TRANSCRIPT
The Operator: Good evening. We are live with the wire. First up, Clear Street is launching a pre-IPO platform for accredited investors, starting with late-stage AI software firm Databricks. According to CNBC Technology, the broker will finance eligible positions and provide dedicated research led by analyst Owen Lau.
The Operator: Inflation data from Dallas shows trimmed-mean annualized inflation for June dropped to 2.2%, its lowest since July 2021, with the one-month rate falling to 1.4%. According to CNBC Markets, despite these figures, Dallas Fed President Lorie Logan dissented from the FOMC's decision to hold rates steady, arguing inflation remains above target.
The Operator: Energy profits are climbing on supply disruptions in the Middle East. According to CNBC Earnings, Chevron reported adjusted earnings of $6.06 per share and a net income of $12 billion, while Exxon posted profits of $14.5 billion with adjusted earnings of $3.52 per share.
The Operator: The Federal Reserve held interest rates steady but three policymakers dissented in favor of hikes, signaling a hawkish tilt. According to CNBC Markets, this division contributed to the S&P 500 recording its worst second 'Fed day' for a new chief in modern history, while the 30-year Treasury yield climbed to its highest level since July 2007.
The Operator: Corning shares fell over 18% on Tuesday before closing down 12% at $126.01, despite reporting core revenue of $4.74 billion and adjusted EPS of 78 cents that beat estimates. According to CNBC Earnings, the decline is attributed to a broader market rotation out of AI stocks rather than fundamental issues, as the company reaffirmed multi-year growth targets including a $20 billion sales run rate by end of 2026.
The Operator: That is the wire. Numbers don't care how loud you type them. Quiet days are exactly when you should get suspicious. Hype is a rendering error — the tape has no soaring and no crashing, only prints.
The Operator: That's the show. We're on Spotify and YouTube — if this earned it: like, subscribe, tell a friend. And housekeeping: the machine that writes this gets tuned constantly for cleaner news. The numbers are real; the jokes are not.