📈 Stocks / Finance

U.S. Stocks Decline as Treasury Yields and Oil Prices Rise

Spectrum News

U.S. stocks fell on Monday, with the S&P 500 dropping 1% and the Dow Jones Industrial Average losing 398 points, as Treasury yields surpassed 4% and oil prices continued to rise. The sharp increase in yields, following a strong U.S. jobs report, led investors to reconsider expectations for Federal Reserve rate cuts, placing pressure on equities. Utility and tech stocks were hit hardest, while Nvidia bucked the trend, rising 2.3% on AI-driven optimism.

AST SpaceMobile's Beta Test Signals Uncertain Future

Seeking Alpha

AST SpaceMobile launched its first 5 BlueBird satellites, initiating beta testing with AT&T and Verizon. Success could spur the launch of 17 more satellites by Q1 2025. However, with no revenue yet and a high cash burn, a discounted cash flow model suggests ASTS shares are overvalued at $13.69, warranting a 'strong sell' recommendation.

LegalZoom Institutional Growth Amid Analyst Caution

MarketBeat

Dimensional Fund Advisors LP increased its stake in LegalZoom.com by 25.6% during Q2, now holding 1,287,927 shares, valued at $10.8 million. Despite LegalZoom's Q2 revenue growth and a 22.36% return on equity, analysts maintain a cautious outlook, with a consensus 'Hold' rating.

🪙 Crypto

Wallet Drainer Exits TON, Targets Bitcoin Users

CryptoSlate

A wallet drainer on The Open Network (TON) blockchain has ceased operations due to a lack of high-value targets, or "whales," according to Scam Sniffer. Malicious actors are now shifting focus to Bitcoin, drawn by its large transaction volumes and user base, as phishing attacks rise.

🌎 Global Economy

The WTO's Deterioration and Rising Trade Tensions

Foreign Affairs

The World Trade Organization (WTO) is facing a breakdown as countries, led by the U.S. and China, defy trade rules. The U.S. has disabled the WTO's dispute mechanism, while nations like India and Indonesia block agreements. Rising protectionism threatens to unravel global economic order.

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