Market update for Thursday July 30th Check out the Public app for incredible investing tools and to support the show (LINK) Follow us on Instagram (@TheRundownDaily) for bonus content and instant reactions. In today’s episode, Zaid covers: Why the bond market is already questioning Kevin Warsh’s credibility Meta’s earnings miss, shrinking free cash flow, and Wall Street’s frustration with its massive AI spending Microsoft’s strong quarter as Azure growth accelerates and Copilot adoption jumps Starbucks’ turnaround gaining momentum as customer traffic and same-store sales improve Carvana’s record quarter getting overshadowed by weaker-than-expected guidance DoorDash’s plan to build its own delivery drones and take food delivery to the sky

Kevin Warsh Rattles the Market, Meta and Microsoft Split on AI 

The Rundown

Public.com presents The Rundown, your daily market update in 10 minutes. My name is Zaid Admani and today is Thursday, July 30th. In today's episode, we'll break down yesterday's Fed meeting and tell you why the market is already questioning Kevin Warsh's credibility. We'll also recap earnings from Meta and Microsoft and explain why investors are rewarding one company's AI spending while punishing the other.

Then stick around to the end of the show to find out why your burrito delivery could soon arrive via drone. We got a great show for you today. Let's go. Well, guys, yesterday was an ugly one for the market. Stocks got hit hard on Wednesday with the S&P 500 falling 1.5 percent. The Nasdaq dropped 1.7 percent and even the Dow got smoked falling 2.2 percent.

Now, what's weird here is that stocks initially rallied after the Fed announced that it was leaving interest rates unchanged. Right after that announcement, the S&P and Nasdaq briefly turned positive. And then Fed Chair Kevin Warsh got up on that podium and started speaking at the press conference and the entire rally disappeared. So let's talk about what happened at the Fed meeting and in the press conference. The headline, like I just said, was that the Fed held interest rates steady at 3.5 to 3.75 percent.

But that vote was divided. There were three Fed officials that wanted to raise rates because inflation is still above the Fed's 2 percent target. So we have a divided Fed right now, which is pretty rare and something that markets don't love to see. And then Kevin Warsh's press conference didn't help things either. It was a very weird press conference.

Kevin Warsh Rattles the Market, Meta and Microsoft Split on AI

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Kevin Warsh Rattles the Market, Meta and Microsoft Split on AI

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.