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Highlights

The S&P 500 remained nearly unchanged on Wednesday as investors awaited quarterly results from Alphabet and Tesla to assess the durability of the AI-driven market rally. While semiconductor stocks showed resilience, broader megacap weakness and rising oil prices fueled by geopolitical tensions weighed on sentiment.

S&P 500 Flat as Investors Await Tech Earnings Reports

The S&P 500 remained nearly unchanged on Wednesday as investors awaited quarterly results from Alphabet and Tesla to assess the durability of the AI-driven market rally. While semiconductor stocks showed resilience, broader megacap weakness and rising oil prices fueled by geopolitical tensions weighed on sentiment.

British warehousing group Segro is minded to recommend a 14 billion pound offer from Prologis following pressure from major shareholders. The updated proposal includes a secondary London listing and a partial cash alternative, with a formal deadline now extended to August 12.

Segro Backs Prologis 18.8 Billion Dollar Takeover Proposal

British warehousing group Segro is minded to recommend a 14 billion pound offer from Prologis following pressure from major shareholders. The updated proposal includes a secondary London listing and a partial cash alternative, with a formal deadline now extended to August 12.

Spot gold rose 1.7 percent to 4,145.24 dollars per ounce as a weaker dollar and Middle East supply concerns boosted the appeal of bullion. Investors are now awaiting the Federal Reserve meeting next week for further guidance on interest rates as markets price in a possible hike for September.

Gold reaches two week high on weak dollar and tensions

Spot gold rose 1.7 percent to 4,145.24 dollars per ounce as a weaker dollar and Middle East supply concerns boosted the appeal of bullion. Investors are now awaiting the Federal Reserve meeting next week for further guidance on interest rates as markets price in a possible hike for September.

The European Commission cleared the acquisition after Paramount Skydance agreed to end its distribution joint venture with Universal Pictures. While the deal secured European support, it faces legal delays in the United States and a potential intervention from British regulators.

EU Approves 110 Billion Dollar Paramount Warner Merger

The European Commission cleared the acquisition after Paramount Skydance agreed to end its distribution joint venture with Universal Pictures. While the deal secured European support, it faces legal delays in the United States and a potential intervention from British regulators.

Ford Motor plans to sell part of its Almussafes plant near Valencia to China's Geely to facilitate electric vehicle manufacturing in Spain. The deal allows Geely to produce its EX2 model within the European Union to avoid import tariffs while helping Ford reduce fixed costs and safeguard local jobs.

Ford and Geely Agree on Spanish EV Production Deal

Ford Motor plans to sell part of its Almussafes plant near Valencia to China's Geely to facilitate electric vehicle manufacturing in Spain. The deal allows Geely to produce its EX2 model within the European Union to avoid import tariffs while helping Ford reduce fixed costs and safeguard local jobs.

Market Overview

Georgia Power has entered a 25-year agreement to supply electricity to a new OpenAI facility in Effingham County. The deal includes a provision for OpenAI to return up to 1,000 megawatts to the grid during peak demand while funding community initiatives and local education credits.

Southern Co Unit Signs 25-Year Power Deal with OpenAI

The Panamanian government is considering a public-private partnership with First Quantum to restart the Cobre Panama mine after its 2023 closure. This proposal involves creating a state-owned entity to hold a minority stake and bypass current bans on new mining concessions in the country.

Panama weighs state mining firm for Cobre Panama restart

The Panamanian government is considering a public-private partnership with First Quantum to restart the Cobre Panama mine after its 2023 closure. This proposal involves creating a state-owned entity to hold a minority stake and bypass current bans on new mining concessions in the country.

A New York judge rejected a bid by Zelle parent Early Warning Services to dismiss a lawsuit alleging the platform failed to protect consumers from over 1 billion dollars in fraud. Attorney General Letitia James claims the company prioritized market dominance over safety features.

Judge rules Zelle must face New York fraud lawsuit

A New York judge rejected a bid by Zelle parent Early Warning Services to dismiss a lawsuit alleging the platform failed to protect consumers from over 1 billion dollars in fraud. Attorney General Letitia James claims the company prioritized market dominance over safety features.

US Trade Chief Aims for Interim USMCA Deals by Year End

USTR Jamieson Greer plans to establish preliminary trade arrangements with Mexico and Canada before 2027 while delaying complex automotive rules of origin talks. The strategy aims to provide options for North American leaders by December despite ongoing renegotiation uncertainty.

Porsche Board Backs Plan to Cut Up to 9000 Jobs

The Porsche supervisory board has approved a new restructuring package as CEO Michael Leiters seeks to overhaul the struggling Volkswagen subsidiary. Reports indicate job cuts could double to 9,000 positions following a collapse in China sales and high electric vehicle costs.

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