U.S.-Based Wells Fargo Banker Blocked From Leaving China
Chenyue Mao, a Shanghai-born and Atlanta-based managing director at Wells Fargo, was subjected to an exit ban after she entered China sometime in recent weeks, according to the people. An automated reply from her corporate email account said she was traveling internationally on business.
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These Stocks Are Skyrocketing and Are Still Solid Long-Term Buys
Key Points Nvidia stock is surging following news that it can resume chip sales to China. Microsoft can benefit tremendously from artificial intelligence (AI) integration across its products. 10 stocks we like better than Nvidia › Great businesses pursuing massive growth opportunities will see their share prices continuously hit new highs over the long term. This is why investors shouldn't be afraid to buy quality growth stocks at a new high. What matters is understanding the momentum in the business itself, and how long that growth can last. Some analysts have questioned whether the best days of the "Magnificent Seven" are over, yet Nvidia (NASDAQ: NVDA) and Microsoft (NASDAQ: MSFT) continue to hit new highs following strong earnings results this year. Here's why these high-flying tech stocks are still solid buys for at least the next five years. 1. Nvidia Shares of Nvidia are sitting close to new highs after the company just received welcome news. Following a meeting between CEO Jensen Huang and President Donald Trump, the U.S. government will allow Nvidia to resume sales of its H20 chip in China, unlocking billions in quarterly revenue. That said, Nvidia would have been just fine without revenue from China. Even including the China restrictions, analysts were expecting Nvidia to report $200 billion in revenue this year, for an increase of 53% over fiscal 2025 (ending in January). But resuming sales of the H20 should cause analysts to raise their near-term revenue and earnings estimates, likely sending the stock higher. The H20 is basically a watered-down version of the company's more capable H200 data center chip. Sales to China totaled $17 billion last year, or 13% of Nvidia's revenue. The H20 generated $4.6 billion in revenue in fiscal Q1 before it had to cancel shipments due to new licensing requirements for sales to China. The $2.5 billion of revenue that Nvidia left on the table in fiscal Q1 will likely be realized in fiscal Q3, adding more upside to analysts' current $45 billion revenue estimate for fiscal Q2. Nvidia's China business could grow significantly as a percentage of its total revenue over the next year. During the last earnings call with analysts, Nvidia CFO Colette Kress said the company had planned for $8 billion of H20 orders in fiscal Q2 before the restrictions took effect. This just adds more fuel to the fire for Nvidia's near-term momentum. Strong demand for its Blackwell chip should benefit Nvidia's margins and earnings in the second half of the year. Current analyst estimates call for quarterly adjusted non-GAAP (generally accepted accounting principles) earnings growth to accelerate to 47% year over year in fiscal Q2, before growing 44% in fiscal Q3, and 50% in fiscal Q4. However, these estimates likely exclude additional H20 sales, since this news just broke in the last week. While there is a lot of noise around competition with custom chipmakers, Nvidia can grow at high rates for several years. The investment in artificial intelligence (AI) infrastructure is a gigantic opportunity, large enough for multiple suppliers to do well. Nvidia is already preparing to launch the next-generation Vera Rubin chip next year, which should keep its momentum going. Looking out to fiscal 2030, analysts expect Nvidia's revenue to grow at an annualized rate of 21%, reaching $342 billion. Earnings are expected to grow slightly faster, at 23%. This lines up with Huang's expectation that Nvidia will capture a large portion of the $1 trillion in annual data center spending projected in the next four years. The stock could climb at similar rates as earnings, which makes Nvidia an excellent growth stock to buy and hold for the long term, even at its current price around $170 a share. 2. Microsoft Microsoft reported better-than-expected demand for AI services in its enterprise cloud business last quarter. As a leader in productivity software, Microsoft can benefit tremendously over the long term from AI integration across its products. It's for these reasons that the stock has skyrocketed to new highs since its fiscal Q3 earnings report in late April. Microsoft Azure is the second-leading enterprise cloud provider that continues to gain share of a growing $348 billion market, according to Synergy Research. Azure revenue grew 33% year over year last quarter, but what got investors' attention was that 16 percentage points of Azure's growth was driven by AI services. It seems every industry is embracing this revolutionary technology and doubling down on it. Microsoft sent a strong signal that the ramp in AI investment is just getting started. CEO Satya Nadella noted that the company is expanding its data