Dow, S&P 500, Nasdaq futures rise as Fed rate cut bets surge after inflation data

🤖 Big Tech is driving the stock market to new records

The S&P 500 hit another record close on Tuesday and ended the trading day above 6,400 for the first time ever.

As has been the case for much of the bull market that started in October 2022, large-cap technology stocks are driving the market's latest leg higher.

This was on full display Tuesday with Meta and Palantir rising more than 2% to close at record highs.

Meta stock rose 0.3% in premarket trading on Wednesday and Palantir climbed 0.7%. Yahoo Finance reports.


🤖 Microsoft lures Meta's talent pool with multimillion-dollar pay packages as the AI war heats up:

According to internal documents obtained by Benzinga’s Business Insider, Microsoft has identified its most-wanted Meta AI engineers and is implementing a new, highly competitive hiring process.

This initiative aims to match Meta's lucrative compensation packages, including multimillion-dollar signing bonuses, to attract and retain elite AI talent.

The tech giant's AI divisions, including Microsoft AI, led by former Google DeepMind co-founder Mustafa Suleyman and CoreAI, overseen by ex-Meta engineering head Jay Parikh, are spearheading this recruiting effort. Benzinga reports.


📊 Cava stock plummets after company lowers forecast on disappointing same-store sales growth:

Cava on Tuesday lowered its full-year forecast for same-store sales growth after a disappointing second quarter.

For the full year, Cava now anticipates same-store sales growth of 4% to 6%, down from its prior range of 6% to 8%.

Shares of the company plunged more than 20% in extended trading. The stock has fallen 40% this year, including the after-hours move. CNBC reports.


🛸 Elon Musk's Starlink rival AST SpaceMobile preparing to deploy over 60 satellites into orbit by 2026 for broadband internet service:

Satellite designer AST SpaceMobile said it’s preparing to deploy nearly five dozen satellites to power cellular-based broadband networks, a move that establishes the company as a rival to Elon Musk’s dominant SpaceX.

The company, based in Texas, released its second-quarter earnings after the bell on Monday, reporting that its satellites are fully funded and preparing for deployment with more than $1.5 billion on its balance sheet.

Shares of the space company surged more than 10% on the news on Tuesday. The stock is up more than 140% year to date in what’s been a boom for space broadband technology. CNBC reports.


✈️ Spirit Airlines warns it might not be able to survive without more cash:

Spirit Airlines has warned it might not be able to survive as a going concern if it doesn’t raise more cash, five months after the budget travel icon emerged from bankruptcy.

After cutting its debt during restructuring, Spirit has tried to attract bookings by marketing more upscale products and looking for new ways to lower costs. Late last month, the airline announced plans to furlough 270 more pilots this fall.

“However, the Company has continued to be affected by adverse market conditions, including elevated domestic capacity and continued weak demand for domestic leisure travel in the second quarter of 2025, resulting in a challenging pricing environment,” the company said in its quarterly report late Monday. CNBC reports.


👩‍💻 Quantum computing could be commercial real estate’s next big tailwind:

Just as artificial intelligence turned the data center sector into a gold mine, quantum computing is already ramping up to its own real estate revolution.

Quantum computing uses quantum mechanics to solve problems beyond the ability of the most powerful classical computers. Until now, these super computers have mostly lived at academic or government facilities, because they have had limited practical applications. That’s also why investment in quantum has lagged AI by about a decade.

But quantum computing is suddenly now advancing quickly and becoming commercially viable. As a result, it now needs its own real estate. A new report from JLL says significant real estate implications are “on the horizon.”

“There’s going to be a defined point in time where we’ve reached commercialization of the technology, where there’s commercial utility, and at that point we see a significant ramp taking place to the scale of like what we saw with artificial intelligence,” said Andrew Batson, head of data center research at JLL. Yahoo Finance reports.

“Throughout my financial career, I have continually witnessed examples of other people that I have known being ruined by a failure to respect risk. If you don’t take a hard look at risk, it will take you.”

- Larry Hite

Sourced in: “The Rule: How I Beat the Odds in the Markets and in Life—and How You Can Too”, by Larry Hite, published in 2020.

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