Starmer to Meet Trump to Discuss Trade Deal and Gaza Ceasefire
Starmer will travel to Trump Turnberry, the president's golf course where he played at the weekend and thrashed out a trade deal with the European Union on Sunday. The two leaders will then travel on together for a further private engagement in Aberdeen.
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3 minutes ago
- Yahoo
Police chief hits back after accusations of ‘cover-up' regarding rape suspects
Police have denied a 'cover up' after a Reform UK councillor accused the force of withholding information following the alleged rape of a 12-year-old girl. Warwickshire Police's chief constable, Alex Franklin-Smith, has asked the Home Office to confirm the full immigration status of Ahmad Mulakhil and Mohammad Kabir, who have been charged in connection with the offence. It comes after Reform UK's leader Nigel Farage and Warwickshire County Council leader George Finch claimed there had been a 'cover up' after police charged the two men, who are Afghan asylum seekers. In a letter to the Home Secretary and Warwickshire Police's chief constable, Mr Finch, the youngest council leader in the country, claimed that not publicising the pair's immigration status 'risks public disorder breaking out on the streets of Warwickshire'. Responding to Mr Finch, Mr Franklin-Smith wrote that the force 'did not and will not' cover up alleged criminality. 'I am confident that Warwickshire Police has treated this investigation seriously from the outset working tirelessly to identify, locate, arrest and charge those suspected of being responsible for this awful crime as quickly as possible.' Of the suspects, he wrote: 'The immigration status of Ahmad Mulakhil and Mohammad Kabir is now public knowledge, having been placed into the public domain by yourself. 'In light of that, I have asked the Home Office to confirm the full immigration status of Ahmad Mulakhil and Mohammad Kabir as per the information we shared with the Crown Prosecution Service and the courts as part of this case.' Of a conversation he and Mr Finch had on July 31, Mr Franklin-Smith wrote: 'You informed me you had already received a confidential briefing from your chief executive and that you knew the person charged was an asylum seeker. 'I confirmed this was accurate and we wouldn't be releasing immigration status at point of charge as we follow national guidance. 'I explained the information would become public knowledge as part of the court process and that all partners must ensure we are prepared to manage any potential protest and/or disorder at that stage. 'I explained we had a police gold commander leading the overall response to this case and that the communications plan agreed by them followed consultation with the Crown Prosecution Service. 'I also explained we had briefed the Home Office. 'To be clear, I cannot tell elected individuals what to do.' Following the reported attack in Nuneaton, Mulakhil, 23, was arrested on July 26 and charged the next day with rape, according to police. Mulakhil appeared at Coventry Magistrates' Court last Monday and has been remanded in custody. Kabir, 23, was arrested in Nuneaton on Thursday and charged with kidnap, strangulation and aiding and abetting rape of a girl under 13, the force added. Kabir appeared at Coventry Magistrates' Court on Saturday and has been remanded in custody. The issue of how much information is revealed by police regarding suspects has been the subject of fierce debate following a string of high-profile cases including the Southport killings last year. On Tuesday, Home Secretary Yvette Cooper said 'we do think more transparency is needed' in the information given by police and that 'guidance needs to change'. In a statement released on Tuesday evening, a Home Office spokesperson said: 'As the Home Secretary said this morning, it has been widely reported that this case involves two Afghan individuals who are in the asylum system, some of which information has already been confirmed in open court. 'The Home Secretary has made clear that there is a strong public interest in maximum transparency wherever that is possible. 'That is why the Home Office and College of Policing are working together to strengthen and clarify the guidance around how and when information is released.' Warwickshire Police previously said they do not believe anyone else was involved in the reported rape but are continuing to appeal for witnesses who may have information that could assist inquiries.
