U.S. stock markets continue to inch higher with the S&P 500 and Dow hitting record highs, driven by strong corporate earnings and robust economic data. Technology and AI-related stocks, particularly Nvidia and Pure Storage, lead gains despite mixed signals on growth sustainability. Market sentiment remains cautiously optimistic amidst geopolitical and regulatory headwinds.
Federal Reserve Governor Lisa Cook mounts a legal challenge against President Trump’s unprecedented attempt to remove her, spotlighting concerns over Fed independence and potential economic fallout.
3.3% – Revised U.S. GDP growth rate for second quarter of 2025 indicating stronger than expected economic expansion.
Nvidia posts a record quarter beating Wall Street expectations, yet signals slowing growth ahead amid geopolitical tensions limiting chip sales to China.
Major upheaval at the Centers for Disease Control with the abrupt firing of Director Susan Monarez and high-level resignations amid policy clashes under Health Secretary RFK Jr.
Ulta Beauty Raises Full-Year Forecast on Broad Consumer Growth
Ulta Beauty surprises markets by boosting its annual outlook following strong gains across all major product categories, indicating sustained consumer strength in beauty retail.
More on cnbc.com
Ulta Beauty raises its full-year forecast after strong growth across all major categories, signaling resilient consumer demand in the beauty retail sector.
The U.S. economy grew at a revised 3.3% annual rate in Q2, boosted by business investment including AI spending, underscoring a resilient economic recovery despite tariff and trade uncertainties.
Tesla Sales Plunge 40% in Europe as BYD Charges Ahead
Tesla’s electric vehicle sales in Europe collapse by 40% amid surging competition from Chinese automaker BYD, signaling a major market share loss and competitive challenge for the EV giant.
More on theguardian.com
President Trump fires members of independent federal boards and agencies, intensifying battles over government oversight amid political and regulatory tensions.
Pure Storage stock surges to record highs after better-than-expected earnings and new partnership with Meta boosts outlook and interest from hyperscalers in AI data storage.
Trump administration permanently ends ‘de minimis’ tariff exemption on small imports, introducing tariffs on low-value packages and raising costs for consumers and businesses.
Ford issues large-scale recalls related to brake fluid leaks and instrument panel errors, reflecting quality control challenges in key vehicle models in the U.S. and Canada.
Meta races to launch the next iteration of its Llama AI model by year-end, responding to criticism of earlier versions and ramping efforts in artificial intelligence development.
“This unprecedented attempt to fire a Fed governor risks irreparable harm to the economy and undermines the institution’s independence.”
— Federal Reserve Governor Lisa Cook
U.S. trade policy tightens as the Trump administration ends the low-value ‘de minimis’ package tariff exemption, affecting consumers and businesses with higher costs and import duties.
Tesla faces steep sales declines in Europe as Chinese EV maker BYD surges, signaling shifting competition and market dynamics in the electric vehicle industry.
Russia escalates attacks on Kyiv with heavy missile strikes causing numerous casualties including children, intensifying the conflict and prompting international condemnation.
Canadian banks report strong earnings beating expectations as easing trade tensions and resilient consumer credit support confidence amid tariff uncertainty.
Democratic leaders push to reverse Medicaid cuts to avert government shutdown, focusing on budget negotiations with significant political stakes.
U.S. Treasury Department warns banks about Chinese-linked money laundering schemes funneling billions, highlighting growing concerns over financial crime and regulatory scrutiny.
Advancements in AI stir debates over job displacement and economic impact, with key industry leaders offering varied perspectives on AI’s future in the workforce.
Stablecoin infrastructure firms such as Rain and M0 raise substantial funding rounds, signaling investor confidence in crypto payment systems integration and digital currency adoption.