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Stock market today: Dow jumps 450 points as S&P 500, Nasdaq log back-to-back records on surging Fed rate cut bets
US stocks climbed on Wednesday with the benchmark S&P 500 (^GSPC) and tech-heavy Nasdaq Composite (^IXIC) notching back-to-back record highs as investors bet almost unanimously on a Federal Reserve rate cut at its next meeting following the latest inflation data. The Dow Jones Industrial Average (^DJI) led the major gauges, closing up above 1%, or more than 450 points. The benchmark S&P 500 (^GSPC) and the tech-heavy Nasdaq Composite (^IXIC) pared earlier gains but still rose around 0.3% and 0.1%, respectively. The Dow is once again within striking distance of an all-time high last reached in December. The gains followed a big upswing in stocks on Tuesday after the release of the July Consumer Price Index (CPI) report, with the S&P 500 and Nasdaq both touching new records. Though the data showed inflation had ticked up, it increased less than expected. Treasury Secretary Scott Bessent also on Wednesday called on the Fed to lower rates by 150 to 175 basis points. "I think we could go into a series of rate cuts here, starting with a 50 basis point rate cut in September," he told Bloomberg. The result has been a surge in bets that the Fed would cut interest rates at its September policy meeting, especially in light of recent warning signs the labor market is weakening. By Wednesday afternoon, traders had fully priced in a September cut, according to the CME Group, with bets also rising on a potential "jumbo" cut of 50 basis points. Later this week, investors will get two more snapshots on the state of the economy with the release of the Producer Price Index on Thursday and retail sales data on Friday. In corporate news, Circle (CRCL) fell on Wednesday after the company announced it would sell 10 million shares on the heels of its first earnings report since its explosive public debut. Cava (CAVA) shares also dove after the company issued its first annual sales growth target cut. CoreWeave (CRWV) stock plummeted as the company's operating income guidance fell below expectations and as its cost of debt mounts, despite beating revenue estimates on strong demand for AI. S&P 500, Nasdaq secure more records Wall Street rallied Wednesday, with the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) locking in a second straight day of record closes as traders all but priced in a Federal Reserve rate cut at its next meeting after fresh inflation figures. The Dow Jones Industrial Average (^DJI) led the charge, climbing over 450 points, or above 1%, to close back near record territory. And whhile the S&P 500 and Nasdaq pared earlier gains, they still ended the day up about 0.3% and 0.1%, respectively, extending their record-breaking run. Paramount Skydance surges as much as 60% after UFC deal Paramount Skydance Corporation PSKY (PSKY) surged as much as 60% on Wednesday as traders piled into the newly merged media powerhouse — less than a week after the two companies officially tied the knot. In the few days since its merger, CEO David Ellison has wasted no time capturing investor attention, most notably by striking a seven-year, $7.7 billion deal to make Paramount Skydance the exclusive US home for all UFC events. The deal, announced on Monday, marks a major payday for TKO Group Holdings (TKO), the UFC's parent company, far surpassing its previous agreement with Disney's (DIS) ESPN, which was worth roughly $550 million annually. "With lower leverage following the Paramount/Skydance transactions and Ellison-backed $1.5B primary issuance, PSKY is immediately making use of the improved balance sheet," Ric Prentiss, analyst at Raymond James, wrote in reaction to the report. "This deal is a significant move in and of itself for Paramount+, as the consistent live event schedule should help the service drive greater scale of subscribers and less churn, albeit coming with very substantial annual cost," the analyst added. Apple shares jump on report of AI comeback plans Apple (AAPL) shares spiked to session highs on Wednesday after Bloomberg reported the company is planning its artificial intelligence comeback, anchored by an ambitious lineup of new products that include household robots, a lifelike Siri, a smart speaker with a display, and home-security cameras. The stock later pared gains, trading about 1% higher in the late afternoon. Apple's AI ambitions have stumbled this year, with shares down about 7% even as most of its "Magnificent Seven" peers, aside from Tesla (TSLA), have surged. Analysts cite the company's lack of a clear AI strategy as the biggest disappointment. Ahead of Wednesday's report, Apple CEO Tim Cook hinted at the upcoming devices in an all-hands meeting earlier this month, telling employees, "The product pipeline — which I can't talk about — it's amazing, guys. It's amazing,' he said. 