Good Afternoon. Around this time in 2019, “Old Town Road” by Lil Nas X broke the record for the longest-running #1 song in Billboard history. Today, Alphabet’s earnings are riding high on the charts too sending markets galloping into record territory. Enjoy today’s ride.

—Rosie, Wyatt, Evan & Conor

🔥 What’s Hot: 🔥

🥶 What’s Not: 🥶

1. OpenAI prepares to release advanced GPT-5 model in August

The News: OpenAI is poised to release its next-generation GPT-5 AI model as early as August 2025, with CEO Sam Altman confirming a summer launch. The new model promises major advances, including unified text, image, audio, and video processing, bigger memory (up to 1 million tokens), better reasoning, and improved accuracy. Both free and paid users will get access, with enterprise clients already testing early versions.

Why It Matters: GPT-5 is expected to set a new benchmark for AI performance, raising the bar for everything from creative content to business automation. Its expanded capabilities will likely intensify competition among tech giants and could reshape how millions of people and companies interact with AI every day.
Source: theverge.com

2. S&P 500 and Nasdaq hit records, lifted by Alphabet

The News: The S&P 500 and Nasdaq notched fresh record highs Thursday, powered by strong earnings from Alphabet (Google’s parent), which boosted confidence in heavyweight AI stocks. Microsoft, Nvidia, and Amazon all rallied over 1%. Optimism was further fueled by progress on U.S.-Japan and U.S.-EU trade talks, easing global uncertainty. Still, tech and communication services led sector gains, and robust jobless claims data underscored U.S. economic resilience.

Why It Matters: Big Tech earnings, and Alphabet’s strong AI results, are driving the latest leg of the market rally, helping offset worries about trade wars and interest rates. Meanwhile, progress in global trade negotiations is giving Wall Street a needed dose of confidence. The S&P 500 and Nasdaq reaching new highs signals ongoing optimism for U.S. stocks, especially in tech and AI, but volatility remains as earnings season delivers both big winners and losers.
Source: reuters.com

3. Tesla stock slides after earnings miss, Musk warns of 'few rough quarters'

The News: Tesla shares slid more than 9% Thursday after the company missed second-quarter earnings and revenue expectations, with CEO Elon Musk warning of “a few rough quarters” ahead. Revenue dropped 12% year-over-year to $22.5 billion, with earnings per share also falling short. The expiration of federal EV tax credits, sluggish U.S. sales, and increased competition are all weighing on the automaker.

Why It Matters: Tesla’s rocky quarter comes as U.S. markets set new highs, spotlighting the disconnect between the broader rally and EV sector struggles. With tax credits expiring, weaker U.S. sales, and a shifting consumer landscape, Tesla is looking for new ways to engage fans and keep its brand front-and-center. The new Tesla diner—a retro-themed charging station and restaurant in Los Angeles— is part marketing stunt, part loyalty play—but it remains to be seen if novel concepts like this, alongside robotaxis and affordable models, can recharge growth in the quarters ahead.
Source: finance.yahoo.com

4. iOS 26 beta 4 arrives, with Liquid Glass tweaks

The News: Apple has released the first public beta of iOS 26, debuting its striking new “Liquid Glass” interface an ultra-modern, transparent design language that visually unifies iPhone elements with a sleek, glass-like look. The update also brings enhanced AI-powered features, including smart notification summaries and live translation, plus dynamic wallpapers that adapt to your environment and system settings. Notification summaries, powered by “Apple Intelligence,” return with improved controls and clear warnings to help prevent misinterpretation.

Why It Matters: For Apple fans, it’s a glimpse into the next era of iPhone experience. iOS 26’s bold design shift signals where Apple is heading visually and possibly hints at future iPhone hardware changes to match the “glass” aesthetic. The smarter AI features and highly customizable interface raise the bar for what users expect from their phones, while also putting new pressure on competitors to keep up. Just keep an eye on your battery life as the new interface is more computational heavy. Is this Apple’s secret weapon to get people to upgrade their phones?
Source: techcrunch.com

5. T-Mobile launches nationwide Starlink satellite texting

The News: T-Mobile has launched T-Satellite, a nationwide service that brings Starlink-powered satellite texting and location sharing to smartphones across the U.S.—no extra hardware needed. Covering over 500,000 square miles of previously unreachable areas, T-Satellite connects automatically when you lose cell signal, letting users stay in touch even off the grid. The service is free for T-Mobile’s top-tier plans or $10/month for others, and it works for most recent iPhones, Galaxies, Pixels, and more.

Why It Matters: This is definitely not your grandma’s landline. T-Satellite is a big leap for mobile connectivity keeping users reachable in dead zones, emergencies, or natural disasters, and making “no signal” a thing of the past. The move gives T-Mobile a head start over AT&T and Verizon in the race for nationwide satellite coverage, and hints at a new era where everyone, everywhere, can stay connected.
Source: cnet.com

1. Chinese hackers breach US nuclear agency in SharePoint attack

The News: Chinese state-sponsored hackers breached the US National Nuclear Security Administration (NNSA), the agency in charge of America’s nuclear arsenal, by exploiting critical zero-day vulnerabilities in Microsoft SharePoint servers, according to government officials and cybersecurity researchers. The attack, attributed to three China-linked groups (Linen Typhoon, Violet Typhoon, and Storm-2603), compromised more than 400 organizations worldwide—including US government agencies, state legislatures, and major universities. While the Department of Energy reported that only a small number of its systems were affected and no classified data was stolen, the scale and speed of the campaign have alarmed security experts. Emergency patches have been released, but authorities warn that attackers may still have persistent access to compromised systems.

Why It Matters: This breach is a wake-up call for every organization running on-premises Microsoft SharePoint: even top-tier agencies like the NNSA were compromised. Hundreds of entities, public and private, remain at risk due to critical flaws that are actively exploited by sophisticated state-backed hackers. For you personally, ensure you have multi-factor authentication active and think about when the last time you updated your passwords.
Source: foxnews.com

2. European Central Bank holds key interest rate at 2% amid US-EU trade uncertainty

The News: The European Central Bank (ECB) held its key interest rate steady at 2% this month, pausing its historic easing cycle after eight consecutive rate cuts. The move reflects growing caution as US-EU trade tensions escalate, with President Trump threatening up to 30% tariffs on European imports starting August 1. ECB President Christine Lagarde cited “exceptionally uncertain” conditions, saying trade negotiations and possible tariffs could disrupt growth, investment, and inflation expectations.

Why It Matters: While we’re dreaming of 2% rates, With inflation back to the ECB’s 2% target and eurozone growth still positive, the central bank is now in a wait-and-see mode, mirroring the US Federal Reserve’s pause. A tariff shock could push prices higher, disrupt supply chains, and force the ECB to cut rates again as soon as September to cushion the blow. The outcome of US-EU talks will set the tone for global markets and shape monetary policy decisions on both sides of the Atlantic.
Source: apnews.com

3. Germany's Deutsche Bank shares gain 9% after second-quarter profit beat

The News: Deutsche Bank shares surged 9% after reporting €1.49 billion in second-quarter profit, far outpacing forecasts. Investment banking revenue rose 3%, driven by strong trading, while dealmaking lagged and corporate loan growth stayed sluggish. Executives cited renewed momentum thanks to Germany’s political stability and new defense-related business.

Why It Matters: The strong results highlight resilience among European banks, even as rate cuts and trade tensions loom. Deutsche Bank’s upbeat outlook is boosting investor confidence, but upcoming US-EU tariff decisions and weak loan growth could threaten gains if conditions worsen.
Source: cnbc.com

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