Good morning.

The Fast Five → Wall Street shrugs off chip rout, value outperforms growth this year, Citadel's Fed rate hike call adds to market angst, Jensen Huang meets with Lutnick, and SpaceX stock trying to recover after hitting all-time low…

📌 IPO Shares for a House? Check out the strange thing happening in Silicon Valley’s housing market →
(from Weiss Ratings)

Calendar: Full Calendar »

  • Today:
    Federal Funds Rate, 2P
    FOMC Statement, 2P
    FOMC Press Conference, 2:30P

  • Tomorrow:
    Advance GDP, 8:30A
    Core PCE Price Index, 8:30A
    Unemployment Claims, 8:30A

Your 5-minute briefing for Wednesday, July 29:

BEFORE THE OPEN

As of market close 7/28/2026.

Pre-Market:

Market Wrap:

  • Futures: Dow -60 (-0.1%), S&P -0.2%, Nasdaq -0.6%

  • Tue: Dow +500 (+0.97%), S&P +0.4%, Nasdaq -0.2%

  • Oil rose after U.S. intercepted Iranian missiles

  • Chip stocks extended their recent selloff

  • Markets await the Fed's rate decision Wednesday

  • Investors brace for key megacap earnings

  • Focus shifts to Microsoft, Meta, Qualcomm, and the Fed

EARNINGS

Here’s what we’re watching today:

Full earnings calendar »

FROM WEISS RATINGS

Elon Musk Finally Admits Defeat

After years of fighting it, Elon Musk knows he lost.

Calling this company he’s bashed for years, “the clear leader in AI.”

Now, it’s about to go public.

Right on the heels of SpaceX.

Its value has doubled since the announcement.

But there’s a special way you can get access to its shares RIGHT NOW …

BEFORE it goes public.

Go here to learn how > >

- a sponsored message from Weiss Ratings -

HEADLINES

Wall Street Shrugs Off Chip Rout

Stocks mostly closed higher as falling oil prices, easing US-Iran tensions, and strong earnings overshadowed weakness in the chip trade.

Value Outperforms Growth This Year, Powered By…AI Stocks?

Early chip stock gains and a comeback in traditional value sectors are factors in Russell 1000 Value Index’s outperformance over its growth counterpart.

  • S&P 500 ends higher as investors await tech earnings (more)

  • Citadel Securities’ Fed rate hike call adds to market angst (more)

  • Iran launches missiles at US base for first time since pause on strikes (more)

  • Trump: New tariffs 'doing the same thing' as ones struck down by SCOTUS (more)

  • US bans import of new Chinese robots (more)

  • Nvidia's Jensen Huang meets Lutnick amid China scrutiny (more)

  • Treasury yields edge lower ahead of Fed rates decision as oil prices tumble (more)

  • Bond market avoids big rate bets as inflation dims Fed outlook (more)

  • Consumer confidence fell in July as worries over prices remained elevated (more)

  • US goods trade deficit shrinks, still expected to weigh on Q2 GDP growth (more)

  • Oil falls to lowest point in a week on US-Iran pause (more)

  • Apple tops $5 trillion market cap, only second company to hit milestone (more)

  • SpaceX stock trying to recover after hitting all-time low (more)

  • Coca-Cola hikes full-year forecast, CEO: World Cup boosted its brands (more)

  • Boeing posts wider loss than expected, Air Force One costs weigh on results (more)

  • Ford lifts annual guidance, citing strong pricing and 'resilient' consumer (more)

  • UPS raises full-year revenue forecast after Amazon volume pullback (more)

  • Corning tumbles 16% after earnings, leading rout in optical stocks (more)

  • Visa tops profit estimates on resilient spending, World Cup travel (more)

    • Visa cutting 7% of employees as AI reshapes work (more)

  • OpenAI and Anthropic staff push US govt to support AI pacing rules (more)

DEALFLOW

M+A | Investments

  • AT&T closes $23B deal to acquire Spectrum from EchoStar

  • AMD signs AI data center deal with Core Scientific

  • Frasers Group takes a position in Burberry

  • COR receives $30M investment from FTV Capital

  • PawPay receives investment from VANE

  • Conversica receives investment from Morgan Stanley Expansion Capital

  • GracoRoberts receives investment from Tinicum

  • Notabene receives investment from Ripple

  • KMM Group receives investment from RS2 Healthcare Partners

VC

  • Dwelly, a vertical AI services company for residential lettings, raised $170M in Series B financing

  • Claros Technologies, a provider of PFAS destruction and analytical solutions, raised $55M in Series B funding

  • ProphetX, a sports-native prediction market and B2B platform, closed a $35M funding round

  • Epitel, an AI-driven wireless brain health tech platform, raised $26M in Series B financing

  • Flourish Health, a pediatric mental health care platform, raised $26M in Series A funding

  • CORE Biomedicine, a provider of precision oncology therapeutics, raised $21M in Series A financing

  • Credible Data, a business context engine for enterprise AI, raised $10M in Seed funding

  • Antares Labs, an AI platform for real estate operations, raised $7.25M in Seed funding

  • Alpen High Performance Products, a provider of window solutions, raised $6M in Series B financing

  • Aurenar, a non-invasive, single-use neuromodulation platform, raised $5.7M in Seed funding

  • Frenos, an AI-native operational technology security management platform, raised $1.52M in Seed extension financing

  • Liquid Interactive, an interactive visual AI platform, raised CAD $700K in Pre-Seed funding

CRYPTO

  • Bitcoin drops as South Korean stocks tumble, Senate shelves crypto Clarity Act (more)

  • BlackRock, Fidelity, other Wall Street giants back the Clarity Act (more)

  • Morgan Stanley debuts Ether, Solana exchange-traded products after Bitcoin fund success (more)

  • Kraken opens Jersey Mike's IPO to retail investors through tokenized shares and direct allocations (more)

BULLISH BITES

📈 The ultimate IPO unicorn (happening soon). *

🤖 AI labs flock to the Bank of Jensen.

💰 The stock market is not your rich uncle.

🎙️ Prediction markets get their own media company.

👔 The Best Menswear of the Year, from Kiton’s tailoring to Celine denim.

DAILY SHARES

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