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Private sector hiring slowed sharply in July, with companies adding only 44,000 jobs according to ADP, falling below the 75,000 consensus estimate and down from June's revised 95,000. Nearly all job gains came from healthcare-related sectors, while goods-producing industries saw net losses, signaling uneven labor market conditions.

• Education and health services accounted for 36,000 of the 47,000 service sector jobs added, while goods-producing companies lost 3,000 positions with manufacturing adding only 2,000
• Pay growth for job switchers jumped to 7%, the highest since August 2025, while workers staying in their jobs saw 4.4% annual wage growth, suggesting supply constraints in parts of the labor market
• The weak July figure was the smallest monthly gain since January and comes ahead of Friday's official BLS jobs report, expected to show 83,000 hires with unemployment holding at 4.2%

Shopify projected third-quarter revenue growth above Wall Street estimates, driven by AI initiatives that are attracting more merchants and boosting consumer demand. The company's second-quarter revenue rose 34% to $3.58 billion, beating analyst expectations of $3.45 billion. Shopify's AI tools and partnerships with OpenAI, Google, and Microsoft are helping retailers reach more customers while small businesses adopt AI assistants to reduce costs.

• Q2 revenue increased 34% to $3.58 billion, surpassing analyst estimates of $3.45 billion
• Q3 revenue growth expected in the low-thirties percentage range, above the 26.3% analyst estimate
• AI partnerships with OpenAI, Google, and Microsoft, plus tools like Sidekick AI assistant, are driving merchant adoption and helping retailers reach customers through chatbots and search

Phillips 66 exceeded second-quarter profit expectations, driven by stronger refining margins as Middle East tensions increased demand for U.S. fuel exports. The company's realized margin more than doubled year-over-year to $24.08 per barrel, while adjusted profit reached $9.41 per share.

• Realized refining margin surged to $24.08 per barrel in Q2, up from $11.25 per barrel in the same period last year
• U.S. refiners benefited from Iran war disruptions as international buyers sought alternative fuel supplies, pushing U.S. fuel exports to record highs
• Adjusted profit of $9.41 per share beat Wall Street estimates, with diesel and other refined products seeing particularly strong export demand

Uber reported second-quarter earnings that met expectations but issued weaker-than-expected guidance for Q3, with forecasted bookings of $59.25 billion missing analyst estimates of $59.33 billion. The company's Q3 earnings forecast of 84-88 cents per share also fell short of the 89-cent analyst consensus, despite strong Q2 performance with revenue of $14.19 billion and net income of $2.39 billion.

• Q2 total bookings reached $58 billion, exceeding estimates of $57.23 billion, with mobility bookings up 22% to $28.99 billion and delivery bookings up 26% to $27.46 billion year-over-year
• Uber plans to commit over $10 billion in coming years to bring autonomous vehicles to market at scale, though its early partnership with Waymo is ending exclusivity in Atlanta and Austin by early 2028
• The company is expanding its delivery business through a recent deal to acquire Germany's Delivery Hero, increasing markets for food and grocery delivery

Eli Lilly raised its full-year revenue forecast to $85-87 billion from $82-85 billion, driven by strong demand for its GLP-1 weight-loss and diabetes drugs. The move comes amid intensifying competition from Novo Nordisk, which recently launched an oral version of its weight-loss drug Wegovy in the U.S.

• The global obesity drug market reached $66 billion in 2025 and is expected to grow significantly by 2030 in the U.S. alone
• Lilly's strong results demonstrate resilient demand for its GLP-1 treatments despite pricing pressure and competition
• Rival Novo Nordisk also raised its full-year forecast, relying on its oral Wegovy pill to compete in the lucrative obesity market

Walt Disney and TikTok announced a groundbreaking partnership allowing TikTok creators to use Disney content in short-form videos, which will appear on both TikTok and Disney+ streaming service. This marks the first such deal between a major traditional media company and TikTok, and the first time TikTok videos will stream on another platform. The pilot program launches in the U.S. in coming months with plans for international expansion.

• TikTok creators gain access to assets from hundreds of Disney films and series including Pixar, Marvel, Star Wars, and FX properties
• Disney+ will feature curated TikTok videos under a new 'Verts' tab designed to attract younger audiences who prefer vertical mobile video
• The deal reflects growing adoption of vertical video by streaming platforms, with Peacock, Paramount+, and Netflix already offering similar short-form content

China imposed restrictions on seven U.S. entities and tightened export controls on U.S.-bound drones in retaliation for American sanctions related to Xinjiang and FCC actions against Chinese telecom operators. The measures prohibit Chinese organizations from doing business with targeted firms including Compliance Testing and several supply-chain monitoring organizations. This escalation deepens ongoing U.S.-China trade and technology tensions centered on national security and human rights concerns.