'Some of it you'll see soon. Some of it will come later. But there's a lot to see." Oil prices fall: Here's what's behind the declines Oil prices slipped on Wednesday as investors perceived the risk of an industry prices slipped on Wednesday as investors perceived the risk of an industry glut. Read more here. Ethereum surges to near record as investors bet on 'biggest macro trade' of the next decade Yahoo Finance's Ines Ferré reports: Read more here. Trump's search to replace Fed Chair Powell continues as new report says up to 11 names under consideration The Trump administration is broadening its search for the next Federal Reserve chair, with reports suggesting as many as 11 candidates may be in the running to replace Jerome Powell when his term expires in May, Yahoo Finance's Jennifer Schonberger reports. Schonberger writes: Read the full story here. CoreWeave stock plummets as AI cloud company reports 'deteriorating' operating income outlook CoreWeave (CRWV) stock plummeted 18% Wednesday after the AI data center company reported a disappointing quarterly outlook for its operating income. The company said the previous day that it expects its third quarter operating income to fall between $160 million and $190 million, below the $192 million expected by Wall Street analysts tracked by Bloomberg. At the same time, the company expects interest expense of $350 million to $390 million during that period. DA Davidson analyst Gil Luria told Yahoo Finance in an email Wednesday that "deteriorating operating income guidance highlights the main issue for CoreWeave - their interest expense is higher than their operating income which means they aren't generating enough profit to pay their debt holders." CoreWeave is one of the largest holders of Nvidia's (NVDA) AI chips and rents its data center capacity to Big Tech firms such as Microsoft (MSFT), Meta (META), and Google (GOOG) as they scramble to power their AI ambitions. CoreWeave stock's performance is closely watched as a metric of AI demand. Instacart, Kroger stocks under pressure after Amazon launches same-day grocery delivery Grocery stocks are under pressure, including Instacart (CART), Kroger (KR), Albertsons (ACI), and Sprouts Farmers Market (SFM), after Amazon (AMZN) announced same-day delivery for groceries. On Wednesday, the e-commerce giant said it would start offering same-day perishable grocery delivery in over 1,000 cities. Amazon plans to reach over 2,300 areas across the US by the end of 2025. The service is available for Prime members for free, only on orders over $25. It will cost $12.99 without the membership. In comparison, Instacart has additional service fees but a lower threshold of $10 or more per delivery order. Amazon stock is roughly flat, compared to the nearly 11% decline in Instacart shares and roughly 4% decline for Kroger, Albertsons, and Sprouts. Crypto exchange Bullish prices IPO at $37 per share, valuing company at $5 billion Cryptocurrency exchange operator Bullish (BLSH) is set to go public on Wednesday at a valuation north of $5 billion as the IPO market looks set to continue a strong summer. Yahoo Finance's Jake Conley reports: Read the full story here. Stocks rise at the open US stocks moved higher on Wednesday after the open as expectations for Fed interest rate cuts rose. The tech-heavy Nasdaq Composite (^IXIC) and the Dow Jones Industrial Average (^DJI) rose more than 0.5%, while the benchmark S&P 500 (^GSPC) gained 0.4%. Within the S&P 500, the Consumer Discretionary Sector (XLY) was up 0.7%, while the Technology Sector (XLK) climbed more than 0.6%. Treasury yields fall after Bessent urges Fed to lower rates US Treasury yields fell on Wednesday as traders increased bets that the Federal Reserve would cut interest rates at its September meeting following a rise in core inflation. At the same time, Treasury Secretary Scott Bessent urged the Fed to cut interest rates by 150 basis points in an interview with Bloomberg on Wednesday, maintaining political pressure on the central bank. The 10-year Treasury yield (^TNX) fell 4 basis points to 4.25%, and the 30-year yield (^TYX) dropped to 4.84%. Tencent earnings, trade truce lift China tech stocks As my colleague Jenny McCall notes below, strong domestic liquidity in China and positive sentiment from the US trade truce have boosted Chinese stocks in recent months. On Wednesday, that rally continued in top Chinese stocks, as recent inflation data boosted hopes for US interest rate cuts and tech companies gained greater clarity around the sale of Nvidia and AMD chips in China. Tencent ( gained 4.7% after the WeChat parent company reported revenue growth of 15%, above estimates. The company is also accelerating AI research to keep up with the competition, which includes Alibaba (BABA), ByteDance, and US companies OpenAI and Anthropic. US-listed shares of e-commerce company Alibaba rose 3.6%, while (JD) added 2%. Baidu (BIDU) climbed 2.5%, and PDD Holdings (PDD) rose 1.9%. VIX fear gauge sinks to lowest level since December The VIX (^VIX) volatility index, a key fear gauge in markets, slipped to 14.49 on Wednesday morning, hitting its lowest level since late December 2024. Despite geopolitical tensions and lingering tariff uncertainty, there are a few reasons why markets are pricing in fewer swings. For one, investors are