Working with people smarter than you is a blessing, not a threat.
Source: Wisdom Stoics @WisdomStoics
Many investors bet Germany’s “whatever it takes” fiscal stimulus package and an enormous uplift in European defence spending would drive a prolonged upturn in the region’s equity markets.
A BofA survey of fund managers showed allocations to Eurozone stocks leapt to their highest level since 2021 at the beginning of this year. But the outperformance was short lived. Strong earnings from the US mega caps have sent Wall Street stocks powering ahead again, despite Trump’s tariff onslaught and deteriorating US economic data. Weak second-quarter earnings in Europe have supported the growing view that the region’s stock rally is losing momentum. With more than half of the companies in the Stoxx Europe 600 having reported earnings, the index is on track for no earnings growth compared with a year ago, according to Bank of America, sapping optimism over a revival in the region’s equity markets. By contrast, the S&P 500 index’s constituents are on track to post 9 per cent year-on-year average earnings growth, according to BofA, powered largely by strong results from Silicon Valley’s tech giants and Wall Street banks. Source: Financial Times, LSEG
The White House announced Wednesday that it is imposing an additional 25% tariff on India, bringing the total levies against the major United States trading partner to 50%.
“I find that the Government of India is currently directly or indirectly importing Russian Federation oil,” President Donald Trump said in an executive order. “Accordingly, and as consistent with applicable law, articles of India imported into the customs territory of the United States shall be subject to an additional ad valorem rate of duty of 25 percent,” the executive order reads.
Apple $AAPL Proof of Life
White House adviser says new $APPL US investment likely to be announced today. Source: Barchart
OpenAI might soon be worth $500bn – thanks to a potential stock sale for employees.
The company is reportedly in early discussions to allow current and former employees to sell their shares, which would value OpenAI at roughly $500bn. Source: HolgerZ, Bloomberg
Government jobs created/eliminated under Biden and Trump.
Probably too early to call it a trend change, but worth being highlighted. Source: Chart Eleva Capital, Bloomberg thru Michel A.Arouet
The chart below shows the number of companies founded in China each year.
Private entrepreneurialism fueling China’s economic rise has come to a full stop there. Time will tell what will be the consequences of a pivot to a state run economy again. Source: Michel A.Arouet, FT
Apple $AAPL increases commitment to $600 billion, announces american manufacturing program.
“Today, we’re proud to increase our investments across the United States to $600 billion over four years and launch our new American Manufacturing Program,” - Tim Cook Source: Evan on X, FT
