Political Scrutiny

Market futures show a slight uptick. July’s CPI data indicates cooling inflation, potentially easing Federal Reserve pressure for rate hikes. The chip sector saw mixed results: Cerebras revenue fell short, while Cisco surpassed estimates. Truth Social’s API faces a lawsuit over its functionality. Democratic lawmakers are seeking transparency on Donald Trump’s investment managers. The Los Angeles Lakers have been sold for $12.5 billion. Geopolitical tensions are impacting shipping traffic in the Strait of Hormuz.

TikTok’s U.S. operations face glitches and censorship claims amidst political scrutiny. A data center power outage caused widespread technical issues, while users report suppressed political content, including messages mentioning “Epstein.” California’s governor is investigating alleged anti-Trump content suppression. These events unfold as TikTok’s U.S. business operates under a new majority American-owned joint venture, an overhaul aimed at addressing national security concerns from its Chinese parent company.