Yahoo
3 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq fall as Wall Street digests earnings, Trump tariffs
US stocks retreated on Tuesday as investors digested the latest wave of corporate earnings, economic data, and various tariff updates. The benchmark S&P 500 (^GSPC) slid 0.5%, while the blue-chip Dow Jones Industrial Average (^DJI) fell a more modest 0.1%. The Nasdaq Composite (^IXIC) was down nearly 0.7%. Palantir (PLTR) stock jumped roughly 7% after the company's earnings report beat expectations and revealed its revenue had topped $1 billion in a quarter for the first time. On Monday, stocks sharply rebounded after tanking on Friday in the aftermath of a number of market-shaking events, including a weak jobs report, fresh tariffs, new signs of rising prices, and President Trump's firing of the commissioner of the Bureau of Labor Statistics. Economic data released Tuesday morning showed the services sector unexpectedly flatlined in July. The Institute for Supply Management's (ISM) services PMI registered a reading of 50.1 in July, down from June's reading of 50.8, and below the 51.5 economists surveyed by Bloomberg. Meanwhile, Trump continued to amp up pressure on trade after this week after threatening to hike tariffs on India. In an interview with CNBC on Tuesday morning, President Trump said pharmaceutical imports could see tariffs of up to 250%. He also ruled out Treasury Secretary Scott Bessent as a potential incoming Fed chair, but noted that Jerome Powell's successor could be named "soon." Read more: The latest on Trump's tariffs Wall Street is now focused on the continuation of earnings season. On Tuesday, AMD (AMD) and Rivian (RIVN) are set to report their results. McDonald's (MCD) and Disney (DIS) earnings land Wednesday. Palantir is now one of the biggest stocks in the market Palantir (PLTR) stock rose more than 7% on Tuesday after notching a billion dollars in quarterly revenue for the first time. The stock is now up more than 610% over the past year and is quickly becoming one of the largest stocks in the S&P 500 (^GSPC). Since joining the S&P 500 in September 2024, Palantir has added about $321 billion to its market cap and is now a top-25 largest holding in the S&P 500. That makes Palantir larger than the likes of Bank of America (BAC), Chevron (CVX), and Coca-Cola (KO). Rivian Q2 earnings preview: EV tax credit impact, R2 SUV update on the agenda Yahoo Finance's Pras Subramanian reports: Rivian (RIVN) will report second quarter earnings after the bell on Tuesday. The pure-play EV maker is building the case toward eventual profitability while navigating the minefields of President Trump's auto sector tariffs and removal of EV tax credits. For the quarter, Rivian is expected to report revenue of $1.28 billion, per Bloomberg consensus estimates, higher than the $1.158 billion reported a year ago. The company is expected to post an adjusted EPS loss of $0.63, with an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss of $493 million. Last quarter, the company reported its second consecutive quarter of gross profit, hitting $206 million. Despite this, issues like trade policy and tariffs meant Rivian maintained its 2025 full-year adjusted EBITDA loss projection in a range of $1.7 billion to $1.9 billion. Tariffs on auto parts currently stand at 25%, though USMCA-compliant parts are exempt. The Federal Reserve rate cut debate is shifting Following Friday's weaker-than-expected July jobs report, the consensus debate surrounding Federal Reserve interest rate cuts is no longer whether the central bank will slash rates this year. Instead, it's all about how aggressive the cuts will be. "I think a 25 basis points cut is a lock," Queens' College, Cambridge president Mohamed El-Erian told Yahoo Finance. "A 50 basis point cut is a possibility, not yet a probability. It's a possibility." The economic team at Goldman Sachs agrees. In a Monday research note titled "on course for cuts," Goldman Sachs chief economist Jan Hatzius projected the Fed will proceed with three 25 basis point interest rate cuts throughout its final three meetings of 2025. But Hatzius added that should the unemployment rate move higher from 4.2% in the August jobs report, a 50 basis point interest rate cut in September is "possible." For their part, markets are split on how far the Fed will bring down interest rates this year. As of Tuesday afternoon, investors are pricing in a 46% chance the Fed cuts rates by 75 basis points in 2025 and a 43% chance rates are lowered by 50 basis points by the end of the year, per the CME FedWatch Tool. This will put upcoming monthly labor reports and weekly reports on unemployment claim filings, released on Thursdays, in particular focus for investors between now and the Sept. 17 monetary policy