center capacity, opening 10 new data centers across 10 countries. The company's AI-powered assistant, Microsoft Copilot, has attracted hundreds of thousands of corporate customers, up three times year over year in the last quarter. It is winning bigger deals for Copilot in the enterprise market, and existing customers are returning to buy more seats for their employees. Microsoft is even prepared for the next major advancement in cloud services with its range of software and development tools for quantum computing. The Azure Quantum platform has multiple leaders providing simulators and other tools for customers, including IonQ and Rigetti. Microsoft's AI investments and leadership in software put it in a great position, which is reflected in analysts' growth estimates. Current estimates call for Microsoft to report $279 billion for fiscal 2025 ending in June, and that is expected to grow at an annualized rate of 13% over the next four years. Earnings should grow marginally faster, at a 15% annualized rate. This is enough growth to double the stock by 2029. Do the experts think Nvidia is a buy right now? The Motley Fool's expert analyst team, drawing on years of investing experience and deep analysis of thousands of stocks, leverages our proprietary Moneyball AI investing database to uncover top opportunities. They've just revealed their to buy now — did Nvidia make the list? When our Stock Advisor analyst team has a stock recommendation, it can pay to listen. After all, Stock Advisor's total average return is up 1,048% vs. just 180% for the S&P — that is beating the market by 867.59%!* Imagine if you were a Stock Advisor member when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $652,133!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,056,790!* The 10 stocks that made the cut could produce monster returns in the coming years. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 15, 2025 John Ballard has positions in Nvidia. The Motley Fool has positions in and recommends Microsoft and Nvidia. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy. These Stocks Are Skyrocketing and Are Still Solid Long-Term Buys was originally published by The Motley Fool
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Commerce Secretary Lutnick says he is confident US will secure trade deal with EU
WASHINGTON (Reuters) -U.S. Commerce Secretary Howard Lutnick said on Sunday he was confident the United States can secure a trade deal with the European Union, but August 1 is a hard deadline for tariffs to kick in. Lutnick said he had just gotten off the phone with European trade negotiators and there was "plenty of room" for agreement. "These are the two biggest trading partners in the world, talking to each other. We'll get a deal done. I am confident we'll get a deal done," Lutnick said in an interview with CBS' "Face the Nation." U.S. President Donald Trump threatened on July 12 to impose a 30% tariff on imports from Mexico and the European Union starting on August 1, after weeks of negotiations with the major U.S. trading partners failed to reach a comprehensive trade deal. Lutnick said that was a hard deadline. "Nothing stops countries from talking to us after August 1, but they're going to start paying the tariffs on August 1," he said on CBS. Trump announced the tariffs in a letter to European Commission President Ursula von der Leyen. He sent letters to other trading partners including Mexico, Canada, Japan and Brazil, setting blanket tariff rates ranging from 20% to 50%, as well as a 50% tariff on copper. Lutnick also said he expected Trump to renegotiate the United States-Mexico-Canada Agreement (USMCA) signed during Trump's first White House term in 2017-21. Barring any major changes, USMCA-compliant goods from Mexico and Canada are exempt from tariffs. "I think the president is absolutely going to renegotiate USMCA, but that's a year from today," Lutnick said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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EU to Prepare Retaliation Plan as US Trade Stance Hardens
(Bloomberg) -- European Union envoys are set to meet as early as this week to formulate a plan for measures to respond to a possible no-deal scenario with US President Donald Trump, whose tariff negotiating position is seen to have stiffened ahead of an Aug. 1 deadline. Why the Federal Reserve's Building Renovation Costs $2.5 Billion Milan Corruption Probe Casts Shadow Over Property Boom Mumbai Facelift Is Inspired by 200-Year-Old New York Blueprint How San Jose's Mayor Is Working to Build an AI Capital Manhattan, Chicago Murder Rates Drop in 2025, Officials Say The overwhelming preference is to keep negotiations with Washington on track in a bid for an outcome to the impasse ahead of next month's deadline. Still, efforts have yet to yield sustained progress following talks in Washington last week, according to people familiar with the matter. Negotiations will continue over the next two weeks. The US is now seen to want a near-universal tariff on EU goods higher than 10%, with increasingly fewer exemptions limited to aviation, some medical devices and generic medicines, several spirits, and a specific set of manufacturing equipment that the US needs, said the people, who spoke on condition of anonymity to discuss private deliberations. A spokesperson for the European Commission, which handles trade matters for the bloc, said they had no comment to make on the ongoing negotiations. The two sides have also discussed a potential ceiling for some sectors, as well as quotas for steel and aluminum and a way to ring-fence supply chains from sources that oversupply the metals, the people said. The people cautioned that even if an agreement were reached it would need Trump's sign off – and his position isn't clear. 