Bonds & Stocks
Contracts on the S&P 500 and Nasdaq 100 added 0.6% and 0.8%, respectively. Apple Inc. climbed in premarket trading after announcing a $100 billion US investment that may exempt it from President Donald Trump’s threatened tariff on chip imports.
Economy
Recurring applications for unemployment benefits surged to the highest since November 2021, adding to recent signs that the labor market is weakening. Continuing claims, a proxy for the number of people receiving benefits, rose by 38,000 to 1.97 million in the week ended July 26.
World
The Bank of England cut interest rates to the lowest in over two years in a closer-than-expected decision that leaves investors with what Governor Andrew Bailey called “genuine uncertainty” on its next move.