Standing firm

The Fed expected to stand firm on rates, no tariff pause announced after US-China talks, Trump gets tariffs; Americans get price hikes, Apple loses fourth AI researcher in a month to Meta’, and a quiet SEC rule shift brings crypto ETFs closer to mainstream...

Good morning.

The Fast FiveThe Fed expected to stand firm on rates, no tariff pause announced after US-China talks, Trump gets tariffs; Americans get price hikes, Apple loses fourth AI researcher in a month to Meta’, and a quiet SEC rule shift brings crypto ETFs closer to mainstream…

📌 The biggest winner of Trump's trade war won't be Nvidia or Amazon …or any of the Magnificent 7 stocks. Instead, it will be a behind-the-scenes company with a special technology. Go here to find out more about this ‘America First’ stock.  (ad)

Calendar: (all times ET) - Full Calendar

  • Today:
    GDP, 8:30A
    Pending home sales, 10:00A
    FOMC interest-rate decision, 2:00P
    Powell press conference, 2:30P

  • Tomorrow:
    Initial jobless claims, 8:30A
    PCE index, 8:30A
    PMI, 9:45A

Your 5-minute briefing for Wednesday, July 30:

BEFORE THE OPEN

As of market close 7/29/2025.

Pre-Market:

US Investor % Bullish Sentiment:
↓ 36.78% for Week of JUL 24 2025

Previous week: 39.27%

Market Wrap:

• Futures flat: S&P & Nasdaq steady; Dow -41pts (-0.1%)
• S&P breaks 6-day record streak; all 3 majors down
• Trade talks with China stall; tariff pause in limbo
• Fed decision today; no rate change expected. Powell presser eyed for policy clues
• Starbucks jumps >3%, Visa slips >2% post-earnings
• Today: Meta, Microsoft, Ford, Robinhood report

EARNINGS

Here’s what we’re watching this week. (*) indicates before the bell

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HEADLINES

The president is already reshaping the economy with his sprawling tariff policy. Now he wants the Federal Reserve to fall in line.

US and Chinese negotiators wrapped up two days of talks Tuesday without an immediate announcement of a further tariff delay between the world’s two largest economies.

  • Equities close lower as earnings weigh; Fed statement on tap (more)

  • Bessent to US businesses: ‘Not the end of the world’ if Apr. 2 tariffs kick in (more)

  • Trump gets tariffs; Americans get price hikes (more)

  • US goods trade deficit shrinks in likely boost to second-quarter GDP (more)

  • Oil pauses rally as markets weigh Trump's ultimatum to Russia (more)

  • China investors swap gold for stocks as ETFs see record outflow (more)

  • Apple loses 4th AI researcher in a month to Meta’s Superintelligence Team (more)

  • Spotify drops 11% for worst day in two years on weak guidance (more)

  • United Airlines flight attendants reject contract with immediate raises of at least 26% (more)

  • CyberArk pops on report of $20B+ acquisition talks with Palo Alto Networks (more)

  • Anthropic in talks to raise fresh capital at $170 billion valuation (more)

  • Figma’s $1.2 billion IPO approaching 40 times oversubscribed (more)

  • Starbucks says turnaround plan is proceeding ahead of schedule (more)

  • JPMorgan is in advanced talks to replace Goldman Sachs on Apple credit card (more)

DEALFLOW

M+A | Investments

  • Union Pacific, Norfolk Southern merge creating first US transcontinental railroad

  • Baker Hughes to buy Chart Industries in $13.6B deal

  • ICE (NYSE Owner) in talks to acquire Enverus for ~$6B

  • Hightouch receives strategic investment from Snowflake and Capital One

VC

  • ARTBIO, a clinical-stage radiopharmaceutical company, raised $132M in Series B funding

  • Sparrow, an employee leave management technology company, raised $35M in Series B funding

  • Arbital Health, a healthtech company that helps providers manage risk‑based contracts, raised $31M in Series B funding

  • Multibeam Corp., a company providing Multicolumn E‑Beam Lithography system, raised $31M in Series B funding

  • Reveal Technology, a defense technology company, raised $30M in Series B funding

  • iCOUNTER, a cyber risk intelligence company, raised $30M in Series A funding led by SYN Ventures

  • Wingspan, a contractor payroll platform, raised $24M in Series B funding, bringing its total raised to $54M

  • lakeFS, a provider of a “git‑for‑data” version control system for enterprise data and AI initiatives, raised $20M in growth funding

  • FluidCloud, a portable cloud infrastructure company, raised $8.1M in Seed funding

  • Caspian, an AI‑driven customs compliance startup, raised $5.4M in Seed funding

  • Keye, an AI platform for private equity, raised $5M in Seed funding, backed by firms including Sorenson Capital and Y Combinator

CRYPTO

  • Bitcoin and ether fall as investors await this week’s Fed rate decision (more)

  • A quiet SEC rule shift brings crypto ETFs closer to mainstream (more)

  • US Senate bill seeks to include crypto in mortgage approval process (more)

  • EToro to tokenize US stocks on Ethereum network for 24/7 trading (more)

BULLISH BITES

📈 Why markets shrug off Trump's vague trade deals.

🚘 Ford Motor’s family dynasty takes early steps toward succession.

📖 OpenAI announces new ‘study mode’ product for students.

💵 Four ways to prepare for when your adult kids need financial help.

DAILY SHARES

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