Morning Brief

Nvidia (NVDA) stock edged lower after reporting record Q2 earnings but softer-than-expected data center revenue, signaling growth may moderate after a massive AI-driven boom. CEO Jensen Huang told Yahoo Finance that demand remains strong even without China sales, but investors are parsing export risks and new product outlooks. US stocks hold steady after GDP was revised up to 3.3%, with PCE inflation data due Friday and jobs data next week. Mexico plans to raise tariffs on China in its 2026 budget proposal, targeting cars, textiles, and plastics under pressure from the US. Meanwhile, Snowflake (SNOW) jumps on strong guidance, Warren Buffett’s Berkshire Hathaway (BRK-A) boosts stakes in Japan’s trading houses, and Best Buy (BBY) tops estimates but sticks with its forecast, citing tariff risks.

Takeaways:

Nvidia beats earnings but data center growth slows; China outlook in focus

US GDP revised up; PCE and jobs data next key tests for Fed rate cuts

Mexico to hike tariffs on China imports as trade tensions rise

Snowflake rallies, Buffett bets on Japan, Best Buy cautious on tariffs

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US stocks pull back after last week’s Fed-fueled rally, with investors betting on rate cuts but watching key data ahead of the September FOMC meeting. Nvidia (NVDA) reported earnings on Wednesday, a critical test for the AI trade. Analysts eye data center growth, sovereign AI, and China sales—crypto surges as ethereum hits record highs, boosting Coinbase (COIN) and Circle. Meanwhile, Keurig Dr Pepper (KDP) strikes an $18B deal to acquire JDE Peet’s (JDEP.AS), planning to split its coffee and beverage units into two US-listed companies. Intel (INTC) jumps after the US government takes a 10% stake under the CHIPS Act, Wayfair (W) sinks on new tariff probes, and Ørsted (ORSTED.CO) slumps after the US blocks a central offshore wind farm.

Takeaways:

Fed rally fades; markets eye PCE data and September rate cut bets

Nvidia earnings loom as AI trade faces critical test

ethereum surge lifts crypto plays; Circle and Coinbase benefit

Keurig Dr Pepper in $18B JDE Peet’s deal; Intel, Wayfair, Ørsted move on policy news

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US stocks slide as the Federal Reserve kicks off its Jackson Hole Symposium, with investors awaiting Chair Jerome Powell’s speech on interest rates. Walmart (WMT) posts its first earnings miss in three years, citing one-time costs, but raises full-year guidance. Tech stocks retreat in a sharp rotation: Palantir (PLTR) tumbles more than 15% from last week’s highs as retail traders buy the dip, while Nvidia (NVDA) gains fresh price target boosts from UBS and Wedbush ahead of next week’s results. Meanwhile, the US and EU finalized trade deal details, Boeing (⁠BA⁠) explored a 500-jet sale to China, and Dayforce (⁠DAY⁠) confirmed a $12.3B buyout by Thoma Bravo.

Takeaways:

Fed’s Jackson Hole meeting begins with Powell’s speech in focus

Walmart earnings miss, drags stock despite higher guidance

Palantir plunges as tech sell-off deepens; Nvidia outlook in spotlight

Boeing in China jet talks, Dayforce in $12.3B Thoma Bravo deal

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US markets were steady after Tuesday’s tech sell-off that saw Palantir (PLTR) drop 10%, Nvidia (NVDA) and AMD (AMD) tumble, and Broadcom (AVGO) slip. Investors brace for Nvidia earnings next week, with questions over China exposure. Target (TGT) names COO Michael Fiddelke as new CEO, replacing Brian Cornell, sending stock down more than 10% as Wall Street had hoped for an outsider. Lowe’s (LOW) rises after reporting earnings and announcing an acquisition of Foundation Building Materials. Meanwhile, reports suggest the US government may take non-voting equity stakes in chipmakers including Intel (INTC), TSMC (TSM), Samsung (005930.KS), and Micron (MU) through the CHIPS Act. TJX (TJX) surges on strong guidance, Estee Lauder (EL) slides on tariffs and weak outlook, and Dayforce (DAY) confirms buyout talks with Thoma Bravo.

Takeaways:

Tech pullback pressures Palantir, Nvidia, AMD, and Broadcom

Target stock sinks as insider Fiddelke named CEO, Lowe’s gains on deal and results

The US may take equity stakes in Intel, TSMC, Samsung, and Micron under the CHIPS Act

TJX rallies, Estee Lauder slumps, Dayforce in $11.2B buyout talks

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US markets pause near record levels as investors await Fed Chair Powell’s Jackson Hole speech, with traders betting on a September rate cut. Home Depot (HD) rises after July trends improve, offsetting an earnings miss. SoftBank invests $2B in Intel (INTC), while Nvidia (NVDA) develops a new AI chip for China to work around export restrictions.