'I am confident we'll get a deal done,' US Commerce Secretary Howard Lutnick said on CBS's Face the Nation on Sunday. 'I think all these key countries will figure out it is better to open their markets to the United States of America than to pay a significant tariff.' Lutnick added that he had spoken to European trade negotiators early Sunday. Trump's Letter The US president wrote to the EU earlier in the month, warning that the bloc would face a 30% tariff on most of its exports from Aug. 1. Alongside a universal levy, Trump has hit cars and auto parts with a 25% levy, and steel and aluminum with double that. He's also threatened to target pharmaceuticals and semiconductors with new duties as early as next month, and recently announced a 50% levy on copper. In all, the EU estimates that US duties already cover €380 billion ($442 billion), or about 70%, of its exports to the US. Before Trump's letter, the EU had been hopeful it was edging toward an initial framework that would allow detailed discussions to continue on the basis of a universal rate of 10% on many of the bloc's exports. The EU has been seeking wider exemptions than the US is offering, as well as looking to shield the bloc from future sectoral tariffs. While it's long accepted that any agreement would be asymmetrical in favor of the US, the EU will assess the overall imbalance of any deal before deciding whether to pull the trigger on any re-balancing measures, Bloomberg previously reported. The level of pain that member states are prepared to accept varies, and some are open to higher tariff rates if enough exemptions are secured, the people said. Any agreement would also address non-tariff barriers, cooperation on economic security matters, digital trade consultations, and strategic purchases. Move Quickly With the prospects of a positive outcome dimming and the deadline looming, the EU is expected to start preparing a plan to move quickly if it can't reach a deal, said the people. Any decision to retaliate would likely need political sign-off from the bloc's leaders because the stakes are so high, the people added. Countermeasures of any substance would likely provoke an even wider transatlantic trade rift, given Trump's warnings that retaliation against American interests will only invite tougher tactics from his administration. The bloc has already approved potential tariffs on €21 billion of US goods that could be quickly implemented in response to Trump's metals levies. They target politically-sensitive American states and include products such as soybeans from Louisiana, home to House Speaker Mike Johnson, other agricultural products, poultry, and motorcycles. The EU has also prepared a list of tariffs on an additional €72 billion of American products in response to Trump's so-called reciprocal levies and automotive duties. They would target industrial goods, including Boeing Co. aircraft, US-made cars, and bourbon whiskey. It's also working on potential measures that go beyond tariffs, such as export controls and restrictions on public procurement contracts. Anti-Coercion Tool Bloomberg reported last week that a growing number of EU member states want the bloc to activate its most powerful trade tool, the so-called anti-coercion instrument (ACI), against the US should the two sides fail to reach an acceptable agreement and Trump carries through with his tariff threats. The ACI would give officials broad powers to take retaliatory action. Those measures could include new taxes on US tech giants, or targeted curbs on US investments in the EU. They could also involve limiting access to certain parts of the EU market or restricting US firms from bidding for public contracts in Europe. The anti-coercion tool was designed primarily as a deterrent, and if needed, a way to respond to deliberate coercive actions from third countries that use trade measures as a means to pressure the sovereign policy choices of the 27-nation bloc or individual member states. The commission can propose the use of the ACI, but it's up to member states to determine whether there's a coercion case and if it should be deployed. Throughout the process, the EU would seek to consult with the coercing party to find a resolution. Member states were briefed on the status of trade talks with the US on Friday. --With assistance from Nathan Risser. (Updates with Lutnick comment beginning in seventh paragraph.) 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