Good Afternoon. Markets hit a fresh S&P 500 record on Wall Street, but the real spotlight is on Nvidia, its post-close earnings release today could make or break the AI trade driving this year’s rally. Meanwhile, France’s political crisis is starting to look like an economic one, AbbVie is betting $1.2B that psychedelics can outdo SSRIs, and GE Vernova keeps riding the AI energy boom. Let’s get into it.

—Rosie, Wyatt, Evan & Conor

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1. S&P 500 hits record high as investors await Nvidia results

The News: The S&P 500 hit a record high Wednesday as investors braced for Nvidia’s earnings after the bell—the week’s most anticipated event and a potential litmus test for the AI-fueled rally. Nvidia, which now makes up nearly 8% of the S&P, has been the single biggest force behind the index’s surge, with options markets pricing in a 6% swing either way once results land.

Why It Matters: Nvidia has become the ultimate market bellwether. Its results ripple far beyond chip investors, shaping the performance of retirement portfolios, index funds, and even the broader economy’s confidence in the AI boom. A blowout report could send Wall Street into overdrive; a miss could trigger the kind of correction skeptics (and even OpenAI’s Sam Altman) have been warning about. With Nvidia so large that one stock could soon account for 10% of the S&P 500, tonight’s earnings aren’t just about one company—they’re about the market itself. It might be the Magnificent Seven Show, but right now, Nvidia alone is the main character.
Source: reuters.com

2. AbbVie bets $1.2B on psychedelic depression drug

The News: AbbVie is making a $1.2 billion bet on psychedelics, acquiring Gilgamesh Pharmaceuticals’ experimental depression drug bretisilocin. The move marks AbbVie’s bold return to neuroscience after last year’s $40B collapse tied to a failed schizophrenia drug. Early data looks promising: a single dose of bretisilocin cut depression scores nearly twice as much as the control group in trials, with 94% of patients in remission after 29 days. Unlike traditional psychedelics, the drug is designed to deliver the therapeutic benefit with a shorter “trip,” making it more practical for widespread medical use.

Why It Matters: The $50B psychedelic medicine market is emerging as one of the hottest frontiers in mental health and Big Pharma wants in. Johnson & Johnson already has an FDA-approved ketamine-derived treatment; now AbbVie is positioning itself as a contender with a potentially best-in-class compound. For investors, the acquisition signals that AbbVie isn’t retreating from neuroscience despite past failures, it’s doubling down. If bretisilocin makes it through late-stage trials, AbbVie could own one of the most important breakthroughs in psychiatric medicine since Prozac. Wall Street may call it a high-risk bet but AbbVie hopes it’s more ‘high reward.’
Source: prnewswire.com

3. SpaceX makes comeback with Starship flight 10

The News: SpaceX’s Starship finally notched a major win Tuesday evening, deploying satellites into orbit for the first time in its tenth test flight. The 403-foot rocket lifted off from Starbase in Texas, successfully separated from its Super Heavy booster, and used its “Pez dispenser”-style bay to release eight mock Starlink satellites. The test also included a controlled booster splashdown, an upper-stage engine relight in orbit, and aggressive heat shield trials, ticking off critical boxes for reusability.

Why It Matters: If you ever feel like giving up, remember: it took SpaceX nine fiery failures to get here. After a streak of explosions, Flight 10 finally proved Starship is more than a science project. For NASA, it validates Starship as the lunar lander for Artemis III in 2027. For SpaceX, it means cheaper, larger-scale Starlink deployments to fuel billions in revenue. And for Musk’s Mars dream? One small mock satellite for Starship, one giant step toward proving it can deliver real cargo—and eventually people—off this planet.
Source: cnbc.com

4. Google unveils blockchain platform to compete with Stripe

The News: Google Cloud has unveiled Google Cloud Universal Ledger (GCUL), a layer-1 blockchain platform designed as “credibly neutral” infrastructure for global finance. Now in private testnet, GCUL supports Python-based smart contracts—unusual in a blockchain world dominated by Solidity—and is already being piloted with CME Group for tokenization, collateral management, and wholesale payments. CME plans to bring products to market in 2026.

