Financial Summary: Friday, August 8, 2025

Tesla's key chip technology figure, Pete Bannon, is leaving the company, raising concerns about the future of their Dojo supercomputer project.

Texas Roadhouse shares fell over 1% due to mixed earnings reports and rising beef prices affecting the restaurant sector.

A California jury found Meta guilty of violating privacy laws related to data collection from the Flo period-tracking app.

SoftBank Group shares surged 13% to a record high after reporting quarterly profits that exceeded market expectations.

Tata Motors reported a 63% year-on-year drop in consolidated profit to Rs 3,924 crore, although it exceeded market expectations.

Accenture is backing Snorkel AI to enhance AI capabilities for businesses, starting with the finance sector.

The Trade Desk's stock plummets 39% following the departure of its CFO and concerns over competition from Amazon.

Bed Bath & Beyond has relaunched with its first store in Nashville, planning to open dozens more by 2026 after bankruptcy.

The U.S. has imposed tariffs on one-kilo gold bars from Switzerland, raising concerns in the global bullion market.

Israel's security cabinet has approved a plan to reoccupy all of Gaza, moving away from ceasefire negotiations.

Washington's deadline for Moscow to agree to a ceasefire in Ukraine is approaching, potentially leading to new tariffs on Russia's trade partners.

President Trump is using tariffs as a diplomatic tool, linking trade policy with geopolitical strategies.

Trump announces ongoing discussions for a potential 'swapping of territories' in the Ukraine war, confirming plans to meet with Putin.

Ukrainian bonds see a rally as investors anticipate positive outcomes from the upcoming Trump-Putin talks.

The White House plans to clarify tariffs on gold bars following a surge in prices after reports of US levies on imports.

Trump hosts a peace summit with leaders from Armenia and Azerbaijan, aiming to foster stability in the region.

OpenAI has launched GPT-5, with CEO Sam Altman actively seeking investment opportunities despite anticipated losses.

Elon Musk has announced the discontinuation of the Tesla Dojo supercomputer to focus on new chip development.

Instagram's new map feature is facing backlash due to privacy concerns over geolocation data.

Vertiv has launched OneCore to enhance the development of AI-ready data centers.

CrowdStrike has introduced AI security services aimed at improving Security Operations Centers (SOCs).

Hewlett Packard Enterprise (HPE) has unveiled new AI-powered cybersecurity tools following its acquisition of Juniper.

A Kraken executive announced that tokenized stocks will enable users to make everyday purchases with shares.

Tech companies are competing in AI-driven advertising, with ad revenue remaining strong despite economic challenges.

India's general insurance sector grew by 2.8% in July, largely due to increased demand for health insurance.

The Reserve Bank of India has set a 15-day deadline for banks to settle death claims, imposing penalties for delays.

Moody's has raised concerns about India's economic growth ambitions, citing potential risks to its outlook.

India's exports are under pressure as the US plans to impose a 50% tariff on certain goods, affecting trade relations.

The ongoing monsoon and strict lending policies are contributing to a slowdown in vehicle market sales in India.

Japanese stocks reached a record high, fueled by strong earnings from major companies like SoftBank and Sony.

The S&P 500 dipped slightly while the Nasdaq hit a record high, supported by positive U.S. stock futures.

Gold prices surged to an all-time high amid trade tariff uncertainties and increased central bank buying.

Indian markets closed positively, bolstered by strong domestic earnings and a strengthening Rupee.

European shares are on track for their biggest weekly gain in 12 weeks, reacting positively to U.S. Federal Reserve developments.

U.S. stocks opened higher as President Trump's Fed nominee raised expectations for a more dovish monetary policy.

The dollar weakened following President Trump's nomination for a Federal Reserve governor, impacting currency markets.

Tech ETFs, including QQQ, reached new highs despite ongoing trade tensions, showcasing resilience in the technology sector.

The US high-grade corporate bond market saw its largest inflows since 2020, indicating continued investor confidence amid economic slowdown signs.

Portland General Electric has launched 475MW of battery storage, boosting its renewable energy capacity.

New Jersey is experiencing rising electricity prices, prompting scrutiny of Governor Phil Murphy's energy policies ahead of elections.