• Market overview: Nasdaq-100 futures fell 1.9% as a global semiconductor selloff intensified on concerns over AI spending. The VanEck Semiconductor ETF dropped 6.9% this week, while Nvidia (NVDA) fell 3% in premarket trading. Source: CNBC.
• Moonshot unveils AI model: Chinese startup Moonshot AI launched Kimi K3, saying it rivals leading U.S. AI models and outperforms some OpenAI and Anthropic functions. Sources: CNBC / Bloomberg.
• Google delays Gemini 3.5 Pro: Alphabet (GOOGL) delayed Gemini 3.5 Pro by months as Google works to improve coding performance. The setback raises concerns about AI market position. Source: Bloomberg.
• Netflix outlook disappoints: Netflix (NFLX) reported 13% Q2 revenue growth and a nearly 10% increase in net income, but forecast slower Q3 sales growth. Shares fell about 9% after hours on the weaker outlook. Sources: NY Times / Reuters.
• Verizon expands restructuring: Verizon (VZ) will sell 274 company-owned stores and cut about 500 corporate jobs as part of a broader restructuring affecting roughly 3,000 employees. Source: Reuters.
• Meta hires AWS executive: Meta (META) plans to hire longtime Amazon Web Services (AMZN) executive Dave Brown to help lead its AI data center expansion. The move supports Meta's growing infrastructure ambitions, including a potential cloud business. Source: WSJ.
• SpaceX aborts Starship test: SpaceX (SPCX) shares fell 3.5% in premarket trading after an engine ignition failure forced the company to abort its latest Starship test flight. Source: CNBC.
• Taco Bell lettuce linked to outbreak: Federal health officials linked shredded iceberg lettuce supplied to Taco Bell (YUM) restaurants in five states to a parasitic outbreak. Taco Bell removed the supplier nationwide as the investigation continues. Source: WSJ.
• Truth Social launches trading feed: Trump Media & Technology (DJT) will launch a paid Truth API on Aug. 1, giving banks and trading firms faster access to market-moving posts. The move creates a new revenue stream but raises questions about monetizing access to presidential communications. Source: Reuters.
• ASML balances China exposure: ASML (ASML) expects China to generate about 20% of 2026 revenue despite mounting U.S. pressure for tighter export controls. Source: CNBC.
• Intuitive warns on demand: Intuitive Surgical (ISRG) fell more than 12% after warning that insurance coverage changes could delay elective procedures, though it maintained its 2026 outlook. Source: Reuters.
• Volvo flags China weakness: Volvo Cars (STO:VOLV.B) expects stronger 2H profitability despite a 35% sales drop in China and rising raw material costs. Shares fell about 8% as investors weighed margin pressure against planned cost savings and higher EX60 production. Source: Reuters.

• Economic pessimism persists: A survey found 61% of Americans are pessimistic about the economy despite lower inflation and rising stocks. Source: CNBC.
• Import prices keep rising: U.S. import prices rose 0.3% in June after a 1.7% gain in May, lifting annual import inflation to 7.1%, the highest since 2022. Export prices fell 0.6% in June, though they remained up 10.2% from a year earlier. Source: BLS.
• Olive oil market stabilizes: Deoleo, the world's largest olive company, said improved harvest prospects have ended recent market volatility, supporting lower prices and recovering demand. Source: CNBC.
• Oil majors back Iraq: BP p.l.c. (BP) and ConocoPhillips (COP) are expected to announce multibillion-dollar investments in Iraq as the U.S. seeks to strengthen the country’s energy sector and reduce reliance on routes threatened by Iran. Source: CNBC.

• U.S.-Iran conflict intensifies: The U.S. launched a sixth night of strikes on Iran. In return, Iran said it targeted U.S. military forces in Syria and Bahrain. Iran has also asked Yemen's Houthis to prepare to close the Bab el-Mandeb Strait — another key global oil route — if the U.S. attacks its power infrastructure. Sources: AP / CNBC / Reuters.
• Xi expands AI outreach: Chinese President Xi promoted open-source AI and criticized restrictions on technology. He also pledged AI training and deeper cooperation with developing nations. Sources: CNBC / WSJ.
• Burnham takes Labour helm: Andy Burnham became Labour Party leader and is set to become Britain’s PM on Monday. He pledged greater public control of essential services, stronger local government, and policies to revive economic growth. Source: NY Times.
• The latest from Washington: President Trump alleged vulnerabilities in U.S. elections without presenting new evidence; election experts said the released documents largely echoed previously known information. Treasury's top tax policy official, Kenneth Kies, is leaving after clashing with the White House over potential IRS audit requests he warned could violate federal law. Finally, the SEC says it's received a record 200,000-plus comments, mostly opposing, about its proposal to make quarterly earnings reports optional. Sources: NPR / WSJ / WSJ.
• Texas flooding turns deadly: Flash floods in Texas Hill Country killed two people and prompted evacuations and rescues, just one year after devastating floods in the region. More heavy rain is forecast. Source: WSJ.
• Wildfire smoke blankets cities: Smoke from more than 800 Canadian wildfires triggered hazardous air quality alerts across parts of Canada and the U.S.. Source: BBC.

