Market Summary
U.S. equity markets hit record highs amid anticipation of Federal Reserve rate cuts, despite downgraded job growth figures. Tech and AI stocks led gains while geopolitical tensions caused modest volatility in oil markets. Investor sentiment remains cautiously optimistic with mixed earnings reports tempering enthusiasm.
The Supreme Court has fast-tracked multiple cases challenging former President Trump’s sweeping tariffs and funding freezes. These decisions could have significant implications for U.S. trade policy and executive power.
Figure of the Day
911,000 – Jobs cut from U.S. employment tally in latest Labor Department revision.
Apple launched its iPhone 17 lineup, featuring the ultra-thin iPhone Air and upgraded AirPods Pro 3 with new health and translation features. The company held prices steady despite tariff challenges.
Oracle reported an ‘astonishing’ quarter with strong AI-driven cloud growth, leading to a 25% stock surge despite some earnings misses. The company projects significant revenue from its AI backlog.
Bullish
Oracle Stock Soars 25% on Stellar AI-Fueled Cloud Growth
Despite some earnings misses, Oracle’s bullish AI-driven cloud revenue forecast lifts shares sharply, signaling strong investor confidence in its tech pivot.
More on ft.com
Klarna priced its IPO at $40 per share, above expectations, raising about $1.37 billion and valuing the company at roughly $15 billion amid volatile tariff environments.
Geopolitical tensions escalate after Israel launched strikes targeting Hamas leadership in Qatar, triggering international outcry and raising concerns about regional stability.
Bearish
U.S. Job Growth Revised Down by 911,000, Raising Alarm
New Labor Department data reveals nearly a million fewer jobs created in past year, intensifying concerns about economic slowdown and labor market health.
More on tippinsights.com
The U.S. Labor Department revised job growth data, revealing 911,000 fewer jobs created over the past year, raising concerns about economic health and fueling expectations for Fed rate cuts.
Political turmoil in Nepal culminates in the Prime Minister’s resignation after deadly protests sparked by a social media ban and widespread public unrest.
Regulatory Impact
Supreme Court fast-track hearings on Trump’s tariffs could reset executive trade authority; Biden administration signals policy shifts following court rulings.
Major U.S. retailers like Cracker Barrel and Walmart face consumer backlash and business challenges, with Cracker Barrel halting remodels after logo controversy and Walmart closing stores.
Hyundai’s U.S. battery plant faces fallout after immigration raids expose visa abuses, complicating U.S.-South Korea relations and raising questions about workforce policies.
Quote
“The Epstein saga is perhaps the nastiest example of a trend that infects his entire presidency — an infection of lies, dishonesty,”
— Senator Chuck Schumer
Lachlan Murdoch secures control of the Murdoch family media empire, ending a long succession battle and solidifying his role as head of conservative media outlets.
Nvidia faces pressures despite AI boom, including CEO’s relatively low wealth ranking among peers, amid ongoing industry competition and geopolitical concerns over chip exports to China.
Microsoft partners with Anthropic to diversify AI offerings, reducing reliance on OpenAI, while planning stricter return-to-office policies for AI teams.
The U.S. faces rising geopolitical risks with Israel’s expanded military actions and ongoing tensions affecting oil prices and regional stability.
Robinhood expands into social trading with new platform, aiming to capture Millennials and compete with WallStreetBets, signaling a shift towards community-driven investing.
Major U.S. companies report mixed earnings amid economic uncertainty; notable is GameStop’s strong sales growth and Synopsys’ earnings miss causing stock drops.
Financial markets remain optimistic with record highs on Wall Street amid expectations of Federal Reserve rate cuts, despite concerns from revised weaker jobs data.
European and Asian markets rally with increased investment hopes, underscored by tech giants’ aggressive AI spending and foreign direct investment shifts.
Rivian announces workforce cuts amid rollout plans for affordable EV models while Tesla Energy unveils new energy storage products amid China’s EV sales challenges.