• Stripe buys OpenRouter: Stripe is acquiring OpenRouter for more than $7B, gaining an AI-model routing platform used by 8M developers and strengthening its position in AI infrastructure. Source: Bloomberg.
• Meta faces landmark child-safety trial: Meta (META) is heading to federal court on Tuesday as four states seek up to $1.4T in penalties, alleging Facebook and Instagram were designed to addict children and unlawfully collect their data. Source: NPR.
• Anthropic valuation hinges on growth: Anthropic projects $190–$200B in 2028 revenue as bankers value its IPO on forward sales multiples, underscoring how much of the offering’s valuation depends on sustaining extraordinary AI growth. Source: Reuters.
• AstraZeneca halts lung cancer trial: AstraZeneca (AZN) is stopping a late-stage volrustomig lung cancer trial after the drug failed to outperform Keytruda. Two other late-stage cancer trials, using different drugs, produced positive results. Source: Bloomberg.
• Disney unveils D23 pipeline: Disney (DIS) announced major theme-park expansions and a slate of films and shows at D23, including Frozen 3, Incredibles 3, and new Marvel and Star Wars projects. Source: ABC.
• OpenAI reshapes safety teams: OpenAI reportedly disbanded its preparedness team and shifted bio and cyber risk work to existing teams, marking another safety reorganization. Source: The Verge.
• PayPal's potential sale: PayPal (PYPL) is reportedly still in talks to sell itself to Stripe and Advent International after rejecting their $60.50-a-share offer, which valued the company at about $53B. Source: WSJ.
• Bumble drops women-first rule: Bumble (BMBL) is allowing men to message first after trials showed higher engagement and 66% of surveyed women said they preferred it. Source: BBC.
• Google expands Gemini in schools: Alphabet (GOOGL) has enabled Gemini in Classroom for students of all ages at schools that permit access, widening its push into education despite concerns. Source: NY Times.
• Berkshire boosts Alphabet stake: Berkshire Hathaway (BRK.B) increased its Alphabet (GOOGL) stake 83% to $37.9B, making it its third-largest U.S.-listed holding. It also raised bets on Delta (DAL), Lennar (LEN), and D.R. Horton (DHI). Source: CNBC.
• Ferrari EV sets auction record: Ferrari's (RACE) first electric car, the Luce, sold for $40M at a charity auction — more than 35 times its standard price and a record for a new vehicle sold at auction. Source: BBC.

• Oil reserve nears risk threshold: The U.S. Strategic Petroleum Reserve fell below 300M barrels, nearing levels experts say could impair pumping capacity and damage storage caverns. Source: CNBC.
• Hormuz shipping nearly halts: Shipping through the Strait of Hormuz is slowing sharply after tanker attacks, with just five commodity vessels transiting on Saturday and none on Sunday. Source: Reuters.
• Greece accelerates debt reduction: Greece plans about €13B of early debt repayments in 2026, supported by budget surpluses and strong liquidity. Its debt-to-GDP ratio is projected to fall to 137% this year. Source: Bloomberg.
• China’s economy loses steam: China’s July retail sales rose just 0.6%, and industrial output grew 4.5%, both below forecasts, while investment fell 6.7% through July. Broad weakness is increasing expectations for additional fiscal and monetary stimulus. Source: CNBC.
• Japan growth misses forecasts: Japan’s economy grew 1.1% annualized in Q2, below the 2% forecast, as strong exports offset weaker consumption and investment. Higher energy costs are expected to pressure inflation and household purchasing power. Source: CNBC.
• German firms cut U.S. investment: German companies’ U.S. direct investment plunged nearly two-thirds year over year to €4.3B in the first half — a three-year low — amid tariff uncertainty. Source: Reuters.

• Ukraine intensifies drone war: Ukraine launched hundreds of drones across Russia on Sunday, killing at least six people and hitting infrastructure. Russian strikes killed five in Ukraine and partially halted operations at its largest steel producer. Source: AP.
• Middle East risks stay elevated: Israel-Hezbollah fighting and renewed Gaza strikes are undermining ceasefire efforts as the U.S.-Iran truce expires without a deal. Jared Kushner is meeting with Benjamin Netanyahu today. Meanwhile, the U.S. is sending the USS George Washington to replace the USS Abraham Lincoln after more than 250 days deployed, highlighting personnel strain. Sources: Bloomberg / CNN / WSJ.
• Indonesian quake kills 51 people: A magnitude-7.7 earthquake in Flores killed at least 51 people, injured 101, and displaced about 5,000 after landslides destroyed or damaged more than 1,300 homes. Source: NPR.
• Storms and floods devastate states: Record flooding in Indiana killed at least six people and damaged homes, businesses, and infrastructure. In Hawaii, Tropical Storm Lala damaged at least 100 homes, flooded roads, and left 150,000+ customers without power. Sources: WSJ / CNN.
• U.S. scales back Korea drills: President Trump said the U.S. will substantially reduce joint military exercises with South Korea, citing costs, his ties with North Korea’s Kim Jong Un, and Seoul’s refusal to support the Iran war. Source: BBC.
• China seeks AI data influence: Beijing plans to become a major global supplier of AI training data by 2028, aiming to strengthen Chinese models and expand its technological influence while raising concerns that state narratives could spread through global chatbots. Source: NY Times.

• 8:30 AM: NY Empire State Manufacturing Index
• 10:00 AM: NAHB Housing Market Index
• 4:00 PM: Net Long-Term TIC Flows
• Tuesday: Building Permits Prelim., Housing Starts
• Wednesday: FOMC Minutes

• There are no major recent earnings to report today, but you can check the earnings calendar for a complete list.

XP Inc. (XP) will report today after close.

• Analysts estimate revenue of $976.54M (+24.19% YoY).
• EPS is estimated to be $0.51 (+18.60% YoY).
• Financials · As Reported · Metrics

Klarna Group (KLAR) will report tomorrow before market open.

• Analysts estimate revenue of $994.69M (n/a YoY).
• EPS is estimated to be -$0.06.
• Financials · As Reported · Metrics

Keysight Technologies (KEYS) will report tomorrow after market close.

• 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 tomorrow before market open.

• 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 tomorrow before market open.

• Analysts estimate revenue of $47.34B (+4.55% YoY).
• EPS is estimated to be $4.73 (+1.07% YoY).
• Financials · As Reported · Metrics

Target (TGT) will report Wednesday.

• Analysts estimate revenue of $25.69B (+1.90% 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 $2.14B (+13.69% 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

Walmart (WMT) will report Thursday.

• Analysts estimate revenue of $186.77B (+5.28% YoY).
• EPS is estimated to be $0.74 (+8.82% 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

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

• Estimated Wednesday, Aug. 19: Lyntris Inc. (LYNX), a defense technology company with $450.84M in TTM revenue and 16.5% revenue growth YoY.