TRUMP ON PHILIPPINES, TARIFFS: WE'LL PROBABLY AGREE TO SOMETHING
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MSFT POACHES ABOUT TWO DOZEN STAFF FROM GOOGLE DEEPMIND: CNBC
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STABLECOIN SUPPLY ON $ETH SURPASSES $140 BILLION
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MUSK: XAI GOAL IS 50 MILLION IN UNITS OF H100 EQUIVALENT-AI COMPUTE (BUT MUCH BETTER POWER-EFFICIENCY) ONLINE WITHIN 5 YEARS
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MUSK ANNOUNCED THAT NVIDIA'S FIRST BATCH OF 550K GB200S & GB300S FOR XAI'S COLOSSUS 2 SUPERCLUSTER WILL GO ONLINE IN WEEKS
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CANADIAN PRIME MINISTER CARNEY SAYS OTTAWA WILL AGREE A DEAL WITH THE UNITED STATES THAT IS IN THE BEST INTERESTS OF CANADIANS
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TRUMP: PHILIPPINES WILL PAY A 19% TARIFF.

TRUMP: WE CONCLUDED OUR TRADE DEAL WITH PHILIPPINES
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*TRUMP CUTS TARIFF ON PHILIPPINE GOODS TO 19% FROM 20%
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$TSLA - TESLA REGISTRATIONS IN CALIFORNIA FELL 21.1% IN Q2 - CALIFORNIA NEW CAR DEALERS ASSOCIATION
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FORMER TWITTER CEO JACK DORSEY'S SQUARE TO ALLOW MERCHANT TO ACCEPT BITCOIN NATIVE TRANSACTIONS FROM TODAY
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*TRUMP: ANNOUNCES TRADE DEAL WITH JAPAN - $550 INVESTMENT AND 15% TARIFF
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UBS DELAYS ECB RATE CUT FORECAST

UBS no longer expects the European Central Bank to cut rates at this Thursday’s meeting. It now sees the 25 bps cut happening on September 11 instead, citing extended US-EU trade talks as a reason for the delay. UBS expects this September cut to be the final move in the current easing cycle.
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$AMZN - BOFA RAISES AMAZON PRICE TARGET TO $265

BofA Securities raised its Amazon price target to $265 from $248, maintaining a Buy rating. Analyst Justin Post cites strong retail trends, accelerating AWS capex, and potential for AWS growth in the second half of the year. He also sees room for multiple expansion given sector trends and Amazon’s valuation.
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*EU'S €100 BILLION NO-DEAL PLAN TO MATCH US 30% TARIFF
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U.S. FEDERAL RESERVE TO HOLD FEDERAL FUNDS RATE IN 4.25%-4.50% RANGE ON JULY 30, SAY ALL 105 ECONOMISTS
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U.S. FED TO CUT FUNDS RATE 25 BPS IN SEPTEMBER, SAY 56 OF 105 ECONOMISTS; ABOUT TWO-THIRDS EXPECT ONE OR TWO CUTS THIS YEAR
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36 OF 50 ECONOMISTS SAY THEY ARE WORRIED ABOUT U.S. FEDERAL RESERVE INDEPENDENCE; 14 SAY THEY ARE NOT
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EU PLANS 30% TARIFFS ON U.S. GOODS IF NO DEAL BY AUG. 1

The EU plans 30% tariffs on $117 billion of U.S. goods if a deal isn’t reached by August 1 and the U.S. imposes similar tariffs on EU exports. The measures would merge existing and proposed tariffs, hitting U.S. products like Boeing aircraft, cars, and bourbon, and could take effect next month if the U.S. moves ahead.
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BESSENT: EU RETALIATORY PREPARATION IS A NEGOTIATING TACTIC
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BESSENT: TALKS WITH EU ARE GOING BETTER THAN THEY HAD BEEN
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BESSENT: IN GOOD PLACE WITH CHINA, CAN MOVE ON TO BIGGER TALKS
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