Wall Street sees a moderate dose of optimism as Donald Trump’s statements during the press conference yesterday shed some light on current developments of trade negotiations. The firm August 1 deadline caps some uncertainty, although investors remain prudent, given the unannounced measures between key partners like the EU or Japan. Currently all major US indices post gains (S&P 500: +0.6%, Nasdaq: +0.8%, Dow Jones: +0.6%, Russell 2000: +0.65%).
Aside from trade talks, Trump’s search for Jerome Powell’s successor intensifies, as the president comes back with words of criticism on Fed’s chair. Top contenders include National Economic Council Director Kevin Hassett, who’s discussed the role with Trump and may first be appointed to a Fed board seat opening in January. Treasury Secretary Scott Bessent and former Fed governor Kevin Warsh are also vying for the role.
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Performance of S&P 500 sectors. Source: Bloomberg Finance LP
US500 (H1)
S&P 500 futures have broken out of their recent consolidation after bouncing from key support around 6,260. The price is now slightly above the 6,130 resistance level, but momentum appears to be slowing. With the RSI above 70, some investors may hesitate to push the index higher right away. However, a positive surprise in trade negotiations could reignite the rally and support a move to new all-time highs.
Source: xStation5
Company news:
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Aehr Test Systems dropped 14% after Q4 revenue fell to $14.1M from $16.6M YoY, posting a $2.9M net loss. Management cited order delays from tariff uncertainty and withheld full-year guidance. Analysts flagged near-term pressure, though highlighted initial adoption of its AI chip testing tech as a promising, larger-market opportunity beyond silicon carbide.
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AES Corp. surges 14% amid takeover interest from infrastructure giants like Brookfield and BlackRock. With a $40B enterprise value, a sale would be among the largest LBOs ever. AES, a key renewable power supplier to tech firms, has struggled with stock declines and policy headwinds despite pivoting toward clean energy. No deal is certain yet.
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Mobileye stays flat after Intel announced a 45M-share secondary offering, though preliminary Q2 results beat estimates with revenue of $502–$506M vs. $466M expected. Strong EyeQ SoC demand and inventory normalization boosted performance. Analysts remain bullish, viewing Intel’s sale as cash-driven rather than a lack of confidence in Mobileye’s growth.
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Nvidia adds 2.5%, becoming the first publicaly traded company to reach a $4 trillion market cap.
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RxSight shares plummet 46% after slashing its 2025 revenue forecast to $120–$130M (down from $160–$175M) and missing Q2 estimates. Preliminary Q2 revenue fell 4% YoY to $33.6M vs. $39.8M expected.
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Starbucks is reviewing offers from investors — mostly seeking a controlling stake — in its China business, amid stalled growth and rising local competition. While initially preferring a minority stake sale, Starbucks may reconsider based on valuation. The company remains committed to China, its second-largest market, and aims to retain a meaningful stake. Shares are up 1.6%
