Jack of All Trades

Premium consumer spending accelerated to its strongest pace in three years, with credit quality improving. Verizon posted record margins and a $1 billion-plus AI infrastructure deal with Google.

Intel reported after the bell: revenue grew 25%, its fastest in fifteen years, 18A chip yields reached 85%, and a major cloud provider committed to production on Intel's most advanced node.

Alphabet's cloud grew 82% and Google Cloud backlog crossed $514 billion, then the stock fell 7% as the company raised full-year capex to $195 billion. Tesla reported record revenue while operating margin collapsed to 1.4%, free cash flow turned negative, and shares fell 14%.

The three-day losing streak broke as industrials led the rebound. 3M delivered mid-single-digit organic growth with margins near 25% and raised full-year guidance. GM reported the strongest first half in the company's 118-year history with the CFO calling the stock a bargain.

TSMC reported record revenue and record gross margin, then fell. ASML beat and raised full-year guidance, then pulled back.

TSMC reported record revenue and record gross margin, then fell. ASML beat and raised full-year guidance, then pulled back. Both companies delivered exceptional results against a backdrop of the semiconductor index's worst week since March

UnitedHealth beat managed care's most critical metric — the medical benefit ratio — by 270 basis points, delivering a 30% EPS beat. GE Aerospace raised guidance across every metric but order momentum decelerated sharply from Q1. Netflix's soft Q3 guide sent shares down nearly 10% after hours.

PPI second consecutive disinflation surprise. Morgan Stanley, Johnson & Johnson, and BlackRock all beat — record equities trading, $10T client assets milestone, $15.3T AUM record, and a $100B revenue threshold no company in JNJ's 140-year history has ever crossed.

June CPI biggest monthly drop since Apr 2020. Banks delivered blowout quarters — record trading, record fees, NII raised. IBM warned: customers buying AI hardware, not software. Enterprise SW sold off. The AI hardware displacement thesis got its most explicit CEO-level confirmation yet.

Iran port blockade reinstated; WTI +3% to $73.83. Nasdaq −1.55%; SKHYV −9% Day 2; KOSPI halted again; MU −4%, SanDisk −12%. FAST: EPS $0.34 beat +3%, rev $2.36B +13.5% — US industrial demand confirmed robust despite war. Tomorrow: CPI + Warsh testimony + 5 banks. SKORE: FAST 7.0 Hold→Buy