holding a lot of cash and buying assets at lower prices during sell-offs, according to Bloomberg. Second, the global economy appears to be holding up better than investors expected after President Trump unleashed "Liberation Day" tariffs in April. At that time, the VIX spiked to 52. Bloomberg reports: Read more here. Good morning. Here's what's happening today. Economic data: MBA Mortgage Applications (week ending Aug. 8) Earnings: Brinker International (EAT), Cisco (CSCO), Red Robin (RRGB) Here are some of the biggest stories you may have missed overnight and early this morning: Earnings live: Cava stock tumbles and CoreWeave slides Crypto is having a breakout summer — and bitcoin isn't the reason US leads markets higher as world adapts to tariff policy Dutch Bros eyes expansion as Starbucks battle heats up Investors playing more defense even as stocks climb to new highs US 30-year mortgage rate falls, refi applications surge Market gauges of volatility are fading despite high uncertainty China's $11T stock market stages steady resurgence Bitcoin isn't the reason for crypto's breakout summer The crypto world has had room to run this year amid a series of legislative wins and new financial initiatives. But notably, the big news items don't really involve bitcoin (BTC-USD), Yahoo Finance's Hamza Shaban notes in today's Morning Brief. Hamza writes: Japan's Nikkei hits all-time high The Nikkei 225, the primary index for the Tokyo Stock Exchange, is trading at all-time highs amid optimism that confusion over the recent US-Japan trade agreement is being addressed in addition to the renewed strength in Big Tech. Domestically, Japan's key auto industry is cautiously optimistic that the the positive will outweigh any drag coming from tariffs. "The Nikkei was not able to hit a record until today because chip-related shares and auto shares dragged on the index," Takamasa Ikeda, senior portfolio manager at GCI Asset Management, told Reuters. China's $11 trillion stock market stages steady resurgence Chinese stocks have risen in recent months, helped by strong domestic liquidity and despite a lack of major catalysts. Bloomberg News reports: Read more here. The best points I have heard this morning on CoreWeave CoreWeave (CRWV) was teed up to let down investors last night. And it did on several fronts. First, the company's net loss was much higher than consensus. Second, capital expenditures were a whopping $1 billion higher sequentially. And third, capex may climb another $500 million in the current quarter. While I appreciate the company's revenue backlog of $30.1 billion doubled year over year, the company's mixed results and high debt load are real causes for concern. Hence, the sharp pre-market pullback. Here are two important call outs this morning from DA Davidson analyst Gil Luria: Cava crashing Cava (CAVA) is getting run over premarket to the tune of 23%. Bottom line on this one: When you are valued as a high-growth stock and you don't deliver high growth, your stock will take a beating. Same restaurant sales only rose 2.1%. The company slashed its full-year same-restaurant sales guidance. The earnings call wasn't exactly alarming — the company appears to still be structurally sound. But a slower economy and increased competition is weighing on the brand's results. We heard the same exact tone at Chipotle (CMG) and Starbucks (SBUX) this earnings season. The positive here: Cava is testing salmon for its menu. Who doesn't like salmon in a $15+ salad bowl?! S&P 500, Nasdaq secure more records Wall Street rallied Wednesday, with the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) locking in a second straight day of record closes as traders all but priced in a Federal Reserve rate cut at its next meeting after fresh inflation figures. The Dow Jones Industrial Average (^DJI) led the charge, climbing over 450 points, or above 1%, to close back near record territory. And whhile the S&P 500 and Nasdaq pared earlier gains, they still ended the day up about 0.3% and 0.1%, respectively, extending their record-breaking run. Wall Street rallied Wednesday, with the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) locking in a second straight day of record closes as traders all but priced in a Federal Reserve rate cut at its next meeting after fresh inflation figures. The Dow Jones Industrial Average (^DJI) led the charge, climbing over 450 points, or above 1%, to close back near record territory. And whhile the S&P 500 and Nasdaq pared earlier gains, they still ended the day up about 0.3% and 0.1%, respectively, extending their record-breaking run. Paramount Skydance surges as much as 60% after UFC deal Paramount Skydance Corporation PSKY (PSKY) surged as much as 60% on Wednesday as traders piled into the newly merged media powerhouse — less than a week after the two companies officially tied the knot. In the few days since its merger, CEO David Ellison has wasted no time capturing investor attention, most notably by striking a seven-year, $7.7 billion deal to make Paramount Skydance the exclusive US home for all UFC events. The deal, announced on Monday, marks