Fed Governor resigns early, BLS chief fired after July services PMI drops to 50.1. Palantir revenue hits $1B with 600% stock surge, GLP-1 drugs fall to $499/month, 10M children in poverty. Tariff threats reach 250%, Caterpillar faces $1.5B loss. New Rochelle housing model limits rent growth to 1.6%.

Goldman Sachs' August 6 bombshell report exposes China's internet giants facing their biggest profit crisis since Q2 2022, with sector-wide earnings down 10% while AI cloud services surge 23%. The Big Three—Alibaba, Meituan, JD—are hemorrhaging profits (16%-70% decline) as they pour 30B+ yuan into instant delivery warfare. Tencent emerges victorious with 15% profit growth fueled by Delta Force's 9B yuan blockbuster and AI innovations. Market dynamics shift from duopoly dominance to three-way battle as competition intensity peaks in September quarter.

BofA Securities August report exposes copper tariff turmoil: CME-LME spread collapsed from record 30% to zero in single day as US stockpiled 600kt (40% annual demand). Report identifies LME-CME spread as strongest mean-reversion relationship outside energy pairs. Recommends overweight gasoline, soymeal, precious metals while underweight WTI crude. 16% effective tariff rate reinforces stagflation risks with 6-month positive outlook for Brent and industrial metals.

 Goldman's Aug 5 weekly shows China's Week 31 developer stocks tumbled 6% to historic 0.5x P/B lows with 33% NAV discount. Inventory clearance needs 25.9 months while Politburo omitted stimulus becomes key variable. Tier-1 cities' 6% WoW sales growth shows resilience vs central/western -6% decline deepening divergence. CIFI bucked trend with -1% drop earning buy rating.

U.S. employment data credibility faces political threats while Big Tech AI investments drive 73% profit growth but 30% free cash flow decline. Musk receives $23.7B compensation package amid tariff uncertainty hampering corporate investments. Academic "paper mills" threaten research integrity as Gen Z workplace anxiety intensifies. Colorectal cancer screening age lowered to 45, boosting early detection by 62%.

Goldman Sachs released August APAC Conviction List update on Aug 3, adding Jardine Matheson and Namura Shipbuilding. Jardine targets $68.10 with 21.7% upside, 38% NAV discount offers revaluation opportunity. PAG partner Lincoln Pan appointment drives portfolio review, expecting 15%/9% earnings growth in FY25/26. Namura targets ¥3,700 with 18.8% upside, benefiting from geopolitical reshaping and US tariffs on China shipbuilding, Japan's market share rising from 10% to 13%. Goldman upgrades capital goods, tech hardware to overweight, favors North Asia with six alpha themes.

 UBS latest report challenges Fed Chair Powell's "immigration shock" narrative on US economic slowdown. Data reveals weakness stems from demand shortfall, not population decline, with GDP growth at mere 1.2% annualized and unemployment rising to 4.25%. New tariffs expected to push core PCE inflation to 3.4% while dragging growth by 0.1-0.2pp. UBS forecasts Fed will cut rates 25bps in September, totaling 100bps by year-end.

This edition highlights five key trends: (1) Despite a low 4.2% unemployment rate, long-term joblessness hits a multi-year high; (2) A sudden M&A boom sees mega-deals flourish amid political tailwinds; (3) AI radically transforms McKinsey’s operations, triggering layoffs and new work models; (4) The US shocks Switzerland with a 39% tariff, fueling global trade uncertainty; (5) Earnings from giants like Berkshire and Boeing reveal profit strain and operational restructuring.

 UBS July 31 report reveals US sudden exemption of 50% import tariffs on major copper products triggered Comex copper price plunge over 20% and FCX stock crash 9.5%. Report highlights US accumulated 50-70K tons excess inventory, equivalent to 30-40% annual demand, posing persistent downward pressure on global copper prices. UBS downgrades FCX to neutral, warns 10-20% EBITDA downside risk. Tariff cancellation more negative for copper prices short-term, intensifying LME downside risks.

 Morgan Stanley's Aug 1 report reveals US tech sector P/E at 100th percentile historic high while MSI signals risk-off sentiment. Record $319B foreign inflow to US bonds but equity demand shifts to Europe. S&P 500 +2.3%, tech leads +5.1%, VIX at 16.7. Fed expected to cut 95bps, credit spreads tighten, commodities surge 8.1%.

