📈 Stocks / Finance

Meta selloff sparks AI capex concerns on Wall Street

Axios

Meta's stock dropped sharply amid reports of AI division downsizing, triggering fears of a broader AI spending slowdown. With Big Tech firms interlinked via $400B in projected AI capex, any pullback could ripple through earnings across the S&P 500.

Tech stocks drag as rate-cut uncertainty pressures markets

Yahoo Finance

The Nasdaq slid 0.7% as tech stocks extended losses, led by Palantir's continued sell-off. The Dow edged up 0.04%, while the S&P 500 fell 0.2%. Fed minutes showed limited support for near-term cuts, stoking investor caution ahead of Powell's Friday remarks at Jackson Hole.

Analog Devices stock jumps on earnings, bullish Q4 outlook

Investor’s Business Daily

Analog Devices beat Q3 estimates with EPS of $2.05 and $2.88B in revenue, up 30% and 25% YoY. It guided Q4 above consensus at $2.22 EPS and $3B sales. ADI stock rose 6.3%, breaking key technical levels as chip demand from industrial and auto sectors rebounds.

🪙 Crypto

Tom Lee’s firm builds $5B ETH treasury, pivot stuns Wall Street

Yahoo Finance

Bitmine, led by Tom Lee, paused BTC mining to amass 1.17M ETH worth $5.26B, making it the world’s largest corporate Ethereum holder. BMNR stock is up 725% YTD, as institutional interest in ETH rises, with ETFs seeing a record $2.85B weekly inflow.

🌎 Global Economy

Central banks gather at Jackson Hole amid succession talk

CNBC

Global policymakers head to Jackson Hole for the Fed’s annual symposium as markets await Powell’s Friday speech. Attention is shifting to his 2026 successor, with Treasury confirming interviews start post–Labor Day. July Fed minutes are also due Wednesday.