| Our PureVest Weekly Roundup reviewed a recap of this week’s Fed meeting. Powell held rates steady but set the stage for a possible September cut; interest rates fell to a nine-month low. Mortgage rates are now well below 7%. Big tech earnings were in focus this week. We looked at what some of the biggest companies had to say; reports came in mixed. Apple’s sales rose 5%, Amazon disappointed, and Meta had a solid report. AMD said sales of their AI chips more than doubled in the past year. Overall, these reports confirmed the continued demand and investments in the AI space. Enjoy the light reading, and have a great weekend! |
| Markets & Economy: Fed recap: Chair Powell gives September rate cut signal traders were hoping for source:www.cnbc.com Mortgage Rates Drop Again to Lowest Level in Six Months source:www.investopedia.com Job growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3% source:www.cnbc.com Apple sales rise 5%, topping estimates source:www.cnbc.com Amazon stock tumbles 11% as profit, revenue outlook disappoints source:www.yahoofinance.com Meta shares pop on revenue and earnings beat, better-than-expected forecast source:www.cnbc.com AMD says data center sales more than doubled in a year source:www.nbcchicago.com |