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Gold's 30% Correction: A Story About Inflation, Oil, The Dollar and Changing Expectations
The Last Movie Star: How Tom Cruise Redefined Four Decades of Hollywood
Four decades, five different registers, one constant: audience trust. From Jerry Maguire's vulnerability to Mission: Impossible's stunt-driven commitment, Tom Cruise built a career few others have matched, and Maverick proved he's not done yet.
Cerebras Beat Wall Street's Revenue Estimate by 8%. Its Stock Still Fell 16% Over the Next Two Days.
Cerebras posted 103% core revenue growth and beat Wall Street's estimates in its first full quarter as a public company, but a $450 million GAAP loss sent the stock tumbling 16% in two trading days. The gap between the headline loss and the underlying business says a lot about how Wall Street is pricing young AI infrastructure companies right now.
US Consumer Sentiment Just Sank to 51.0, Badly Missing the 54.5 Estimate. Inflation Expectations Rose to 4.3% in the Same Report, Just as the Fed Leans Toward a September Hike.
The University of Michigan's August survey reversed two months of recovery in a single report, and the inflation expectations buried inside it may matter more to the Fed than the headline drop. Target and Walmart earnings, then Fed Chair Kevin Warsh's first Jackson Hole keynote, are next up to confirm or contradict the signal.
Copper Just Hit a New All-Time High of $6.71 a Pound. US Warehouses Are Already Sitting on a Record Stockpile.
Copper hit a fresh all-time high of $6.7140 a pound on COMEX in mid-August, weeks after US warehouses filled with a record 652,200 metric tons of the metal back in June. The rally has more to do with traders positioning for a tariff that hasn't taken effect yet than with any near-term supply crunch.
Markets
Gold's 30% Correction: A Story About Inflation, Oil, The Dollar and Changing Expectations
Cerebras Beat Wall Street's Revenue Estimate by 8%. Its Stock Still Fell 16% Over the Next Two Days.
Cerebras posted 103% core revenue growth and beat Wall Street's estimates in its first full quarter as a public company, but a $450 million GAAP loss sent the stock tumbling 16% in two trading days. The gap between the headline loss and the underlying business says a lot about how Wall Street is pricing young AI infrastructure companies right now.
US Consumer Sentiment Just Sank to 51.0, Badly Missing the 54.5 Estimate. Inflation Expectations Rose to 4.3% in the Same Report, Just as the Fed Leans Toward a September Hike.
The University of Michigan's August survey reversed two months of recovery in a single report, and the inflation expectations buried inside it may matter more to the Fed than the headline drop. Target and Walmart earnings, then Fed Chair Kevin Warsh's first Jackson Hole keynote, are next up to confirm or contradict the signal.
Crypto
Gold Hit $4,419 an Ounce This Week on Cooling Inflation Data. Bitcoin Fell to $62,700 on the Exact Same Numbers.
Gold climbed to $4,419 an ounce this week as traders priced in higher odds the Fed holds rates steady in September. Bitcoin fell on the same inflation data, dragged down by ETF outflows and the thinnest spot trading volume since 2019.
The CLARITY Act Missed Its Last Chance to Pass Before Recess. Bitcoin ETFs Pulled In $853 Million the Same Week, Their Best Since April.
The Senate ran out of time on crypto's biggest regulatory bill and pushed the vote to September. Bitcoin ETFs kept buying anyway, pulling in $853 million in a single week, the strongest stretch since April.
Bitcoin ETFs Just Pulled In $626 Million Over Three Days. It Follows the Worst Month for Crypto Funds This Year.
US spot Bitcoin ETFs booked four straight days of net inflows through August 6, with BlackRock's IBIT behind most of the buying. The rebound follows July's worst month for crypto fund flows this year, and the numbers underneath the headline total are more cautious than the price action suggests.
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