Table of Contents

• Markets react to assassination attempt on Trump

• Goldman Sachs Earnings Report

• Google in acquisition talks with Wiz

Top Stories Today

Economy & Finance

Markets react to assassination attempt on Trump

The attempted assassination of former President Donald Trump at a rally in Butler, Pennsylvania, has led to significant market reactions. Bitcoin prices surged by 4%, driven by Trump's support for the cryptocurrency and his upcoming appearance at the Bitcoin Conference. Shares of Trump Media and Technology Group rose by 28%, while Tesla stock gained 4% after CEO Elon Musk endorsed Trump. GEO Group, a private prison operator, saw its stock jump by 7%, reflecting investor expectations of policies favoring the industry under a potential second Trump term. Analysts predict Trump's presidency could lead to higher inflation, increased fiscal spending, and rising bond yields, influencing market trends and investment strategies. Meanwhile, clean energy stocks declined, and U.S.-listed Chinese firms dropped due to potential trade tensions under a second Trump presidency.

Goldman Sachs Earnings Report

Goldman Sachs reported a more than doubling of its second-quarter profit, exceeding analysts' expectations due to strong debt underwriting and fixed-income trading. Despite this, profits were lower than the previous quarter's high since 2021. CEO David Solomon expressed confidence in the bank's positioning amid economic resilience but noted ongoing geopolitical risks and inflation concerns. Investment banking fees saw significant increases, although they fell short compared to JPMorgan and Citigroup. The bank's stock rose slightly, reflecting mixed market reactions. Goldman plans to moderate stock buybacks and is negotiating with regulators regarding recent stress test results.

Technology

Google in acquisition talks with Wiz

Google parent company Alphabet is in advanced discussions to acquire cybersecurity startup Wiz for approximately $23 billion, marking the largest acquisition in Alphabet's history. This primarily cash-funded deal could be finalized soon. Wiz, an Israeli-founded company now based in New York, provides AI-powered cloud-based cybersecurity solutions and generated around $350 million in revenue in 2023, serving 40% of Fortune 100 companies. The acquisition would be significant amidst increased regulatory scrutiny under the Biden administration, which has shown resistance to large tech mergers. If completed, this deal would highlight the ongoing trend of substantial mergers in the tech sector, which saw a significant increase in activity this year.

Thanks for reading, subscribe to The Standard Lens for more.