• Market recap: The S&P 500 closed at a record high yesterday, just shy of 7,800 points. The Dow and Nasdaq rose as well. Source: CNBC.
• Anthropic may hit $2T valuation: Anthropic investors expect an October IPO could value the AI company at $2T or more, potentially the largest listing ever. Annualized revenue is projected to reach $100–$120B by year-end. Sources: FT / Ars Technica.
• Silver Lake eyes Workday: Workday (WDAY) vaulted 18% after Silver Lake entered talks to acquire the software company, valued at $43B. The potential deal would rank among the largest software buyouts ever. Source: Reuters.
• Reddit rockets 12% on S&P 500 inclusion: Reddit (RDDT) jumped 12% premarket after gaining access to the S&P 500. The company will replace AvalonBay (AVB) on Aug. 18th. Source: CNBC.
• Applied Materials falls on earnings: Applied Materials (AMAT) forecast Q4 revenue of $10.25B, well above the $9.54B estimate, as AI chip spending boosts demand. Shares fell 6% premarket as lofty expectations overshadowed the beat. Source: Reuters.
• OpenAI replaces exec as revenue tops $40B: OpenAI is swapping revenue chief Denise Dresser after just 8 months with former Wiz exec Dali Rajic as it seeks to accelerate enterprise growth. Separately, its annualized revenue has surpassed $40B, roughly doubling from year-end 2025. Source: NY Times / Bloomberg.
• Apple updates: Apple (AAPL) opened a Houston factory where it is assembling AI servers and plans to produce Mac Minis later this year. Separately, the tech giant trained a China-specific AI model with Alibaba’s (BABA) support. Sources: CNBC / Reuters / The Verge.
• Google's SpaceX bet pays off: Google's (GOOGL) $900M SpaceX (SPCX) investment from 2015 was worth $94.2B on June 30, a more than 100-fold gain. Its 551.2M shares make it SpaceX’s largest disclosed institutional holder. Source: Reuters.
• Uber expands robotaxi push: Uber (UBER) and Pony.ai (PONY) plan to deploy 2K robotaxis across Europe and expand their partnership into the Middle East. Pony.ai rose 1.6%. Source: CNBC.
• TerraPower's Korean deal: Bill Gates's reactor firm TerraPower and SK Innovation (KRX:096770) signed a preliminary pact for SK to participate in various nuclear projects in the U.S. and abroad. Source: Reuters.
• Backlash grows over Twitch's AI plan: Amazon-owned (AMZN) live-streaming platform Twitch is using creator content to train Amazon’s generative AI models, prompting widespread user discontent. Twitch says users can disable AI training in their privacy settings. Source: BBC.
• Flock tightens surveillance controls: Surveillance firm Flock is mandating tools that flag suspicious police searches, following reports that officers used its tracking technology to stalk exes. Source: The Verge.

• Charter wins Cox approval: Charter (CHTR) secured final regulatory approval for its $21.9B Cox acquisition after agreeing to provide low-cost internet plans. The deal will create the largest U.S. internet and video provider by subscribers. Charter rose 4.2%. Source: WSJ.
• Kalshi banned in Washington State: A Washington judge ordered Kalshi to halt most betting and advertising in the state, rejecting the company's argument that only the federal government can regulate it. Source: NY Times.

• Retail sales hit 1-year low: U.S. retail sales fell 0.6% in July, versus a 0.1% expected gain. The drop was the largest in over 12 months. Source: Bloomberg.
• CEO pay hits record: Average compensation for S&P 500 CEOs rose 21% to a record $22.8M in 2025, as mega-pay packages — inspired by Elon Musk's pay deal — spread. The CEO-to-worker pay ratio widened to 312:1. Source: Reuters.
• Swiss growth surges: Switzerland’s GDP rose 1.5% QoQ in Q2, far above the 0.3% forecast and the fastest pace since 2021. The growth was driven by pharmaceuticals, chemicals, and services. Source: Bloomberg.

• Nationalists win in Cook Islands: PM Mark Brown’s nationalist party prevailed in elections in the small island nation, positioning him for a second term. The opposition liberal party tanked, losing all of its seats in parliament. Source: AP.
• Farage retains House of Commons seat: Right-wing British firebrand Nigel Farage comfortably won a by-election to keep his seat after major parties declined to run. A parliamentary investigation into his finances will now resume. Source: CNN.
• 8 perish in Japanese floods: At least 8 people died after record rainfall triggered severe flooding in Japan, stranding thousands. Source: NY Times.
• Trump imposes drone tariffs: President Trump announced tariffs of up to 100% on imported drones and key components, aiming to target Chinese dominance and boost U.S. production. Source: WSJ.
• White House loses Harvard case: A federal judge dismissed the Trump administration’s antisemitism lawsuit against Harvard, siding with the university's claims that it took the harassment of Jewish students seriously. Source: NPR.

