Market Decline
Major indexes fell on Friday, with the S&P 500 down 1.84%, Nasdaq Composite down 2.43%, and Dow Jones down 1.51%. The July jobs report showed weaker-than-expected growth, with nonfarm payrolls increasing by only 114,000 and the unemployment rate rising to 4.3%.
Earnings Season
The second half of earnings season continues with over 70 S&P 500 companies reporting, including Disney and Eli Lilly. So far, 78% of companies have beaten estimates, with a 11% year-over-year profit growth for the S&P 500.
CrowdStrike vs. Delta
CrowdStrike denies responsibility for Delta’s flight cancellations in July, claiming Delta rejected their onsite help during an IT outage. Delta's CEO said the cancellations cost the company around $500 million.
Berkshire Hathaway Cuts Apple Stake
Warren Buffett’s Berkshire Hathaway reduced its Apple stake by nearly half, now valued at $84.2 billion at the end of Q2. Berkshire also sold over $75 billion in stocks, increasing its cash reserves to a record $277 billion.
Elon Musk's PAC Under Investigation
Michigan’s secretary of state is investigating an Elon Musk-backed PAC for potentially mishandling voter information. The PAC collects detailed voter data from residents in battleground states but lacks clarity on how this data is used.
Major indexes fell on Friday, with the S&P 500 down 1.84%, Nasdaq Composite down 2.43%, and Dow Jones down 1.51%. The July jobs report showed weaker-than-expected growth, with nonfarm payrolls increasing by only 114,000 and the unemployment rate rising to 4.3%.
Earnings Season
The second half of earnings season continues with over 70 S&P 500 companies reporting, including Disney and Eli Lilly. So far, 78% of companies have beaten estimates, with a 11% year-over-year profit growth for the S&P 500.
CrowdStrike vs. Delta
CrowdStrike denies responsibility for Delta’s flight cancellations in July, claiming Delta rejected their onsite help during an IT outage. Delta's CEO said the cancellations cost the company around $500 million.
Berkshire Hathaway Cuts Apple Stake
Warren Buffett’s Berkshire Hathaway reduced its Apple stake by nearly half, now valued at $84.2 billion at the end of Q2. Berkshire also sold over $75 billion in stocks, increasing its cash reserves to a record $277 billion.
Elon Musk's PAC Under Investigation
Michigan’s secretary of state is investigating an Elon Musk-backed PAC for potentially mishandling voter information. The PAC collects detailed voter data from residents in battleground states but lacks clarity on how this data is used.