a major payday for TKO Group Holdings (TKO), the UFC's parent company, far surpassing its previous agreement with Disney's (DIS) ESPN, which was worth roughly $550 million annually. "With lower leverage following the Paramount/Skydance transactions and Ellison-backed $1.5B primary issuance, PSKY is immediately making use of the improved balance sheet," Ric Prentiss, analyst at Raymond James, wrote in reaction to the report. "This deal is a significant move in and of itself for Paramount+, as the consistent live event schedule should help the service drive greater scale of subscribers and less churn, albeit coming with very substantial annual cost," the analyst added. Paramount Skydance Corporation PSKY (PSKY) surged as much as 60% on Wednesday as traders piled into the newly merged media powerhouse — less than a week after the two companies officially tied the knot. In the few days since its merger, CEO David Ellison has wasted no time capturing investor attention, most notably by striking a seven-year, $7.7 billion deal to make Paramount Skydance the exclusive US home for all UFC events. The deal, announced on Monday, marks a major payday for TKO Group Holdings (TKO), the UFC's parent company, far surpassing its previous agreement with Disney's (DIS) ESPN, which was worth roughly $550 million annually. "With lower leverage following the Paramount/Skydance transactions and Ellison-backed $1.5B primary issuance, PSKY is immediately making use of the improved balance sheet," Ric Prentiss, analyst at Raymond James, wrote in reaction to the report. "This deal is a significant move in and of itself for Paramount+, as the consistent live event schedule should help the service drive greater scale of subscribers and less churn, albeit coming with very substantial annual cost," the analyst added. Apple shares jump on report of AI comeback plans Apple (AAPL) shares spiked to session highs on Wednesday after Bloomberg reported the company is planning its artificial intelligence comeback, anchored by an ambitious lineup of new products that include household robots, a lifelike Siri, a smart speaker with a display, and home-security cameras. The stock later pared gains, trading about 1% higher in the late afternoon. Apple's AI ambitions have stumbled this year, with shares down about 7% even as most of its "Magnificent Seven" peers, aside from Tesla (TSLA), have surged. Analysts cite the company's lack of a clear AI strategy as the biggest disappointment. Ahead of Wednesday's report, Apple CEO Tim Cook hinted at the upcoming devices in an all-hands meeting earlier this month, telling employees, "The product pipeline — which I can't talk about — it's amazing, guys. It's amazing,' he said. 'Some of it you'll see soon. Some of it will come later. But there's a lot to see." Apple (AAPL) shares spiked to session highs on Wednesday after Bloomberg reported the company is planning its artificial intelligence comeback, anchored by an ambitious lineup of new products that include household robots, a lifelike Siri, a smart speaker with a display, and home-security cameras. The stock later pared gains, trading about 1% higher in the late afternoon. Apple's AI ambitions have stumbled this year, with shares down about 7% even as most of its "Magnificent Seven" peers, aside from Tesla (TSLA), have surged. Analysts cite the company's lack of a clear AI strategy as the biggest disappointment. Ahead of Wednesday's report, Apple CEO Tim Cook hinted at the upcoming devices in an all-hands meeting earlier this month, telling employees, "The product pipeline — which I can't talk about — it's amazing, guys. It's amazing,' he said. 'Some of it you'll see soon. Some of it will come later. But there's a lot to see." Oil prices fall: Here's what's behind the declines Oil prices slipped on Wednesday as investors perceived the risk of an industry prices slipped on Wednesday as investors perceived the risk of an industry glut. Read more here. Oil prices slipped on Wednesday as investors perceived the risk of an industry prices slipped on Wednesday as investors perceived the risk of an industry glut. Read more here. Ethereum surges to near record as investors bet on 'biggest macro trade' of the next decade Yahoo Finance's Ines Ferré reports: Read more here. Yahoo Finance's Ines Ferré reports: Read more here. Trump's search to replace Fed Chair Powell continues as new report says up to 11 names under consideration The Trump administration is broadening its search for the next Federal Reserve chair, with reports suggesting as many as 11 candidates may be in the running to replace Jerome Powell when his term expires in May, Yahoo Finance's Jennifer Schonberger reports. Schonberger writes: Read the full story here. The Trump administration is broadening its search for the next Federal Reserve chair, with reports suggesting as many as 11 candidates may be in the running to replace Jerome Powell when his term expires in May, Yahoo Finance's Jennifer Schonberger reports. Schonberger writes: Read the full story here. CoreWeave stock plummets as AI cloud company reports 'deteriorating' operating