Nvidia reaches $4 trillion market cap, Trump announces 50% tariffs on Brazil

Market Trends & Trade War Impact - Major indices ended the day up despite trade war uncertainty, with the NASDAQ boosted by Nvidia reaching a $4 trillion market cap [2] - President Trump is issuing tariff letters, with a recent announcement of a 50% tariff on Brazil [2][3] - The overall trend is for tariffs to move higher, potentially impacting major trading partners like the EU and Japan [6][8][9] - The market may react negatively as the August 1st tariff implementation deadline approaches [9] Federal Reserve & Economic Policy - The administration wants interest rates to go down due to the cost of financing US debt [15] - President Trump is considering candidates like Kevin Hasset and Kevin Walsh for the next Fed chair, seeking a more dovish stance [14][29] - Piper Sandler suggests high tariffs, particularly in the housing market, could contribute to stagflation, prompting consideration for earlier rate cuts [27][28] Company Performance & AI Infrastructure - Penguin Solutions' stock soared nearly 11% after reporting earnings, with revenue in line with analysts' expectations [34] - Penguin Solutions highlighted a strong balance sheet, now net cash positive with zero net debt, positioning them for future growth in AI infrastructure [36] - Penguin Solutions is focused on custom solutions, with 70-75% of its business now AI-related [44][46] Retail & Consumer Trends - Costco reported an 8% year-over-year increase in sales for June, representing a nearly $2 billion rise [49] - Dollar Tree announced a $25 billion share repurchase authorization, prioritizing returning excess cash to shareholders [48] - Kellogg's shares surged after hours on reports that Ferrero is nearing a roughly $3 billion deal to acquire the cereal maker [48]