- PBOC to Step Up Support for Economy, Shifts Focus to Consumption (bloomberg)
- BofA’s Hartnett Says Sell Stocks at the Fed’s First Rate Cut (bloomberg)
- Automobile sales in the U.S. rebound after crippling cyberattack (marketwatch)
- US job growth misses expectations in July; unemployment rate rises to 4.3% (reuters)
- The July jobs report is likely to raise concerns that the Fed has waited too long to begin cutting rates. (nytimes)
- Nvidia being probed by Justice Department, two separate reports say (marketwatch)
- Japanese Stocks Suffer Biggest Fall Since 2020 on Economic Concerns (wsj)
- Japanese stocks fell 6 percent as a long-running surge faltered. (nytimes)
- Temu’s office besieged by Chinese suppliers protesting refund policy (businessinsider)
- “Intel’s second-quarter earnings report on Thursday wasn’t all bad. CEO Pat Gelsinger continued to reiterate that the company’s ambitious plan for “5 nodes in 4 years” to enable its foundry business (for both internal and external customers) to catch up to Taiwan Semiconductor Manufacturing is still on track and executing as planned. Intel has shipped more than 15 million of its first “AI PC” chips, codenamed Meteor Lake, and is confident it will have 40 million units shipped by the end of 2024. That’s a huge milestone and dwarfs what AMD or Qualcomm could hope to do in the same time frame.” (marketwatch)
- Cooper Standard Second Quarter Gross Profit Ramps Higher; Further Margin Expansion Expected in Second Half of the Year (cps)
- Here’s the dividend-paying stock playbook for Fed rate cuts (marketwatch)
- Intel to Cut Jobs and Suspend Dividend in Cost-Saving Push (wsj)
- Why the Fed Risks Falling Behind (wsj)
- Recession Triggered: Payrolls Miss Huge, Up Just 114K As Soaring Unemployment Rate Activates “Sahm Rule” Recession (zerohedge)
- NDRC Reiterates Ministry of Finance Policy Support (chinalaastnight)
- GM Chief Financial Officer Paul Jacobson Buys the Stock Dip (barrons)
Be in the know. 17 key reads for Friday…
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