertisers with reduced audiences and deepening challenges in traditional broadcast media.
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Trump Media and Crypto.com forge strategic partnership to create a $6.4 billion cryptocurrency treasury company, expanding the Trump family’s crypto empire and integrating digital assets into media platforms.
OpenAI faces lawsuits over ChatGPT’s role in a teenager’s suicide, prompting the company to promise safety updates aimed at detecting mental distress in users.
The US ends the ‘de minimis’ tariff exemption for small shipments under $800, raising import duties and impacting e-commerce and consumer goods flows.
US tariffs on shipments from India and other countries take effect, ending the de minimis tariff exemption on small orders, with consumers and businesses bracing for cost impacts on imports and e-commerce.
Comcast faces severe summer ratings crashes, putting advertisers in a bind as traditional TV viewership plummets in a challenging media landscape.
President Trump has no authority to fire me, and I will not resign.
— Federal Reserve Governor Lisa Cook
US stock markets hold steady or rally modestly despite Trump’s Fed firing move, with indices like S&P 500, Dow, and Nasdaq showing resilience amid political uncertainty.
Asia-Pacific markets trade mixed as investors digest higher Australian inflation and watch for tech earnings ahead; Hong Kong rallies on China chip optimism.
UnitedHealth Group draws a broader Justice Department criminal probe over its pharmacy services and doctor reimbursements, intensifying regulatory scrutiny on the insurer.
Tesla stock nears buy point but faces ongoing pressure in China’s EV market; autonomous testing begins in Boring Company tunnels, though full self-driving is still distant.
Intel warns Trump’s government stake could hurt business operations as the move raises concerns about shareholder primacy and regulatory risks in the semiconductor sector.
Significant layoffs announced at Intuitive Surgical and Kroger amidst cost pressures and operational shifts, reflecting challenges in healthcare tech and retail sectors.
U.S. government considers taking equity stakes in defense contractors following Trump administration’s precedent with Intel, signaling a new approach to managing strategic industries.
Microsoft faces escalating protests and a temporary lockdown at its headquarters over its work with the Israeli military, highlighting growing backlash in tech over geopolitical issues.
Alibaba and China’s AI chip firms see mixed results amid limited gains from AI advances, as DeepSeek’s new AI model fuels hopes for semiconductor self-sufficiency in China.
Canada Post hits record quarterly losses due to labor disputes and falling parcel volumes, while union negotiations remain stalled, threatening the crown corporation’s outlook.
Legal battles and investigations abound as Trump and his administration face multiple lawsuits and probes, including challenges to judicial appointments and executive orders.