🛬 More bad news for Boeing

🎞️ And Paramount is dying a slow death

xx

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📰 Market Headlines

  • Tech stocks spearheaded a market rally as cooler producer prices set the stage for today’s CPI report.

    • The Nasdaq surged 2.4%, and the S&P 500 rose 1.7%, marking their best five-day stretch since November.

    • Nvidia shares jumped 7% after being named a “top rebound stock”, while Starbucks soared 24% on a surprise CEO change.

  • Markets now see a 55% chance of a 50-basis-point Fed rate cut in September, up from less than 50% before the PPI report.

  • The US approved a $20 billion weapons package for Israel, including F-15 jets and tank ammunition.

  • The United Auto Workers filed labor charges against former President Trump and Elon Musk for alleged worker intimidation.

🕶️ Market Vibes

🎰 Market Forecasts and Futures

Forecasts via ​Kalshi​, the prediction market.

😱 Fear and Greed Index

🎤 What you said last time

📈 Trends you need to know

Kamala Harris is now a slight favorite to beat former President Trump.

🧠 What do you think?

Who is winning the US election in November?

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📊 Stocks

Get $20 free shares at ​public.com​ using code ALTSCO.

Winners and losers

Earnings, upgrades, and acquisitions

  • Home Depot beat Q2 expectations; shares rose over 1%.

  • On Holding posted revenue of $300 million, surpassing analysts' estimates, but shares dropped 0.53%.

Market movers

  • Google unveiled new AI-powered Pixel phones, starting at $799, up $100 from the previous model.

  • Rheinmetall acquired US military vehicle parts maker Loc Performance for $950 million.

  • General Motors recalled 21,469 electric SUVs over unexpected anti-lock brake system activation.

  • Texas sued General Motors for allegedly collecting and selling drivers' private data without consent.

  • Boeing discovered a new electrical issue on its 737s, potentially delaying deliveries.

  • Ford and Mazda warned owners of 475,000 older vehicles to stop driving due to dangerous Takata airbags.

  • Big Lots announced the closure of 315 stores during ongoing financial troubles.

  • Paramount Global slashed 2,000 jobs and shuttered Paramount Television studio.

Ideas, trends, and analysis

  • In recent polls, Vice President Harris ranked better than former President Trump and President Biden, with 42% of voters trusting her most to handle economic issues.

  • Researchers saw that US-born employment increased by 740,000 in 2023.

  • West Virginia topped the list of most affordable US states for retirement in 2024.

Recommended Newsletter

🌍 Global Perspectives

  • 🇺🇦 🇷🇺 Ukraine claimed control over 74 settlements in Russia's Kursk region after a surprise cross-border operation.

  • 🇧🇷 Brazilian authorities identified 35 bodies from the 62 killed in a plane crash near Vinhedo last week.

  • 🇷🇸 Tens of thousands in Serbia rallied against lithium mining, defying government warnings of an alleged coup plot.

  • 🇬🇷 A major wildfire raged out of control on Athens' northern fringes, forcing evacuations of hospitals and suburbs.

📊 Crypto

  • Four US senators introduced a bill to exempt low-value crypto transactions under $200 from capital gains tax.

  • Bitcoin climbed almost 5% to $61,500 as the market reacted positively to $2 billion worth of Mt. Gox Bitcoin moving to distribution wallets.

  • Coinbase resumed cryptocurrency services in Hawaii following regulatory changes that provide clarity for crypto firms.

  • Three Arrows Capital liquidators sued Terraform Labs for $1.3 billion, alleging market manipulation that led to the fund's collapse.

🧠 Errata

  • An American Airlines flight made an emergency landing after passengers spotted lice in a woman's hair.

  • Scientists discovered oceans of water on Mars.

  • A convicted murderer escaped custody while being transported to a North Carolina hospital.

📺 What to Watch Today

That’s all for today. Did I miss anything? Smash the reply button to let me know.

Cheers,

Wyatt

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