Why don't we put this in context. Uh, two descending votes. How big of a deal is that.>> Well, as you point out, it hasn't happened since 1993. But on the other hand, uh, both Bowman and Waller have been indicating that they wanted to have a cut at this meeting. And most importantly, if you go back to June, we already saw some schisms, some splits start to show up.So, I would say it's just playing out as has been signaled before. I wouldn't overstate it um because uh I think the vast majority of the committ ...

Microsoft's Performance & Outlook - Microsoft's cloud performance was a significant beat, with Azure growth potentially reaching 40% in the near term [1][2] - Microsoft Copilot has surpassed 100 million users [1] - Microsoft's overall growth came in at 39% [1] - Microsoft is exposed to secular trends, making it a core holding for many investors [2] - Microsoft's CFO, Amy Hood, has regained her momentum, effectively managing margins [3] Meta's Performance & AI Focus - Meta's revenue was a key highlight, driven by its advertising business [3][6] - Meta's Reality Labs experienced $4.5 billion in losses, viewed as a long-term investment [4] - Mark Zuckerberg is prioritizing AI, assembling an all-star AI team [5] - Meta's accelerating growth and AI investments are fueling conviction in the AI super investment cycle [5][6] - Meta anticipates talent acquisition to be its second-largest expense after AI infrastructure [7] AI & Competitive Pressure - The industry believes 2025 is a critical year for AI, with continued bullish capital expenditure commentary into 2026 [9] - Apple faces increased pressure to demonstrate its AI strategy and capabilities [10]

Market Trends & Investment Opportunities - Analysts are raising price targets for Microsoft (to $680) and Meta (to $875), indicating positive sentiment following strong earnings reports [1] - The tech sector is experiencing a generational shift driven by AI, impacting infrastructure and usage across various companies [5] - Investor excitement surrounds increased capital expenditure (capex) spending alongside positive earnings results in the tech sector [3] - Microsoft's Co-pilot has surpassed 100 million users, a significant milestone that alleviates prior investor skepticism [3] Company Performance & AI Impact - Microsoft's infrastructure spend is converting into tangible results, reflected in user behavior and AI adoption [2] - Meta's engagement levels are extraordinary given its user base scale [3] - AI tools development, exemplified by GitHub's resources dedicated to Co-pilot, highlights the interdependency within the tech sector [5] Market Dynamics & Potential Shifts - The performance of S&P equal weight index relative to the market cap weighted index suggests potential shifts within the broader market [6][7] - It remains uncertain whether market changes will manifest as a sector shift or an asset allocation shift [9] - Despite overall positive trends in tech, individual stock performance will vary, requiring attention to specific idiosyncratic stories [11]

All right. So, what is what are we seeing in the options market ahead of the August 1 deadline. Are we still start are we still seeing people trying to play it even though we've seen a number of deals get done.>> Yeah, there's definitely opportunities right now in terms of trying to pro buy some downside protection, but largely investors are not particularly bidding up puts ahead of this tariff deadline. It really reflects the fact that investors are not particularly concerned here. as you say uh there's a ...

China's Economy & Trade Talks - China's economy is in relatively good shape, with July data showing improvement compared to June, although growth is not exceeding year-ago levels [1][2] - China has included export controls in trade negotiations, giving them significant leverage, particularly concerning rare earths and critical minerals [3][5] - The inclusion of export controls has created a situation of mutually assured destruction, giving China a choke point over the United States economy [6] Manufacturing Sector - Despite PMI data suggesting weakness, the manufacturing sector in China remains strong and continues to export [9][10] - While exports to the United States have contracted, there has been a surge in exports to Asia, indicating the manufacturing machine is still productive [10] - Manufacturing's strength is crucial as China currently lacks other significant growth drivers [11] Security Concerns & Chip Industry - China is raising potential security risks with chips, potentially as a response to concerns about Huawei [6] - There are concerns about the future ability to geographically track chips, leading to worries about transshipment and potential circumvention of regulations [7]

>> And Isaac was great. Julie Julie had some issues. >> All right.The fed holding interest rates steady. But the decision comes with some dissent. Our senior economics reporter Steve Liesman joins us right now from Washington Steve good morning.>> Yeah it wasn't Love Island at the fed yesterday. Fed Chair Jay Powell and the federal committee having two dissents there. But they made clear the December rate cut is not a done deal.And I asked Powell whether the fed now has more clarity on the outlook because t ...

New York City's real estate market in flux with mayoral candidate Zoran Mandami proposing a rent freeze. Interest rates also in focus as is building security following the deadly shooting at a Midtown office building this week. Joining us to talk about everything that's going on in the real estate world, Robert Refkin, Compass's CEO, and it's nice to see you.You had some great earnings. >> Good to see you, Andrew. Yes, yesterday we had uh record earnings, 10 records, record ibida, free cash flow, IBIDA marg ...

Financial Performance - Comcast 第二季度业绩略好于预期，股价上涨约 5% [1] - 公司营收达到 303 亿美元，超出预期 [2] - 自由现金流为 45 亿美元，其中 29 亿美元返还给股东 [2] Broadband Sector - 宽带收入增长 16% [2] - 宽带用户减少 226,000 [3] - 市场对 Comcast 的宽带用户减少预期为 240,000 到 250,000 [3] Content & Theme Parks - 内容体验收入增长 6%，高于市场普遍预期 [3] - 主题公园销售额增长近 19%，主要得益于 Epic Universe 的开放 [3] Peacock Streaming Service - Peacock 收入同比增长 18% [4] - Peacock 付费用户稳定在 4100 万 [4] Wireless Business - 无线业务迎来有史以来最好的季度 [5] - 无线业务新增用户 378,000 [5] - 无线收入增长 173% [6]

Clinical Trial Results & Drug Performance - Eli Lilly's diabetes drug, Mjaro, met the goal of a phase three trial by cutting the risk of heart disease in people with type 2 diabetes [1] - The trial showed Mjaro delivered an 8% lower rate of cardiovascular events than Trulicity and a 16% reduction in death from any cause [2] - Data strengthens the case for insurers, particularly in other parts of the world where the drug is launching [3] - One doctor worries the results aren't good enough to convince insurers in the US and might limit coverage of Mjaro since it wasn't significantly better than Trulicity [4] - Analysts were looking for a greater than 10% reduction in cardiovascular events [5] Market & Investor Reaction - The stock experienced a decline of approximately 4% [4] - There was disappointment as the drug didn't show it was significantly better than Trulicity [5][6] Emerging Trends - Plastic surgeons' business is booming due to "Ozempic face" (loose skin from weight loss) [7]

It seems to really be the driver today. What does that say to you about the AI trade and the cyclical bull market that everybody says we're in? >> Yeah. Good morning everybody. And it's alive and well, I guess without saying we don't know. I mean, it's justifying this rally. It's justifying this bull market. Been come on you for a couple months saying, "Listen, it's a strong bull market. We have record earnings and new cycle highs in profit margins. Frank, we call those the dual tailwinds to a bull market.I ...