Global Markets React to Earnings and Trade News

The article discusses Tesla's recent struggles, including a second consecutive quarter of declining auto sales, a drop in market share in Europe, and potential negative impacts from the Trump administration's plans to roll back EV regulations. Meanwhile, the S&P 500 and Nasdaq Composite reached new records, driven by Alphabet's strong earnings. Other news includes Intel's mixed quarterly results and an Indian pharmaceutical company's bet on weight-loss drugs.

Tesla faces a triple whammy: declining auto sales, potential regulatory changes under the Trump administration that could impact its EV tax credits and revenue from selling regulatory credits, and a significant loss from its bitcoin holdings sale in 2022. Meanwhile, the S&P 500 and Nasdaq Composite reached new records, Intel beat revenue estimates but reported a net loss, and India expects preferential tariffs from the U.S.

The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all rose on Friday, closing out a winning week driven by solid earnings results and recent trade developments. The S&P 500 jumped 0.40% to 6,388.64, its 14th record close of the year. The Nasdaq Composite rose 0.24% to 21,108.32, and the Dow Jones Industrial Average climbed 208.01 points to 44,901.92. Earnings season has been strong, with over 82% of S&P 500 companies beating expectations. Trade agreements, including a 'massive' deal with Japan, have also supported the market. Investors are preparing for the busiest week of earnings season and a Federal Reserve meeting next week.

The stock market is experiencing a surge, with the S&P 500 and Nasdaq Composite reaching new record highs. Strong earnings reports and trade deals have contributed to the growth. Investors are awaiting further trade announcements and the Federal Reserve's next meeting. Recent developments include a potential trade deal between the US and India, and the approval of the merger between Paramount and Skydance Media.

Volkswagen reported a 29% drop in second-quarter profit due to high costs from increased U.S. import tariffs and restructuring costs. The company lowered its full-year guidance, citing a significant impact from U.S. tariffs, which cost 1.3 billion euros in the first six months. Volkswagen's operating profit was 3.83 billion euros, missing analyst expectations. The company is navigating industry challenges, including competition from Chinese car brands and U.S. tariffs.

Volkswagen reported a 29% drop in second-quarter profit due to high costs from increased U.S. import tariffs, leading to a downward revision of its full-year guidance. The company's operating profit fell to 3.83 billion euros, missing analyst expectations. Despite strong product success, Volkswagen struggled with higher sales of lower-margin electric models and restructuring measures.

The article discusses the upcoming events that may impact the stock market, including the Federal Reserve meeting, earnings reports from the Magnificent Seven companies, jobs report, and trade deadline. The market is at an all-time high, but volatility is expected to increase due to various macroeconomic and fiscal headwinds. The Fed is expected to hold its benchmark borrowing rate steady, and investors will be watching the earnings reports from the hyperscalers to gauge their AI spending strategies. The jobs report and inflation data will also be closely watched. The trade deadline on August 1 may also impact the market.

The article argues that the world should follow the United States' lead in regulating stablecoins, citing the recently passed Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act signed by President Donald Trump. The law is seen as a positive step towards innovation in the crypto industry, while European leaders are more cautious, warning about the potential risks of stablecoins.

Media Matters, a liberal nonprofit group, is facing a crisis due to legal assaults by President Trump's allies and Elon Musk, resulting in $15 million in legal fees over 20 months. The group has slashed its staff, scrambled to raise cash, and considered shutting down. Despite publicly stating its commitment to defending itself, Media Matters has dialed back its criticism of Musk and the Trump FTC, and has faced plummeting staff morale and security concerns.