The Daily

Applications for U.S. unemployment benefits fell last week to an almost 60-year low, adding to signs of a stable labor market that will allow the Federal Reserve to focus on inflation.

Meanwhile, the European Central Bank rejected an immediate move to raise interest rates and President Christine Lagarde laid the groundwork for a possible rate hike in September.

 » Read more about: Global economy gets a lift as AI chip boom meets low U.S. jobless claims  »

In the latest trading session, Energy Transfer LP (ET) closed at $19.91, marking a -2.23% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.02% for the day. At the same time, the Dow added 0.51%, and the tech-heavy Nasdaq lost 0.18%.

Coming into today,

 » Read more about: Energy Transfer LP (ET) Stock Sinks As Market Gains: What You Should Know  »

 » Read more about: Ranger Energy (RNGR) Q2 Earnings and Revenues Miss Estimates  »

Wall Street is heading for a pivotal week as Big Tech earnings, the Federal Reserve’s rate decision and key inflation data test a market hovering near record highs.

The busiest stretch begins on Wednesday, when Microsoft and Meta Platforms report earnings before the focus quickly shifts to the Fed’s interest rate decision later in the day.

 » Read more about: Week ahead: Wall Street's biggest summer test is here with Big Tech, Fed on deck  »

Quick Read

• AMZN trades near $247 against a Wall Street path to $400, anchored by AWS’s 28% revenue growth and record operating margins.

• Free cash flow collapsed 95% to $1.2 billion under surging capex, but Jassy expects a $70 billion snap-back as spending flattens.

 » Read more about: Wall Street Knows Amazon Can Hit $400 Next Year, That’s Why I Keep Loading Up  »

 » Read more about: The 'sexy math' behind Reformation's Big Short-style pitch to Wall Street on its $1 billion IPO  »

 » Read more about: Nvidia's potential $250B backstop for OpenAI is another strike against the AI trade  »

Key Takeaways

• Investors haven’t been rewarding tech companies’ stocks for strong results this earnings season, according to a report from Bank of America.

• Worries about an AI bubble and the sustainability of spending have weighed on stocks in the sector lately.

• Several Wall Street experts have said they expect sentiment to shift back in favor of the AI trade,

 » Read more about: Investors Have Been Giving Tech Stocks a Hard Time Lately, Despite Strong Earnings  »

Investors in Mirion Technologies, Inc. MIR need to pay close attention to the stock based on moves in the options market lately. That is because the Nov. 20, 2026 $2.5 Call had some of the highest …

 » Read more about: Is the Options Market Predicting a Spike in Mirion Technologies Stock?  »

Investors in StoneCo Ltd. STNE need to pay close attention to the stock based on moves in the options market lately. That is because the Jan. 15, 2027 $2.47 Call had some of the h …

 » Read more about: Are Options Traders Betting on a Big Move in StoneCo Stock?  »