The Fed paused, the long bond blew out, and that one move touched almost everything else. It hit financing costs, AI valuations, energy risk, and the market's appetite for leverage all at once.

• Fed decision

• Why the bond market reacted hard

• Fed tools, credibility, and dissent

• Energy complicates the inflation picture

• AI capex meets higher rates

• Microsoft and Meta

• Semis, memory, and leverage unwind

• Positioning and rotation

• Open-source models, security, and policy

• Real-economy read-through

• What to watch next

Sources:

• CNBC's "Fast Money" — Major Earnings After the Close… And the Fed Keeps Rates Unchanged 7/29/26: https://www.cnbc.com/

• Closing Bell — Stocks Sell Off Sharply Into Close Following Warsh Presser; Meta and Microsoft Diverge 7/29/26: https://www.cnbc.com/

• Power Lunch — Power Lunch 7/29/26: https://www.cnbc.com/

• Squawk on the Street — CNBC Investing Club: Cramer’s Morning Take on P&G 7/29/26: https://www.cnbc.com/

• The Exchange — Countdown to the Fed Decision 7/29/26: https://www.cnbc.com/

• Halftime Report — Fed and Tech Earnings in Focus 7/29/26: https://www.cnbc.com/

• Squawk Pod — Hugging Face Hack, SK Hynix, & Senior Scams 7/29/26: https://www.cnbc.com/

• Squawk on the Street — 11AM Hour: The Case for a Rate Hike, CEOs of Mondelēz and Teva on Earnings 7/29/26: https://www.cnbc.com/

• Squawk on the Street — 10AM Hour: SOFI CEO, Zuckerberg’s AI Vendetta, SK Hynix Results Fail to Impress 7/29/26: https://www.cnbc.com/

• Squawk on the Street — 9am Hour: Fed Decision Day: SK Hynix Effect on Chips, Dow Tumbles, Oil Surges 7/29/26: https://www.cnbc.com/

• Worldwide Exchange — AI spending, Fed policy and market rotation drive the outlook 7/29/26: https://www.cnbc.com/