income outlook CoreWeave (CRWV) stock plummeted 18% Wednesday after the AI data center company reported a disappointing quarterly outlook for its operating income. The company said the previous day that it expects its third quarter operating income to fall between $160 million and $190 million, below the $192 million expected by Wall Street analysts tracked by Bloomberg. At the same time, the company expects interest expense of $350 million to $390 million during that period. DA Davidson analyst Gil Luria told Yahoo Finance in an email Wednesday that "deteriorating operating income guidance highlights the main issue for CoreWeave - their interest expense is higher than their operating income which means they aren't generating enough profit to pay their debt holders." CoreWeave is one of the largest holders of Nvidia's (NVDA) AI chips and rents its data center capacity to Big Tech firms such as Microsoft (MSFT), Meta (META), and Google (GOOG) as they scramble to power their AI ambitions. CoreWeave stock's performance is closely watched as a metric of AI demand. CoreWeave (CRWV) stock plummeted 18% Wednesday after the AI data center company reported a disappointing quarterly outlook for its operating income. The company said the previous day that it expects its third quarter operating income to fall between $160 million and $190 million, below the $192 million expected by Wall Street analysts tracked by Bloomberg. At the same time, the company expects interest expense of $350 million to $390 million during that period. DA Davidson analyst Gil Luria told Yahoo Finance in an email Wednesday that "deteriorating operating income guidance highlights the main issue for CoreWeave - their interest expense is higher than their operating income which means they aren't generating enough profit to pay their debt holders." CoreWeave is one of the largest holders of Nvidia's (NVDA) AI chips and rents its data center capacity to Big Tech firms such as Microsoft (MSFT), Meta (META), and Google (GOOG) as they scramble to power their AI ambitions. CoreWeave stock's performance is closely watched as a metric of AI demand. Instacart, Kroger stocks under pressure after Amazon launches same-day grocery delivery Grocery stocks are under pressure, including Instacart (CART), Kroger (KR), Albertsons (ACI), and Sprouts Farmers Market (SFM), after Amazon (AMZN) announced same-day delivery for groceries. On Wednesday, the e-commerce giant said it would start offering same-day perishable grocery delivery in over 1,000 cities. Amazon plans to reach over 2,300 areas across the US by the end of 2025. The service is available for Prime members for free, only on orders over $25. It will cost $12.99 without the membership. In comparison, Instacart has additional service fees but a lower threshold of $10 or more per delivery order. Amazon stock is roughly flat, compared to the nearly 11% decline in Instacart shares and roughly 4% decline for Kroger, Albertsons, and Sprouts. Grocery stocks are under pressure, including Instacart (CART), Kroger (KR), Albertsons (ACI), and Sprouts Farmers Market (SFM), after Amazon (AMZN) announced same-day delivery for groceries. On Wednesday, the e-commerce giant said it would start offering same-day perishable grocery delivery in over 1,000 cities. Amazon plans to reach over 2,300 areas across the US by the end of 2025. The service is available for Prime members for free, only on orders over $25. It will cost $12.99 without the membership. In comparison, Instacart has additional service fees but a lower threshold of $10 or more per delivery order. Amazon stock is roughly flat, compared to the nearly 11% decline in Instacart shares and roughly 4% decline for Kroger, Albertsons, and Sprouts. Crypto exchange Bullish prices IPO at $37 per share, valuing company at $5 billion Cryptocurrency exchange operator Bullish (BLSH) is set to go public on Wednesday at a valuation north of $5 billion as the IPO market looks set to continue a strong summer. Yahoo Finance's Jake Conley reports: Read the full story here. Cryptocurrency exchange operator Bullish (BLSH) is set to go public on Wednesday at a valuation north of $5 billion as the IPO market looks set to continue a strong summer. Yahoo Finance's Jake Conley reports: Read the full story here. Stocks rise at the open US stocks moved higher on Wednesday after the open as expectations for Fed interest rate cuts rose. The tech-heavy Nasdaq Composite (^IXIC) and the Dow Jones Industrial Average (^DJI) rose more than 0.5%, while the benchmark S&P 500 (^GSPC) gained 0.4%. Within the S&P 500, the Consumer Discretionary Sector (XLY) was up 0.7%, while the Technology Sector (XLK) climbed more than 0.6%. US stocks moved higher on Wednesday after the open as expectations for Fed interest rate cuts rose. The tech-heavy Nasdaq Composite (^IXIC) and the Dow Jones Industrial Average (^DJI) rose more than 0.5%, while the benchmark S&P 500 (^GSPC) gained 0.4%. Within the S&P 500, the Consumer Discretionary Sector (XLY) was up 0.7%, while the Technology Sector (XLK) climbed more than 0.6%. Treasury yields fall after Bessent urges