 Citi Research's August 1st report reveals AI-related stocks comprise 48.4% of S&P 500 market cap. Despite 95th percentile P/E valuations, PEG ratios remain reasonable. The study introduces "Earnings Sharpe Ratio" - AI stocks score 0.74 vs non-AI tech's 0.38. Core thesis: current "bubble vs bull paradox" leans toward structural bull market. AI infrastructure build-out expected to continue 1-2 years, requiring eventual handoff to AI adopters. Investors should focus on valuation reasonableness, operational efficiency gains, and transition timing.

 US employment data revision shows 258K job losses in May-June, driving rate cut expectations from 38% to 70%. Nintendo Switch 2 hits 6M sales in 7 weeks as tech giants' AI investments reach record market caps. Palo Alto's $25B CyberArk acquisition sets cybersecurity M&A record. Luxury consumption shifts to "multi-location stocking" model while female work-life balance transcends political divides. 26 human students outperform AI in Math Olympiad, highlighting creativity's unique value. Tariff policies create divergent industry impacts - Apple faces $1.1B cost increase yet sees 13% sales growth.

Goldman Sachs' July 31 report reveals Q2 2025 China industrial robot sales hit 86K units (+20% YoY), with domestic brands capturing 54% market share. ESTUN maintains 11% market leadership with 44% sales growth, while Inovance dominates IA components (34% servo market share) and enters top-5 large PLC ranking. Cobots surge 52%, driven by lithium battery, semiconductor, and automotive demand. Despite strong performance, Goldman assigns ESTUN a "Sell" rating with 29% downside, highlighting profitability concerns amid market share gains.

 Goldman Sachs raised CoreWeave target price 97% to $120 while maintaining Neutral rating on July 29. FY25 revenue projected at $5.008B (+161%), backed by $15.9B OpenAI contract portfolio. Company faces customer concentration risk, 6x net debt/EBITDA leverage, and 50% depreciation pressure. Balancing $400B AI infrastructure opportunity against intensifying competition.

Goldman Sachs released first-take analysis on Amazon Q2 2025 earnings July 31st. Revenue hit $167.7B (+13% YoY) beating estimates, operating income reached $19.2B vs $16.8B expected. AWS revenue $30.9B (+17%) slightly below investor expectations elevated by competitor performance, with weaker-than-estimated profitability. Advertising revenue $15.7B (+23%) standout performer. Q3 guidance optimistic but Goldman expects muted stock reaction, maintains Buy rating with $220 target. Focus on supply chain tariff adaptation and AI investment outlook.

 Goldman Sachs' July 31 research reveals Apple's Q3 beat across metrics: EPS $1.57 vs est. $1.43, revenue $940B with iPhone at $446B significantly exceeding forecasts. Key inflection: Services growth accelerated to 13% with 75.6% gross margin, second-highest on record. Goldman maintains Buy rating, $251 target on 30x NTM PE. Core thesis: Services to drive majority of gross profit growth over next five years, "Apple-as-a-Service" model taking shape, ecosystem resilience offsetting hardware cyclical headwinds. Key risks: weakening consumer demand, supply chain disruption, intensified competition.

US Q2 GDP growth of 3% driven by trade distortions, real private demand up only 1.2% - lowest since late 2022. Historic Fed dissent as two governors openly oppose rate hold. Meta's $72B and Microsoft's $30B AI bets pay off, but traditional entry jobs vanish with 30% surge in application competition. Ford loses $800M to tariffs, Nissan faces fourth consecutive quarterly loss with $2B annual tariff bill. Data center power demand explodes to 40GW triggering cost crisis.

US Q2 GDP growth of 3% conceals structural issues with private demand rising only 1.2%, the lowest since 2022. Fed shows internal dissent as two officials vote for rate cuts. Meta and Microsoft convert AI investments into revenue growth while entry-level jobs face disruption. Tariffs hit Ford with $800M costs causing losses. Hermès defies luxury slowdown. Data centers demand 40GW power sparking infrastructure debates. Autonomous trucks achieve nighttime breakthrough with 11-second obstacle detection advantage.

Goldman Sachs' July 31 report shows CATL's Q2 net profit of RMB 16.5bn beat expectations by 34%, but battery unit gross profit pressured to RMB 135/kWh. Intensified domestic competition delays margin trough to 2026. Company increases capex to 24% for market share gains, solid-state battery production targeted for 2027. Goldman maintains A-share "Buy" at RMB 328, downgrades H-share to "Neutral" at HKD 436, forecasting 24% EPS CAGR 2024-2030.

Goldman Sachs July 30 report reveals Meta's Q2 2025 revenue hit $47.52B, exceeding estimates with 22% YoY growth driven by resilient core advertising. Despite maintaining Buy rating with $775 target, Goldman warns of accelerating 2026 expense growth as massive AI and metaverse investments may pressure margins, amid intensifying competition and regulatory risks.