| | *past 24-hour performance |
| Upcoming Week: | Tuesday: The New York Fed will issue its quarterly Household Debt and Credit Report, tracking how U.S. households fared financially in Q2. Thursday: The focal point will be the release of the Consumer Price Index (CPI) for July. Forecasts suggest consumer prices rose by 0.2% last month, maintaining the pace set in June, with an anticipated annual increase of 3.3%. Friday: To end the week, we’ll get the preliminary August reading of the University of Michigan’s Consumer Sentiment Index (MCSI), along with a GDP reading out of the U.K. | Notable Earnings Calendar: | Monday: KKR (KKR), Palantir Technologies (PLTR), BioNTech (BNTX), Coterra Energy (CTRA), Tyson Foods (TSN), Skyworks Solutions (SWKS), Lucid Group (LCID), Paramount Global (PARA), & Viatris (VTRS) Tuesday: Eli Lilly & Company (LLY), UPS (UPS), Zoetis (ZTS), Duke Energy (DUK), GlobalFoundries (GFS), Barrick Gold (GOLD), Take-Two Interactive (TTWO), & Rivian Automotive (RIVN) Wednesday: The Walt Disney Company (DIS), Honda Motor Company (HMC), Illumina (ILMN), Roblox (RBLX), & U-Haul (UHAL) Thursday: Alibaba Group (BABA), Brookfield Corporation (BN), Wheaton Precious Metals (WPM), News Corporation (NWS), & Novo Nordisk (NVO) Friday: Sony Group (SONY), Spectrum Brands Holding (SPB) & Soho House & Co. (SHCO), & Southern Copper (SCCO) | | Icahn cuts dividend in half: Carl Icahn's Icahn Enterprises (IEP) cut its dividend by 50%, just a few months after short-seller Hindenburg went after the company's payout structure; firm announced a refocus on activism, reducing unsuccessful bets that the stock market was due for a slump. (Reuters)
Berkshire hits $1 trillion: Warren Buffett’s conglomerate posted its highest ever quarterly profit of $36 billion, boosted by its insurance division and strong gains in its massive investment portfolio. Berkshire now has over $1 trillion in total firm assets for the first time ever. (Chris Bloomstram) Astra conducts layoffs: Struggling space company Astra (ASTR) is cutting 25% of its workforce, and restructuring to focus on its spacecraft engine business, which will delay progress on the small rocket it has been developing. (CNBC)
Gold demand is still booming: Net central bank gold purchases totaled 387 tons through the first half of the year – the highest first-half total since the World Gold Council started compiling quarterly data in 2000. (ZeroHedge)
Oil slump hits Aramco: Saudi state oil giant Aramco reported $30.07 billion in net profit in Q2, a drop of nearly 40% from the same period of last year amid a decline in hydrocarbon prices. (CNBC) | | | | | If You're Concerned About How Massive U.S. Debt Could Affect Your Retirement... | You need to see this guide on how to diversify and protect your retirement saving. In it you’ll learn how to protect yourself from surging National Debt... a weakening U.S. Dollar... stock market downturns... and much more. Get your guide here. | SPONSOR |
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| | Investors shouldn't try to time the market: A new report by investment research firm Morningstar reiterates what most longtime investors probably have learned the hard way: Trying to "time the market" constitutes a fool's errand. Read more » | Emerging-market stocks are having a moment: Emerging economies are expected to expand almost 3% quicker than advanced nations over the next three years, led by China, albeit at a slower pace, and India. Read more » |
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| | Silencing the alarm on aspartame and cancer (Peter Attia) The first big antitrust trial of the century is about to start (Matt Stoller) People are excited about what would be a breakthrough in solid state physics, but many experts in the field are cautiously skeptical (NYT) Why cities are unnaturally hot (Reuters) Controversial facial recognition technology comes to the U.K. (The Guardian) Should we actually be spending more on defense? (Noahpinion) | | | | | The long con (you're being lied to) | Most Americans have no idea who's REALLY behind inflation and falling stocks. It's not Putin, Biden, Congress or Wall Street. It's someone much worse. Details here… | SPONSOR |
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