Fed to lower rates US Treasury yields fell on Wednesday as traders increased bets that the Federal Reserve would cut interest rates at its September meeting following a rise in core inflation. At the same time, Treasury Secretary Scott Bessent urged the Fed to cut interest rates by 150 basis points in an interview with Bloomberg on Wednesday, maintaining political pressure on the central bank. The 10-year Treasury yield (^TNX) fell 4 basis points to 4.25%, and the 30-year yield (^TYX) dropped to 4.84%. US Treasury yields fell on Wednesday as traders increased bets that the Federal Reserve would cut interest rates at its September meeting following a rise in core inflation. At the same time, Treasury Secretary Scott Bessent urged the Fed to cut interest rates by 150 basis points in an interview with Bloomberg on Wednesday, maintaining political pressure on the central bank. The 10-year Treasury yield (^TNX) fell 4 basis points to 4.25%, and the 30-year yield (^TYX) dropped to 4.84%. Tencent earnings, trade truce lift China tech stocks As my colleague Jenny McCall notes below, strong domestic liquidity in China and positive sentiment from the US trade truce have boosted Chinese stocks in recent months. On Wednesday, that rally continued in top Chinese stocks, as recent inflation data boosted hopes for US interest rate cuts and tech companies gained greater clarity around the sale of Nvidia and AMD chips in China. Tencent ( gained 4.7% after the WeChat parent company reported revenue growth of 15%, above estimates. The company is also accelerating AI research to keep up with the competition, which includes Alibaba (BABA), ByteDance, and US companies OpenAI and Anthropic. US-listed shares of e-commerce company Alibaba rose 3.6%, while (JD) added 2%. Baidu (BIDU) climbed 2.5%, and PDD Holdings (PDD) rose 1.9%. As my colleague Jenny McCall notes below, strong domestic liquidity in China and positive sentiment from the US trade truce have boosted Chinese stocks in recent months. On Wednesday, that rally continued in top Chinese stocks, as recent inflation data boosted hopes for US interest rate cuts and tech companies gained greater clarity around the sale of Nvidia and AMD chips in China. Tencent ( gained 4.7% after the WeChat parent company reported revenue growth of 15%, above estimates. The company is also accelerating AI research to keep up with the competition, which includes Alibaba (BABA), ByteDance, and US companies OpenAI and Anthropic. US-listed shares of e-commerce company Alibaba rose 3.6%, while (JD) added 2%. Baidu (BIDU) climbed 2.5%, and PDD Holdings (PDD) rose 1.9%. VIX fear gauge sinks to lowest level since December The VIX (^VIX) volatility index, a key fear gauge in markets, slipped to 14.49 on Wednesday morning, hitting its lowest level since late December 2024. Despite geopolitical tensions and lingering tariff uncertainty, there are a few reasons why markets are pricing in fewer swings. For one, investors are holding a lot of cash and buying assets at lower prices during sell-offs, according to Bloomberg. Second, the global economy appears to be holding up better than investors expected after President Trump unleashed "Liberation Day" tariffs in April. At that time, the VIX spiked to 52. Bloomberg reports: Read more here. The VIX (^VIX) volatility index, a key fear gauge in markets, slipped to 14.49 on Wednesday morning, hitting its lowest level since late December 2024. Despite geopolitical tensions and lingering tariff uncertainty, there are a few reasons why markets are pricing in fewer swings. For one, investors are holding a lot of cash and buying assets at lower prices during sell-offs, according to Bloomberg. Second, the global economy appears to be holding up better than investors expected after President Trump unleashed "Liberation Day" tariffs in April. At that time, the VIX spiked to 52. Bloomberg reports: Read more here. Good morning. Here's what's happening today. Economic data: MBA Mortgage Applications (week ending Aug. 8) Earnings: Brinker International (EAT), Cisco (CSCO), Red Robin (RRGB) Here are some of the biggest stories you may have missed overnight and early this morning: Earnings live: Cava stock tumbles and CoreWeave slides Crypto is having a breakout summer — and bitcoin isn't the reason US leads markets higher as world adapts to tariff policy Dutch Bros eyes expansion as Starbucks battle heats up Investors playing more defense even as stocks climb to new highs US 30-year mortgage rate falls, refi applications surge Market gauges of volatility are fading despite high uncertainty China's $11T stock market stages steady resurgence Economic data: MBA Mortgage Applications (week ending Aug. 8) Earnings: Brinker International (EAT), Cisco (CSCO), Red Robin (RRGB) Here are some of the biggest stories you may have missed overnight and early this morning: Earnings live: Cava stock tumbles and CoreWeave slides Crypto is having a breakout summer — and bitcoin isn't the reason US leads markets higher as world adapts to tariff policy Dutch Bros eyes expansion as Starbucks battle heats up Investors playing more defense