Why It Matters: Google is stepping directly into the blockchain arms race against Stripe’s Tempo and Circle’s Arc. By positioning GCUL as neutral infrastructure, Google hopes to attract institutions wary of relying on a competitor’s proprietary rails. The Python compatibility could also lower barriers for traditional finance developers, potentially accelerating adoption. If successful, GCUL won’t just be another blockchain—it could become the default settlement layer for a 24/7, on-chain global financial system. Think less crypto experiment, more new plumbing for Wall Street. Forget coins, Google’s building the rails. And remember, in a gold rush, it’s always better to sell the picks and shovels.
Source: finance.yahoo.com

5. GE Vernova jumps as AI power demand drives energy boom

The News: GE Vernova jumped nearly 4% Tuesday, extending a rally that’s made it one of 2025’s top-performing stocks. The spinoff from General Electric has become a key player in powering the AI revolution, with surging demand for its gas turbines and growing momentum in nuclear. Orders for its power segment climbed 44% last quarter, while its small modular reactors are now in the running for new projects in Sweden, Canada, and the U.S.

Why It Matters: AI isn’t just straining GPUs, it’s straining the grid. Data centers are expected to more than triple their U.S. power draw by 2035, and someone has to build the infrastructure to keep the lights on. GE Vernova sits at the intersection of natural gas, nuclear, and renewables, giving it multiple shots on goal as the “electricity supercycle” begins. The stock already trades at a lofty 90x forward earnings, but bulls argue demand could keep it powered up for years. For investors, GE Vernova is less about today’s earnings and more about owning a toll booth on AI’s energy highway.
Source: ainvest.com

1. Lego posts record $5.4B revenue

The News: Lego built itself a record half-year, posting $5.4 billion in revenue for the first six months of 2025, up 12% year-over-year. Consumer sales rose 13%, while operating profit climbed 10% to $1.4 billion, as the Danish toy giant outpaced the broader toy industry. Key drivers included the launch of 314 new sets (an all-time high), a record-breaking Botanicals line, strong sales from Lego City, Technic, and Star Wars, plus new partnerships like Formula 1. Global expansion also played a big role, with a new $1B Vietnam factory and 24 new retail stores opened worldwide.

Why It Matters: Lego’s results highlight how IP-driven products and strategic expansion can insulate consumer brands even in a choppy retail environment. By marrying nostalgia (Star Wars), lifestyle (Botanicals), and cultural icons (Formula 1, Pokémon coming 2026), Lego continues to capture both kids and adults. For investors and competitors alike, the message is clear: in a fragmented retail world, brands that can create must-have products across age groups and geographies hold the pricing power. And for Lego, it’s one more reminder that growth is best measured brick by brick.
Source: lego.com

2. Panama Canal plans new port sales ahead of BlackRock deal

The News: The Panama Canal Authority unveiled plans to auction rights for two new ports on the Atlantic and Pacific coasts as part of an $8.5 billion expansion strategy. The move is designed to boost competition and dilute the influence of global shipping giants Mediterranean Shipping Co. (MSC) and China’s state-owned Cosco. The new facilities, expected to be tendered in early 2026, will be owned by the Canal Authority but operated by private bidders. Major players like Maersk’s APM Terminals and CMA CGM are expected to bid, while Cosco will be barred.

Why It Matters: The canal handles 5% of global trade and generates nearly 8% of Panama’s GDP, making its neutrality a global concern. With MSC and BlackRock in a $22.8B deal to acquire existing Hutchison-run ports, and Beijing pushing for Cosco’s inclusion, Panama is trying to prevent one country, or one company, from dominating its chokepoint. For shippers, more operators mean more competition, potentially lower costs, and upgraded infrastructure. For geopolitics, it’s a reminder that the Panama Canal isn’t just a waterway, it’s a power play.
Source: wsj.com

3. French political crisis carries economic risk

The News: France’s political turmoil is colliding with its fragile economy, with Carrefour, a French multinational retail corporation and one of the world's largest retailers, CEO Alexandre Bompard warning that recession risks are rising as instability rattles consumer confidence. Prime Minister François Bayrou has called a confidence vote for September 8, a gamble that opposition parties say they’ll use to topple his minority government. Meanwhile, Bayrou’s proposed €44B in budget cuts triggered a market selloff and fierce backlash from unions and opposition parties.

Why It Matters: France, the eurozone’s second-largest economy, is entering a dangerous feedback loop: political dysfunction breeds weaker consumer confidence, which threatens growth, which then fuels deeper discontent with government. Investors are already pricing in higher risk, and even if Bayrou survives the vote, a new PM or snap elections could prolong the instability. As Carrefour’s CEO put it bluntly: “Only consumption is sustaining growth. This has created a recessionary risk.” In other words, France’s economy may now hinge on whether its politics can keep the checkout lines moving.
Source: reuters.com

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