Nvidia offices raided in France

• No signs of housing market relief: Mortgage rates rose to a nearly 23-year high, as the average rate on the standard 30-year fixed mortgage jumped to 7.31%, another sign that the housing market will continue to be stuck in the doldrums (WSJ)
  

• GDP slips a notch: The U.S. economy grew at a 2.1% annual pace from April through June, compared to a 2.2% annual growth from January through March, extending its sturdy performance in the face of higher interest rates (AP)
  

• Nvidia antitrust raid: Nvidia’s (NVDA) French offices were raided by France’s antitrust authority over concerns that the company is engaged in anticompetitive behavior (WSJ)

• The “iPhone of AI”: Apple’s (AAPL) former chief design officer, Jony Ive, is reportedly in discussions with OpenAI to build the “iPhone of artificial intelligence,” aided by over $1 billion in funding from Softbank CEO Masayoshi Son (Verge)
  

• Easing the tension? Beijing and Washington are paving the way for Chinese leader Xi Jinping to visit the U.S., moving ahead with high-level official exchanges and taking other steps to improve the tone of their turbulent relations (WSJ)
  

• Hanging on to the clunkers: CarMax (KMX) was the worst performing stock in the S&P 500 yesterday, falling 13.4%, after the used-car retailer said revenue fell 13.1% from a year earlier in its quarter ended Aug. 31, while net income fell 6% (WSJ)
  

• Billion-dollar IPO dance: Cainiao Smart Logistics Network is the first of Alibaba’s six spin-off companies to test the appetite for new listings, applying to raise at least $1 billion in what is widely expected to be the world’s second-largest IPO this year (SCMP)
  

• Epic Games to cut nearly 900 jobs: Fortnite maker Epic Games announced deep cuts today, roughly 16% of its workforce, citing a slowdown in the popularity of its marquee game, as layoffs continue in the games industry despite market growth (Axios)
  

• Pentagon picks Elon: The Pentagon has awarded Elon Musk’s SpaceX its first confirmed contract for the Starshield network it’s developing, a military-specific version of the company’s Starlink satellite internet system (CNBC)
  

• Engine fires: Hyundai and Kia are recalling a combined 3.37 million vehicles in the US due to the risk of engine fires, telling owners to park outside and away from structures until repairs are complete (Reuters)
  

• Banking green: A landmark federal bill that would protect banks that work with cannabis companies appears headed to the Senate floor after passing out of committee on Wednesday (Axios)
  

• HSBC to acquire Citi’s assets: HSBC (HSBC) is set to acquire Citigroup's (C) China consumer wealth management business, which manages over $3B in assets, as part of the bank's expansion in China (Reuters)

• What if you’re wrong about BTC? (CoinSnacks)

• The second Republican debate (Tangle)

• Should Autoworkers Fear Electric Cars? (Slate)

• Ok the metaverse is officially real (Twitter)

• Silver’s Bull Market Vengeance (Gold Playbook)

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