WS #13670
US employers unexpectedly cut 23,000 jobs in July, raising the probability of a Fed hold in September to 55% and supporting the equity rally. Apple confirmed Apple Intelligence can work with Alibaba's Qwen models on Macs in China, extending the AI partnership and supporting both AAPL and BABA. SpaceX reported Q2 revenue of $7.81B (+92% YoY), beat estimates, and announced a $16.8B Terafab AI chip complex with Tesla, lifting the space/AI complex. Uber reported Q2 revenue of $14.19B, up 12% YoY but slightly below estimates of $14.24B, a minor miss that could pressure the stock. Celestica shares dropped 13.2% after CEO and CFO sold shares, a negative signal for the AI hardware supply chain.
US jobs report and Fed expectations
US employers unexpectedly cut 23,000 jobs in July, raising the probability of a Fed hold in September to 55% and supporting the equity rally.
Apple confirmed Apple Intelligence can work with Alibaba's Qwen models on Macs in China, extending the AI partnership and supporting both AAPL and BABA.
SpaceX reported Q2 revenue of $7.81B (+92% YoY), beat estimates, and announced a $16.8B Terafab AI chip complex with Tesla, lifting the space/AI complex.
Uber reported Q2 revenue of $14.19B, up 12% YoY but slightly below estimates of $14.24B, a minor miss that could pressure the stock.
Celestica shares dropped 13.2% after CEO and CFO sold shares, a negative signal for the AI hardware supply chain.