Investment Review №328. Waiting for change

29.08.2025 — 6460

• July data on personal income and spending showed solid growth, in line with consensus—rising 0.44% m/m and 0.53% m/m, respectively.

 

02.09.2025 — ▼6415

• A U.S. federal court delivered a verdict in the antitrust case against Alphabet (GOOGL). Judge Amit Mehta decided the company is not required to divest Chrome and Android, rejecting demands from the U.S. Department of Justice. Consequently, Alphabet's shares surged by 9.1%.

04.09.2025 — ▲6502

• LULU shares plunged 18.5% following a disappointing earnings report. Revenue growth slipped below double digits this year, signaling increasing challenges in sustaining momentum. Meanwhile, capital expenditures jumped nearly 20%.
• Broadcom’s report impressed investors with strong financials and upbeat guidance, but the real catalyst for AVGO’s 9.4% surge was the announcement of a contract to develop custom AI chips for new client OpenAI.

05.09.2025 — ▼6481

• August nonfarm payrolls added 22,000 jobs, falling short of the consensus estimate of 75,000 and down from July’s 79,000. Meanwhile, the unemployment rate edged higher to 4.32%.

10.09.2025 — ▲6532

• Producer price inflation for August came in softer than expected at -0.1% m/m, compared to the anticipated 0.35% increase, indicating that July’s spike of 0.9% m/m (revised to 0.7%) was a one-off event.