even as stocks climb to new highs US 30-year mortgage rate falls, refi applications surge Market gauges of volatility are fading despite high uncertainty China's $11T stock market stages steady resurgence Bitcoin isn't the reason for crypto's breakout summer The crypto world has had room to run this year amid a series of legislative wins and new financial initiatives. But notably, the big news items don't really involve bitcoin (BTC-USD), Yahoo Finance's Hamza Shaban notes in today's Morning Brief. Hamza writes: The crypto world has had room to run this year amid a series of legislative wins and new financial initiatives. But notably, the big news items don't really involve bitcoin (BTC-USD), Yahoo Finance's Hamza Shaban notes in today's Morning Brief. Hamza writes: Japan's Nikkei hits all-time high The Nikkei 225, the primary index for the Tokyo Stock Exchange, is trading at all-time highs amid optimism that confusion over the recent US-Japan trade agreement is being addressed in addition to the renewed strength in Big Tech. Domestically, Japan's key auto industry is cautiously optimistic that the the positive will outweigh any drag coming from tariffs. "The Nikkei was not able to hit a record until today because chip-related shares and auto shares dragged on the index," Takamasa Ikeda, senior portfolio manager at GCI Asset Management, told Reuters. The Nikkei 225, the primary index for the Tokyo Stock Exchange, is trading at all-time highs amid optimism that confusion over the recent US-Japan trade agreement is being addressed in addition to the renewed strength in Big Tech. Domestically, Japan's key auto industry is cautiously optimistic that the the positive will outweigh any drag coming from tariffs. "The Nikkei was not able to hit a record until today because chip-related shares and auto shares dragged on the index," Takamasa Ikeda, senior portfolio manager at GCI Asset Management, told Reuters. China's $11 trillion stock market stages steady resurgence Chinese stocks have risen in recent months, helped by strong domestic liquidity and despite a lack of major catalysts. Bloomberg News reports: Read more here. Chinese stocks have risen in recent months, helped by strong domestic liquidity and despite a lack of major catalysts. Bloomberg News reports: Read more here. The best points I have heard this morning on CoreWeave CoreWeave (CRWV) was teed up to let down investors last night. And it did on several fronts. First, the company's net loss was much higher than consensus. Second, capital expenditures were a whopping $1 billion higher sequentially. And third, capex may climb another $500 million in the current quarter. While I appreciate the company's revenue backlog of $30.1 billion doubled year over year, the company's mixed results and high debt load are real causes for concern. Hence, the sharp pre-market pullback. Here are two important call outs this morning from DA Davidson analyst Gil Luria: CoreWeave (CRWV) was teed up to let down investors last night. And it did on several fronts. First, the company's net loss was much higher than consensus. Second, capital expenditures were a whopping $1 billion higher sequentially. And third, capex may climb another $500 million in the current quarter. While I appreciate the company's revenue backlog of $30.1 billion doubled year over year, the company's mixed results and high debt load are real causes for concern. Hence, the sharp pre-market pullback. Here are two important call outs this morning from DA Davidson analyst Gil Luria: Cava crashing Cava (CAVA) is getting run over premarket to the tune of 23%. Bottom line on this one: When you are valued as a high-growth stock and you don't deliver high growth, your stock will take a beating. Same restaurant sales only rose 2.1%. The company slashed its full-year same-restaurant sales guidance. The earnings call wasn't exactly alarming — the company appears to still be structurally sound. But a slower economy and increased competition is weighing on the brand's results. We heard the same exact tone at Chipotle (CMG) and Starbucks (SBUX) this earnings season. The positive here: Cava is testing salmon for its menu. Who doesn't like salmon in a $15+ salad bowl?! Cava (CAVA) is getting run over premarket to the tune of 23%. Bottom line on this one: When you are valued as a high-growth stock and you don't deliver high growth, your stock will take a beating. Same restaurant sales only rose 2.1%. The company slashed its full-year same-restaurant sales guidance. The earnings call wasn't exactly alarming — the company appears to still be structurally sound. But a slower economy and increased competition is weighing on the brand's results. We heard the same exact tone at Chipotle (CMG) and Starbucks (SBUX) this earnings season. The positive here: Cava is testing salmon for its menu. Who doesn't like salmon in a $15+ salad bowl?! 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Yahoo
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dLocal announces appointment of Chief Financial Officer
