Group 1 - The announcement from two national departments indicates that starting from August 8, 2025, interest income from newly issued government bonds, local bonds, and financial bonds will be subject to value-added tax again [1] - The decision to reinstate the tax is based on the current lack of necessity to encourage bond purchases through tax reductions and aims to adjust the funding structure to prevent excessive concentration of funds in interest-bearing bonds [1] Group 2 - Berkshire Hathaway reported a revenue of $92.515 billion for Q2 2025, a decrease from $93.653 billion in the same period last year [2] - The net income attributable to Berkshire shareholders fell to $12.370 billion, down 59% from $30.348 billion year-over-year [2] - Operating profit for Berkshire decreased by 4% year-over-year to $11.16 billion, primarily impacted by a decline in insurance underwriting business, while profits from railroads, energy, manufacturing, services, and retail sectors showed growth compared to the previous year [2] Group 3 - A recent study from Yale University revealed that as of July 31, the average effective tariff rate on imported goods in the U.S. reached 18.3%, the highest level in 91 years [3] - Consumers may face price increases of 40% for footwear and 38% for clothing in the short term due to these tariffs [3] - Concerns regarding the future of the U.S. economy were also highlighted in Berkshire's financial report [3]

Market Performance - The S&P 500 and Nasdaq indices reached record closing highs, with the S&P 500 up 1.5% for the week and achieving a "perfect week" for the first time since November 2021 [1] - The Dow Jones Industrial Average rose 0.47% to close at 44,901.92 points, while the S&P 500 and Nasdaq closed at 6,388.64 points and 21,108.32 points, respectively [1] Company Performance - Microsoft shares increased by 0.55%, reaching a historic closing high of $513.71, while Intel's stock fell by 8.5% to $24.20 due to disappointing Q2 earnings [2] - Intel reported Q2 revenue of $12.9 billion, which was flat year-over-year but exceeded market expectations of $11.92 billion; however, it posted a net loss of $400 million compared to a profit of $100 million in the same period last year [2] - Other tech stocks showed mixed performance, with Nvidia down 0.14% and AMD up 2.68% [2] Economic Outlook - Market focus is shifting to the upcoming Federal Reserve meeting, with expectations that interest rates will remain unchanged; a 60% probability of a rate cut in September is being priced in [3] - Over 150 S&P 500 companies are set to report earnings next week, with analysts predicting a 7.7% year-over-year growth in overall earnings for the index, driven primarily by the technology sector [3] Commodity Market - International oil prices fell, with WTI crude oil futures down 1.32% to $65.16 per barrel and Brent crude down 1.02% to $67.66 per barrel [3]

Market Overview - The market opened mixed, with the Dow dropping -316 points (-0.70%) after a +500-point gain the previous day, while the S&P 500 and Nasdaq saw modest increases of +0.07% and +0.18% respectively [1] - The small-cap Russell 2000 index fell -1.3% [1] Services & Manufacturing PMI - The S&P Services PMI for July was reported at 55.2, exceeding expectations of 53.2 and the previous month's 52.9, marking the highest level in 2025 [2] - In contrast, the S&P Manufacturing PMI fell to 49.5, below the anticipated 52.7 and the previous month's 52.9, indicating a decline in new orders for the first time this year [3] Earnings Results - Intel reported Q2 earnings with a loss of -$0.10 per share, missing the expected +$0.01, while revenues were $12.9 billion, surpassing the consensus of $11.87 billion [4] - Intel's guidance for Q3 includes revenue expectations of $12.6-13.6 billion but forecasts earnings of $0.00 per share, down from the expected 2 cents, and announced a further -15% workforce reduction [5] - Deckers Outdoor exceeded earnings expectations with 93 cents per share against estimates of 68 cents, and revenues of $965 million, a +17% increase year-over-year [6] - Despite a +20% surge in shares post-announcement, Deckers' stock is still down approximately -40% year-to-date [7] Upcoming Economic Indicators - Durable Goods Orders for June are anticipated to show a negative swing, with estimates at -11%, following erratic behavior influenced by tariff policies [8] - Q2 earnings reports are expected from Phillips 66 and AutoNation, with major companies like Microsoft, Apple, and Amazon set to report next week [9][10]

