Markets are jolted by a new Chinese open-source AI model, rising oil prices after strikes in Iran, and a broad risk-off move hitting tech futures. The episode also breaks down Netflix’s disclosure changes, standout earnings from Travelers and regional banks, and the key macro data and calls to watch before the opening bell.

Show Notes

• Travelers Earnings Beat Estimates. Does It Prove Recent Downgrades ...: https://www.barrons.com/articles/travelers-earnings-stock-price-c4c3ef99
• Netflix Stock Drops on Revenue Miss, Engagement Update: https://www.barrons.com/articles/netflix-earnings-stock-price-4fb3e0df

Markets open in risk-off mode as PayPal rejects a $60.50 takeover bid, semiconductor stocks slide on a global tech hangover, and defensive names like UnitedHealth and Verizon catch a bid. Later in the day, traders watch June retail sales, the Philly Fed, and Netflix earnings for clues on whether the tape can stabilize or extend the selloff.

A surprise all-cash takeover offer for PayPal sparks a broad market reaction, with tech futures lifted by semiconductor strength and major movers in financials and healthcare. The episode also breaks down the deal’s antitrust and financing risks while previewing key inflation data, Fed testimony, and the next round of retail sales figures.

Wall Street’s pre-market is being pulled in two directions as Goldman Sachs posts a huge earnings beat while traders brace for the June CPI report. We break down the bank earnings split, inflation expectations, and why the first move after the open may be a head fake.