Morning Brief

Stocks hold steady after the S&P 500 closes at its 10th record high in 19 sessions, though some warn of a bubble amid rising retail trading. President Trump and Fed Chair Powell tour the Fed’s renovation site, downplaying any rift as Trump again calls for rate cuts. Intel (INTC) falls after the CEO signals more cost-cutting and cancels factory projects. Paramount (PARA) and Skydance win FCC approval for their merger, while Centene (CNC), Sunnova (NOVA), and Deckers (DECK) are trending tickers. Crypto treasuries and balance sheet strategies also make headlines.

Takeaways:

S&P 500 extends record run, but bubble warnings grow louder

Trump and Powell downplay tensions; Fed rate cut hopes linger

Intel stock tumbles on cost-cutting, factory delays; Paramount, Skydance merger clears FCC

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US stocks are mixed as Alphabet (GOOGL) jumps on strong AI-fueled earnings and an $85 billion capital expenditures plan, while Tesla (TSLA) slumps after warning of a tough road ahead and slower EV sales. President Trump says reciprocal tariffs won’t fall below 15% and could go as high as 50% for some countries. Chipotle (CMG), UnitedHealth (UNH), and Dow (DOW) are also in focus, with UnitedHealth confirming a DOJ probe and Dow cutting its dividend.

Takeaways:

Alphabet surges on AI growth, $85B spending plan

Tesla warns of rough quarters ahead as sales slow

Trump signals 15-50% tariffs as August deadline nears

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US stocks climb after the White House announces a 15% tariff deal with Japan, sparing the country from a steeper hike and launching a $550 billion Japanese investment fund in the US. The news lifts Japanese automakers and boosts optimism for future EU deals. Meme stock mania returns as GoPro (GPRO), Krispy Kreme (DNUT), and Beyond Meat (BYND) surge on heavy retail trader volume. Investors look to Tesla (TSLA) and Alphabet (GOOGL) earnings after the bell for clues on the Magnificent Seven rally. Texas Instruments (TXN), AT&T (T), and Fiserv (FI) are also in focus.

Takeaways:

S&P 500 hits record as Japan trade deal, tech earnings, and meme rally boost sentiment

Meme stocks surge, retail traders drive 21% of US equity volume

Investors await Tesla and Alphabet earnings, eye Magnificent Seven’s next move

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US stocks hold near record highs as investors eye ongoing U.S.-China tariff talks and watch for second quarter earnings from giants like General Motors (GM) and Coca-Cola (KO). GM reported a $1.1 billion profit hit from Trump’s tariffs with no near-term fix, while Coke beat expectations and will launch a new cane sugar product this fall. Fed Chair Powell faces growing political pressure as he delivers remarks before next week’s policy meeting. Treasury Secretary Bessett’s China talks could delay an August tariff deadline. Lockheed Martin (LMT), AstraZeneca (AZN), and DR Horton (DHI) are among trending tickers.

Takeaways:

Stocks near record highs as tariff and Fed uncertainty continue

GM sees $1.1B tariff hit; Coca-Cola beats and plans new cane sugar launch

Market shrugs off trade headlines, eyes second quarter earnings

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US stock futures point to gains as investors brace for the Aug. 1 tariff deadline and look ahead to key earnings from Alphabet (GOOGL) and Tesla (TSLA). Commerce Secretary Lunik says tariffs will take effect even if negotiations continue, but the Treasury hints at some flexibility. Fed Chair Powell is set to speak before next week’s policy meeting as internal debate on rate cuts continues. The Genius Act heads to Trump’s desk, sending crypto’s market cap above $4 trillion—ethereum rallies, while Trump Media’s (DJT) bitcoin holdings draw scrutiny. Verizon (VZ), Alaska Airlines (ALK), and Microsoft (MSFT) are among trending tickers.

Takeaways:

Tariff deadline nears as trade talks continue; tech earnings in focus

Crypto assets top $4T as the Genius Act passes; ethereum and bitcoin surge

S&P 500 climbs; investors weigh Mag 7 vs. broader market opportunities

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US stocks pointed to new highs as second quarter earnings boost sentiment, even as the Federal Reserve grows more divided. Fed Governor Waller called for a July rate cut to support a cooling labor market, putting him in line with President Trump and at odds with other Fed officials. The Genius Act—the first US crypto law—heads to Trump’s desk, sending crypto’s market cap above $4 trillion, with ethereum (ETH-USD) a standout winner. Chevron (CVX) finalized its $53B Hess deal, while Talen Energy (TLN), 3M (MMM), and Netflix (NFLX) were among notable movers.

Takeaways:

S&P 500 and Nasdaq notch new highs as earnings season heats up

Fed division grows on rates; Waller pushes for cut as others urge caution

Genius Act passes, fueling crypto rally; Chevron completes Hess deal

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US stocks opened mixed as investors weighed President Trump’s denial that he plans to fire Fed Chair Powell, while New York Fed president John Williams warned tariffs could drive inflation as high as 3.5% in 2025. The odds of a September Fed rate cut have dropped to 50/50. Taiwan Semiconductor (TSMC) rallied on blowout earnings, while GE Aerospace (GE) and PepsiCo (PEP) also posted strong results. Retail sales surged 0.6% in June, signaling the consumer remains resilient despite tariffs. Market pros say volatility could spike in August, even as stocks grind higher.

Takeaways:

Trump denies firing Powell; Fed signals caution as tariffs lift inflation

TSMC jumps on 61% profit gain; GE Aerospace and Pepsi beat expectations

Retail sales and jobless claims show continued consumer strength

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US producer prices were flat in June, keeping Fed rate cut hopes alive despite recent signs of tariff-driven inflation in some categories. Big banks, including Goldman Sachs (⁠GS⁠), Morgan Stanley (⁠MS⁠), and Bank of America (⁠BAC⁠), posted record trading profits, lifted by market volatility. President Trump says he has the GOP support to pass major crypto legislation as bitcoin hovers near $120,000. The consumer remains resilient, with bank CEOs noting solid spending.

Takeaways:

Producer prices unchanged in June; Fed may keep rates steady

Goldman Sachs, Morgan Stanley, BofA report record trading profits

House set to vote on crypto regulation as bitcoin stays strong

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US inflation in June was just below expectations, with core CPI up 0.2% month-over-month and 2.9% year-over-year. Tariff impacts are starting to show in apparel and furniture prices, but overall inflation remains contained. Nvidia (NVDA) and AMD (AMD) surged after the US signaled they can resume some AI chip sales to China, boosting the Nasdaq. Big banks kicked off earnings season with strong results from JPMorgan (JPM), while Wells Fargo (WFC) and Citigroup (C) saw mixed results.

Takeaways:

Core inflation rises less than expected; tariffs start to lift select prices

Nvidia and AMD rally as US signals green light for China chip sales

Big banks post strong earnings, but sector results are mixed

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President Trump threatens 30% tariffs on the EU and Mexico as global trade tensions mount, and the EU hints at possible coordination with other US trading partners. Stocks retreat after recent highs, while bitcoin (BTC-USD) hits a new record above $123,000 as Crypto Week begins in Congress. Investors eye upcoming CPI data and earnings for signs of tariff impact, and top strategist Mohamed El-Erian warns of choppiness as global supply chains adjust.

Takeaways:

Trump targets EU, Mexico with new tariff threats, EU signals pushback

Bitcoin surges past $123,000 as regulatory momentum builds

Investors brace for inflation data, earnings, and more market volatility

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