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Market Headlines 👀 

• US Personal Consumption Expenditures (PCE) rose +0.3% MoM in line with expectations.

• US Securities and Exchange Commission (SEC) announces ‘project crypto’ to better modernize rules around crypto trading.

• US weekly jobless claims come in at 218k; est 224k.

• US President Trump extends Mexico tariffs for another 90 days.

• Apple (AAPL) reports biggest revenue growth since December 2021.

• Microsoft (MSFT) shares top $4t market cap for the first time ever, after the positive earnings yesterday.

• Figma (FIG) shares more than triple after its oversubscribed IPO hit the markets today on NYSE.

Earnings 💸

• Apple (AAPL)

  • EPS: $1.57 beats (exp. $1.42)

  • Revenue: $94b beats (exp. $88.9b)

• Amazon (AMZN)

  • EPS: $1.68 beats (exp. $1.32)

  • Revenue: $167.7b beats (exp. $162.2b)

• Coinbase (COIN)

  • EPS: $5.14 beats (exp. $1.51)

  • Revenue: $1.49b misses (exp. $1.59b)

• Cloudfare (NET)

  • EPS: $0.21 beats (exp. $0.18)

  • Revenue: $512m beats (exp. $502m)

• Reddit (RDDT)

  • EPS: $0.48 beats (exp. $0.19)

  • Revenue: $499.6m beats (exp. $425.8m)

• Mastercard (MA)

  • EPS: $4.15 beats (exp. $4.03)

  • Revenue: $8.13b beats (exp. $7.93b)

A note from Pacaso 📣

From Italy to a Nasdaq Reservation

How do you follow record-setting success? Get stronger. Take Pacaso. Their real estate co-ownership tech set records in Paris and London in 2024. No surprise. Coldwell Banker says 40% of wealthy Americans plan to buy abroad within a year. So adding 10+ new international destinations, including three in Italy, is big. They even reserved the Nasdaq ticker PCSO.

Invest for $2.90/Share

_{Paid advertisement for Pacaso’s Regulation A offering. Read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals.}

S&P 500 Heatmap 🔥 

Recap Around the Street 🧠

Amazon earnings snapshot (contributed by Brad Freeman @Stockmarketnerd):

Meta Platforms earnings snapshot (contributed by Brad Freeman @Stockmarketnerd):

Market Preview 🎞️ 

• Friday, August 1st: Non-farm payrolls; Unemployment rate

• Friday earnings: Exxon Mobil (XOM)

Enjoy reading?👇

That’s all for this week, folks! We’ll be back around the same time Monday with a curated list of important news, economic data and market highlights. 

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