
U.S. Services-Sector Activity Continued to Expand in July
The Institute for Supply Management's purchasing managers index for services providers was 54.1 in July compared with 54 in June.
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The Institute for Supply Management's purchasing managers index for services providers was 54.1 in July compared with 54 in June.

U.S. natural gas futures inched up in early trading.

The S&P 500 Index soared on Tuesday (Aug. 4) to a record high, exceeding the previous peak (set in early June) by a wide margin. Year-to-date, energy is still holding the top spot, based on a set of ETFs through the day's close.

The Trump administration said it has refunded about $100 billion of the tariff revenue that was collected through President Donald Trump's 2025 "liberation day" duties. The Supreme Court scrapped those IEEPA tariffs, and a federal judge ordered that the money must be refunded.

Palantir's AIS platform enables sovereign AI adoption, that's when enterprises take full control of their AI adoption, and that's bad news for hyperscalers and OpenAI/Anthropic. Falling token prices due to the sovereign AI adoption support the AI bubble burst thesis.

Wall Street bonuses are projected to rise 10% to 15% or more for investment and commercial bankers as their results outpace other sectors of finance. Katherine Doherty reports on "Bloomberg Open Interest.

Ariana Salvatore, head of US public policy strategy at Morgan Stanley, says a win by progressive Abdul El-Sayed in the Democratic US Senate primary in Michigan “makes it really challenging as a general election seat for Democrats to flip,” and looks at how the US economy plays into the midterm elections. -------- More on Bloomberg Television and Markets Like this video?

The largest part of the economy grew in July at a robust pace, but scattered shortages of key supplies and dogged inflation raised the cost of business and companies responded by keeping a lid on hiring.

Record back-to-school spending is expected, with higher electronics prices and resilient household demand shaping the retail landscape. A wave of major consumer earnings reports and fresh retail sales data will offer investors key insights into household spending trends.

Gartner, Inc. reported Q2 earnings that beat consensus, driving a 23% share price surge despite only modest top-line growth. IT's margin profile improved significantly due to divestitures, higher-margin conference revenue, and cost discipline, with non-GAAP EPS beating by $0.64. Management raised FY26 profitability guidance and expanded share repurchase authorization by $500M, supporting near-term capital returns.

During the quarter, we initiated new Garden positions in Virtu Financial, Murphy USA and USA Rare Earth. In addition to Lattice Semiconductor, Virtu Financial and Murphy USA, we added to our position in SiTime during the quarter. We ended our investment campaigns in Colliers International and Waystar and moved Flex to Harvest during the quarter.

The Treasury on Wednesday said it will not change the amount of notes and bonds for sale for at least the next several quarters, in keeping with Wall Street's expectations.

Retired Lieutenant General Karen Gibson, a former deputy director of national intelligence for national security partnerships, says the newly disclosed incidents involving OpenAI models show that a proposed federal review framework for advanced AI systems may need to be mandatory. Gibson also discusses reports of depleted US munitions stockpiles, arguing that Iran believes time is on its side and that it can make the conflict politically, militarily and economically intolerable for Washington.

Fusion energy developer TAE Technologies, which has agreed to be acquired by Trump Media & Technology Group , said on Wednesday it had signed an agreement with privately held Black Moon Energy that could provide a future helium-3 fuel supply option for its planned power plants.

Sagimet Biosciences is a catalyst-driven biotech, with value anchored to the upcoming U.S. Phase 3 denifanstat acne trial. SGMT's recent $175M equity raise extends cash runway through 2028, de-risking near-term financing and supporting Phase 3 execution. The U.S. Phase 3 trial aims to replicate strong China data, targeting best-in-class oral efficacy and safety in moderate-to-severe acne.