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US President Trump: This housing bill has many Democratic-leaning provisions. Unless voter verification is added, I'm more inclined not to sign it.
US President Trump: (Regarding the housing bill) No problem.
When asked about OpenAI shares, US President Trump mentioned Intel (INTC.O) shares (the US government has invested in Intel).
US President Trump: I hold a very small amount of stock in Nvidia (NVDA.O).
US President Trump: The process of "removing" Federal Reserve Governor Cook from the Federal Reserve will begin.
US President Trump: (Regarding the Supreme Court's rejection of the request to fire Federal Reserve Governor Cook) We can get rid of her by winning the case.
According to CNN: The United States plans to strengthen workplace immigration enforcement.
Meta Platforms (META.O) CTO: If the company re-enables mouse tracking, it will be done via an opt-in process.
Meta Platforms (META.O) CTO: Preliminary review of the mouse tracking data security incident indicates that no employee data was included in the AI training.
The Dow Jones Industrial Average rose 594.18 points, or 1.14%, to close at 52,899.42 on Thursday, July 2; the S&P 500 fell 0.49 points, or 0.01%, to close at 7,482.74; and the Nasdaq Composite fell 207.36 points, or 0.80%, to close at 25,832.67.
Meta Platforms (META.O) CTO: The mouse tracking software underwent privacy, legal, and other reviews before its release.
This week, the S&P 500 rose 1.75%, the Nasdaq rose 2.12%, and the Dow Jones Industrial Average rose 1.97%. The Dow Jones Industrial Average rose for the fourth consecutive week, marking its longest winning streak since October 2024.
Tesla (TSLA.O) closed down 7.5%, marking its worst single-day performance in nearly a year.
July 3rd - U.S. stocks closed Thursday with the Dow Jones Industrial Average initially rising 1.1%, setting a new closing high. The S&P 500 dipped slightly, and the Nasdaq Composite fell 0.8%. Micron Technology (MU.O) fell 5.4%, SanDisk (SNDK.O) fell 14%, Intel (INTC.O) fell 5%, and Seagate Technology (STX.O) and Western Digital (WDC.O) fell by less than 10%. Apple (AAPL.O) bucked the trend, rising 4.8%, while Meta (META.O) fell nearly 5%. The Nasdaq China Golden Dragon Index fell 1.77%, with Baidu (BIDU.O) and XPeng Motors (XPEV.N) falling by less than 4%.
Meta Platforms (META.O) CEO: The company expects to see more benefits from its AI investments in the next 3-6 months.
On July 3rd, it was reported that Matt Brill, Head of Investment Grade Credit for North America at Invesco, criticized the secondary market performance of SpaceX's (SPCX.O) initial public offering (IPO) bonds as "very chaotic," calling it "a very disappointing deal" and even describing it as a "red card" (a derogatory term for a poorly received bond). The $25 billion bond attracted nearly $90 billion in orders, but its price weakened rapidly after listing, surprising market traders. Brill pointed out that this could be due to underwriting pricing discrepancies or insufficient participation from long-term funds (such as pension funds and insurance funds). He also warned that investment-grade credit spreads are currently at multi-year lows, and the credit market has "more downside risk than upside potential," thus reducing concentrated allocations to the technology sector. The market believes that this volatility reflects the widening gap between high demand and actual absorption capacity.
The Dow Jones Industrial Average extended its gains to over 1%, while the S&P 500 and Nasdaq Composite narrowed their losses, falling 0.12% and 0.89%, respectively.
Meta Platforms (META.O) CEO: Spending on artificial intelligence has put pressure on the company, and the stock price would have been higher without this expenditure; however, it is a long-term investment.
According to The Information: Palantir (PLTR.N) CEO said that some U.S. government customers have turned to open-source artificial intelligence.
On July 3rd, analyst Adam Button reported that, citing an internal all-hands meeting at Meta Platforms (META.O), CEO Mark Zuckerberg admitted that AI agent development has fallen short of expectations over the past four months. Meta has been under intense scrutiny this week due to recent reports that the company is considering selling excess computing power, leading to market speculation that it may be withdrawing from the basic modeling track. Meta has also recently been impacted by layoffs and job reassignments affecting its corporate culture, and has attempted to soothe employee morale with relatively superficial measures such as providing snacks (to appease) and hosting hackathons (to boost morale). At the meeting, Zuckerberg admitted that the departmental restructuring "could have been done more efficiently"; executives had worried earlier in the year that "AI action wasn't fast enough." However, Zuckerberg is clearly not ready to back down, stating that the best outcome of the restructuring "has not yet been achieved," and still believes that long-term trends align with the restructuring direction. This doesn't sound like a surrender. Following the latest media reports, Meta's stock price initially came under pressure but subsequently rebounded.
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