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Good morning investors! Indexes posted biggest daily pct gains since May 27 in rebound from selloff yesterday.
Today we cover:
The upcoming rate cut?
Palantir shines
Economy data
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📊 Economy and News
U.S. Job Market Softens, Boosts Case for Fed Rate Cuts in September
A weaker-than-expected U.S. jobs report for July, with only 73,000 jobs added and significant downward revisions for May and June, has heightened expectations for Federal Reserve interest rate cuts at its September 16-17, 2025 meeting.
The unemployment rate edged up to 4.2%, signaling a softening labor market, though not yet precarious. Markets now see an 80% chance of a quarter-point rate cut, per CME’s FedWatch Tool.
Bank of America Securities, led by Aditya Bhave, maintains its forecast that the Fed will hold rates at 4.25%-4.5% in 2025, citing persistent inflation above the Fed’s 2% target and robust wage growth despite immigration-related labor supply constraints. However, they acknowledge a rising risk of "bad cuts" if labor market weakness worsens.
San Francisco Fed President Mary Daly indicated that the time for rate cuts is nearing, with two quarter-point cuts still appropriate but potentially more if labor conditions deteriorate further without tariff-driven inflation spikes. Nomura analysts argue the jobs data strengthens the case for a September cut unless economic data improves significantly.
Global hits:
Trump says he will ‘substantially’ raise tariffs on India over Russian oil purchases. Elsewhere, EU will delay planned U.S. tariffs for six months to allow for trade talks.
Mexico’s headline inflation seen easing in July, core inflation still above target.
Japan panel proposes 6% minimum wage hike to counter inflation woes.
Check this: The daily average mortgage rate dropped to 6.57% on Monday, marking the lowest level in 10 months.
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📈 Stocks
S&P 500 6,329.94 (+1.47%)
DJIA 44,173.64 (+1.34%)
NASDAQ 21,053.58 (+1.95%)
BRENT CRUDE 68.76 (-1.32%)
* Prices as of Aug 7th, 12:20 AM UTC
Palantir Surpasses $1 Billion in Revenue, Boosts Guidance
Palantir reported $1 billion in quarterly revenue for the first time, exceeding Wall Street’s $940 million estimate, with a 48% revenue growth driven by the AI boom.
The company raised its full-year revenue forecast to $4.142-$4.150 billion, up from $3.89-$3.90 billion, and projected third-quarter revenue of $1.083-$1.087 billion, beating estimates of $983 million.
U.S. revenues surged 68% to $733 million, with commercial revenues nearly doubling to $306 million and government revenues up 53% to $426 million.
Net income rose 144% to $326.7 million. Shares rallied over 5%, with the stock trading at 276 times forward earnings.
Exciting: Firefly Aerospace lifts IPO range that would value company at more than $6 billion. Also, OpenAI’s ChatGPT to hit 700 million weekly users, up 4x from last year.
American Eagle surge 20% after Trump calls Sydney Sweeney campaign ‘hottest ad out there’.
Baidu plans to expand its robotaxis to Europe with Lyft deal.
Lastly, BP makes its biggest oil and natural gas discovery in 25 years as it refocuses on fossil fuels.
Musk’s pay: Tesla’s board awarded CEO Elon Musk an interim pay package of 96 million shares of the company. The company said in a filing that the pay package would vest in two years as long as Musk continued as CEO or in another key executive position. A legal battle over Musk’s $56 billion 2018 CEO pay package is before the Delaware Supreme Court.
That gotta hurt: Figma’s stock sank 27% after last week’s IPO pop.
Hims & Hers Health shares fell -10% in extended trading after the company reported second-quarter results that missed Wall Street’s expectations for revenue.
Lastly, Boeing’s second strike in less than a year began at three defense plants.
💵 Personal Finance
Risks of Staying in SAVE Payment Pause and Better Options for Borrowers
Federal student loan borrowers in the Biden-era SAVE plan can pause payments, but as of Aug. 1, 2025, the Trump administration resumed charging interest, causing balances to grow. Here’s what to expect and what to do instead:
Growing Debt: Interest accrual could add $219 monthly to a typical $39,000 loan at 6.7%, deepening debt if no payments are made.
Halted Forgiveness Progress: Staying in SAVE forbearance pauses progress toward loan forgiveness, including Public Service Loan Forgiveness.
Forced Plan Switch: The Department of Education may move borrowers to the Repayment Assistance Plan (RAP) by July 2028, but the Trump administration could enforce an earlier switch.
What to Do: Experts recommend switching to the Income-Based Repayment (IBR) plan, which caps payments based on income and progresses toward forgiveness. Online tools can estimate payments. Some borrowers may prioritize high-interest debts (e.g., 20% credit card rates) during the pause.
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