TLDR

MARKET RECAP → Stocks climbed Wednesday with all three major indexes rising. The rise is in part due to Apple (AAPL) seeing a strong gain and reports of a $100 billion investment increase in domestic manufacturing. Investors taking in the latest batch of corporate earnings also played a role in the upwards movements.

TRUMP EYES FED → Trump is expected to fill Kugler’s seat by Aug 8 and may groom that pick as Powell’s successor. Bessent is out; Hassett, Warsh, and Waller remain. But Biden‐appointed governors could blunt his influence.

UNCLE SAM’S NEW CHATBOT → OpenAI is selling its ChatGPT Enterprise product to the U.S. government for $1, granting federal agencies access to advanced models like GPT-4o under a strategic agreement. It’s not about profit, it’s about influence, integration, and long-term adoption across the public sector.

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Notable Earnings This Week

POLL OF THE DAY

Economy

Trump Eyes Fed

Trump Eyes Fed Shake-Up: President Donald Trump is preparing to fill two upcoming vacancies on the Federal Reserve Board, including a seat being vacated early by Governor Adriana Kugler on August 8. Her early departure gives Trump an accelerated chance to influence Fed policy and potentially groom a successor to Jerome Powell.

Shortlist Narrows, Bessent out: Trump told CNBC he has ruled out Treasury Secretary Scott Bessent for Fed Chair and has narrowed his picks to four, including former officials Kevin Hassett and Kevin Warsh, as well as current Fed Governor Chris Waller. A decision on Kugler’s replacement is expected by the end of the week.

Biden-Era Influence Remains: Despite Trump’s opportunity to reshape the board, three Biden-appointed governors, Michael Barr, Lisa Cook, and Philip Jefferson, will remain in place through 2026 or beyond. That limits Trump’s ability to drive immediate policy shifts, even with new appointees in key roles.

Tech

Uncle Sam’s New Chatbot

One Dollar, One Deal: OpenAI is offering a premium version of ChatGPT to the U.S. federal government, for just $1. The contract, awarded through the U.S. General Services Administration, gives agencies access to ChatGPT Enterprise, the company's most advanced tier, with the government now being treated as a “first-party customer,” similar to Microsoft (MSFT) and other major partners.

Government-Grade AI Access: The offer includes OpenAI’s latest models (like GPT-4o), with enhanced privacy and security tailored for federal use. This deployment does not include classified environments, but it’s already live across civilian agencies. OpenAI says it's adding features to accommodate specific government workflows, though it won’t reveal exactly which agencies are using it.

Strategic Stake, Not Charity: The $1 price tag isn’t just goodwill, it’s a long-term strategy to expand OpenAI’s foothold in public-sector AI infrastructure. By deeply integrating into government systems, OpenAI positions itself for lucrative future contracts, while federal agencies test-drive transformative AI in procurement, customer service, and research.

BULL VS. BEAR

KEEP READING

Apple shares pop 5% ahead of Trump-Cook investment announcement at White House (CNBC)

Fort Stewart shooting suspect identified as active-duty sergeant, official says; 5 soldiers wounded (CBS News)

Citizen Lab director warns cyber industry about US authoritarian descent (TechCrunch)

Nvidia's ‘most underappreciated’ business is taking off like a 'rocket ship' (Yahoo Finance)

DeFi Cheers as SEC Affirms Liquid Staking Protocols Aren’t Securities (CoinDesk)

How to Change Your Money Mindset: 9 Tips for Abundance Thinking (ML)

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