BUSINESS

The Golden State Warriors' odds for the 2027 NBA championship have dropped significantly after LeBron James signed with the Philadelphia 76ers, highlighting the impact of free agency on prediction markets.

SpaceX shares rose sharply following a major lockup expiration, defying expectations of a selloff. The company's strong earnings and strategic growth in satellite and AI sectors bolster investor confidence.

OpenAI is developing a premium-priced, AI-driven smart speaker in collaboration with Jony Ive's design studio, aiming to enter the consumer hardware market dominated by Amazon and Google.

Doximity's stock surged 61.17% after a strong quarterly report highlighted early profitability of its AI search product, despite mixed forward guidance and a short squeeze amplifying the rally.

The Dow Jones rose slightly as July's unexpected job losses prompted speculation on the Federal Reserve's interest rate strategy. Investors are closely watching economic indicators and geopolitical developments.

A YouTuber's prank on Tesla's Optimus robot at a Hollywood diner backfires, as the robot mimics the prank, delighting onlookers and sparking viral interest in Tesla's humanoid robot testing.

SpaceX and Tesla, in partnership with Intel and xAI, confirm the site for Terafab, a massive AI chip manufacturing complex in Texas, aiming to address global chip supply constraints.

The US economy unexpectedly lost 23,000 jobs in July, altering market expectations for Federal Reserve interest rate decisions, despite a slight drop in the unemployment rate to 4.1%.

The ASX 200 index closed slightly lower, with financials dragging down gains in energy and technology sectors, despite a record-setting week. Oil prices surged due to Iran's Strait of Hormuz proposal.

Samsung's latest foldable smartphones, the Galaxy Z Fold 8 and Z Flip 8, have shattered pre-order records globally, indicating a shift towards mainstream adoption of foldable devices despite higher prices.

Apple has increased trade-in values for iPhones, iPads, Macs, and Apple Watches, with some devices seeing up to 30% higher estimates. The program now includes more Android models, promoting upgrades.

MercadoLibre reported record revenue in Q2, but a third consecutive quarterly decline in net income has raised investor concerns over the company's shrinking profit margins amid heavy investment in expansion.

Figma's shares dropped 17.64% after a strong earnings report, as investors worry about AI competition and insider share lockup. Despite revenue growth, cautious forecasts and valuation concerns persist.

Honeywell Aerospace's stock fell nearly 20% after its first earnings report as an independent company revealed significant cuts to its full-year sales and earnings guidance due to supply chain issues.

CXMT Corp shares fell 4.31% amid post-IPO volatility and competitive pressures in the DRAM market, highlighting challenges in technology advancement and geopolitical constraints.

Samsung and SK Hynix are testing Chinese chipmaking equipment from AMEC to counter potential U.S. export restrictions, highlighting a strategic shift in the global semiconductor supply chain.

Iovance Biotherapeutics' shares rose 34% after reporting record second-quarter revenue and receiving FDA Fast Track Designation for its cancer therapy, Amtagvi, signalling strong growth and investor confidence.

The Dow Jones Industrial Average reached a record high, driven by Iran diplomacy and corporate earnings, despite divergent reactions in tech stocks and concerns over market leverage.

SK Hynix shares fell 10.37% due to disappointing guidance from US memory chip companies, causing a global semiconductor selloff. The decline affected South Korea's KOSPI index and other Asian markets.

SpaceX shares dropped 13.61% after its first public earnings report showed strong revenue growth overshadowed by significant AI investment and an impending insider share release.

South Korea's KOSPI index fell 4.58% due to a semiconductor selloff, triggering a trading halt. The decline affected global markets, highlighting the volatility of Korean equities in 2026.

SolarEdge's shares fell 30% due to a disappointing third-quarter revenue forecast, despite improved second-quarter earnings. The outlook affected other solar companies, highlighting ongoing challenges in the U.S. market.

Australia's ASX 200 index reached a record high, driven by strong performances in mining and financial sectors, as global market dynamics shift focus away from AI-related stocks.

A founder increased revenue by reducing content output, highlighting the importance of strategic clarity over sheer volume in marketing efforts.

AMD reported record Q2 results driven by AI hardware demand, but shares fell 7% as investors sought clearer growth evidence. Despite strong data center revenue, concerns over future growth persist.

Nvidia's shares rose after SpaceX announced it would exclusively use Nvidia hardware for its AI infrastructure, expanding Nvidia's reach beyond traditional data centers and boosting investor confidence.

GameStop's stock faces volatility due to a debt-for-equity swap, eBay acquisition plans, and bitcoin exposure, raising investor concerns about dilution and financial stability.

Riot Platforms' stock rose 8.05% as the company shifts focus from bitcoin mining to AI infrastructure, amid a broader market rally and positive analyst sentiment.

Hecla Mining Company reports a debt-free balance sheet and record silver production, with strong cash flow and exploration results, despite a revenue dip due to lower metal prices.