Takeaways:

Stocks hover near record highs as Fed policy signals remain in focus

Home Depot gains despite weaker results, buoyed by small project demand

SoftBank bets $2B on Intel turnaround, boosting semiconductor sentiment

Nvidia working on China-specific AI chip amid US export curbs

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Stock futures hover near record highs ahead of Fed Chair Powell’s final Jackson Hole speech, with investors betting on a September rate cut. Retail earnings from Walmart (WMT), Target (TGT), and Lowe’s (LOW) are in focus, while Novo Nordisk (NVO) surges on expanded drug approval. Soho House (MCG) also announces a $2.7B go-private deal.

Takeaways:

Powell’s last Jackson Hole speech could set the stage for a September rate cut

Markets remain resilient with tech and Q2 earnings fueling record highs

Walmart, Target, and Lowe’s headline a big week for retail earnings

Novo Nordisk gains FDA approval for Wegovy in liver disease, boosting stock

Soho House to go private in $2.7B deal with Ashton Kutcher joining the board

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US stock futures fell after July’s Producer Price Index showed the sharpest wholesale inflation jump in three years, driven by higher service costs. The data complicates Fed rate-cut expectations as markets still price in a September move. Bitcoin touched $124K before slipping, while ethereum and Solana also traded near records on growing institutional adoption. Earnings movers included Deere (DE), which went down after cutting its outlook, Tapestry (TPR) on tariff-hit profit guidance, and Birkenstock (BIRK) on strong pricing power.

Takeaways:

PPI data fuels inflation concerns, clouds Fed’s September path

Crypto rally pauses after bitcoin’s record high

Deere, Tapestry, Birkenstock in focus on earnings and tariff impacts

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US stock futures edge higher as investors bet on a September Fed rate cut following July CPI data. Treasury Secretary Scott Bessent calls for a 50-basis-point move, though economists remain split. CoreWeave stock slid on weak guidance tied to AI data center buildouts. Mediterranean chain Cava (CAVA) sinks after cutting sales growth outlook for the first time since going public. Crypto exchange Bullish (BLSH) raises $1.1 billion in its NYSE debut, backed by Tom Farley, Peter Thiel, and BlackRock. Trending tickers include Tencent (TCEHY), Brinker International (EAT), and several airline stocks after airfare prices rose for the first time in six months.

Takeaways:

Markets price in >90% chance of September Fed rate cut

Kava slashes sales outlook, stock sinks over 20%

Bullish IPO surges onto NYSE with $1.1B raise

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US stock futures dip after July CPI is hotter than expected, with core inflation hitting 3.1% year-over-year. Markets now see a higher risk that the Fed will cut rates sooner under pressure from the White House. President Trump removes Intel (INTC) CEO Lip-Bu Tan from his AI advisory role, fueling speculation about leadership changes at the chipmaker. Treasury yields climb, gold steadies, and oil rises on supply concerns. Coinbase (COIN) jumps as crypto market cap tops $4.2 trillion, while Target (TGT) warns on tariffs ahead of earnings. Rivian (RIVN) and Roblox (RBLX) are also trending.

Takeaways:

CPI hotter than expected, reigniting Fed rate cut timing debate

Trump removes Intel CEO from AI advisory role; market eyes company’s next steps

Crypto rallies, oil gains, Target warns on tariff impact ahead of earnings

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US stock futures tick higher ahead of July CPI data, expected to show core inflation rising to 3%. Markets hover near records, with the Nasdaq at a fresh high. Nvidia (NVDA) and AMD (AMD) reportedly agree to give the US 15% of China chip sales revenue in exchange for export licenses. Intel (INTC) CEO Lip-Bu Tan is set to meet with President Trump after calls for his removal over China ties. Citi raises its S&P 500 year-end target to 6,600, citing tax cut offsets to tariffs. Cava (⁠CAVA⁠) and On Holding (⁠ONON⁠) earnings are on deck, along with key IPOs CoreWeave and Circle. Paramount (PARA), Tesla (TSLA), and Coinbase (COIN) are trending.

Takeaways:

CPI data expected to tick up; Fed watching tariff impact on inflation

Nvidia, AMD to give US share of China chip sales for export clearance

Intel CEO meets Trump; Cava, On Holding earnings in focus; IPOs CoreWeave, Circle loom

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