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Market News
Nvidia's blowout
Nvidia tops estimates - sales projected to jump 170% this quarter, all eyes on Powell’s Jackson Hole speech tomorrow, Wagner mercenary Prigozhin killed in plane crash, Esmak scraps bid for U.S. Stell, and India becomes fourth country to land on moon - first on south pole…
SoCal double trouble
SoCal hammered by earthquake as tropical storm descends, Biden assures Maui residents they will control rebuilding, Zelenskyy vows retaliation for Chernihiv attack, Nissan recalls 236K Sentras, and looming auto workers strike could cost the US over $5 billion in 10 days…
Fitch warns banks
US retail sales top forecasts, Fitch warns it may be forced to downgrade dozens of banks, Hollywood studios offer writers a new deal, China surprises with rate cuts, Apple to start paying out millions in ‘BatteryGate’ lawsuit, and Tesla launches $10K cheaper Model X & S…
'The Big Short' redux?
‘The Big Short’ Michael Burry makes big bet against the market, USB to pay $1.4 billion over fraud in mortgage-backed securities, Russia calls emergency key rate meeting as Ruble plummets, near-term inflation outlook lowest since 2021, and DeSantis urges Iger to accept end of ‘special privileges’…
Luxury mega-merger
US CPI posts smallest back-to-back increases in 2 years, China slams Biden’s order limiting overseas tech investment, Tapestry and Capri announce luxury mega-merger, TV giants clash over NBA/NHL/MLB games as rights up for grabs, and Disney+ loses millions of subscribers as content purge continues…