decision. Monday's winners are Tuesday's losers in the market On a sector basis, Technology (XLK), Communication Services (XLC), and Utilities (XLU) were the clear winners during Monday's trade, each outperforming the S&P 500's 1.5% gain. On Tuesday, that action reversed. All three sectors were among the worst performers within the benchmark index. AI is the clear risk to the upside for the stock market in 2025 Another Wall Street strategist has boosted their year-end S&P 500 target. In a note to clients on Tuesday, HSBC head of equity strategy for the Americas Nicole Inui boosted her year-end S&P 500 target to 6,400 from 5,600. Inui also detailed a bull-case scenario in which an "AI fueled rally" brings the benchmark index to 7,000 by year-end and a bear-case scenario in which tariff impacts drag the S&P 500 down to 5,700. "We have more confidence in the sustainability of the AI trade than further easing on policy uncertainty," Inui wrote. In other words, the risks are more heavily weighted to the bull case outcome. This reveals a key takeaway from how Wall Street is talking about the potential path higher for an S&P 500 that's already near record highs. The bull case for stocks isn't backed by a call for US economic growth to suddenly inflect higher or interest rate cuts from the Federal Reserve to suddenly spark a broad market rally. As we wrote in Tuesday's Yahoo Finance Morning Brief newsletter, the bull case in stocks is still being driven by AI investment and its ability to push corporate profits higher. "For our bull case scenario to play out, tariff costs would shift mostly to the supplier having a negligible impact on US corporate profits," Inui wrote. "At the same time, AI adoption accelerates and starts to have a real impact on profitability through efficiency gains." Countries push for last-minute deals as Thursday tariff deadline looms Yahoo Finance's Ben Wersckul reports: Read more here. Hims & Hers stock slides 6% after second quarter revenue misses forecasts Yahoo Finance's Jake Conley reports: Read more here. PMI data points to 'encouragingly robust' economic activity to start the third quarter Activity in the services continued to expand during the month of July, according to two data releases on Tuesday morning. The Institute for Supply Management's (ISM) services PMI registered a reading of 50.1 in July, down from June's reading of 50.8, and below the 51.5 economists surveyed by Bloomberg had expected. Readings above 50 for this index indicate an expansion in activity, while readings below 50 indicate contraction. The manufacturing sector has been in contraction for most of the past two years. "July's PMI level continues to reflect slow growth, and survey respondents indicated that seasonal and weather factors had negative impacts on business," Steve Miller, the chair of the Institute for Supply Management Services Business Survey committee, said in the release. "The most common topic among survey panelists remained tariff-related impacts, with a noticeable increase in commodities listed as up in price." Elsewhere on Tuesday, S&P Global's composite PMI, which combines both activity in the services and manufacturing sectors, registered a reading of 55.1 in July, up from 52.9 the month prior. S&P Global chief business economist Chris Williamson said the data signals "encouragingly robust economic growth at the start of the third quarter." Williamson added that the July PMI data points to the US economy growing at a 2.5% annualized pace in the third quarter, above the 1.25% pace seen in the first half. Trump rules out Bessent as next Fed chair, says may name Powell replacement soon Yahoo Finance's Jennifer Schonberger and Myles Udland report: Read more here. Trending tickers in premarket trading: Pfizer, Palantir, Caterpillar Companies reporting earnings topped Yahoo Finance's trending tickers list on Tuesday. Here's a look at how they're trading 30 minutes before the opening bell: Read more live coverage of corporate earnings here. Palantir stock surges on Q2 beat and raise Palantir (PLTR) stock climbed 7% higher in premarket trading on Tuesday following the AI software company's blowout second quarter earnings report on Monday afternoon. Palantir's revenue topped $1 billion in a quarter for the first time as the company dodged government contract spending cuts and reported beat-and-raise results. Year to date, Palantir stock is up 112%. Yahoo Finance's Jake Conley reports: Read more here. Wall Street 2025 bonuses: Winners and losers so far Yahoo Finance's David Hollerith reports: Read more here. Good morning. Here's what's happening today. Economic data: S&P Global US Services PMI (July final) S&P Global US Composite, (July final); ISM services index (July) Earnings: AMD (AMD), BP (BP), Caterpillar (CAT), Duke Energy (DUK), Lucid Group (LCID), Opendoor (OPEN), Pfizer (PFE), Rivian (RIVN), Super Micro Computer (SMCI), Snap (SNAP), Upstart (UPST) Here are some of the biggest stories you may have missed overnight and early this morning: One key reason a slowing economy isn't shaking stock market bulls Wall Street 2025 bonuses: Winners and losers so far Big Tech is power-hungry, and America's aging grid can't keep up Pfizer beats in Q2 earnings, reaffirms 2025 outlook Trump's Fed pick could face resistance from colleagues on rates Intel struggles with key manufacturing process for next chip EU says it expects turbulence in trade relations with US Jefferies sees crowded trade in Big Tech as Fed nears rate cuts US rig decline outpaces efficiency, threatening oil output Autopilot verdict deals Tesla a 'black eye' Pfizer stock rises after beating Q2 earnings, reaffirming 2025 outlook Pfizer (PFE) stock rose 2% in premarket trading Tuesday after beating quarterly estimates on the top and bottom lines. The company posted earnings per share of $0.78, versus estimates of $0.58 per share, on revenue of $14.7 billion, compared to Wall Street expectations of $13.5 billion. Yahoo Finance's Anjalee Khemlani reports: Read more here. One key reason a slowing economy isn't shaking stock market bulls Yahoo finance's senior reporter Josh Schafer looks at why softening economic data may not be as important for stocks as AI: Read more here. Nvidia partner Hon Hai's July sales growth weakened by tariffs Nvidia's (NVDA) main server assembly partner Hon Hai Precision ( saw its Taiwan stock close 2% higher on Tuesday despite reporting a sales slowdown for July. Bloomberg News reports: Read more here. Oil flattened from multi-day drop after Trump's India rebuke Oil prices steadied from a three-day decline following a ramping up of threats from Trump to India over the Asian nation's continued use of Russian crude. Bloomberg reports: Read more here. Palantir is now one of the biggest stocks in the market Palantir (PLTR) stock rose more than 7% on Tuesday after notching a billion dollars in quarterly revenue for the first time. The stock is now up more than 610% over the past year and is quickly becoming one of the largest stocks in the S&P 500 (^GSPC). Since joining the S&P 500 in September 2024, Palantir has added about $321 billion to its market cap and is now a top-25 largest holding in the S&P 500. That makes Palantir larger than the likes of Bank of America (BAC), Chevron (CVX), and Coca-Cola (KO). Palantir (PLTR) stock rose more than 7% on Tuesday after notching a billion dollars in quarterly revenue for the first time. The stock is now up more than 610% over the past year and is quickly becoming one of the largest stocks in the S&P 500 (^GSPC). Since joining the S&P 500 in September 2024, Palantir has added about $321 billion to its market cap and is now a top-25 largest holding in the S&P 500. That makes Palantir larger than the likes of Bank of America (BAC), Chevron (CVX), and Coca-Cola (KO). Rivian Q2 earnings preview: EV tax credit impact, R2 SUV update on the agenda Yahoo Finance's Pras Subramanian reports: Rivian (RIVN) will report second quarter earnings after the bell on Tuesday. The pure-play EV maker is building the case toward eventual profitability while navigating the minefields of President Trump's auto sector tariffs and removal of EV tax credits. For the quarter, Rivian is expected to report revenue of $1.28 billion, per Bloomberg consensus estimates, higher than the $1.158 billion reported a year ago. The company is expected to post an adjusted EPS loss of $0.63, with an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss of $493 million. Last quarter, the company reported its second consecutive quarter of gross profit, hitting $206 million. Despite this, issues like trade policy and tariffs meant Rivian maintained its 2025 full-year adjusted EBITDA loss projection in a range of $1.7 billion to $1.9 billion. Tariffs on auto parts currently stand at 25%, though USMCA-compliant parts are exempt. Yahoo Finance's Pras Subramanian reports: Rivian (RIVN) will report second quarter earnings after the bell on Tuesday. The pure-play EV maker is building the case toward eventual profitability while navigating the minefields of President Trump's auto sector tariffs and removal of EV tax credits. For the quarter, Rivian is expected to report revenue of $1.28 billion, per Bloomberg consensus estimates, higher than the $1.158 billion reported a year ago. The company is expected to post an adjusted EPS loss of $0.63, with an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss of $493 million. Last quarter, the company reported its second consecutive quarter of gross profit, hitting $206 million. Despite this, issues like trade policy