|  | Nasdaq | 21,169.42 | |
| | S&P | 6,345.06 | |
| | Dow | 44,193.12 | |
| | 10-Year | 4.220% | |
| | Bitcoin | $114,945.50 | |
| | Apple | $213.25 | |
| | Data is provided by |  |
*Stock data as of market close, cryptocurrency data as of 6:00pm ET. Here's what these numbers mean. | - Markets: Stocks finished the day like your traffic-light karma when you've been good, delivering three greens and no reds for the final trading session before President Trump's tariffs kicked in on nearly 70 countries at 12:01am today.
- Stock spotlight: Apple had a particularly good day that led the Nasdaq higher as investors anticipated an announcement from CEO Tim Cook at an afternoon White House meeting with Trump. More on that below…
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TRADE The Apple is promising to invest a little closer to the tree: CEO Tim Cook and President Trump announced yesterday that the tech giant is committing to drop another $100 billion on domestic manufacturing and research. In total, that brings Apple's pledged US spending to $600 billion over the next four years. Cook promised the other $500 billion in February, after Trump imposed tariffs on China, Apple's longtime key manufacturer. Then, instead of Apple shifting its supply chain to the US—a Trump administration goal that Apple has called a non-starter—the company moved much of its manufacturing operations from China to India: - Thanks to that move, India has overtaken China as the top smartphone exporter to the US for the first time ever, the research firm Canalys reported last week.
- Yesterday's announcement of fresh funds from Apple might "soften the White House's ire" over its India pivot, according to Bloomberg Intelligence analysts.
During Trump's first term, Cook managed to avoid some import taxes for Apple. Scoring another exemption this time around could save Apple (and its customers) serious cash, especially in light of an additional tariff against India Trump announced yesterday: Imports from India will face an additional 25% levy—bringing the total to 50%—to punish the country for buying Russian oil, Trump announced before Cook stopped by the White House. India criticized the move as "unjustified and unreasonable," since the US and EU also do billions' worth of trading with Russia. Zoom out: The Trump administration has touted a list of tech giants that are pledging to invest billions of dollars in the US in the near future. In January, a group backed by OpenAI, Oracle, and SoftBank announced its intention to spend $500 billion on AI infrastructure in the US over the next four years…but the venture has struggled to close a single data center deal and is now scaling back its goals, the Wall Street Journal recently reported.—ML | | |
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WORLD  Trump may meet with Putin and Zelensky next week, White House says. Yesterday, a Trump admin official floated the possibility of Trump meeting with Russian President Vladimir Putin in the near future, but stressed that neither a date nor a location had been set yet, and also said POTUS would be open to meeting with both Putin and Ukrainian President Volodymyr Zelensky. Later in the day, Trump told reporters that there was "a very good prospect" of a summit with the three leaders occurring. A new Gallup survey released this morning found that 7 in 10 Ukrainians surveyed in early July said their country should seek a negotiated settlement to end the war as soon as possible.
 An Army sergeant allegedly shot five soldiers at Fort Stewart. The suspect, Sgt. Quornelius Radford, is in custody and is accused of shooting five coworkers with a personal handgun. The five victims are in stable condition, Defense Secretary Pete Hegseth said on X. The gunfire broke out at the Army training base in Georgia yesterday shortly before 11am, prompting the commander to lock down the facility until the afternoon. The commander said that Radford had no prior military disciplinary issues. Investigators were still determining a motive as of this morning.
