U.S. markets rallied on tech strength with Alphabet and Apple pushing the Nasdaq and S&P 500 higher amid muted investor sentiment. Asian markets showed mixed responses to Fed rate-cut signals, while European stocks edged up ahead of key data releases. Bond markets eased after weak U.S. jobs data reduced rate hike concerns.
Google faces heavy fines and legal challenges over privacy violations in the US and Europe, including a $425 million fine and a $325 million penalty for cookie policy breaches. Despite setbacks, Google stock soars after court rulings favoring the company.
$425 million – Google’s largest US privacy fine in recent litigation.
President Trump intensifies legal battles over his controversial tariffs, seeking expedited rulings from the Supreme Court to overturn lower court blocks and preserve his trade policies. This ongoing fight could impact trillions in global trade and trigger huge business refunds.
ConocoPhillips announces major workforce cuts, slashing up to 25% of jobs amid a challenging oil market. The job reductions are part of a broader restructuring aimed at cost savings as oil prices pressure the sector.
Anthropic Raises $13 Billion, Becomes AI Giant at $183 Billion Valuation
AI startup Anthropic secured a massive $13 billion funding round, soaring to a $183 billion valuation as investor interest in AI accelerates.
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Trump-backed cryptocurrency companies make notable public market debuts, with American Bitcoin stock surging over 16% amid growing Trump family crypto wealth. However, related tokens like World Liberty Financial face steep value losses post-launch.
Salesforce posts better-than-expected Q2 earnings but disappoints with cautious future revenue guidance amid uncertain AI adoption impacts. CEO Benioff warns of large restructuring and job cuts as AI transforms customer support roles.
ConocoPhillips to Slash Up to 25% of Workforce Amid Oil Slump
Energy giant ConocoPhillips plans major job cuts, reducing workforce by up to a quarter as the challenging oil market pressures the sector.
More on cnbc.com
Federal judge strikes down Trump administration’s freeze on $2.2 billion in federal grants to Harvard, restoring funding and ruling freeze illegal. The ruling highlights judicial pushback against Trump policies perceived as political retaliation.
US military carries out lethal strike on Venezuelan vessel linked to narcotics trafficking, killing 11 gang members. The operation intensifies the Trump administration’s war on drugs and heightens tensions in the Caribbean region.
European Central Bank President Christine Lagarde calls for stricter supervision of non-EU stablecoin issuers, aiming to level regulatory standards in the EU digital asset space.
Nasdaq plans stricter listing rules targeting small and Chinese companies to curb volatile trading and suspected scams, raising the bar for market float and suspension processes. This follows continued regulatory scrutiny amid China-US tech tensions.
Major tech stocks, including Alphabet and Apple, fuel a strong market rally as investor sentiment edges lower, keeping the CNN Money Fear and Greed Index in neutral territory amid cautious optimism about rate cuts and economic data.
“We need to start cutting rates.”
— Federal Reserve board member Christopher Waller
American Eagle reports stronger sales boosted by effective marketing campaigns featuring Sydney Sweeney and Travis Kelce, driving shares up by 20% and signaling improved consumer demand despite broader retail challenges.
European stocks open higher amid data releases and investors’ assessment of Trump’s tariffs impact. Meanwhile, regulatory probes and fines affect companies involved in tech and e-commerce, reflecting ongoing geopolitical and trade tensions.
Emerging AI startups Anthropic and Mistral secure massive venture funding rounds, with valuations soaring to $183 billion and $14 billion respectively, highlighting continued investor enthusiasm for AI innovation despite sector volatility.
AI industry and leaders face executive turnover and regulatory challenges as xAI’s CFO departs after just three months, while Meta’s superintelligence lab experiences a wave of departures amid aggressive talent competition.
Hurricane Kiko intensifies to Category 4 with potential for further strengthening over the Pacific, prompting vigilance though no immediate watches or warnings have been issued yet, emphasizing ongoing climate risks.
The US Federal Reserve signals increasing likelihood of imminent interest rate cuts amid signs of a slowing economy and weak labor market, affecting market strategies and contributing to lower long bond yields worldwide.
Microsoft reports stronger Q2 results and counters narratives about AI obsolescence, while Salesforce faces investor wariness despite AI growth, reflecting uncertainty in software sector adaptation to AI technologies.
Russia escalates military pressure on Ukraine with intensified drone attacks, while Ukraine develops ground assault robots, signaling a continued hardening of conflict despite stalled peace talks in the region.