• Seven U.S. entities face business restrictions in China, including testing lab Compliance Testing (accused of supporting FCC measures) and six organizations linked to Xinjiang-related sanctions like Applied DNA Sciences and Responsible Business Alliance
• China will conduct strict case-by-case reviews of drone and drone component exports to the U.S., making licensing more difficult but stopping short of a complete ban
• The countermeasures respond to U.S. additions of over 40 Chinese entities to the Uyghur Forced Labor Prevention Act list and restrictions on Chinese access to U.S. technology and markets

Siemens Energy's supervisory board will hold an extraordinary meeting on August 25 to discuss a possible spinoff of its Transformation of Industry division. The division reported a 14.0% profit margin on €1.5 billion in sales for the third quarter. No decisions are expected at the meeting, though CEO Christian Bruch confirmed discussions about the division's future are underway.

• The Transformation of Industry division caters to industrial firms and achieved a 14.0% profit margin on €1.5 billion ($1.73 billion) in Q3 sales
• The August 25 supervisory board meeting is extraordinary in nature, but no final decisions are anticipated
• CEO Christian Bruch has publicly confirmed that discussions about the division's future are ongoing

Honda Motor reported its first profit increase in six quarters, with April-June operating profit more than doubling to 530.8 billion yen ($3.37 billion) from 244.2 billion yen year-over-year. The Japanese automaker raised its full-year operating profit forecast by 30% to 650 billion yen, driven by favorable currency effects despite declining global sales and higher material costs from the Iran war.

• Q2 operating profit of 530.8 billion yen significantly exceeded analyst expectations of 302.1 billion yen
• Weaker yen provided a boost that offset headwinds from declining global sales and higher material costs linked to Iran war
• Full-year operating profit forecast increased 30% from 500 billion yen to 650 billion yen

Glencore reported an 86% increase in first-half earnings, driven by strong commodity trading profits amid Middle East conflict-related market volatility. The company also announced plans to pursue a secondary listing in Australia in October.

• First-half earnings surged 86% compared to the prior year period
• Strong trading profits were fueled by market volatility stemming from the Middle East conflict
• Glencore is targeting a secondary listing on the Australian stock exchange in October

Heineken reported a 6.7% increase in organic operating profit for the first half of the year, significantly exceeding analyst expectations of 3.3% growth. The improved performance follows the company's decision to cut 3,000 jobs as part of its cost-reduction strategy.

• First-half organic operating profit grew 6.7%, more than double the 3.3% growth analysts had forecast
• The profit increase came after Heineken implemented job cuts affecting 3,000 employees
• The results suggest the company's restructuring and cost-cutting measures are delivering stronger-than-expected financial returns

Disney reports fiscal third-quarter earnings Wednesday morning, with Wall Street expecting $1.34 earnings per share on $25.40 billion revenue. Investors will focus on streaming and theme parks performance, plus CEO Josh D'Amaro's growth strategy less than five months into his tenure after replacing Bob Iger.

• Disney has implemented layoffs across divisions including ESPN in July as part of cost-cutting measures under new leadership
• Theme parks remain a key profit driver, though peers like NBCUniversal reported lower Orlando attendance due to weak consumer sentiment and higher travel costs from U.S.-Israel-Iran conflict impacts
• Streaming business updates will be closely watched as D'Amaro focuses on investing in intellectual property and advancing storytelling technology to boost both parks and streaming

General Motors and China's SAIC Motor have extended their 50-50 joint venture by 20 years to 2047, despite rising U.S.-China geopolitical tensions and a rapidly changing Chinese auto market. The deal focuses on domestic sales of Buick and Cadillac in China while exporting Chevrolet vehicles built in China to non-U.S. markets including the Middle East, Africa, South America, Mexico, and Asia-Pacific.

• The original 1997 joint venture was set to expire next year after 30 years; the new extension runs through 2047, though GM declined to disclose financial terms
• GM's China earnings have declined sharply from peak levels to two consecutive years of losses in 2024 and 2025, though the company reported $248 million in equity income in the first half of this year after restructuring
• The extension comes as China's auto industry rapidly shifts toward domestic brands and away from traditional Western automakers, though China has become the world's largest vehicle exporter in recent years

SpaceX plans to launch its 14th Starship test flight as soon as late August 2026, attempting to catch the upper stage on land for the first time using mechanical tower arms. The mission will also deploy the first upgraded V3 Starlink satellites, which are expected to deliver 10 times the broadband capacity of current generations. The timing depends on regulatory approval, as SpaceX aims to achieve fully reusable orbital launch capabilities.

