Some BMW owners are upset after full-screen ads for the new Spider-Man movie started taking over their cars' control displays late last month.

SpaceX reported better than expected revenue in its first post-IPO earnings, with revenue of $7.8 billion, up 92% year over year. However, shares fell in after-hours trading when investors saw the company's significant spending on AI capabilities.

McDonald's is making changes to its U.S. operations.

MySpace is attempting to make a return.

The S&P 500 hit a record high yesterday as investors parsed signals from the White House that a deal to open the Strait of Hormuz was imminent.

Wayfair soared after it said that consumers are buying a lot of bed frames and decorative trays again following a post-pandemic slowdown.

SpaceX is down in the pre-market session after posting better-than-expected revenue results yesterday in its first quarterly report as a public company. The scale of Elon Musk's capital spending plans seemed to unnerve investors.

The AI stocks of the highly leveraged hedge fund Situational Awareness that were scooped up at a discount by Citadel proved to be a boon for Ken Griffin's firm. Its flagship fund surged nearly 6% in July.

The S&P 500 just hit a new record closing high of 7,736.52 after the last four sessions saw stocks jump almost 6%, led by massive gains from tech giants after Microsoft, Amazon and Alphabet each reported quarterly results. Palantir Technologies soared 29.5% after its second-quarter results showed strong sales of its AI software platform to corporate clients. Semiconductor stocks and makers of IT hardware for data centers jumped. American producers of components called transceivers, used to connect fiber optic cables carrying data, also rose after reports that the Trump administration was considering banning similar products from Chinese competitors on security grounds.

Industrial stocks have risen amid growing proof that cash from the AI boom — driven by an expectation of almost $800 billion of capital expenditures by hyperscalers this year — is working its way deep into the industrial tissue of the U.S. economy. The S&P 500 industrials are up 20% year to date, which if sustained to year end would be the best performance for the industrial sector since 2019.

The $120 million hardware wallet hack that began July 30 and is still ongoing has produced an unexpected side effect: a sharp spike in bitcoin network activity. The number of unconfirmed transactions waiting in bitcoin's mempool hit 89,031 on Tuesday — the highest since February 2025 — as holders rattled by the Coldcard exploit rushed to shuffle their coins to exchanges and fresh wallets. Santiment data shows active addresses climbed to a three-month high of 712,000 and whale transactions reached a five-month high of 61,800.

Bitcoin remains boxed in the $62,000–$65,000 range it has held since May. The Clarity Act remains the most immediate policy binary: the Senate has a three-day window before its August 10 recess, with passage-by-year-end odds now at just 23% on Polymarket — down from roughly 75% in mid-May — and a proposal to attach prediction-market restrictions adding further process risk.

Arthur Hayes thinks most investors have the AI trade misfiled. In a new essay, the Maelstrom co-founder and BitMEX founder argues the ongoing data-center buildout is a credit story like 2008 — not an earnings story like the 2000 dot-com bust. When the AI credit bubble cracks, Hayes suggests the government bailout could send bitcoin to $1 million.

SpaceX reported better than expected revenue of $7.8 billion, up 92% year over year, in its first post-IPO earnings Tuesday. But shares fell 6.6% in after-hours trading when investors saw how much the company led by Elon Musk is spending on AI capabilities. While SpaceX's net loss narrowed to $541 million from $1 billion a year ago, AI spending more than doubled to $15.8 billion from $7.7 billion in the first quarter.

SpaceX's connectivity unit, home to its highly profitable Starlink satellite internet service, will poach customers from major wireless operators. President Gwynne Shotwell said the company "definitely intend[s] to build out terrestrial components" to its network, noting that spectrum purchased from EchoStar last year already has some, positioning SpaceX as a potential full-fledged competing carrier against AT&T, Verizon and T-Mobile.

The S&P 500 just closed at its highest level on record, adding a staggering $1.2 trillion in market cap in a single session. This marks the 27th time in history the Dow surged 1,000 points, with twenty-five of those historical moves happening under President Trump.

Many traders are trying to short this relentless rally, but the underlying components of the domestic economy remain exceptionally strong. Treasury Secretary Scott Bessent noted that small business formations are heavily accelerating, proving the current expansion is much broader than a crowded tech trade. The macro trading environment has fundamentally shifted in the last forty-eight hours.

Global macro trading conditions are pivoting sharply risk-on as diplomatic momentum cools geopolitical risk across key channels. Oil prices have settled near $75 per barrel, easing inflation fears and softening Fed policy expectations. U.S. equities remain firmly positive alongside semiconductor stocks, while Bitcoin has reclaimed ground above $64,000 during this market expansion.

Institutional capital is aggressively stepping in to absorb spot Bitcoin supply while retail leverage remains light. On-chain data indicates long-term holders are accumulating at record rates, setting up a supply squeeze as liquidity spills into high-beta altcoins.

Private employment data suggests that the labor market might be tighter than the headline hiring numbers alone suggest, with worker pay accelerating alongside lackluster jobs growth.

Private employers added just 44,000 jobs in July, down from 95,000 in June and the weakest monthly gain since January, according to ADP. But annual pay growth for workers who changed jobs accelerated to 7%, the fastest pace since August 2025, while pay for workers who stayed put held steady at 4.4%.

Construction added just 1,000 jobs in July, but pay for construction workers changing jobs is at a record high, reflecting strong demand from AI-related data center construction and a limited supply of experienced workers. Education and health services led all industries with 36,000 new jobs last month.

The Bank of America Institute said its payroll gauge, based on customer deposit account data, accelerated to 2% year-over-year in July from 1.7% in June, with hiring strongest among lower-income workers. After-tax wage growth for lower-income households accelerated to 5.2% last month, surpassing pay growth of higher-income households for the first time since late 2024.

The sell-off in bonds has made it more expensive to buy a house. The average rate on a 30-year fixed-rate mortgage rose to 6.81% last week, the Mortgage Bankers Association said, the highest in a year. Mortgage applications fell 2.9%.

The surge reflects a spike in global bond yields. Longer-term rates moved higher after Federal Reserve chairman Kevin Warsh offered little guidance as to whether or when the Fed may raise rates to combat elevated inflation. This has particularly cut into refinancing activity, with the Refinance Index falling 1.9%.

Bond yields and mortgage rates have both eased some this week amid a de-escalation of the Iran war. Mortgage News Daily put the 30-year rate at 6.75% yesterday, down from 6.82% at the start of the week.

Galaxy Digital reported an $85M net loss for Q2. Almost all of it came from unrealized losses, meaning paper markdowns on tokens and investments Galaxy still owns and hasn't sold. Crypto prices fell in Q2, so the value of Galaxy's own crypto stack fell with them.

Galaxy took an old Bitcoin mining site in West Texas, spent years converting it into an AI data center campus called Helios, and leased it to CoreWeave for 15 years. In Q2 it started charging rent.

Data center segment results:

• Leasing revenue: $18.9M
• Adjusted gross profit: $20.1M, up from $3.1M in Q1
• Adjusted EBITDA: $11.5M, the segment's first positive quarter ever

All 133 MW of critical IT load under Phase I is now in service. Q2 only captured part of that, because capacity was still being handed over while the quarter ran. Now that everything's live, Galaxy expects Phase I on its own to bill roughly $80M per quarter from Q3, at a project-level adjusted EBITDA margin above 90%.