and tariffs meant Rivian maintained its 2025 full-year adjusted EBITDA loss projection in a range of $1.7 billion to $1.9 billion. Tariffs on auto parts currently stand at 25%, though USMCA-compliant parts are exempt. The Federal Reserve rate cut debate is shifting Following Friday's weaker-than-expected July jobs report, the consensus debate surrounding Federal Reserve interest rate cuts is no longer whether the central bank will slash rates this year. Instead, it's all about how aggressive the cuts will be. "I think a 25 basis points cut is a lock," Queens' College, Cambridge president Mohamed El-Erian told Yahoo Finance. "A 50 basis point cut is a possibility, not yet a probability. It's a possibility." The economic team at Goldman Sachs agrees. In a Monday research note titled "on course for cuts," Goldman Sachs chief economist Jan Hatzius projected the Fed will proceed with three 25 basis point interest rate cuts throughout its final three meetings of 2025. But Hatzius added that should the unemployment rate move higher from 4.2% in the August jobs report, a 50 basis point interest rate cut in September is "possible." For their part, markets are split on how far the Fed will bring down interest rates this year. As of Tuesday afternoon, investors are pricing in a 46% chance the Fed cuts rates by 75 basis points in 2025 and a 43% chance rates are lowered by 50 basis points by the end of the year, per the CME FedWatch Tool. This will put upcoming monthly labor reports and weekly reports on unemployment claim filings, released on Thursdays, in particular focus for investors between now and the Sept. 17 monetary policy decision. Following Friday's weaker-than-expected July jobs report, the consensus debate surrounding Federal Reserve interest rate cuts is no longer whether the central bank will slash rates this year. Instead, it's all about how aggressive the cuts will be. "I think a 25 basis points cut is a lock," Queens' College, Cambridge president Mohamed El-Erian told Yahoo Finance. "A 50 basis point cut is a possibility, not yet a probability. It's a possibility." The economic team at Goldman Sachs agrees. In a Monday research note titled "on course for cuts," Goldman Sachs chief economist Jan Hatzius projected the Fed will proceed with three 25 basis point interest rate cuts throughout its final three meetings of 2025. But Hatzius added that should the unemployment rate move higher from 4.2% in the August jobs report, a 50 basis point interest rate cut in September is "possible." For their part, markets are split on how far the Fed will bring down interest rates this year. As of Tuesday afternoon, investors are pricing in a 46% chance the Fed cuts rates by 75 basis points in 2025 and a 43% chance rates are lowered by 50 basis points by the end of the year, per the CME FedWatch Tool. This will put upcoming monthly labor reports and weekly reports on unemployment claim filings, released on Thursdays, in particular focus for investors between now and the Sept. 17 monetary policy decision. Monday's winners are Tuesday's losers in the market On a sector basis, Technology (XLK), Communication Services (XLC), and Utilities (XLU) were the clear winners during Monday's trade, each outperforming the S&P 500's 1.5% gain. On Tuesday, that action reversed. All three sectors were among the worst performers within the benchmark index. On a sector basis, Technology (XLK), Communication Services (XLC), and Utilities (XLU) were the clear winners during Monday's trade, each outperforming the S&P 500's 1.5% gain. On Tuesday, that action reversed. All three sectors were among the worst performers within the benchmark index. AI is the clear risk to the upside for the stock market in 2025 Another Wall Street strategist has boosted their year-end S&P 500 target. In a note to clients on Tuesday, HSBC head of equity strategy for the Americas Nicole Inui boosted her year-end S&P 500 target to 6,400 from 5,600. Inui also detailed a bull-case scenario in which an "AI fueled rally" brings the benchmark index to 7,000 by year-end and a bear-case scenario in which tariff impacts drag the S&P 500 down to 5,700. "We have more confidence in the sustainability of the AI trade than further easing on policy uncertainty," Inui wrote. In other words, the risks are more heavily weighted to the bull case outcome. This reveals a key takeaway from how Wall Street is talking about the potential path higher for an S&P 500 that's already near record highs. The bull case for stocks isn't backed by a call for US economic growth to suddenly inflect higher or interest rate cuts from the Federal Reserve to suddenly spark a broad market rally. As we wrote in Tuesday's Yahoo Finance Morning Brief newsletter, the bull case in stocks is still being driven by AI