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Top stories today:
- Trump admin said to discuss taking stake in Intel
- PPI +0.9% MoM in Jul., biggest gain since Jun. 2022
- Putin courts Trump with Ukraine peace praise ahead of Alaska meeting
- Cohere raises $500M at $6.8B valuation
- Google unveils Gemma 3 270M compact āopenā AI model
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing todayās newsletter (beware of hallucinations):
1. Trump admin said to discuss taking stake in Intel
Representational image generated using ChatGPT.
Intelās Ohio factory hub could get a boost from the deal.
The factory, once touted as the worldās largest chipmaking facility, has faced repeated delays.
The size of the potential stake isnāt clear.
+8.9% in Intel stock Thu. on stake news, closing +7.4% at $23.86.
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3. PPI +0.9% MoM in Jul., biggest gain since Jun. 2022, signals tariff-driven cost pass-through
+3.3% YoY in PPI.
+1.1% MoM in services costs, the most since Mar. 2022.
Core PPI: 0.9% MoM / 3.7% YoY in Jul., exp. 0.2% / 2.9%, from 0.0% / 2.6% in Jun.
The odds of no rate cut in the Sep. FOMC meeting jumped from 12% to 21% on Polymarket
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5. Putin courts Trump with Ukraine peace praise ahead of 3 PM ET Alaska meeting
Representational image generated using ChatGPT.
