Inflation Data Looms, Tesla’s Europe Sales Collapse, and Pure Storage Rockets 32%
In today’s episode, July inflation data takes center stage with economists expecting overall prices to hold at 2.6% but core inflation to tick up to 2.9%, the Fed’s last major data point before September’s policy meeting. Tech stocks took a hit as Dell and Marvell both fell on weaker guidance, underscoring margin and demand pressures. YouTube TV and Fox reached a carriage deal just in time for college football’s biggest weekend, avoiding a blackout for millions of viewers. Pure Storage rocketed 32% after landing a massive deal with Meta, while Tesla’s European sales fell 40% for a seventh straight month as BYD’s registrations soared. Nvidia revealed that just two customers now account for 39% of its revenue, raising concentration risks, and Microsoft is testing its own AI model to lessen dependence on OpenAI as their uneasy partnership evolves.
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