TLDR

MARKET RECAP → Stocks surged on Thursday as investors regained confidence in the economy, driven by positive consumer and labor data that eased recession fears.

July Retail Sales Surge → 📈 July retail sales jumped 0.7%, driven by online shopping, dining out, and auto sales, reflecting consumer confidence even as inflation loomed—economists raised forecasts but warned against overreliance on consumer strength.

NBA Media Deal Critical → 🏀 NBCUniversal eyed the NBA media rights as a game-changer for Peacock, aiming to boost subscribers and fend off streaming rivals, but the hefty price tag could make it a risky bet.

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MARKETS

Today’s S&P 500 Heatmap

Notable Earnings This Week

TODAY’S TOP NEWS

July Retail Sales Surge 

📈 July retail sales exceeded expectations, growing by 0.7% as consumers continued to spend despite economic uncertainties. This marked the fourth consecutive monthly increase, showcasing resilience in consumer behavior.

💳 Categories like online shopping, dining out, and auto sales drove the uptick, indicating a shift toward discretionary spending. Notably, this surge occurred even as inflation remained a concern, highlighting consumer confidence.

🛍️ Economists adjusted their forecasts upward, suggesting that robust consumer spending might keep the economy afloat. However, some warned that continued reliance on consumer strength could mask underlying economic vulnerabilities.

TODAY’S TOP NEWS

NBA Media Deal Critical 

🏀 NBCUniversal eyed the NBA's upcoming media rights as a key to bolstering Peacock's streaming growth, aiming to regain NBA games after nearly 20 years. Securing these rights was seen as a game-changer for expanding Peacock’s audience.

💼 The competition for NBA rights intensified, with NBCUniversal facing off against major players like Disney’s ESPN and Warner Bros. Discovery. A successful bid could significantly enhance Peacock's market position and content offering.

📊 As streaming wars continued, NBCUniversal considered the NBA deal crucial for maintaining relevance and driving subscriber growth. However, the high cost of securing the deal posed significant financial challenges, raising questions about the long-term return on investment.

BULL VS. BEAR

NOTABLE POSTS

KEEP READING

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TikTok and fast-food rivalry fuel Chili’s sales as parent Brinker says turnaround is taking hold (CNBC)

Warren Buffett did something curious with his Apple stock holding (CNBC)

Health stocks jump as WHO declares mpox global health emergency (CNBC)

Multiple arrests made in connection to Matthew Perry’s death (CNN)

Wally Amos, founder of Famous Amos cookies, dies at 88 (CNN)

Chili’s take on the Big Mac is beating McDonald’s at its own game (CNN)

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• Vimcal — Lightning-fast calendar and AI scheduling assistant

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