Monetary Policy

Walmart’s cautious guidance has dampened retail sentiment, contrasting with Wayfair’s sales growth and Etsy’s earnings beat. The Federal Reserve’s meeting minutes revealed differing views on future interest rates. In biotech, the U.S. faces competition from China in early drug development, though Moderna’s mRNA flu shot gained FDA review. Mark Zuckerberg testified in a landmark social media trial, and airlines are increasingly prioritizing credit card loyalty in their frequent flyer programs.

US stocks experienced a volatile day, closing mixed. Initial optimism about potential US-China trade de-escalation faded after Trump threatened action on cooking oil. Powell hinted at a possible end to Fed tightening. Major bank earnings exceeded expectations. Oracle will use AMD’s AI chips, diversifying from Nvidia. Trump is credited for brokering a ceasefire between Israel and Hamas.