Group 1 - General Motors' stock fell by 8.1%, marking its largest single-day drop in nearly a year, due to the impact of tariffs imposed by the Trump administration [3] - The company's Q2 revenue decreased by nearly 2% to approximately $47 billion, with adjusted earnings per share at $2.53, slightly above market expectations but significantly lower than the previous year's $3.06 [3] - General Motors warned of a potential profit loss of $4 billion to $5 billion for the year due to trade policies, despite maintaining its full-year core profit forecast in the range of $10 billion to $12.5 billion [3] Group 2 - The healthcare sector led the market with a 1.9% increase, while the real estate sector followed closely with a 1.78% rise, indicating a preference for defensive assets [4] - The Nasdaq China Golden Dragon Index rose by 1.7%, with notable gains in Chinese stocks such as NIO, which surged over 10%, and Baidu, which increased by more than 4% [4] - The technology sector showed mixed performance, with Alphabet achieving its longest consecutive gain in nearly five years, while other major tech stocks like Meta Platforms and Microsoft experienced declines [4] Group 3 - Lockheed Martin's stock plummeted nearly 11%, with the company reporting a year-over-year profit decline of approximately 80% [5] - The market is currently in a wait-and-see mode, with key catalysts expected from the upcoming tariff negotiations and earnings reports from major tech companies [5] - Economic data indicated a slight recovery in the non-manufacturing sector, with the Philadelphia Fed's non-manufacturing activity index improving from -25.0 to -10.3, although it remains in negative territory [5]

Core Viewpoint - The article discusses the recent performance of the U.S. stock market, highlighting the positive impact of favorable employment data and upcoming economic indicators on investor sentiment. It also focuses on specific companies, Amazon and Tesla, analyzing their current market positions and potential future performance. Market Overview - The U.S. stock market saw significant gains last week, with the Dow Jones rising by 2.3%, the S&P 500 increasing by 1.7%, and the Nasdaq up by 1.6% [4][5]. - The S&P 500 and Nasdaq indices reached new highs, indicating a reduction in economic concerns among investors [4]. Economic Indicators - Investors are advised to closely monitor key economic indicators, including inflation, interest rates, and corporate earnings, as the July 9 tariff deadline approaches [6][7]. - The Federal Reserve's June meeting minutes are anticipated to provide insights into future interest rate directions [7]. Company Analysis: Amazon - Amazon's Prime Day shopping event is set to take place from July 8 to July 11, with expectations of strong stock performance [10][12]. - Sales during Prime Day are projected to reach $21 billion, a substantial increase of 60% compared to the previous year [12]. - Amazon's stock closed at $223.41, near its 52-week high of $242.52, with a three-month return rate of 30.6% [10][12]. - Analysts have rated Amazon's financial health at 3.09, indicating an "excellent" level, and Morgan Stanley has named it a "top investment choice" [13][16]. Company Analysis: Tesla - Tesla is facing challenges due to CEO Elon Musk's political involvement, which has led to increased stock volatility [18][19]. - The stock price has fluctuated significantly, dropping from a high of $488 in December to $315.35 recently, reflecting sensitivity to political and leadership risks [20][24]. - Concerns about Musk's focus on Tesla's core business amid political tensions have shaken investor confidence [25]. - Tesla's current stability rating is 2.45, categorized as "average," with predictions suggesting a potential decline to a more reasonable price of $276.84 [27].

Group 1 - The June non-farm payroll data in the U.S. showed an increase of 147,000 jobs, significantly exceeding the market expectation of 106,000 jobs, and the unemployment rate decreased from 4.2% to 4.1% [3] - The strong employment data has diminished the likelihood of a Federal Reserve interest rate cut in July, with the probability dropping from 25% to 4% [3][4] - Market reactions included a decline in U.S. Treasury prices, with the 2-year and 5-year yields rising nearly 10 basis points, and the 10-year yield jumping to 4.34% [3] Group 2 - The report indicated that 73,000 of the new jobs were in state and local government, primarily in the education sector, while federal government jobs decreased by 7,000, suggesting that private sector growth was not as strong as anticipated [3] - Despite the strong employment figures, uncertainties remain regarding trade negotiations, and there are concerns about potential price pressures indicated by the services PMI [4] - The increase in U.S. Treasury yields and a stronger dollar suggest that dollar-denominated assets may become more attractive, while gold and other safe-haven assets could face pressure [4]

Group 1 - Nvidia's stock rose by 3.2% following a quarterly earnings report that exceeded market expectations, marking a year-to-date increase of 3.6% [2] - Boeing's stock increased by 3.3% as the CEO announced plans to raise the monthly production of the 737 MAX jets to 42 units in the coming months, with a further increase planned for early 2026 [4] - Best Buy's stock fell by 7.3% after the company lowered its full-year same-store sales and profit forecasts, citing concerns that tariff factors would suppress consumer willingness to purchase high-priced items [4] Group 2 - The Nasdaq China Golden Dragon Index rose by 1.44%, with notable gains in popular Chinese stocks such as JD.com (up over 4%), Xpeng Motors (up nearly 4%), and Li Auto (up over 2%) [3] - The S&P 500 index has seen a cumulative increase of 5.7% in May, while the Dow Jones and Nasdaq indices rose by 3.5% and 9.5%, respectively, driven by strong corporate earnings and easing trade tensions [3]