• SpaceX will attempt its first land catch of Starship's upper stage using tower-mounted mechanical arms, a critical step toward building the world's first fully reusable orbital launch system
• The flight will deploy first-generation V3 Starlink satellites offering 10x the broadband capacity, with SpaceX ultimately aiming to launch 60 such satellites per Starship mission
• CEO Elon Musk projected SpaceX could achieve 'at least one flight a day, possibly more' within a year, with plans to eventually catch both the Super Heavy booster and upper stage in sequence

Sysco, the largest U.S. food distributor, has halted purchases of iceberg lettuce from Taylor Farms and Mexico in response to a U.S. cyclosporiasis outbreak. The FDA investigation has linked the outbreak to iceberg lettuce served at Taco Bell restaurants, sourced from Taylor Farms operations in central Mexico, though authorities continue searching for other potential sources.

• CEO Kevin Hourican announced the suspension of iceberg lettuce purchases from both Taylor Farms and Mexican sources
• FDA investigation linked the outbreak to Taylor Farms operations in central Mexico that supplied Taco Bell restaurants
• Authorities are still investigating other potential sources of the cyclosporiasis outbreak beyond the identified supplier

Mattel missed Wall Street's second-quarter profit estimates as consumers reduced discretionary spending on traditional toys amid economic pressures. The company, which relies heavily on classic toy brands like Hot Wheels, faces shifting consumer preferences toward tabletop and digital games while higher living costs squeeze household budgets.

• Mattel reported adjusted profit of only 1 cent per share for Q2, missing analyst expectations
• Net sales of $1.12 billion beat estimates of $1.10 billion, showing revenue strength despite profit weakness
• The company maintained its full-year profit forecast of $1.27 to $1.39 per share despite headwinds from weak demand for traditional toys

Devon Energy reported its highest quarterly profit since 2022, beating Wall Street expectations due to surging crude oil prices and increased production following its $58 billion acquisition of Coterra Energy. The merger created one of the largest independent oil and gas producers in the U.S., with production rising to 1.36 million barrels of oil equivalent per day.

• Adjusted profit reached $1.57 per share, driven by Brent crude averaging $89.62 per barrel in Q2, up 19.2% year-over-year due to Middle East supply disruptions from the U.S.-Israeli war with Iran
• Production surged 62% to 1.36 million boepd from 841,000 boepd a year earlier, marking the first quarter reporting results after closing the $58 billion Coterra Energy acquisition
• Average realized price per barrel jumped 40% to $88.09 compared to $62.97 in the same quarter last year

Samsung Electronics unveiled its next-generation AI memory technology, the V10 Bonding V-NAND (BV-NAND) prototype, at the Future of Memory and Storage conference in California. The new chip features over 400 layers and advanced wafer-bonding architecture designed to meet growing AI storage demands. Samsung also presented concept models for zHBM and zNAND-O, positioning itself to maintain its chipmaking lead in the expanding AI market.

• The BV-NAND technology increases memory density by 58% compared to the previous V9 NAND generation while improving read, write, and input/output performance for AI workloads
• Samsung's new wafer-bonding technology enables over 10 times the memory density of conventional HBM5, triples energy efficiency, and cuts thermal resistance by more than half
• Long-term customer agreements could eventually account for 60% to 70% of Samsung's memory sales, indicating strong sustained AI demand despite concerns about weakening smartphone demand

Brazilian planemaker Embraer secured a contract with Colombia for two KC-390 Millennium transport aircraft as outgoing President Gustavo Petro pursues military fleet modernization. Colombia becomes the first Latin American country outside Brazil and the 13th nation globally to select the KC-390, which competes with Lockheed Martin's C-130 Hercules.

• The KC-390 deal follows a 2025 agreement between Colombia and Saab for Gripen fighters, with the transport aircraft featuring connectivity to operate alongside the fighter jets
• President Petro had previously criticized bureaucratic obstacles to fleet modernization plans after a C-130 incident
• The contract includes mission equipment, integrated services and support package, and an offset program meeting Colombian regulatory requirements

Lockheed Martin is negotiating deals to purchase scandium and germanium from U.S. and Canadian mines, responding to President Trump's pressure on defense contractors to reduce reliance on Chinese critical mineral supplies. The talks face challenges including higher costs compared to Chinese suppliers and limited domestic production capacity, but represent a significant step toward building domestic mineral supply chains.

• NioCorp has preliminarily agreed to supply Lockheed with 15 metric tons of scandium annually from its Nebraska mine (opening 2028), representing roughly a quarter of global demand estimated at 60 metric tons yearly
• Germanium negotiations with Teck Resources and 5N Plus have continued for over a year, with pricing and contract length remaining key sticking points
• Trump recently tightened waiver rules making it harder for defense contractors to buy minerals from China and other prohibited suppliers, accelerating the push for domestic sourcing