🚀 US Markets Hit Record Highs

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. U.S. stocks surged to record highs Tuesday as cooler-than-expected inflation data fueled bets that the Federal Reserve will cut interest rates next month. The S&P 500 climbed 1.13% to 6,445.76, the Nasdaq jumped 1.39% to 21,681.90, and the Dow gained 483 points to 44,458.61, with small caps leading gains on optimism over lower borrowing costs. July’s consumer price index rose 2.7% year-over-year, slightly below forecasts, while core CPI ticked up 3.1%, just above estimates. Traders now see a 94% chance of a September rate cut, up from 85% prior to the report, with additional cuts anticipated in October and December. The rally came as President Trump extended a pause on higher tariffs on Chinese goods, easing market nerves ahead of Thursday’s wholesale inflation report and the Fed’s Jackson Hole meeting later this month.

2. President Donald Trump lashed out at Goldman Sachs CEO David Solomon on Tuesday, urging him to replace the bank’s chief economist, Jan Hatzius, or “just focus on being a DJ,” after Hatzius warned that U.S. consumers will shoulder more of the cost of Trump’s tariffs. In a Truth Social post, Trump touted nearly $28 billion in July tariff revenue and insisted foreign companies and governments, not Americans, are paying the duties, accusing Goldman of making “bad” market and tariff predictions. Hatzius’ research projected consumers’ share of tariff costs would rise from 22% in June to 67% by October if current trends continue. Trump has scaled back some of his steepest tariffs in recent months, even as economists and businesses warn of looming price hikes.

3. President Donald Trump on Tuesday threatened to let a “major lawsuit” proceed against Federal Reserve Chair Jerome Powell, accusing him of mismanaging costly renovations at the Fed’s Washington headquarters and renewing demands for immediate interest rate cuts. In a Truth Social post, Trump blasted the $3 billion renovation price tag as a job that “should have been a $50 million fix-up” and called Powell “Too Late” for resisting deeper cuts. White House Press Secretary Karoline Leavitt declined to elaborate on the possible lawsuit, while the Fed offered no comment. Powell has defended the renovation costs and maintained rates steady in 2025, citing Trump’s tariffs as a key reason for holding off on cuts, even as traders now expect reductions in September, October, and December.

   Headlines

   1. Cava stock fell 20% after the company lowered its future guidance.

   2. Circle shares fell after the company announced that it would be issuing and selling another 10 million shares.

Are you looking to grow your business? Here is how I can help: 

📱Book a Strategy Call to get 1:1 feedback on your pitch, pitch deck and/or fundraising strategy. (If you need general startup advice, then reply to this email, and I’ll let you know if/how I can help.)

Onwards and Upwards,

Liam Gill