Important News:
1. Powell will deliver a highly anticipated speech on the economic outlook on Tuesday (00:35 Beijing time on Wednesday).
2. The U.S. current account deficit was -$251.3 billion in the second quarter, the smallest since the third quarter of 2023.
3. Fed's Goolsbee: The neutral interest rate is 100-125 basis points below the current rate. At this point, I am not considering a 50 basis point rate cut.
Stock News:
1. UBS (UBS.N) will pay 835 million euros to settle a French tax evasion case.
2. Boeing (BA.N): Uzbekistan Airways orders up to 22 Boeing 787 Dreamliners.
3. South Korean biopharmaceutical company Celltrion spends $330 million to acquire Eli Lilly's (LLY.N) production facilities.
4. Meta Platforms (META.O): It is taking a step-by-step approach to expanding access to LLaMA. 5. Kingsoft Cloud (KC.O) plans to issue 282 million shares, with the company planning to use the majority of the proceeds to support its artificial intelligence business.
6. Nvidia (NVDA.O), with a market capitalization approaching $4.5 trillion, announced that its $100 billion agreement with OpenAI will not affect the interests of other clients.
7. Tylenol manufacturer Kenvoe (KVUE.N) rose 6% in pre-market trading. Trump claimed a link between autism and Tylenol, but the World Health Organization responded that no consistent evidence has been found.
8. According to the Financial Times, the European Union will investigate whether Apple (AAPL.O), Google (GOOG.O), and Microsoft (MSFT.O) have failed to adequately regulate online financial fraud.
