Macroeconomic Trends and Labor Market - Employers unexpectedly cut 23 thousand jobs in July, while the unemployment rate fell to 4.1% due to a decrease of 264 thousand in the labor force[2][3] - Average hourly earnings grew by 3.2% on an annual basis, and local government education lost nearly 50 thousand jobs while construction jobs increased by 22 thousand[3][4] - Bond yields decreased, with 2-year yields dropping by 7 basis points and 10-year yields dropping by 5 basis points, while gold prices increased by nearly 3% trading above 4,300[2][30] Corporate Earnings and Market Movers - Sweetgreen shares tumbled double digits after slashing its outlook due to falling in-store sales amid cyclosporasa and salmonella outbreaks[25] - Alphabet (Google) issued 25 billion dollars in U.S.-denominated debt to support immense AI infrastructure capex, while Take-Two shares rose 1.5% despite an earnings miss ahead of the upcoming Grand Theft Auto VI launch[26][47][71] - SK Hynix plans to spend 38 billion dollars to expand chipmaking facilities in South Korea to double production capacity and ease global memory chip shortages[28] Fiscal and Industry Developments - Ethan Allen CEO defends the company's long-term interior design and vertically integrated retail strategy amid an activist campaign by DGB Investments[180] - Tanger reports resilient outlet shopping traffic and increasing use of AI chatbots to handle over 50% of customer service interactions[161][175] - Cryptocurrency exchange-traded funds experienced 750 million dollars in inflows following a cold storage wallet hacking incident involving a third-party provider[97]