Finance
S&P 500 Profit Growth Tracking Above 47% as Disney, CVS, Uber and DoorDash Report Wednesday
Roughly 300 index members have reported second-quarter results, with about 85% beating estimates, though most of the growth is concentrated in a handful of AI-spending giants.
Amazon Reports $200.6 Billion in Quarterly Revenue as AWS Grows 37%; Raises 2026 Capital Spending Plan to About $220 Billion
Amazon's cloud unit posted its fastest growth in 18 quarters and the stock rose sharply, while free cash flow turned negative and the company added debt to fund AI data centers.
Apple Stock Falls About 7% After September-Quarter Revenue Forecast Trails Analyst Estimates
Apple reported record June-quarter revenue and profit, then guided September-quarter growth below Wall Street's consensus, citing a memory-chip shortage that CEO Tim Cook called a "100-year flood."
Fed Holds Rates Steady in 9-3 Vote; 10-Year Treasury Yield Rises to About 4.73%
Three Fed officials dissented in favor of a quarter-point hike on July 29, and long-term borrowing costs climbed to their highest levels in more than a year as markets priced in a possible September increase.
50% U.S. Tariffs on Selected Canadian Goods Are Set to Start Aug. 19 Under a 1930 Law
President Trump signed three proclamations on July 20 using Section 338 of the Tariff Act of 1930 — never before used to set tariffs — covering roughly $20 billion in Canadian imports, and Canada calls the move a violation of the USMCA trade deal.
Nasdaq-100 Enters Correction as Chip Stocks Fall Sharply on Doubts About AI Payoff
A roughly 10% slide from June highs, led by semiconductor and memory shares, has investors split over whether record AI spending is a durable buildout or an overbuilt bet.
Exxon and Chevron Report $26.5 Billion in Combined Second-Quarter Profit as Oil Trades Near $100
The two U.S. oil majors posted sharply higher earnings after a Middle East supply shock lifted crude prices, reviving a congressional push for a windfall profits tax.
June PCE Inflation Eased to 3.7% as Fed Held Rates Steady
The Bureau of Economic Analysis reported headline PCE inflation at 3.7% and core PCE at 3.3% for June 2026, both above the Federal Reserve's 2% target, a day after the Fed left rates unchanged.
U.S. Economy Grew at a 1.5% Annual Rate in the Second Quarter, Below Forecasts
The Bureau of Economic Analysis's first estimate for April–June showed slower headline growth than the 2.1% in the first quarter, with a jump in imports subtracting from the total even as consumer spending accelerated.
Apple and Amazon Report Quarterly Results Thursday, a Day After Microsoft Beat Estimates and Meta's Guidance Fell Short
Microsoft's June-quarter results and steady spending plan lifted its stock Wednesday, while Meta's lower profit and softer sales forecast sent its shares down about 11% after hours; Apple and Amazon report after Thursday's close.