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The week in U.S. Business and Markets
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SpaceX reported rapid revenue growth but remained unprofitable as infrastructure spending expanded, pushing investors to focus on returns from Starlink and newer AI businesses. A major share unlock initially failed to trigger sustained selling, but it made demand and valuation the week's central test.
Big Tech and AI companies provided fresh evidence of demand, from Amazon's cloud-driven market-value milestone to Palantir's accelerating commercial sales. Alphabet's planned borrowing and AMD's weaker near-term forecast showed that investors increasingly want AI spending to produce measurable operating results rather than distant promises.
Job openings softened before July payroll data showed an outright employment loss, while downward revisions and a shrinking labor force made the unemployment rate look healthier than underlying conditions. The deterioration strengthened expectations for rate relief but raised questions about future growth.
Stocks first rallied on Big Tech strength and easing geopolitical pressure, then rose again as weak jobs data reduced fears of further rate increases. By week's end, gains had broadened beyond megacaps, although energy companies supplied much of the underlying sales growth.
UWM paired expansion capital with a quarterly loss, then suspended its dividend and raised preferred and rights-offering capital to reduce liquidity pressure. A subsequent credit downgrade underscored the risk that higher origination volume may not justify the added financial burden.
The Pentagon moved from speeding Patriot and THAAD interceptor production to demanding faster output and broader munitions replenishment. The pressure could expand defense backlogs while exposing bottlenecks that already strain U.S. inventories and allied deliveries.
Berkshire shifted from unusually high cash holdings toward substantial equity purchases and buybacks under Greg Abel. The move offered an early signal that the company would deploy its balance sheet more actively rather than preserve cash indefinitely.
Canada offered concessions against threatened 50 percent U.S. tariffs but continued pressing for a comprehensive agreement instead of narrow exemptions. The repeated negotiations left North American companies facing an unresolved risk of a major trade shock.
Day’s Recap