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US markets hover near record highs, led by steady gains in tech despite mixed earnings. S&P 500 and Dow Industrials set new peaks amid optimism from a stronger-than-expected Q2 GDP report and Nvidia’s AI boom, though geopolitical trade tensions and tariff impacts linger as key risks.
Federal Reserve Governor Christopher Waller signals potential jumbo rate cuts if US economy sharply weakens and supports a series of cuts starting September amid labor market risks.
3.3% – Revised US GDP growth rate in Q2 2025 indicating stronger economic expansion.
US government permanently ends tariff exemption on small shipments below $800, causing global shipping disruptions and raising concerns over higher prices and delays for US consumers and businesses.
Trump administration’s tariff policies and trade tensions impact companies and trade negotiations, putting pressure on manufacturers and international relations, particularly involving India, Japan, and the EU.
Affirm Reports Earnings Beat and Raises Guidance Despite Market Worries
Affirm Holdings posted a stunning fiscal Q4 earnings beat with 33% revenue growth, impressing investors and raising its full-year outlook amid competitive pressures.
More on wsj.com
Microsoft faces internal protests and fires employees over contracts with the Israeli government, highlighting growing conflict within tech firms over ethical concerns about working with military entities.
Elon Musk seeks dismissal of SEC’s 2022 Twitter stake lawsuit, part of ongoing legal battles affecting social media ownership and regulatory scrutiny.
Tesla Sales Fall 40% in Europe, BYD Triples Registrations
Tesla faces a sharp 40% sales plunge in Europe as Chinese competitor BYD’s registrations more than triple, signaling major challenges in the EV market.
More on pbs.org
Data security breaches shake major firms like TransUnion and highlight escalating cyber risks to millions of consumers, with sensitive information exposed in large-scale hacks.
US Federal Reserve Governor Lisa Cook sues President Trump to contest his unprecedented attempt to fire her, challenging the administration’s move and raising questions of Fed independence.
The US permanently ended the ‘de minimis’ tariff exemption for packages under $800, impacting millions of shipments and raising concerns over increased costs and trade disruptions.
US macroeconomic data shows stronger than expected second-quarter GDP growth, revised to 3.3%, reflecting a rebound in the economy driven by consumer spending and business investment.
Nvidia posts record second-quarter earnings amid AI chip boom but signals growth slowdown and faces challenges with China sales due to geopolitical tensions.
The time has come for the Fed to get on with interest-rate cuts and not delay further.
— Federal Reserve Governor Christopher Waller
US approves $825 million air-launched cruise missile sale to Ukraine and unveils new mini-cruise missile for Ukraine’s long-range fight, bolstering military support amid ongoing conflict.
Amtrak rolls out faster NextGen Acela trains connecting Washington DC and Boston ahead of anticipated record travel demand over Labor Day weekend.
Political turmoil and leadership upheaval at the US Centers for Disease Control and Prevention (CDC) caused by Health Secretary RFK Jr.’s moves lead to multiple resignations and staff protests.
U.S. President Trump intensifies political moves by firing a Democratic Surface Transportation Board member to break a tie ahead of a major rail merger decision.
South Korea plans substantial defense budget increase in 2026 emphasizing cutting-edge technology, underscoring rising geopolitical tensions in the region.
China’s KylinOS Linux advances with major update supporting Chinese chips and AI integration, showcasing Beijing’s push for technological independence and AI development.
India continues to show economic resilience even as US tariffs pose downside risks, highlighting uncertainties in the trade relationship between the two countries.
Credit bureau TransUnion confirms major cybersecurity breach exposing millions of consumers’ sensitive data, intensifying concerns about data privacy and protection.
Tesla’s European sales plummet 40% while Chinese rival BYD triples registrations, signaling shifting dynamics in the global electric vehicle market.
Microsoft unveils in-house AI models while navigating ongoing partnership with OpenAI, enhancing its AI offerings amid growing competition and innovation in the sector.
Luxury fashion brand Cracker Barrel restores old logo after backlash and criticism, influenced by President Trump’s public remarks, reflecting cultural and business tensions.
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