- Market Gains: The S&P 500 and Nasdaq Composite secured six-day winning streaks, with the S&P up 1.61% and the Nasdaq up 2.34% on Thursday. The Dow Jones also rose 1.39%, marking three consecutive positive sessions. The market rebound, driven by positive economic data, continues to gain momentum.
- Consumer Spending: Consumer spending in July exceeded expectations, with advanced retail sales growing by 1%. Walmart CEO Doug McMillon noted that prices on groceries and other items are falling, reflecting eased inflation pressures.
- Kamala Harris’ Economic Proposals: Vice President Kamala Harris, the Democratic presidential nominee, is set to unveil economic proposals aimed at reducing grocery and prescription drug costs, expanding affordable housing, and cutting taxes for the middle class in her first 100 days.
- Peacock’s Sports Expansion: NBCUniversal’s Peacock streaming service, deepening its involvement in sports, has seen positive returns from its investment in NBA and NFL broadcasting rights. This strategy has led to increased subscriber retention and engagement.
- Russian Hack-to-Trade Scandal: A CNBC investigation revealed details of a $93 million Wall Street heist orchestrated by Russian hackers who traded on nonpublic information. Vladislav Klyushin, one of the key figures, was recently released as part of a U.S. prisoner swap.
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