It’s been an eventful week, with significant developments in the tech, finance, and political sectors. Here’s a quick roundup of the top stories that made headlines.
Beijing’s Determination To Counter U.S. Restrictions
Alibaba Group Holding Ltd (NYSE:BABA) has introduced a new AI chip, a move that challenges the U.S.-China tech rivalry. This chip aims to reduce China’s reliance on Nvidia Corp (NASDAQ:NVDA), a company that has been affected by U.S. export restrictions. Alibaba’s new chip highlights Beijing’s determination to counter these restrictions with homegrown technology.
Powell’s Rate Cut Plans Not Supported By The Bond Market
The Federal Reserve is considering a rate cut in September, but the bond market is not showing much enthusiasm. Macro strategist Jim Bianco, president of Bianco Research, has noted that the long end of the yield curve, particularly long-dated Treasuries, is not supportive of these rate cuts. Despite Fed Chair Jerome Powell‘s dovish pivot, the bond market, particularly the 30-year Treasury yield, has remained largely unaffected.
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Trump Administration’s Investment Strategy: What’s Next After Intel?
The Trump administration’s investment in Intel Corp (NASDAQ:INTC) could be a model for securing strategically vital industries. The White House is actively seeking additional opportunities to apply the “Intel model” to other sectors deemed essential to national security and U.S. economic resilience.
Defense Stocks Surge As Trump Administration Considers Buying Into Major Contractors
The Trump administration is contemplating acquiring ownership stakes in major defense contractors, similar to its recent move with Intel Corp. Commerce Secretary Howard Lutnick suggested that the government should consider taking partial ownership of companies like Palantir Technologies Inc (NASDAQ:PLTR) or Boeing Co (NYSE:BA).
Cracker Barrel’s Logo Backlash Leads To Boardroom Drama And CEO Exit Bets
Cracker Barrel Old Country Store Inc (NASDAQ:CBRL) witnessed a drop in its shares following a company logo rebrand. The company’s statement on the logo change, coupled with the pressure on a Board of Directors member and predictions of the CEO leaving, has added to the ongoing controversy.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
