Market News

TSMC Q2 profit surges 23%, beats estimates on chip demand

Taiwan Semiconductor Manufacturing Company reported second-quarter profit that jumped 23% and exceeded market estimates, driven by strong demand for high-end chips. The results follow the company's June revenue figures announced earlier in the week.

U.S. Imposes 25% Tariff on Brazilian Goods Over Trade Disputes

The United States has implemented a 25% tariff on most Brazilian goods, citing unfair trade practices, with an additional 12.5% duty under consideration through a separate forced-labor investigation. The combined tariffs could significantly impact bilateral trade relations and affect multiple sectors dependent on Brazilian imports.

Alibaba, Baidu shares surge on Apple AI partnership reports

Shares of Chinese tech giants Alibaba and Baidu jumped in Hong Kong trading following reports of Apple partnerships in artificial intelligence. The moves reflect investor optimism around China's AI sector amid intensifying U.S.-China technological competition.

Ex-Fed Advisor Sentenced to Prison for Concealing China Ties

A former Federal Reserve advisor has been sentenced to over three years in prison for lying about connections to China, according to reports. The case represents a significant U.S. prosecution related to alleged Chinese intelligence targeting of American institutions amid heightened scrutiny of foreign economic espionage.

Bank of Korea Raises Rates to 2.75% in First Hike Over Three Years

The Bank of Korea raised its benchmark interest rate by 25 basis points to 2.75%, marking its first rate increase in over three years, according to the announcement. The move aligned with economist expectations surveyed by Reuters and signals a shift in the central bank's monetary policy stance.

SK Hynix Plunges 9% as Asia Tech Rout Mirrors U.S. Chip Losses

SK Hynix shares fell 9% on Thursday as Asian semiconductor stocks tumbled following a selloff in U.S. chipmakers. The decline reflects a broader regional correction triggered by weakness in American chip equities.

New Jersey Deli Fraud Defendant Seeks No Prison Time

James Patten, charged in a $100 million fraud scheme involving a small New Jersey deli company, is seeking to avoid prison time despite a prior conviction, according to reports. The case involved artificially inflating a company's market capitalization through fraudulent means.

Cramer demands concrete proof that AI investments are delivering returns

CNBC's Jim Cramer has called for companies to demonstrate measurable financial returns from their artificial intelligence investments, signaling skepticism about AI's near-term profitability. The commentary reflects growing investor scrutiny over whether substantial corporate spending on AI technology is translating into tangible business results.

Stock Futures Flat as Markets Await Retail Sales, Labor Data

U.S. stock futures showed minimal movement as investors positioned themselves ahead of key economic data releases on retail sales and jobless claims. The market awaited these reports for signals about economic slowdown and inflation trends.

Kalshi Traders Forecast Gas Prices Above $4 by End of July

Prediction market traders on Kalshi are betting that US gasoline prices will exceed $4 per gallon by the end of July, mirroring price levels seen in the previous month's average. This forecast reflects trader expectations for continued pressure on energy costs in the near term.

World Cup Boosted Bars and Restaurants Amid Broader Consumer Slowdown

The Federal Reserve's latest beige book reported that the World Cup provided a temporary lift to bars and restaurants, though the soccer tournament failed to translate into broader economic expansion. The report signaled that consumers are flashing warning signs beyond the hospitality sector.

United Airlines Beats Earnings But Faces $6B Fuel Cost Headwind

United Airlines reported earnings that exceeded analyst expectations, driven by strong revenue growth across premium, corporate, and basic economy cabin classes as well as improved domestic and international travel demand. However, the carrier projects an additional $6 billion in fuel costs, a significant headwind that could pressure profitability despite the current revenue strength.

Netflix Eyes Catalyst at Earnings to Reverse Weakening Sentiment

Wall Street expects Netflix's Thursday earnings report to provide a catalyst that could reverse declining sentiment around the streaming giant's stock. Investors are watching for signals that could restore confidence in the company's growth trajectory amid softening market perception.

Trump Criticizes New York's AI Data Center Ban, Demands Immediate Policy Reversal

Former President Trump has publicly criticized New York's newly enacted ban on AI data centers, calling for the state to reverse the policy immediately. New York became the first U.S. state to implement such a restriction following the governor's executive order signed Tuesday.

Municipal Bonds Deliver Solid Returns in 2026 as Yields Remain Attractive

Municipal bonds have posted solid performance in 2026, with investment professionals identifying continued opportunities for investors seeking what they characterize as generationally attractive yields. Market participants suggest that despite recent gains, the municipal bond sector still offers compelling entry points for fixed-income investors.

Senior AWS Executive Departs After 18 Years at Amazon

A senior cloud executive has departed Amazon Web Services after 18 years with the company, having played a key role in launching some of AWS's foundational services and overseeing critical compute and machine learning divisions. The departure marks a notable leadership change at the cloud division, which remains a major profit driver for Amazon.

JPMorgan Chase Charts Signal Bullish Setup After Q2 Earnings

Technical analyst Frank Cappelleri identified favorable chart patterns and fundamental indicators aligning for JPMorgan Chase following the bank's second-quarter earnings report. The combination of technical and fundamental signals suggests potential upside momentum for the banking giant.

Public Service Loan Forgiveness Updates: Three Key Changes for Borrowers

Recent regulatory changes to the Public Service Loan Forgiveness (PSLF) program have introduced new requirements that borrowers should review to ensure continued eligibility. Affected borrowers are advised to verify that their current repayment plan and loan type still qualify for forgiveness benefits under the updated framework.

Anthropic Gears Up for Potential October IPO, Investor Meetings Underway

Anthropic, the AI startup behind Claude, is organizing investor meetings in preparation for a potential initial public offering as early as October, according to reports. The move signals the company's push to reach public markets ahead of competitor OpenAI.

IBM shares plunge 25% in historic single-day decline

IBM stock experienced a dramatic 25% single-day drop, falling approximately $73 to around $217 per share, marking a historic decline for the technology giant. The sharp move has created noteworthy implications for options traders seeking to capitalize on the heightened volatility.