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Real-time News
The U.S. military stated that as of July 31, Central Command had altered the routes of 30 merchant ships, rendered two ships inoperable, and boarded and inspected two more.August 1st - According to the New York Times, Federal Reserve Chairman Warsh is reportedly considering reducing the number of the Feds regular interest rate decision meetings. This move could cause a major upheaval and mark the most significant change in the Feds operations in recent years. Currently, the Feds 12-member Federal Open Market Committee (FOMC) meets eight times a year to vote on whether to raise, lower, or maintain borrowing costs. According to four sources familiar with the matter, Warsh proposed adjusting the meeting frequency at this weeks Fed meeting. These sources also revealed that at this weeks meeting, Warsh discussed the legal basis for the minimum number of meetings the Fed must hold annually, and the timeline for such adjustments. Reportedly, Warsh requested that officials provide feedback to him, rather than having a comprehensive discussion of the meeting schedule at this weeks meeting.The Houthi rebels in Yemen: The blockade of Saudi Arabia will continue. The armed forces will intercept their ships wherever possible, as long as conditions permit.According to the New York Times, Federal Reserve Chairman Warsh is considering reducing the frequency of the Feds policy meetings.U.S. stocks closed higher on Friday, boosted by strong quarterly earnings from Amazon (AMZN.O). The tech giants robust earnings report bolstered investor confidence in artificial intelligence-related stocks, while Apple (AAPL.O) saw its shares decline after disappointing earnings. Amazons shares surged more than 15% after reporting its biggest quarterly revenue increase in over four years. Its earnings, along with a similar report from Microsoft on Wednesday, eased investor concerns about potential overspending on AI data centers. This month, concerns that massive investments in AI infrastructure might take too long to show results have shaken global markets and raised questions about the core companies of Wall Streets recent rally. "There were concerns that Amazons spending was just a moonshot risky investment, an irresponsible expenditure, and Amazon CEO Andrew Wim just dispelled those concerns," said Jake Dollarhide, CEO of Longbow Asset Management. However, Apple shares plunged 7.4% after the company warned that supply constraints would impact growth, exacerbating concerns that recent iPhone price increases would weaken consumer demand.
