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Top stories today:
1. Fed hikes base rate by 25 bps to 5.25% - 5.50%
2. Anthropic, Google, Microsoft, OpenAI form self-regulatory body
3. Meta revenue was +11% to $32.0B in Q2, metaverse losses at $3.7B
4. Tesla owners love the car, but worry about Elon

0. Data and calendar

All values as of 6 AM ET / 3 AM PT, other than S&P500 close (4 PM ET / 1 PM PT).

All times are ET.

1. Fed hikes base rate by 25 bps to 5.25% - 5.50%, as Powell says future hikes are uncertain

The +25 bps was in line with expectations:

Fed hikes base rate by 25 bps to 5.25% - 5.50%, as Powell says future hikes are uncertain

0. Data and calendar

1. Fed hikes base rate by 25 bps to 5.25% - 5.50%, as Powell says future hikes are uncertain

Keep reading

Anthropic restores Fable 5, Mythos 5 after U.S. lifts export controls

OpenAI teases Codex keyboard device for Jul. 15

GPT-5.6 Sol, Terra, Luna debut in limited preview as OpenAI’s newest frontier models

OpenAI said to delay IPO to 2027 amid doubts over Sam Altman’s $1T valuation goal

Fed hikes base rate by 25 bps to 5.25% - 5.50%, as Powell says future hikes are uncertain

0. Data and calendar

1. Fed hikes base rate by 25 bps to 5.25% - 5.50%, as Powell says future hikes are uncertain

Subscribe to keep reading

Keep reading

Anthropic restores Fable 5, Mythos 5 after U.S. lifts export controls

OpenAI teases Codex keyboard device for Jul. 15

GPT-5.6 Sol, Terra, Luna debut in limited preview as OpenAI’s newest frontier models

OpenAI said to delay IPO to 2027 amid doubts over Sam Altman’s $1T valuation goal