- The Federal Reserve held interest rates steady but hinted at cuts soon. The Bank of England cut rates.
- The unemployment rate rose to 4.3% in July. Job openings shrank and wage growth has cooled, but consumer sentiment perked up in July.
- Amazon, Apple, Meta, Microsoft, and Pfizer topped earnings estimates. Chevron, Intel, and McDonald’s fell short of profit projections. Starbucks profit met expectations. Boeing posted a wider-than-expected loss and named a new chief executive.
- Tesla replaced Ford as Morgan Stanley’s top U.S. auto pick. And Tesla recalled almost 2 million vehicles. The United States delayed new tariffs on Chinese imports.
- Delta Air sought damages from CrowdStrike and Microsoft. Microsoft confirmed that the outage was due to a cyberattack. The Justice Department is investigating Nvidia.
Despite prior commitments to electric vehicles (EVs), Ford Motor Co. (NYSE: F) seems to be reverting to traditional gasoline-powered trucks, which brings up a question about the feasibility of widespread EV adoption.
Goldman Sachs reports that Nvidia Corp. (NASDAQ: NVDA) will highlight profits made by end customers on its next earnings call. See what else it plans to do to reverse the company’s stock slide.
Increased global copper demand is fueling upside interest in Vale S.A. (NYSE: VALE). See why its industry market share, high dividend, and bullish prospects may make it the single best dividend stock under $17 a share.
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