>> BREAKING NEWS TONIGHT. TENS OF THOUSANDS FLEEING THEIR HOMES AS WILDFIRES BURN OUT OF CONTROL OUT WEST, FLAMES RIPPING THROUGH COMMUNITIES. AT LEAST 700 HOMES AND BUILDINGS DESTROYED, CARS BURNED OUT, NEIGHBORHOODS BURNED OFF THE MAP.THIS HOMEOWNER FILMING THE INFERNO, TORCHING HIS HOUSE. THE RACE RIGHT NOW TO STOP THE FLAMES. THE FIRST REPORTED DEATH JUST ANNOUNCED IN THE LETTUCE LINKED OUTBREAK.SO IS IT STILL SPREADING. AND DOES IT GO BEYOND LETTUCE. WHAT YOU NEED TO KNOW.SEA PLANE CRASH RESCUE. NEW VI ...

Market Trends & Macroeconomic Environment - S&P 500 closed above all key moving averages after a turbulent July with back-to-back gains[1], while the Nasdaq 100 and Nasdaq Composite each rose about 2%[119] - Oil prices dropped 5% on a weekly basis and 5% on a daily basis, having a significant downward impact on energy costs[2] - U.S.-led currency intervention to contain the drop in the yen kept Japan from selling U.S. Treasuries, contributing to a bond market rally and lower yields[3] - U.S. factory activity surged to the highest level since 2022, with manufacturers increasing headcount for the first time since 2023[5][6] - The Federal Reserve held the federal funds rate at 3.5% to 3.75%, while forward-looking inflation metrics remained anchored[17][20] - The default rate across 1,300 U.S. private debt borrowers rose to a high of 6%, though rating methodology differences across agencies contributed to varying default rate calculations[51][54] Corporate Earnings & Financial Performance - S&P 500 Q2 earnings growth reached 35% to 40%, largely driven by technology, while valuations dropped back down to some of the lowest levels seen since 2020[8][10] - Palantir reported strong Q2 results, raising its full-year revenue guidance from a range of $7.66 billion to a tight range of $8.15 billion to $8.16 billion[111] - On Semiconductor reported adjusted EPS of $0.74 and quarterly revenue of $1.6 billion, beating analyst estimates[115] - Amazon crossed a $3 trillion market cap for the first time, becoming the fifth company ever to reach this milestone, while Boeing shares rose 8% following FAA certification for the 737 Max 7[103][104][105] Industry Developments & Potential Risks - The White House outlined $200 billion in spending per year to support individual scientists and private research facilities, with up to $5 billion allocated toward AI research and streamlined FDA review processes[23][31][32] - Bristol-Myers Squibb and AstraZeneca held early-stage talks regarding a potential megamerger that could become the largest pharma deal in history, though AstraZeneca shares fell as much as 10% amid investor pushback[39][40] - Yum Brands faced pressure and a 3% share decline following a parasitic Cyclospora outbreak tied to iceberg lettuce in Michigan that prompted early health authority investigations[49][109] - Yellow Card raised a $40 million funding round backed by strategic investors including SC Ventures and Sony Innovation Fund to expand its global stablecoin infrastructure and cross-border payment accounts[159][160][162]

Financial Performance and Earnings Distortion - S&P 500 year-over-year earnings growth approached 50% [2] - S&P earnings growth dropped to approximately 29% after stripping out mark-to-market investment gains, aligning closer to the analyst consensus of 24% [3] - Amazon recorded about 240% year-over-year earnings growth, which reduced to nearly 17% after excluding AI portfolio gains, amounting to a round number gain of 53 billion dollars [4] - Alphabet experienced roughly 300% earnings growth, which adjusted closer to 23% without mark-to-market gains [4] - Alphabet reported equity securities gains of 99 billion dollars, compared to nearly 1 billion dollars from the previous year [5] - Microsoft experienced a more muted impact, receiving about a 10 percentage point boost from its portfolio [6] Industry Trends and Venture Capital Impact - Massive recent quarter earnings growth across Amazon, Microsoft, and Alphabet was primarily driven by venture capital portfolios rather than underlying businesses [1] - Tech giants hold significant stakes in OpenAI and Anthropic, with Amazon backing OpenAI early and investing in Anthropic, and Microsoft showing deep ties to the AI ecosystem [1][4][6] - Alphabet benefited significantly from a roughly 5% stake in SpaceX, which heavily impacted quarterly income statements [2][5] - Investment gains are categorized under other income, resulting in varying degrees of financial transparency across technology companies [3]

Stocks higher across the board today. Big tech jumping and a drop in oil prices helping to clear the [music] way. The Dow gaining 700 points to close at a record close.S&P 500 up one and a half%. The Nasdaq, the big winner, [music] up more than 2%. The S&P 500 failing to hold on to that 7600 level.It was close to the close. The closing record, by the way, 7609 that was set on [music] June 2nd. Amazon and Microsoft continuing their post earnings rally.Both stocks up more [music] than 20% in just the past fiv ...

Our next guest is the so-called dean evaluation oswat the motor and NYU Stern School of Business professor of finance. Welcome back. It's nice to see you.>> Thank you for having me. >> You have multiple headline comments that I that I want to get to, but I want to I want to start with because the hyperscalers are having such a nice bump today on the on the back of their earnings. Uh the big question is how much the correction will continue.My bet is that we hit peak AI a few months ago and that there will b ...

Welcome back everyone. Today on the Jel Carlson show, sentiment is changing rapidly for the big hyperscaler stocks. The ones that are spending on all the capex, the companies I've invested into, these ones are going up and they're going up quickly.They're being led by Amazon and Amazon is the primary driver here. Amazon has now reached $285 per share. It's up 5% on the day and Amazon is racing upwards. In fact, in just the past five business days, it's up 23%.That makes up for almost all of its gains this y ...

If Amazon and Microsoft were to successfully make the case for continued capex's earnings season, does it make them also the best position to win the next leg of the AI race? Let's ask Gil Laura. He's head of technology research at DA Davidson. I I again I love looking back at the history of this Gil. Microsoft was first out of the gate. They were the golden child after Chat GPT. They had the Open AI collab. Uh they it was all about Microsoft until it wasn't, which was up until about last week. So, you thin ...

company's ownership stakes in anthropic or open AI, they could be distorting the S&P 500 earnings picture. Kate Rooney has some details for us. Kate, >> hey, David.So, Amazon, Microsoft, and Alphabet all saw massive earnings growth in the recent quarter, but if you look past some of the headline numbers, it was mostly due to their venture capital portfolios, not the underlying business. So, these companies have significant stakes in OpenAI and Anthropic. In the case of Alphabet, you've got SpaceX as well as ...

Yeah, Alphabet surging more than 5% this morning and eclipsing Apple in market value now behind only Nvidia. Yet, it is still trailing the renewed hyperscaler rally. Microsoft and Amazon have outpaced Alphabet by nearly 10 points in five sessions.Now, Google's problem is not AI demand. Cloud revenue and backlog both grew more than 80% while Google Cloud is converting each new dollar of revenue into additional operating profit at nearly the same rate as AWS despite growing more than twice as fast. Now, I've ...

Amazon is back to a record high for the first time in three months and topping three trillion in market cap for the first time. It's also coming off its best week in over a decade while Microsoft is coming off its best week since the turn of the century. Now, Alphabet, let's go back to how they kicked off earning season for these hyperscalers, so to speak.The shares sank 7% when they originally reported results, including that higher capex forecast for this year. So, why the divergence. Mackenzie Sagalos ha ...