• 8:30 AM: Building Permits Prelim.
• 8:30 AM: Housing Starts
• 8:30 AM: Export and Import Prices MoM & YoY
• 9:15 AM: Industrial Production MoM
• 10:00 AM: MIchigan Consumer Sentiment Prelim.

Netflix (NFLX) has released its quarterly earnings.

• Revenue of $12.56B (+13.37% YoY) misses by $19.15M.
• EPS of $0.80 (+11.11% YoY) beats by $0.01.
• Financials · As Reported · Metrics · Press Release

Intuitive Surgical (ISRG) has released its quarterly earnings.

• Revenue of $2.89B (+18.52% YoY) beats by $70.70M.
• EPS of $2.80 (+27.85% YoY) beats by $0.39.
• Financials · As Reported · Metrics · Press Release

The Travelers Companies (TRV) has released its quarterly earnings.

• Revenue of $12.15B (+0.31% YoY) beats by $923.67M.
• EPS of $10.04 (+54.22% YoY) beats by $5.10.
• Financials · As Reported · Metrics · Press Release

Truist Financial (TFC) has released its quarterly earnings.

• Revenue of $5.27B (+4.67% YoY) beats by $35.79M.
• EPS of $1.23 (+35.16% YoY) beats by $0.15.
• Financials · As Reported · Metrics · Press Release

Fifth Third Bancorp (FITB) has released its quarterly earnings.

• Revenue of $3.28B (+45.73% YoY) beats by $25.15M.
• EPS of $1.02 (+13.33% YoY) beats by $0.14.
• Financials · As Reported · Metrics · Press Release

Regions Financial (RF) has released its quarterly earnings.

• Revenue of $1.95B (+2.20% YoY) misses by $2.77M.
• EPS of $0.68 (+13.33% YoY) beats by $0.05.
• Financials · As Reported · Metrics · Press Release

Marsh & McLennan Companies (MRSH) will report Tuesday.

• Analysts estimate revenue of $7.28B (+4.41% YoY).
• EPS is estimated to be $2.90 (+6.62% YoY).
• Financials · As Reported · Metrics

3M Company (MMM) will report Tuesday.

• Analysts estimate revenue of $6.39B (+3.74% YoY).
• EPS is estimated to be $2.24 (+3.70% YoY).
• Financials · As Reported · Metrics

América Móvil (AMX) will report Tuesday.

• Analysts estimate revenue of $13.77B (+14.87% YoY).
• EPS is estimated to be $0.52 (+36.84% YoY).
• Financials · As Reported · Metrics

Northrop Grumman (NOC) will report Tuesday.

• Analysts estimate revenue of $10.79B (+4.27% YoY).
• EPS is estimated to be $6.81 (-4.22% YoY).
• Financials · As Reported · Metrics

Alphabet (GOOGL) will report Wednesday.

• Analysts estimate revenue of $113.63B (+17.84% YoY).
• EPS is estimated to be $2.87 (+24.24% YoY).
• Financials · As Reported · Metrics

Tesla (TSLA) will report Wednesday.

• Analysts estimate revenue of $25.24B (+12.18% YoY).
• EPS is estimated to be $0.44 (+10.00% YoY).
• Financials · As Reported · Metrics

CSX Corporation (CSX) will report Wednesday.

• Analysts estimate revenue of $3.77B (+5.56% YoY).
• EPS is estimated to be $0.49 (+11.36% YoY).
• Financials · As Reported · Metrics

Moody's (MCO) will report Wednesday.

• Analysts estimate revenue of $2.06B (+8.53% YoY).
• EPS is estimated to be $4.18 (+17.42% YoY).
• Financials · As Reported · Metrics

Equinor ASA (EQNR) will report Wednesday.

• Analysts estimate revenue of $35.84B (+42.72% YoY).
• EPS is estimated to be $1.49 (+132.81% YoY).
• Financials · As Reported · Metrics

Comcast (CMCSA) will report Thursday.

• Analysts estimate revenue of $29.26B (-3.47% YoY).
• EPS is estimated to be $0.97 (-22.40% YoY).
• Financials · As Reported · Metrics

Norfolk Southern (NSC) will report Thursday.

• Analysts estimate revenue of $3.25B (+4.61% YoY).
• EPS is estimated to be $3.20 (-2.74% YoY).
• Financials · As Reported · Metrics

• There are no remaining IPOs expected this week. To see all upcoming IPOs, check out our IPO calendar.