Jill Biden’s top aide bails on House investigation in Biden fitness

Market Summary

US equities hit record highs with Nasdaq and S&P 500 pacing the rally, fueled by strong earnings momentum from leading tech and consumer stocks. Market sentiment remains cautiously optimistic despite tariff tensions and political pressures. Volatility is subdued, with sectors like semiconductors and telecoms showing strength amid AI investment and regulatory scrutiny.

Figure of the Day

1,062 – Confirmed Iranian fatalities amid Israel conflict as of latest update.

Bullish

Verizon Raises Profit Forecast on Strong Plan Demand and Tax Reforms

Verizon upgrades its profit outlook backed by robust subscriber growth in premium plans and advantageous tax reform impacts, signaling business resilience in competitive telecom sector.
More on fastcompany.com

Bearish

Stellantis Warns of $2.7 Billion H1 Loss Hit by Tariffs and Charges

Automaker Stellantis projects substantial first-half losses driven by US tariffs and restructuring charges, highlighting mounting headwinds in the global automotive industry.
More on apnews.com

Regulatory Impact

UK government greenlights £38bn Sizewell C nuclear plant project, becoming the main shareholder alongside private partners, marking a significant infrastructure investment after 15 years of efforts.

Quote

“The entire Federal Reserve institution needs a comprehensive review to assess its success and future role.”

— Scott Bessent, U.S. Treasury Secretary