Group 1 - The easing of tensions in the US-China trade war has led to a significant rebound in global risk assets, with US stock markets experiencing substantial gains [3][5][6] - The Dow Jones Industrial Average surged approximately 1000 points, while the Nasdaq and S&P 500 indices rose over 3.5% and 2.7% respectively [1][6] - Market optimism is driven by hopes for a broader agreement between the two largest economies, resulting in a decline in gold and safe-haven currencies [3][5] Group 2 - The reduction of tariffs between the US and China exceeded expectations, with a framework for ongoing dialogue established, which is positively viewed by the stock market [5][7] - US Treasury Secretary Scott Bessenet announced that both countries agreed to lower "reciprocal" tariffs by 115% within 90 days, reducing US tariffs on Chinese goods to 30% and Chinese tariffs on US goods to 10% [7] - UBS expects that the uncertainty surrounding trade has peaked, predicting that by the end of the year, the actual tariff levels in the US will gradually decrease to around 15% [8] Group 3 - Major technology stocks saw significant increases, with Apple rising nearly 6% as it considers raising prices for its upcoming iPhone series while avoiding attributing the price hike to US tariffs [8][9] - Individual stock performances included Micron Technology up 8.57%, Amazon up 7.54%, and Tesla up 6.79%, reflecting a strong rally in the tech sector [9] - The Chinese stock index also rose over 4%, and the Chinese yuan appreciated by 400 points, indicating a positive market response in China as well [9]

Employment Situation Report - The U.S. added +177K new jobs in April, surpassing the +133K expected by analysts, while the unemployment rate remained at +4.2% [1][2] - Previous months' job numbers were revised down, with March's jobs revised from +228K to +185K and February's from +151K to +117K [2] - Hourly wage growth slowed to +0.2% from +0.3% expected, with year-over-year growth at +3.8%, down 10 basis points from estimates [3] Sector Performance - Education & Health Services led job growth with +70K jobs added, followed by +29K in Transportation & Warehousing and +24K in Leisure & Hospitality [4] - Federal agencies saw a minor job loss of -9K, which was lower than expected due to severance packages associated with recent layoffs [4] Market Reaction - The labor market's resilience is reflected in pre-market index movements, with the Dow up +425 points, S&P 500 up +60 points, and Nasdaq up +215 points [5] Q1 Earnings Reports - ExxonMobil reported earnings of $1.76 per share, beating estimates by 4 cents but missing on revenue [6] - Chevron posted earnings of $2.18 per share, beating estimates by 3 cents but missing revenue expectations by -2% [6] - Shell reported a strong earnings beat of +19.5% ahead of the market opening [6] Company-Specific Earnings - Wendy's reported earnings of 20 cents per share, in line with estimates, but revenues of $523.47 million slightly missed consensus [7] - Piper Sandler achieved a +69% positive earnings surprise with earnings of $4.09 per share and revenues of $383 million, outperforming consensus by +7.8% [8]

Employment Situation Report - The U.S. added +177K new jobs in April, surpassing the expected +133K [1] - The Unemployment Rate remained stable at +4.2% [1] - March's job numbers were revised down from +228K to +185K, and February's from +151K to +117K [2] Wage Growth and Labor Participation - Hourly Wages increased by +0.2%, lower than the expected +0.3%, with year-over-year growth at +3.8% [3] - The Average Workweek increased by 10 basis points to 34.3 hours [3] - Labor Force Participation reached 62.6%, matching the highs of September last year [3] Sector Performance - Education & Health Services added +70K jobs, followed by +29K in Transportation & Warehousing and +24K in Leisure & Hospitality [4] - Federal agencies saw a slight reduction of -9K jobs, attributed to severance packages from recent layoffs [4] Market Reaction - The positive employment report contributed to pre-market gains, with the Dow up +425 points, S&P 500 up +60 points, and Nasdaq up +215 points [5] Q1 Earnings Overview - ExxonMobil reported a +69% positive earnings surprise at $4.09 per share, with revenues of $383 million, outperforming consensus by +7.8% [6] - Despite the earnings news, ExxonMobil shares are down -15% year to date [6]