WS #13085
The dominant signal in this window is the Amazon (AMZN) Q2 earnings double beat, with EPS of $5.75 (beat 216%) and revenue of $200.6B (beat 2%), driven by AWS growth accelerating to 37% (fastest in 18 quarters). AMZN is up ~7-8% after hours. Apple (AAPL) also beat Q3 estimates (EPS $2.02 vs $1.89, revenue $109.42B vs $108.85B), but the beat is tempered by a miss in Greater China revenue ($18.82B vs $19.58B est.) and Services revenue ($30.74B vs $31.36B est.), and the EPS included a $0.11 favorable impact from tariff refunds. AAPL stock is slipping after hours. Separately, the Bank of Japan (BOJ) and Japanese government intervened in FX markets, buying yen against the dollar in NY trading, according to Nikkei. This is a counter-signal to the prevailing USD strength narrative. Geopolitical noise includes Iran striking Egypt, a failed War Powers Resolution on Iran (49-50), and Trump DOJ turning over Epstein files, but these lack direct near-term market impact. The overall narrative is stable with a positive tilt from tech earnings, though Apple's China weakness and the BOJ intervention are cautionary signals.
Topics
Key developments
- Amazon Q2 EPS $5.75 beats $1.89 estimate by 216%, revenue $200.6B beats 2%, AWS growth accelerates to 37%
- Apple Q3 EPS $2.02 beats $1.89, revenue $109.42B beats $108.85B, but Greater China and Services miss; EPS includes $0.11 tariff refund
- BOJ/Japan government intervenes in FX market, buying yen vs dollar in NY trading
- Iran strikes Egypt as conflict escalates; War Powers Resolution fails 49-50
- Trump orders restrictions on export of critical minerals scrap