Trump is LIVID after Powell doesn't lower rates

Trump: "Too late, Too angry, Too political"

Hello Capitalists,

Powell defied Trump’s repeated calls for lower rates and Trump’s response is savage. Microsoft, Meta and Robinhood’s earnings calls generated an absolutely huge AI rally! Tres. Sec Bessent is optimistic on the China trade deal as the August 1st tariff deadline looms.

Here’s everything you need to be following today:

• DOW: 44467.30 - (⬆️0.01) ✅

• S&P: 6398.81 - (⬆️0.16) ✅

• NASDAQ: 21343.64 - (⬆️1.01) ✅

• CBOE VIX Volatility Index: $15.55 (⬆️0.07) ⚠️⬆️

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Trump goes scorched earth on Powell after he is defied again on interest rates

President Donald Trump sharply criticized Federal Reserve Chairman Jerome Powell, labeling him a "total loser" on social media Wednesday after the Fed opted to keep interest rates unchanged at 4.25% to 4.5%, defying the president's calls for cuts to stimulate the economy.

• Federal Reserve's Decision: The Federal Reserve announced it would keep its benchmark federal funds rate steady, citing uncertainty about inflation and economic conditions, following three consecutive rate cuts in late 2024.

• Trump's Economic Strategy: Trump claimed he could curb inflation by boosting American energy production, cutting regulations, rebalancing trade, and revitalizing manufacturing, while criticizing the Fed's handling of bank regulation and inflation.

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Meta, Microsoft and Robinhood lead a MASSIVE rally with stellar earnings

Microsoft and Meta Platforms propelled a $500 billion surge in AI-related stocks after reporting strong quarterly earnings, with Microsoft’s Azure cloud revenue topping $75 billion and Meta’s robust ad growth fueling optimism in the artificial intelligence sector.

• Microsoft’s Strong Performance: Microsoft shares jumped 7% after reporting fiscal fourth-quarter earnings of $3.65 per share and $76.44 billion in revenue, surpassing expectations, driven by Azure cloud revenue exceeding $75 billion, up 34% year-over-year.

• Meta’s Earnings Beat: Meta’s stock rose 9% after second-quarter earnings beat forecasts with $7.14 per share and $47.52 billion in revenue, boosted by AI-driven ad improvements and a third-quarter sales outlook of $47.5 billion to $50.5 billion.

• AI Investment Surge: Both companies increased AI infrastructure spending, with Microsoft projecting over $30 billion in fiscal first-quarter capital expenditures and Meta raising its 2025 capex range to $66 billion-$72 billion, reflecting heavy AI focus.

• Market Impact: The earnings reports lifted AI and cloud-computing stocks, adding $500 billion in combined market value, with Microsoft’s market cap hitting $4.1 trillion and Nvidia gaining 2% due to Meta’s AI spending plans.

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Bessent optimistic on China deal after “tough” meeting in Stockholm

Treasury Secretary Scott Bessent expressed optimism Thursday about nearing a trade agreement with China, stating on CNBC's "Squawk Box" that the U.S. and China "have the makings of a deal" as a critical tariff deadline looms, though he noted some technical details remain unresolved.

• Treasury Secretary Scott Bessent voiced confidence in reaching a trade pact with China during a CNBC "Squawk Box" interview, citing progress in negotiations as a key tariff deadline approaches.

• Bessent described the talks, held over two days in Stockholm, as "tough" but productive, though he has not yet discussed the deal with President Donald Trump, who must personally approve any agreement.

• While specific details of the potential deal were not disclosed, Bessent emphasized that technical issues on the Chinese side still need resolution, and the agreement is not yet finalized.

• The negotiations follow a truce on tariffs between the U.S. and China, which had previously imposed aggressive duties on each other, with Bessent noting the Chinese are tough negotiators but the U.S. is equally resolute.

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As August 1st tariff deadline looms, this is the current state of play

President Donald Trump’s Aug. 1 deadline for imposing higher tariffs on dozens of countries looms.

• Impending Tariff Deadline: President Trump’s Aug. 1 deadline will reinstate higher "reciprocal" tariffs, with a global baseline rate of 15%-20%, up from the 10% set on April 2, affecting countries without trade deals.

• Limited Trade Agreements: The U.S. has secured eight trade deals in 120 days, including with the 27-member European Union (15% tariff) and Indonesia (19% tariff), while key partners like Canada (35% tariff), Mexico (30% tariff), and India (25% tariff plus penalty) remain without agreements.

• Economic Uncertainty: The looming tariffs threaten higher consumer prices and market instability, with countries like Australia facing a baseline 10% tariff (potentially rising) and Mexico warned of steeper rates if it retaliates.

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Hard Seltzer company accidentally fills up energy drinks with alcohol, issues recall

High Noon has issued a voluntary recall of its Beach Variety Pack 12-packs in eight states after a supplier error caused some cans filled with vodka seltzer to be mislabeled as non-alcoholic Celsius Astro Vibe Energy Drinks, posing a risk of unintentional alcohol consumption, the U.S. Food and Drug Administration announced Wednesday.

• High Noon is recalling two production lots of its Beach Variety Pack 12-packs due to a labeling error where cans filled with vodka seltzer were mistakenly labeled as Celsius Astro Vibe Energy Drink, Sparkling Blue Razz Edition.

• The affected products were shipped to retailers in Florida, Michigan, New York, Ohio, Oklahoma, South Carolina, Virginia, and Wisconsin between July 21 and July 23, 2025.

• Consumers are advised to check lot codes on High Noon Beach Variety Packs (UPC 085000040065, lot codes L CCC 17JL25 14:00 to L CCC 17JL25 23:59 and L CCC 18JL25 00:00 to L CCC 18JL25 03:00) and Celsius cans (UPC 8 89392 00134 1, lot codes L CCB 02JL25 2:55 to L CCB 02JL25 3:11) and dispose of affected products.

• No illnesses or adverse events have been reported, and consumers can contact High Noon at consumerrelations@highnoonvodka.com for refund information.

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Virginia councilman is set on fire after man storms his office

A Virginia city councilman was hospitalized with severe burns Wednesday after a man forced his way into his workplace, doused him with gasoline and set him on fire, police said, describing the attack as stemming from a personal dispute.

• Danville City Council member Lee Vogler, 39, was attacked at his workplace, Showcase Magazine, around 11 a.m. Wednesday when Shotsie Michael Buck Hayes, 29, allegedly poured gasoline on him and set him ablaze.

• Vogler, who sustained serious burn injuries, was airlifted to a regional burn center for treatment, with his condition currently unknown.

• Hayes, identified as the suspect, was arrested nearby and charged with attempted first-degree murder and aggravated malicious wounding, with police stating the attack was due to a personal matter, not Vogler’s council position.

• Virginia officials, including Gov. Glenn Youngkin and Sen. Tammy Mulchi, condemned the violence, expressing support for Vogler’s recovery and the Danville community.

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