• 8:30 AM: Retail Sales MoM
• 8:30 AM: Retail Sales Excl. Autos & Control Group MoM
• 10:00 AM: Michigan Consumer Sentiment Prelim.
• 10:00 AM: Business Inventories MoM

Applied Materials (AMAT) has released its quarterly earnings.

• Revenue of $9.12B (+24.83% YoY) beats by $111.58M.
• EPS of $3.50 (+41.13% YoY) beats by $0.11.
• Financials · As Reported · Metrics · Press Release

Nu Holdings (NU) has released its quarterly earnings.

• Revenue of $5.51B (+50.30% YoY) beats by $39.06M.
• EPS of $0.22 (+69.23% YoY) beats by $0.03.
• Financials · As Reported · Metrics · Press Release

Credicorp (BAP) has released its quarterly earnings.

• Revenue of $1.79B (+13.50% YoY) beats by $71M.
• EPS of $7.29 (+16.83% YoY) beats by $0.09.
• Financials · As Reported · Metrics · Press Release

Fabrinet (FN) will report Monday after market close.

• Analysts estimate revenue of $1.28B (+40.28% YoY).
• EPS is estimated to be $3.79 (+43.02% YoY).
• Financials · As Reported · Metrics

Keysight Technologies (KEYS) will report Tuesday.

• Analysts estimate revenue of $1.75B (+29.33% YoY).
• EPS is estimated to be $2.42 (+40.70% YoY).
• Financials · As Reported · Metrics

Baidu (BIDU) will report Tuesday.

• Analysts estimate revenue of $4.65B (+1.82% YoY).
• EPS is estimated to be $1.35 (-28.95% YoY).
• Financials · As Reported · Metrics

The Home Depot (HD) will report Tuesday.

• Analysts estimate revenue of $47.35B (+4.57% YoY).
• EPS is estimated to be $4.73 (+1.07% YoY).
• Financials · As Reported · Metrics

BHP Group (BHP) will report Tuesday.

• Analysts estimate revenue of $57.99B (+13.12% YoY).
• EPS is estimated to be $5.08 (+27.00% YoY).
• Financials · As Reported · Metrics

Amer Sports (AS) will report Tuesday.

• Analysts estimate revenue of $1.54B (+24.95% YoY).
• EPS is estimated to be $0.10 (+66.67% YoY).
• Financials · As Reported · Metrics

Target (TGT) will report Wednesday.

• Analysts estimate revenue of $25.68B (+1.87% YoY).
• EPS is estimated to be $2.24 (+9.27% YoY).
• Financials · As Reported · Metrics

Viking Holdings (VIK) will report Wednesday.

• Analysts estimate revenue of $2.13B (+13.55% YoY).
• EPS is estimated to be $1.24 (+25.25% YoY).
• Financials · As Reported · Metrics

The Estée Lauder Companies (EL) will report Wednesday.

• Analysts estimate revenue of $3.55B (+3.96% YoY).
• EPS is estimated to be $0.32 (+255.56% YoY).
• Financials · As Reported · Metrics

Sociedad Química y Minera de Chile (SQM) will report Wednesday.

• Analysts estimate revenue of $2.26B (+116.45% YoY).
• EPS is estimated to be $2.04 (+558.06% YoY).
• Financials · As Reported · Metrics

Walmart (WMT) will report Thursday.

• Analysts estimate revenue of $186.82B (+5.31% YoY).
• EPS is estimated to be $0.74 (+8.82% YoY).
• Financials · As Reported · Metrics

Ross Stores (ROST) will report Thursday.

• Analysts estimate revenue of $5.98B (+8.13% YoY).
• EPS is estimated to be $1.81 (+16.03% YoY).
• Financials · As Reported · Metrics

NetEase (NTES) will report Thursday.

• Analysts estimate revenue of $4.30B (+10.44% YoY).
• EPS is estimated to be $2.28 (+10.14% YoY).
• Financials · As Reported · Metrics

Alibaba (BABA) will report Thursday.

• Analysts estimate revenue of $38.63B (+11.74% YoY).
• EPS is estimated to be $1.85 (-10.19% YoY).
• Financials · As Reported · Metrics

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