investment and its ability to push corporate profits higher. "For our bull case scenario to play out, tariff costs would shift mostly to the supplier having a negligible impact on US corporate profits," Inui wrote. "At the same time, AI adoption accelerates and starts to have a real impact on profitability through efficiency gains." Another Wall Street strategist has boosted their year-end S&P 500 target. In a note to clients on Tuesday, HSBC head of equity strategy for the Americas Nicole Inui boosted her year-end S&P 500 target to 6,400 from 5,600. Inui also detailed a bull-case scenario in which an "AI fueled rally" brings the benchmark index to 7,000 by year-end and a bear-case scenario in which tariff impacts drag the S&P 500 down to 5,700. "We have more confidence in the sustainability of the AI trade than further easing on policy uncertainty," Inui wrote. In other words, the risks are more heavily weighted to the bull case outcome. This reveals a key takeaway from how Wall Street is talking about the potential path higher for an S&P 500 that's already near record highs. The bull case for stocks isn't backed by a call for US economic growth to suddenly inflect higher or interest rate cuts from the Federal Reserve to suddenly spark a broad market rally. As we wrote in Tuesday's Yahoo Finance Morning Brief newsletter, the bull case in stocks is still being driven by AI investment and its ability to push corporate profits higher. "For our bull case scenario to play out, tariff costs would shift mostly to the supplier having a negligible impact on US corporate profits," Inui wrote. "At the same time, AI adoption accelerates and starts to have a real impact on profitability through efficiency gains." Countries push for last-minute deals as Thursday tariff deadline looms Yahoo Finance's Ben Wersckul reports: Read more here. Yahoo Finance's Ben Wersckul reports: Read more here. Hims & Hers stock slides 6% after second quarter revenue misses forecasts Yahoo Finance's Jake Conley reports: Read more here. Yahoo Finance's Jake Conley reports: Read more here. PMI data points to 'encouragingly robust' economic activity to start the third quarter Activity in the services continued to expand during the month of July, according to two data releases on Tuesday morning. The Institute for Supply Management's (ISM) services PMI registered a reading of 50.1 in July, down from June's reading of 50.8, and below the 51.5 economists surveyed by Bloomberg had expected. Readings above 50 for this index indicate an expansion in activity, while readings below 50 indicate contraction. The manufacturing sector has been in contraction for most of the past two years. "July's PMI level continues to reflect slow growth, and survey respondents indicated that seasonal and weather factors had negative impacts on business," Steve Miller, the chair of the Institute for Supply Management Services Business Survey committee, said in the release. "The most common topic among survey panelists remained tariff-related impacts, with a noticeable increase in commodities listed as up in price." Elsewhere on Tuesday, S&P Global's composite PMI, which combines both activity in the services and manufacturing sectors, registered a reading of 55.1 in July, up from 52.9 the month prior. S&P Global chief business economist Chris Williamson said the data signals "encouragingly robust economic growth at the start of the third quarter." Williamson added that the July PMI data points to the US economy growing at a 2.5% annualized pace in the third quarter, above the 1.25% pace seen in the first half. Activity in the services continued to expand during the month of July, according to two data releases on Tuesday morning. The Institute for Supply Management's (ISM) services PMI registered a reading of 50.1 in July, down from June's reading of 50.8, and below the 51.5 economists surveyed by Bloomberg had expected. Readings above 50 for this index indicate an expansion in activity, while readings below 50 indicate contraction. The manufacturing sector has been in contraction for most of the past two years. "July's PMI level continues to reflect slow growth, and survey respondents indicated that seasonal and weather factors had negative impacts on business," Steve Miller, the chair of the Institute for Supply Management Services Business Survey committee, said in the release. "The most common topic among survey panelists remained tariff-related impacts, with a noticeable increase in commodities listed as up in price." Elsewhere on Tuesday, S&P Global's composite PMI, which combines both activity in the services and manufacturing sectors, registered a reading of 55.1 in July, up from 52.9 the month prior. S&P Global chief business economist Chris Williamson said the data signals "encouragingly robust economic growth at the start of the third quarter." Williamson added that the July PMI data points to the US economy growing at a 2.5% annualized pace in the third quarter, above the 1.25% pace seen in the first half. Trump rules out Bessent as next Fed chair, says may name Powell replacement soon Yahoo Finance's Jennifer Schonberger and Myles Udland report: Read more here. Yahoo Finance's Jennifer Schonberger and Myles Udland report: Read more here. Trending tickers in premarket trading: Pfizer, Palantir, Caterpillar Companies reporting earnings topped Yahoo Finance's trending tickers list on Tuesday. Here's a look at how they're trading 30 minutes before the opening bell: Read more live coverage of corporate earnings here. Companies reporting earnings topped Yahoo Finance's trending tickers list on Tuesday. Here's a look at how they're trading 30 minutes before the opening bell: Read more live coverage of corporate earnings here. Palantir stock surges on Q2 beat and raise Palantir (PLTR) stock climbed 7% higher in premarket trading on Tuesday following the AI software company's blowout second quarter earnings report on Monday afternoon. Palantir's revenue topped $1 billion in a quarter for the first time as the company dodged government contract spending cuts and reported beat-and-raise results. Year to date, Palantir stock is up 112%. Yahoo Finance's Jake Conley reports: Read more here. Palantir (PLTR) stock climbed 7% higher in premarket trading on Tuesday following the AI software company's blowout second quarter earnings report on Monday afternoon. Palantir's revenue topped $1 billion in a quarter for the first time as the company dodged government contract spending cuts and reported beat-and-raise results. Year to date, Palantir stock is up 112%. Yahoo Finance's Jake Conley reports: Read more here. Wall Street 2025 bonuses: Winners and losers so far Yahoo Finance's David Hollerith reports: Read more here. Yahoo Finance's David Hollerith reports: Read more here. Good morning. Here's what's happening today. Economic data: S&P Global US Services PMI (July final) S&P Global US Composite, (July final); ISM services index (July) Earnings: AMD (AMD), BP (BP), Caterpillar (CAT), Duke Energy (DUK), Lucid Group (LCID), Opendoor (OPEN), Pfizer (PFE), Rivian (RIVN), Super Micro Computer (SMCI), Snap (SNAP), Upstart (UPST) Here are some of the biggest stories you may have missed overnight and early this morning: One key reason a slowing economy isn't shaking stock market bulls Wall Street 2025 bonuses: Winners and losers so far Big Tech is power-hungry, and America's aging grid can't keep up Pfizer beats in Q2 earnings, reaffirms 2025 outlook Trump's Fed pick could face resistance from colleagues on rates Intel struggles with key manufacturing process for next chip EU says it expects turbulence in trade relations with US Jefferies sees crowded trade in Big Tech as Fed nears rate cuts US rig decline outpaces efficiency, threatening oil output Autopilot verdict deals Tesla a 'black eye' Economic data: S&P Global US Services PMI (July final) S&P Global US Composite, (July final); ISM services index (July) Earnings: AMD (AMD), BP (BP), Caterpillar (CAT), Duke Energy (DUK), Lucid Group (LCID), Opendoor (OPEN), Pfizer (PFE), Rivian (RIVN), Super Micro Computer (SMCI), Snap (SNAP), Upstart (UPST) Here are some of the biggest stories you may have missed overnight and early this morning: One key reason a slowing economy isn't shaking stock market bulls Wall Street 2025 bonuses: Winners and losers so far Big Tech is power-hungry, and America's aging grid can't keep up Pfizer beats in Q2 earnings, reaffirms 2025 outlook Trump's Fed pick could face resistance from colleagues on rates Intel struggles with key manufacturing process for next chip EU says it expects turbulence in trade relations with US Jefferies sees crowded trade in Big Tech as Fed nears rate cuts US rig decline outpaces efficiency, threatening oil output Autopilot verdict deals Tesla a 'black eye' Pfizer stock rises after beating Q2 earnings, reaffirming 2025 outlook Pfizer (PFE) stock rose 2% in premarket trading Tuesday after beating quarterly estimates on the top and bottom lines. The company posted earnings per share of $0.78, versus estimates of $0.58 per share, on revenue of $14.7 billion, compared to Wall Street expectations of $13.5 billion. Yahoo Finance's Anjalee Khemlani reports: Read more here. Pfizer (PFE) stock rose 2% in premarket trading Tuesday after beating quarterly estimates on the top and bottom lines. The company posted earnings per share of $0.78, versus estimates of $0.58 per share, on revenue of $14.7 billion, compared to Wall Street expectations of $13.5 billion. Yahoo Finance's Anjalee Khemlani reports: Read more here. One key