Hey, Brian. So, there's some counterprogramming going on here at the White House. It seems a trio of fact sheets just being released, saying the president has signed some executive orders on trade, formalizing some moves, some of which he had threatened, some of which are new.The first is the president says he's going to be revoking entirely the dimminimous threshold for all packages coming in from abroad. It'll be taking effect at the end of August. Now, this is something that will affect companies like Sh ...

Monetary Policy Stance - The Federal Reserve decided to leave interest rates unchanged, maintaining the range of 425% to 450% [1] - Two governors dissented, favoring a 025% rate cut [1] - It marks the first time since 1993 that two governors have dissented [2] - Nine votes supported keeping rates on hold [2] Economic Assessment - Export fluctuations continue to impact the data [3] - Growth moderated in the first half of the year [3] - Uncertainty about the economic outlook remains elevated [3][4] - The Fed removed "diminished" from the statement, indicating continued high uncertainty [4] - Inflation remains somewhat elevated [4] - Unemployment is low, and the labor market is solid [4] Forward Guidance - The committee has attended to the risks on both sides of the mandate [5] - The statement does not hint at an imminent rate cut in September [5]

China Market - The company sees an opportunity for tens of thousands more stores in China [1] - The brand has high regard in China, with tremendous opportunity to grow new stores and organically within existing stores [1] - The company created the coffee category in China and now needs to figure out how to compete and continue to grow that category [3] - The company is finding the right partner for its China businesses [1] US Market - The company's big point of difference in the US is the cafe experience [3] - The company needs to continue to give great access for mobile order, drive-thru, and the in-cafe experience [3] - Customer service and connection between barista and customer are rewarded with more business and brand esteem [4] Financial Performance - Comps were up 2%, driven by 6 points of transaction growth in the most recent quarter [2]

AI驱动的广告增长 - Meta等平台受益于AI在广告创建、定位和效果衡量方面的改进 [2] - PWC预测，AI和超个性化广告将推动数字广告收入从去年占总体广告收入的72%增长到2029年的80% [3] - Bank of America认为Meta在受益于AI驱动的广告份额增长方面处于最佳位置 [4] - Citizens认为AI使Meta的内容更具吸引力，从而创造更多的广告展示次数，并使广告更具相关性，提高点击率和转化率 [5] Meta的AI投资与战略 - Meta在过去两年半的时间里一直在加大对AI的投入，并致力于将AI整合到其不同的产品中 [6] - Meta使用AI来更轻松、更经济地创建广告，并更好地定位和衡量这些广告的影响 [7] - Meta推出了AI聊天机器人，目前拥有超过10亿的月活跃用户，旨在提高用户参与度 [8] 宏观经济与广告支出 - 宏观经济的不确定性可能成为Meta的主要不利因素 [1] - WPP将今年的全球广告预测从近8%下调至6%，原因是汽车和零售广告商因关税而减少了广告支出 [4] - Meta的股价在过去两年上涨了约115%，过去一年上涨了约50% [6]

What else are the most important things that we that you need to hear. With us now is Kelly Kowolski, head of investment strategies at Mass Mutual. Kelly, good to have you on set. Good to meet you.Hey, Brian. Thank you. What do you What do you want to What do you want to hear. What do your clients and customers need to hear today.Well, I think what the market is really looking for is the openness to a September cut, which is seems to be sort of a tossup right now if you look at what bond markets are pricing ...

Well, it is not all about the Federal Reserve today. Tonight, Meta and Microsoft both posting earnings. And these numbers and guidance need to be big because the stocks have not only been hot, but they basically control much of the stock market.So, what should you expect. Well, your next guest now loves Meta Stocks. Got a $750 price target on it.It's about another 7% upside from here. Joining us now ahead of Internet Research at Evercore ISI, Mark Mahaney. Mark, take us out of the Fed for a few minutes.What ...

you're right uh to point to the one thing if you look in the numbers one of the points of weakness of the numbers was construction spending and it was construction pretty much all all around and I think that a huge amount of it was related to people waiting for the passage of the big beautiful bill uh the bottom line is that if you're building multif family uh housing uh then you're going to get a much better depreciation if you're building a factory you're getting 100% expensing and so there's a lot of rea ...

Acquisition Overview - Palo Alto Networks is acquiring Cyber Arc for approximately $25 billion [1] - Cyber Arc's stock price remained relatively stable after the announcement, while Palo Alto Networks' stock decreased by about 7% [1] - The deal is largely stock-based, with only about $45 in cash per share [6][7] Rationale for Acquisition - Cyber Arc specializes in identity security, which is becoming increasingly important with the rise of AI agents [2][3] - Cyber Arc addresses the need for AI agents to verify the identities of other AI agents to prevent fraud or unauthorized actions [3] - Palo Alto Networks lacks a strong identity security component within its platform, making Cyber Arc a valuable addition [4] M&A Market Trends - The market is seeing a surge in M&A activity, including Baker Hughes buying Chart Industries for $135 billion and Union Pacific's potential acquisition of NSX for $72 billion [4][5] - High equity prices are making stock a favorable currency for companies to use in acquisitions [5][7] - The Palo Alto Networks-Cyber Arc deal suggests a trend of larger tech companies acquiring specialized cybersecurity firms [8] Cybersecurity and AI - The cybersecurity sector is drawing parallels to the energy sector, with AI foundational models (LLMs) likened to oil, and cybersecurity services likened to oil field services [9] - Companies are expected to acquire infrastructure to support AI development [9]

All right. So, folks, you may not care about the Federal Reserve or interest rates, but you may want to buy a home. And what the Fed does could influence the bond market, which could influence mortgage rates.And guess what. We got new numbers on pending home sales for the month of June. Diana Ols.>> Well, Brian, pending home sales in June dropped just less than 1% from May and we're down 2.8% from June of last year. These counts are based on signed contracts for existing homes. So, people out shopping in Ju ...

what we can expect today in the meetings ahead. Joining us, Stephanie Roth, chief economist at Wolf Research, along with Larry Adam, chief investment officer at Raymond James, and Andrew Scizarowski, strategic income portfolio manager at Morgan Stanley Investment Management. I think that is full team coverage.Andrew, we'll begin with you. What is your expectation from the Fed today. And more importantly, what do you want to hear them say.>> No, thanks for having me. I think look the expectations are low for ...