Macro
Federal Reserve Chair Kevin Warsh said inflation remains too high while describing growth, employment and financial conditions as strong. His Jackson Hole message puts price stability at the center of policy while rejecting forward guidance on future rate decisions.
Earnings
Workday delivered stronger-than-expected quarterly results as AI products drove more than 25% of new annual contract value. But an early fiscal 2028 outlook points to slower subscription growth even as profitability continues to improve.
Price Action
PayPal shares dropped sharply after Stripe and Advent International abandoned their takeover pursuit, removing a catalyst that helped drive a more than 40% quarterly rally and shifting attention back to PayPal’s standalone turnaround.
Earnings
Autodesk delivered stronger Q2 revenue, subscriptions and margins while raising its full-year revenue and billings outlook, but MaintainX dilution and below-consensus Q3 earnings guidance sent shares lower.
Business Trends
Micron shares moved lower even as Nvidia disclosed a sharp increase in commitments tied primarily to memory procurement, highlighting a split between strong AI-memory fundamentals and a memory trade that had already produced extraordinary stock gains.
Earnings
Nvidia’s fiscal Q2 revenue more than doubled as Data Center sales reached a record $89 billion. A roughly 70% fiscal 2028 growth outlook and supply constraints reinforced the scale of AI demand, sending Nvidia shares sharply higher.
Earnings
Best Buy topped second-quarter expectations and raised its fiscal 2027 outlook, but BBY stock fell nearly 5% as investors weighed slowing computing momentum, higher memory costs and tougher comparisons against improving sales and margins.
Earnings
Okta shares surged after stronger bookings, rising subscription backlog and higher guidance reinforced demand for identity security. New products represented about 30% of Q2 bookings as AI-agent security opened broader customer conversations.
Earnings
Salesforce shares surged after stronger bookings, accelerating AI revenue and higher fiscal 2027 guidance eased concerns about AI disruption. Agentforce and Data 360 ARR reached nearly $3.9 billion as cRPO growth accelerated to 14%.
Earnings
CrowdStrike delivered record net new annual recurring revenue as demand strengthened across its cybersecurity platform, prompting a higher fiscal 2027 outlook and a sharp rally in CRWD stock.
Business Trends
Meta reached a proposed multibillion-dollar settlement over youth safety claims involving Facebook and Instagram, replacing a potentially much larger legal exposure with defined payments and new restrictions on how younger users access its platforms.
Earnings
Intuit delivered stronger-than-expected quarterly results, but weaker fiscal 2027 growth guidance and plans to compete more aggressively on price pressured the stock as the company works to rebuild customer acquisition across TurboTax and QuickBooks.