Bloomberg Television·2026-07-29 23:13Monetary Policy & Macroeconomic Trends - The Federal Reserve kept interest rates steady in a 9-3 FOMC vote, maintaining the inflation target of 2% while job gains matched the workforce[7][8] - 30-year Treasury yields soared to 5.2% and the S&P 500 dropped 1.5%, pushing the Nasdaq 100 into correction territory[1][3][4] - Energy costs, surging oil prices with Brent topping $90 a barrel, and artificial intelligence spending continue to drive inflation concerns and potential future rate hikes[2][16][36] Big Tech Performance & AI Spending - Meta shares plunged around 10% post-market due to disappointing revenue, higher capital expenditure forecasts, and one-time severance and legal charges impacting operating margins[41][42][43] - Microsoft's Azure cloud computing unit grew 43% year-over-year in the fiscal year ending in June, with annual sales topping $100 million and quarterly sales reaching $41 billion[6][44][45] - Qualcomm reported a weak profit forecast for the current quarter driven by component shortages and rising costs[6] Energy Sector & Geopolitical Impacts - Daily oil production and delivery out of the Arabian Gulf region averaged 13 million barrels per day, operating at about two-thirds of pre-conflict levels[38] - U.S. and Saudi military actions in the Strait of Hormuz and the Suez Canal are actively employing tanker capacity and pipelines to maintain global oil supplies[36][39][40]