Innovation & Tech
Moderna and Merck reported the first positive Phase 3 results for an individualized mRNA cancer therapy, sending MRNA stock sharply higher. The melanoma study met key endpoints when Moderna’s intismeran was combined with Merck’s Keytruda.
Innovation & Tech
Google is expanding its custom AI silicon partnership with Marvell, giving the chipmaker a path to significant long-term revenue and Google a potential $12.2 billion stake. Marvell shares jumped while Broadcom fell as investors assessed the changing supplier mix.
Earnings
Target delivered another quarter of sales and traffic growth as merchandise changes, lower prices and stronger digital demand gained traction. A tariff refund boosted headline earnings, but underlying margins and profit guidance also improved.
Innovation & Tech
Alphabet is expanding its AI infrastructure buildout with sharply higher capital spending and a planned Australian bond sale, while Berkshire Hathaway has increased its stake in the Google parent. The combination puts funding, AI demand and investor conviction in focus.
Macro
Long-term U.S. borrowing costs climbed to levels not seen since 2007 as oil-driven inflation fears, heavy debt issuance and fiscal concerns hit the bond market. The rise in yields pressured technology stocks and pushed borrowing costs higher across the economy
Earnings
Baidu’s AI cloud and GPU businesses grew rapidly in Q2, but falling search advertising revenue and weaker profits outweighed that progress. The stock dropped as investors questioned how quickly AI growth can offset pressure in the company’s legacy internet business.
Earnings
Klarna delivered double-digit growth in volume, revenue and transaction margins, but weaker European spending and currency effects forced a 2026 outlook reset. The guidance cut sent KLAR stock sharply lower despite improving profitability and strong U.S. growth.
Earnings
Home Depot beat second-quarter revenue and earnings expectations as smaller projects, Pro demand and digital sales supported growth. But unchanged guidance shows that weak housing turnover and continued pressure on large renovations remain important constraints.
Business Trends
SpaceX rallied as major institutional holdings came into view, while Tesla increasingly traded alongside Musk’s space and AI company as investors weighed merger speculation, AI ambitions and billions of shares scheduled to unlock.
Business Trends
Nike shares fell to their lowest level since 2014 as weakness in China, shrinking direct and digital sales, and concerns about the cost of its turnaround continue to challenge confidence in a sustainable recovery.
Sector
A $22.9 billion Tomahawk contract and new missile-production agreements are pushing U.S. defense manufacturing toward higher output, creating opportunities for RTX, Boeing, Lockheed Martin and key suppliers while exposing persistent production bottlenecks.