In the past week:
- Wall Street adjusted to a new Democratic presidential candidate. Bitcoin and gold popped in response. Big tech stocks and the Nasdaq took a hit midweek. Strong GDP data boosted the Dow Jones industrials.
- Alphabet and General Motors beat profit estimates. Ford, Tesla, and Verizon fell short. Comcast and Visa posted mixed results.
- Boeing received big orders for 787s at the UK air show. Southwest Air abandoned open seating. McDonald’s extended its $5 meal deal. Etherium ETFs began trading.
- The FDA recalled vegetables sold by Kroger, Walmart, and others. The FTC probed AI-powered “surveillance pricing.”
- Inflation cooled in June. Corporate bankruptcies were at their highest in a decade. China cut interest rates. A noted short seller was charged with fraud.
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