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Share link:In this post: Tesla’s sales, profits, and stock have dropped, with analysts citing weak demand and rising competition from China. Musk remains optimistic, touting future robotaxi services and Tesla’s AI as superior. Tesla faces growing pressure from rivals like Waymo, which is expanding faster and already generating revenue from autonomous ride services.
Share link:In this post: Trump now holds a golden share in U.S. Steel, giving him direct veto power over company decisions. The Pentagon bought a $400 million stake in MP Materials, marking its first equity move in mining. Trump proposed taking a 50% stake in TikTok and may expand investments in strategic industries.
Share link:In this post: The U.S. has set a 15% minimum tariff on imports, and higher rates will follow if trade deals aren’t made. Companies warn of cost hikes, with some already raising prices or suing. Economists predict rising prices on goods like clothing, electronics, and shoes.
Quick Take This is an excerpt from the 31st edition of The Funding sent to our subscribers on July 27. The Funding is a fortnightly newsletter written by Yogita Khatri, The Block’s longest-serving editorial member. To subscribe to the free newsletter, click here.
- 16:14Citi: The Momentum of the U.S. Stock Market Rally Is Slowing DownJinse Finance reported that Citigroup stated the bullish momentum in the US stock market continues to weaken, and this trend is also reflected in European markets across the Atlantic. European stock market investors are facing political turmoil in France, while the European Central Bank is expected to keep interest rates unchanged for the second consecutive time this Thursday. In a report, Citigroup pointed out: "Bullish positions in the US continue to decline, and the normalization levels of the S&P 500 Index and the Russell 2000 Index are both falling, although there is still some new risk capital flowing into the market." The report added, "Positions in the Nasdaq Index are more resilient, with bullish levels remaining high." The bank believes that recent US labor data has increased the likelihood of a Federal Reserve rate cut.
- 16:14Blockchain fintech platform Munify completes $3 million seed round led by Y CombinatorChainCatcher News: Egypt-based fintech platform Munify has completed a $3 million seed round, led by Y Combinator, with participation from Digital Currency Group (DCG) and BYLD. According to the introduction, Munify is a blockchain fintech platform targeting the Middle East and North Africa (MENA) region, offering global, mobile-first fund management services. The platform provides multi-currency non-custodial accounts, real-time cross-border payments, virtual USDC cards, and remittance services supporting stablecoins.
- 16:14Analyst: Employment data revisions further fuel the case for Fed rate cutsJinse Finance reported that Michael James, Managing Director of Equity Trading at Rosenblatt Securities, stated that the revision of U.S. employment data has further fueled expectations of a Federal Reserve rate cut. On Thursday morning, we will obtain more information from the Consumer Price Index (CPI), but the significant slowdown in labor force growth further indicates that the Federal Reserve will begin its rate-cutting cycle later this month. This has led to an overall better performance in the stock market this morning.