 Robert F. Kennedy Jr. pulled $500 million of mRNA vaccine funding. The US health secretary canceled 22 projects related to mRNA vaccines and is taking other steps to divest federal funding from the vaccine technology. In a video posted to X, Kennedy said, "After reviewing the science and consulting top experts at NIH and FDA, HHS has determined that mRNA technology poses more risks than benefits for these respiratory viruses." Dr. Jerome Adams, who served as the surgeon general during Trump's first term, said on X, "I've tried to be objective & non-alarmist in response to current HHS actions—but quite frankly this move is going to cost lives…mRNA technology has uses that go far beyond vaccines…and the vaccine they helped develop in record time is credited with saving millions."—HVL
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MEDIA Just like a one-day trip to Disney, we have a lot of ground to cover and limited time to do it. So, let's dive into all the big news from the company that brought us John Carter: Earnings: The company reported a mostly good fiscal Q3 yesterday. Revenue fell short of expectations ($23.65 billion vs. $23.73 billion expected), but earnings beat projections ($1.61 adjusted vs. $1.47 expected). The streaming business was up 6%, with Disney+ and Hulu subscribers on the rise. Which brings us to… Say goodbye to the Hulu app: It will be folded into Disney+ next year, and will replace Star as Disney's international entertainment streaming brand. Say hello to the ESPN app: The Worldwide Leader's standalone app launches on Aug. 21 and will cost $29.99 per month. It will include all of the network's channels while providing you with another way to welcome Stephen A. Smith into your life. And that's not all from ESPN… NFL  ESPN: The already longtime power couple is now moving in together. The NFL is taking a 10% stake in ESPN, pending regulatory approval. In return, ESPN will own the NFL Network and RedZone channel, and will fold the NFL's fantasy product into its own platform. WWE ESPN: A five-year, $1.6 billion agreement that begins in 2026 will give ESPN exclusive rights to big WWE events, including WrestleMania and SummerSlam.—DL | | |
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FOOD & BEV Looks like Grimace will get to pick out a new pair of shoes: McDonald's reported better-than-expected earnings for Q2 yesterday thanks to value deals and some high-profile collabs, like its Minecraft Movie promotion. The fast-food giant raked in $6.84 billion in revenue last quarter, beating Wall Street's expected $6.7 billion, a relief after the previous quarter missed expectations. Global and domestic same-store sales also beat estimates after back-to-back quarters where same-store sales dropped. In May, they were down 3.6%, the largest drop since the second quarter of 2020: - The fast-food chain spent the last quarter beefing up its $5 McValue menu over concerns that its lower-income customers were tightening budgets.
- Customer traffic in the US has declined 2.8% overall at fast-food joints, according to the market research firm Black Box Intelligence.
Looking ahead…McDonald's is hoping to ride the wave of the gold ol' days by bringing back its $2.99 Snack Wrap and promoting its upcoming "Visit McDonaldland" nostalgia play. The Golden Arches also plans to open 2,200 new locations and will start offering new trendy beverages…even if they flopped at CosMc's. But execs warn that even as higher-income customers continue to order out, it's not enough to make up for lower-income customers retreating.—MM | | |
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STAT Germans are all about functionality and thoroughness, or so it goes. Their language does not even have a word for "convenience," after all. But now they've gone and revealed something relatable: According to the Washington Post, they are suffering a national identity crisis because their trains no longer run on time. Deutsche Bahn, the national railway company of Germany, said that only 56% of its long-distance trains arrived within six minutes of the scheduled time in July. That's down from the low- to mid-60% range it hung out in for most of last year, and a fall from grace compared to the 85% on-time rate of the 1990s. The federal chairman of Pro Bahn, an advocacy organization for German rail passengers, said the problem boils down to three decades of underinvestment in train infrastructure. In an attempt to play catch-up, the German Finance Ministry has allocated a record $25 billion for rail improvements this year. Still, to bring it back to the realm of the relatable, the wi-fi on the trains is terrible, and is likely to remain so for a while.—HVL |
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NEWS - United Airlines flights were grounded last night due to a tech outage. After the issue was resolved, 1,000 flights were still delayed and dozens were canceled.
- OpenAI is offering ChatGPT to US government workers for $1 per year. Anthropic is reportedly planning to offer its product, Claude, to federal agencies for as little as $1 as well.
- M&M's-maker Mars is partnering with biotech firm Pairwise to gene-edit cocoa crops.
- Drones may soon deliver coffee, as US Transportation Secretary Sean Duffy revealed a proposal that would allow companies to operate unmanned aerial vehicles (UAVs) beyond the line of sight.
- Claire's, the ear-piercing emporium, filed for Chapter 11 bankruptcy for the second time since 2018.
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PLAY Brew Mini: Today's puzzle is probably named after someone in your office. See what we mean and crush the Mini here. Three Headlines and a Lie Three of these headlines are real and one is faker than a "quick look" around a garage sale. Can you spot the odd one out? - No, a man isn't inside Chicago's Bean, alderman says
- This summer camp started a scholarship for the weirdest kid in school
- A bird dropped a fish on power lines and sparked a brush fire in Canada, firefighters say
- Scarlett Johansson and Adam Driver fighting in 'Marriage Story' is being used by the USDA to scare off wolves and save cattle: 'They need to know humans are bad'
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ANSWER We made up the one about the scholarship for the weirdest kid. If only… Word of the Day Today's Word of the Day is: ire, meaning "intense and openly displayed anger." Thanks to Diane Eadler from Hampshire, IL, for the fiery suggestion. Submit another Word of the Day here. |
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✢ A Note From SmartAsset 1. The Journal of Retirement (winter 2020). The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results. Please follow the link to see the methodologies employed in The Journal of Retirement study. ✳︎ A Note From Miso Robotics This is a paid advertisement for Miso Robotics' Regulation A offering. Please read the offering circular at invest.misorobotics.com. |
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