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Good morning investors! Stocks hit new highs yesterday as greed continues to rule the market.
Fun fact: A one percent move on the S&P 500 is about 65 index points at current levels.
Today we cover:
Upcoming rate cut?
Cisco beats
Saving money on grocery
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📊 Economy and News
Rate Drop Frenzy: Markets Eye September Cut as Mortgage Apps Soar
With the average 30-year mortgage rate dipping to 6.67%—its lowest since April—refinancing surged 10.9%, though new homebuyer demand remained sluggish.
Meanwhile, traders now see a 99% chance the Fed will cut rates at its September meeting, possibly by 25 or even 50 basis points, amid political pressure and soft job data. Fed officials urge caution, but markets are already betting on easing.
Interestingly, Atlanta Federal Reserve President Raphael Bostic said a U.S. job market holding near full employment offers the central bank the "luxury" of being able to avoid rushing to make any policy adjustments.
Global hits:
US appeals court lets Trump cut billions in foreign aid.
Russia’s GDP growth slows to 1.1% in Q2.
Global oil market looks ‘bloated’ amid lackluster demand from major economies.
Good to know: US alcohol consumption at record low as health concerns rise. Similarly, demand for healthy drinks is increasing and the functional beverage market is projected to reach $339.6 billion by 2030.
Other problems are also there. After defying industry trends, chains like Chipotle and Cava are now feeling the pinch as consumers grow more cautious. Restaurant execs cite economic uncertainty, and investors are also cooling on the fast-casual sector.
Pharma tariffs? The administration is preparing to impose tariffs on certain pharmaceutical imports within weeks. The move would add a fresh policy variable for healthcare supply chains and drugmakers with global footprints.
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📈 Stocks
S&P 500 6,466.58 (+0.32%)
DJIA 44,922.27 (+1.04%)
NASDAQ 21,713.14 (+0.14%)
BRENT CRUDE 65.63 (-0.74%)
* Prices as of Aug 14th, 12:20 AM UTC
Cisco Beats Earnings, Surges on AI Momentum
Cisco delivered a narrow earnings beat in its fiscal Q4 and issued an in-line outlook for the year, driven by growing demand for AI infrastructure from major tech firms.
EPS: $0.99 adjusted (vs. $0.98 expected)
Revenue: $14.67B (vs. $14.62B expected)
Net income: $2.82B, up from $2.16B YoY
Networking revenue: $7.63B (+12%)
Security revenue: $1.95B (below est. $2.11B)
Full year EPS forecast: $4.00–$4.06 (vs. $4.03 expected)
Full year revenue forecast: $59B–$60B (vs. $59.53B expected)
CEO Chuck Robbins highlighted $2B in AI-related orders in fiscal 2025—double the target—including $800M in Q4. Over $1B was tied to back-end infrastructure for GPUs. Cisco also joined AI initiatives with Microsoft, BlackRock, and OpenAI in the Middle East.
Wall Street Braces for Tariff-Driven Inflation
Goldman Sachs is under fire for warning of rising consumer inflation due to new tariffs, but many on Wall Street share the view.
Analysts expect steady price increases, with tariffs effectively adding around 18%. While runaway inflation isn’t forecasted, monthly gains of 0.3%–0.5% could lift core inflation into the low-to-mid 3% range — keeping pressure on the Fed.
Exciting: Crypto exchange Bullish, which owns CoinDesk, valued at nearly $13.2 billion in blowout NYSE debut. IPOs have been a hit in 2025 with 133 companies worth over $50 million going public so far – a jump of 58%.
Also, Sam Altman said GPT-5 will have a “warmer” conversational style compared with GPT-4, adding a user-controllable personality slider.
Lastly, Amazon will now start same-day grocery delivery, giving competition to the likes of Walmart.
Just in: Apple is working on a tabletop robot with a movable screen and upgraded Siri, targeting a 2027 launch as part of its AI comeback.
And, OpenAI, which is interested in Chrome, could top Perplexity’s $34.5B bid for Chrome if Google is required to sell the browser. We’ll have a clear picture in a few months.
💵 Personal Finance
How to Beat Rising Grocery Prices
The cost of food at home rose 2.2% in July compared to a year ago. A recent AP-NORC poll found that over half of U.S. adults say grocery prices are their biggest source of financial stress — more than gas, rent, or debt.
“People aren’t just grabbing items off the shelves anymore, as they’re now very conscious. Here’s what you can do to save money on groceries:
🥩 1. Buy on Sale & Freeze
Items like meat and fresh produce often go on short-term sale. Buy in bulk during discounts and freeze for future use. This habit picked up during the pandemic and remains a strong money-saver.
USDA recommends freezing food at 0°F for long-term storage.
💸 2. Use Digital Coupons
Most grocery stores now offer special deals through their apps. These include point systems that can earn rewards like free coffee or ice cream. According to the Food Industry Association, 54% of online shoppers use store apps for discounts.
🏷️ 3. Buy Store Brands
Private-label products can cost significantly less than national brands. Chains like Walmart, Kroger, and Stew Leonard’s report a strong increase in demand for store-brand items.
🍎 4. Cut Your Own Produce
Pre-sliced fruits and vegetables may be convenient, but they cost more. Buying whole produce and preparing it at home can lead to substantial savings. Moreover, if you can then consider growing your own produce.
💰 Be a Better Investor
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👩🏽⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.