📈 Stocks / Finance

Lucid confirms 1-for-10 reverse stock split effective August 29

Lucid

Lucid will enact a 1-for-10 reverse stock split, reducing shares outstanding from ~3.07B to ~307M. Trading on a split-adjusted basis begins Sept 2 under ticker LCID. The move also cuts authorized shares from 15B to 1.5B, with no change to par value.

Walmart stock drops 4.5% despite strong US sales

Yahoo Finance

Walmart shares fell 4.5% after Q2 EPS missed forecasts at $0.68 vs. $0.74 expected. Revenue beat at $177.4B, with US same-store sales up 4.6%. One-time legal and restructuring costs weighed on profit. FY EPS guidance of $2.52–$2.62 trails some Street estimates.

Powell’s Jackson Hole speech looms over skittish markets

Investor’s Business Daily

Traders expect a 0.8% swing in the S&P 500 after Powell’s Jackson Hole speech Friday. Rate cut hopes have cooled, with FedWatch data showing 72% odds for a 25 bps cut in September, down from 92% last week. A less dovish tone could trigger a 7–15% pullback.

🪙 Crypto

Crypto holds steady as traders await Powell's policy cues

Yahoo Finance

Bitcoin, Ethereum, and other major tokens traded sideways ahead of Powell’s speech. $350M in liquidations hit 94K traders. Bitcoin ETFs saw $311.6M in outflows, while Ethereum ETFs lost $240.1M, reflecting investor caution amid macro uncertainty.

🌎 Global Economy

Global economy enters fragile phase as tariffs and FDI volatility rise

Business Plus

Ibec warns of a fragile global outlook marked by trade fragmentation, softening labor markets, and uneven FDI. OECD sees GDP slowing to 2.9% by 2026. Inflation remains mixed, while bond and equity markets rise despite policy uncertainty and stalled central bank alignment.