MONTEVIDEO, Uruguay, Aug. 13, 2025 (GLOBE NEWSWIRE) -- DLocal Limited ('dLocal', 'we', 'us', and 'our') (NASDAQ:DLO), a technology - first payments platform, today announced the appointment of Guillermo López Pérez as Chief Financial Officer, who will join us in the next few months. Guillermo will report to dLocal's CEO, Pedro Arnt. This appointment further strengthens dLocal's outstanding leadership team. 'We are very excited to welcome Guillermo as our new CFO," said Pedro Arnt, CEO of dLocal. "He brings a unique combination of experience in managing large-scale financial organizations while also successfully scaling fintech companies during his last two positions. His deep industry knowledge and proven track record make him an exceptional addition to our team as we continue to drive growth and innovation at dLocal.' With over 25 years of experience, Guillermo has developed his career in Finance and Payments at leading companies such as Visa and American Express. He is currently Chief Financial Officer at Featurespace, a machine learning platform focused on fraud prevention, and was previously at Tink, a European Open Banking leader. His expertise also includes serving as CFO for Visa's Continental Europe business and holding various leadership positions during his 13-year tenure at American Express. 'I am excited to join dLocal and contribute to the company's growth in emerging markets. I look forward to working with the team to strengthen our position in the cross-border payments sector,' stated Guillermo. 'We look forward to working closely with him to drive growth, enhance operational excellence, and deliver long-term value to our stakeholders,' added Pedro Arnt. This appointment reflects dLocal's commitment to strong governance and to harnessing diverse perspectives in shaping and advancing its growth strategies. 'We also would like to express our huge appreciation to Jeffrey Brown for his service as interim CFO. He will continue in his previous role as VP of Finance,' concluded the CEO. About dLocal dLocal powers local payments in emerging markets, connecting global enterprise merchants with billions of emerging market consumers in more than 40 countries across Africa, Asia, and Latin America. Through the 'One dLocal' platform (one direct API, one platform, and one contract), global companies can accept payments, send pay-outs and settle funds globally without the need to manage separate pay-in and pay-out processors, set up numerous local entities, and integrate multiple acquirers and payment methods in each market. Forward Looking Statements This announcement contains certain forward-looking statements. These forward-looking statements convey our current expectations or forecasts of future events. Forward-looking statements regarding DLocal involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in our filings with the U.S. Securities and Exchange Commission. Unless required by law, we undertake no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date hereof. Investor Relations Contact:investor@ Media Contact:media@
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Violent crime doesn't worry me. Trump is just mad he has to see homeless people.
In my daily life, the types of crime I'm concerned about are scams, fraud, cybercrime and hate crimes. We live in a pretty safe town. We are a beach community of about 100,000 people. Does that mean I would let my 15-year-old walk home at night by themselves? No. Would I not lock my doors and my vehicle? No. It is just common sense. Despite President Donald Trump saying his actions were meant to "rescue our nation's capital from crime," I don't think violent crime in Washington, DC, is as big of an issue as he's making it. As for Trump specifically, I don't think a convicted felon should be president. What type of crime concerns you? Share your thoughts here. | Opinion Forum Another view: Trump's order on homelessness is more humane than failed liberal policies | Opinion I don't live in Washington, so I can't say how residents feel about their safety. I would imagine that it's got more crime than my community simply for the size of it and the fact that so many people come and go, but I honestly don't think it's bedlam and mayhem in the streets. Trump is just mad because he sees homeless people on his way to the golf course. If he truly cared about homelessness and bedlam in the streets, he would be funding housing and programs to help with addiction and mental health – not bringing in the National Guard and relocating unhoused people. I'm not worried about violent crime in America. You just have to know your surroundings and use common sense. — Martha Payne, Ventura, California This piece was submitted as part of USA TODAY's Forum, a new space for conversation. See what we're talking about at and share your perspective at forum@ Do you want to take part in our next Forum? Join the conversation by emailing forum@ can also follow us on X, formerly Twitter, @usatodayopinion and sign up for our Opinion newsletter to stay updated on future Forum posts. This article originally appeared on USA TODAY: DC bedlam? The real problem is Trump, a convicted felon | Opinion
