First Look: GM, Apple, Oil, and Tech Stocks Lead Market Moves

Corporate Financial Performance - General Motors reported Q2 adjusted earnings per share of $357 on $48 billion in revenue, raising its full-year profit forecast to a range of $14 billion to $16 billion [1] - General Motors declared a dividend of 18 cents per share, supported by robust demand for pickups and SUVs [2] - AMC Entertainment shares surged following record quarterly revenue, with the CEO dismissing negative industry forecasts [7] - AliExpress (Alibaba) received a record fine of €550 million (approximately $629 million) from the European Commission for failing to prevent the sale of illegal and counterfeit goods [6] - Anthropic reached a $1.5 billion settlement to resolve copyright claims regarding AI training data, marking a first for the industry [6] Market Trends and Economic Indicators - Apple briefly reclaimed its position as the world's most valuable company, surpassing Nvidia in market capitalization [3] - Oil prices increased by more than 15% over the past week due to escalating Middle East tensions, pushing US national average gasoline prices above $4 per gallon [4] - Chinese AI models from Moonshot and Alibaba have launched open-source offerings that rival US products, intensifying global competition despite slower operating speeds [5] - Miami has surpassed New York City as the most expensive US city to live in, driven by surging housing and insurance costs [9] - JP Morgan Chase CEO Jamie Dimon cautioned that current market valuations may underestimate global risks, advising against purchasing stocks or treasuries [8]