reason a slowing economy isn't shaking stock market bulls Yahoo finance's senior reporter Josh Schafer looks at why softening economic data may not be as important for stocks as AI: Read more here. Yahoo finance's senior reporter Josh Schafer looks at why softening economic data may not be as important for stocks as AI: Read more here. Nvidia partner Hon Hai's July sales growth weakened by tariffs Nvidia's (NVDA) main server assembly partner Hon Hai Precision ( saw its Taiwan stock close 2% higher on Tuesday despite reporting a sales slowdown for July. Bloomberg News reports: Read more here. Nvidia's (NVDA) main server assembly partner Hon Hai Precision ( saw its Taiwan stock close 2% higher on Tuesday despite reporting a sales slowdown for July. Bloomberg News reports: Read more here. Oil flattened from multi-day drop after Trump's India rebuke Oil prices steadied from a three-day decline following a ramping up of threats from Trump to India over the Asian nation's continued use of Russian crude. Bloomberg reports: Read more here. Oil prices steadied from a three-day decline following a ramping up of threats from Trump to India over the Asian nation's continued use of Russian crude. Bloomberg reports: Read more here. 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Yahoo
3 minutes ago
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JD Vance to visit Indiana amid push for redistricting. Will Braun call special session?
Vice President JD Vance is visiting Indianapolis on Aug. 7 to speak with Gov. Mike Braun about the possibility of redistricting the state's congressional districts amid the Trump administration's push to increase the GOP majority in the House. Braun didn't rule out calling a special session to redraw the Hoosier State's congressional districts in an attempt to squeeze in another Republican seat ahead of the 2026 midterms. Republicans already hold seven of Indiana's nine U.S. House seats, but Braun's comments come as the Trump administration has encouraged other states to take up mid-decade redistricting to help maintain a GOP majority in the House after next year's elections. The redistricting process is already underway in Republican-led Texas where new congressional maps would give the GOP in that state five additional U.S. House seats. The effort resulted in Texas Democrats fleeing to Illinois on Aug. 3 to disrupt legislative procedures. What would it take to redistrict in Indiana? Braun would have to call a special session for the Indiana General Assembly if Republicans decide they want to redraw Hoosier congressional maps. House Speaker Todd Huston and Senate President Pro Tempore Rodric Bray, both Republicans, have not responded to IndyStar questions through spokespeople about whether Trump has contacted them or if they have an appetite to draft new maps. It's likely U.S. Rep. Frank Mrvan's 1st District seat in Northwest Indiana would be a signature focus of any redistricting efforts at the Statehouse, although some national outlets have reported longtime Indianapolis U.S. Rep. Andre Carson's 7th District seat could be targeted as well. National Republicans have targeted Mrvan's seat as a flip opportunity for the last two election cycles and are poised to again in 2026, especially as Northwest Indiana's rust belt communities have voted more Republican over the years. 'I think this seat is one that belongs in the Republican column,' House Speaker Mike Johnson told IndyStar in 2024. But Mrvan has still defeated his Republican challengers, winning reelection in 2022 by nearly six percentage points and in 2024 by eight percentage points. When did Indiana last go through redistricting? State lawmakers last went through redistricting in 2021 following the 2020 U.S. Census. At that time, Republicans left Mrvan's seat alone. Instead, they further cemented GOP grip on the 5th Congressional District after now-U.S. Rep. Victoria Spartz defeated Democrat Christina Hale by four points in a nationally-watched race in 2020. Since then, Spartz has won general election contests in 2022 and 2024 by double-digit percentage points over her Democratic opponents. The 2021 congressional maps also adjusted the boundaries of the 6th Congressional District, now represented by Republican U.S. Rep. Jefferson Shreve, to include the southern portion of Indianapolis. Some Republicans at the time criticized the move as potentially minimizing the voices of more rural communities in that district. This story will be updated. Contact IndyStar state government and politics reporter Brittany Carloni at Sign up for our free weekly politics newsletter, Checks & Balances, curated by IndyStar politics and government reporters. This article originally appeared on Indianapolis Star: JD Vance to visit Indiana amid push for redistricting
