Qualcomm Q3 earnings to highlight AI's impact on smartphone market, data center plans
https://finance.yahoo.com/technology/article/qualcomm-q3-earnings-to-highlight-ais-impact-on-smartphone-market-data-center-plans-160509349.html

Starbucks expected to post another solid quarter with sustained turnaround momentum
https://finance.yahoo.com/markets/stocks/article/starbucks-expected-to-post-another-solid-quarter-with-sustained-turnaround-momentum-154557895.html

#USMarketUpdate
Wall Street closes down sharply after Fed holds rates unchanged | Reuters

SUMMARY
Fed leaves interest rate unchangedEarnings from Meta, Microsoft on tap after the bellFord rises after lifting FY profit outlookS&P 500 -1.52%, Nasdaq -1.74%, Dow -2.19%

July 29 (Reuters) - Wall Street ended sharply lower on Wednesday after the Federal Reserve held interest rates steady, with AI-related chip stocks adding to recent declines ahead of ​quarterly reports from Microsoft and Meta Platforms and the Nasdaq 100 index marking an 11% drop from its June record high.

The Fed's widely expected ‌decision to leave the benchmark interest rate in the 3.50%-3.75% range drew dissents from three of the 12 members of the policy-setting Federal Open Market Committee who "preferred" a quarter-percentage-point hike at this meeting.

The benchmark S&P 500 (.SPX), opens new tab hit its lowest level in a month, while the tech-heavy Nasdaq Composite index (.IXIC), opens new tab was down about 9% from its June record high.

The Nasdaq 100 index (.NDX), opens new tab dropped 2.1%, extending recent ​losses as investors unloaded AI-related stocks due to ongoing concerns about heavy capital spending. That index is composed of the Nasdaq exchange's most valuable ​non-financial companies.

Investors worry that major U.S. companies are deepening a web of AI-linked investments and continuing to funnel billions into the emerging technology at the expense of free cash flow.

Meta Platforms (META.O), opens new tab dropped 4% in extended trade after the social media company said it now expects ​2026 capital expenditure to be between $130 billion and $145 billion, compared with its prior forecast of $125 billion to $145 billion.

Also after the bell, Microsoft (MSFT.O), opens new tab climbed 0.6% after it ​topped Wall Street estimates for quarterly cloud revenue growth, a sign its massive spending on AI infrastructure was paying off.

Meanwhile, competition from China has been heating up, both in the ‌race to ⁠develop advanced chips and as Chinese firms roll out cheaper AI models.

Speaking to reporters, Fed chief Kevin Warsh said spending on AI was laying the groundwork for future growth.

AI-related chipmakers added to recent losses after a sixfold jump in SK Hynix's (000660.KS), opens new tab quarterly profit fell short of lofty investor expectations. The South Korean company's shares fell 10%.
AI infrastructure company Vertiv (VRT.N), opens new tab slumped 17% after missing quarterly revenue expectations...

Eight of the 11 S&P ⁠500 sector indexes declined, led lower by industrials (.SPLRCI), opens new tab, down 3.24%, followed by a 2.5% loss in information technology (.SPLRCT), opens new tab.

https://www.reuters.com/business/sp-500-nasdaq-futures-inch-up-before-fed-decision-chip-stocks-wobble-2026-07-29/

Wall Street closes down sharply after Fed holds rates unchanged
https://www.straitstimes.com/business/companies-markets/wall-street-closes-down-sharply-after-fed-holds-rates-unchanged

While You Were Sleeping: 5 stories you might have missed, July 30, 2026
https://www.straitstimes.com/world/while-you-were-sleeping-5-stories-you-might-have-missed-july-30-2026

Meta tumbles after earnings miss
https://finance.yahoo.com/news/meta-misses-on-q2-earnings-stock-tumbles-121325403.html

Starbucks stock pops as efforts to revive 'third place' pay off, 2026 outlook improves
https://finance.yahoo.com/markets/stocks/article/starbucks-stock-pops-as-efforts-to-revive-third-place-pay-off-2026-outlook-improves-154557895.html

Qualcomm Q3 earnings top revenue expectations as smartphone market slows
https://finance.yahoo.com/technology/article/qualcomm-q3-earnings-top-revenue-expectations-as-smartphone-market-slows-160509349.html

Oil prices tick back up as war risk reignites
https://finance.yahoo.com/markets/article/oil-prices-tick-back-up-as-war-risk-reignites-174549565.html

Divided Fed holds interest rates steady
https://finance.yahoo.com/economy/policy/article/fed-holds-interest-rates-steady-but-3-officials-dissent-in-favor-of-a-hike-135539166.html


#QuarterChart
https://vt.tiktok.com/ZS4r8jqLJ/

Exclusive-Intel providing chip technology to startup led by co-investor of Tan in rare deal
https://finance.yahoo.com/technology/articles/exclusive-intel-providing-chip-technology-225454435.html

US awards Lockheed Martin $58.6 billion in largest-ever Patriot missile deal
https://finance.yahoo.com/technology/articles/us-awards-lockheed-martin-58-222515514.html

Here are the five big takeaways from this week's Fed meeting

https://www.cnbc.com/2026/07/29/here-are-the-five-big-takeaways-from-this-weeks-fed-meeting.html?__source=androidappshare

Tesla Closed Tuesday 3% Above Its 52-Week Low. Here's What Happened the Last 3 Times It Got This Close.
https://finance.yahoo.com/markets/stocks/articles/tesla-closed-tuesday-3-above-211300180.html

Wall Street is panicking over Kevin Warsh’s patience
https://finance.yahoo.com/economy/policy/articles/wall-street-panicking-over-kevin-203205907.html

Microsoft reports gains from cloud and AI investments
https://www.straitstimes.com/business/microsoft-reports-gains-from-cloud-and-ai-investments

#MarketMind
#TRADINGDAY All Warshed up  | Reuters

July 29 (Reuters) - U.S. shares tumbled and long-dated Treasury yields surged to multi-decade peaks on Wednesday after the Federal Reserve kept interest rates on hold, while earlier, the rout in South Korean stocks snowballed to historic proportions after chipmaker SK Hynix released its results.

In my column today, I look at the chip selloff and ​other signs that the AI frenzy may be souring. Could a tech bubble burst result in a 2000- or 2008-style crash? Maybe, ‌but probably not.

Today's Talking Points
* ​Fed-speak
* Leverage
* London calling

What could move markets tomorrow?
South Korea's Samsung earnings (Q2)Bank of England interest rate decisionU.S. GDP (Q2, advance)U.S. ​PCE inflation (June)U.S. earnings, including Apple and Amazon

https://www.reuters.com/commentary/reuters-open-interest/global-markets-trading-day-graphic-2026-07-29/

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#MarketsWrap by Bloomberg
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#HKMarketUpdate by Reuters and Trading Economics

#WeekAhead by Reuters, Investopedia & Yahoo Finance
#Chart of the Day by Yahoo Finance
#Earnings by Earnings Whisper
#USMarketUpdate by Reuters, CNBC and Yahoo Finance
#TradingDay #MarketMind by Reuters
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#SgMarketUpdate by Business Times
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STI drops over 1% as US markets tumble on rate, inflation uncertainties
https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/sti-drops-over-1-us-markets-tumble-rate-inflation-uncertainties

Singtel confirms talks for Optus stake sale
https://www.businesstimes.com.sg/companies-markets/telcos-media-tech/singtel-confirms-talks-optus-stake-sale