👀 Investors reacted to Apple and Amazon

Amazon and Apple reported results that were just fine, the UK cut interest rates for the first time in four years, and the goat that dominates beauty pageants | [Finimize](   TOGETHER WITH     Hi {NAME}, here's what you need to know for August 2nd in 3:15 minutes.   ☕️ Finimized over a green smoothie at [Pure]( in the Algarve, Portugal (☀️ 27°C/80°F) Today's big stories - Apple and Amazon revealed decent results, but the duo failed to get investors excited - The US election could change the dollar’s reputation – [Read Now]( - The UK cut interest rates for the first time in four years Not-So-Easy A [Not-So-Easy A] What’s going on here? Apple and Amazon both showed investors how they fared last quarter, but their adequate performances failed to earn them credit. What does this mean? Amazon’s revenue was 10% higher than the same time last year, landing at the $148 billion that analysts expected. The firm revealed a slightly worse-than-predicted performance from its online advertising business. Mind you, that was offset by surprisingly solid revenue from Amazon Web Services – closely watched by the many investors that believe cloud services will be a major moneymaker going forward. Either way, investors weren’t blown away: they initially sent the stock down 6% after the news. Apple toed the line, too. Revenue was a mildly better-than-expected $85.8 billion – although there were a few standout stats. The iPad delivered the biggest revenue uptick in the division thanks to new product launches, and Apple notched a record-high count of active devices around the world. Yet, nonplussed investors left the stock where it was. Why should I care? Zooming in: Back from the brink. Apple’s new iPhones are set to be packed with the technology, and that could attract a legion of chatbot communicators to its stores, especially as only 9% of devices in folks’ pockets are currently AI-compatible. And the company’s working smart, not hard, saving billions by implementing OpenAI’s services instead of making its own. The bigger picture: The race is on. No matter how many optimists believe that AI could rescue humanity, businesses will need to see cold, hard cash to justify pushing more money into the tech. And while the breakeven point is as far out as the promise of utopia, Meta has claimed it’s already reaping the rewards, while Amazon has said it’ll increase spending on cloud and AI infrastructure. Nvidia’s certainly seeing the effect on the bottom line: the chip company is the go-to brand for any business with super-smart ambitions, and that reputation has earned it billions. You might also like: [Nvidia’s just the start... Goldman says the AI boom will have four phases](. Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Not-So-Easy A&utm_campaign=daily-global-02-08-2024&utm_source=email) Analyst Take Trump Wants A Weaker US Dollar – Here’s What That Means For The States [Trump Wants A Weaker US Dollar – Here’s What That Means For The States]( By Russell Burns, Analyst [The US dollar]( has reigned supreme over other currencies over the last decade. But elections mean change, and the potential reelection of the former president could [shake up the greenback’s standing](. That’s especially true given that Trump’s targeting [a weaker dollar]( to support the economy. Russell has taken a look through his [proposed policies]( to see how that might pan out. So that’s today’s Insight: [how the former president’s policies could affect the US dollar](. [Read or listen to the Insight here]( SPONSORED BY DIREXION Tools for risk-tolerant traders Change might throw some traders off – but for others, it can be just what they want. So when financial markets start moving as quickly as they do today, many traders take the opportunity to make a contrarian bet or seek quick turnaround trades. Direxion’s Leveraged ETFs can [amplify trades by up to 300%](, so you can take a bigger position on your most confident bets without using more capital. Or, if you believe that an index's price will fall instead of rise, you can [use Inverse ETFs to bet on the dips](. Direxion’s ETF Education Center is stuffed with tools for advanced traders: [discover how the risk-tolerant tailor their trades](. [Find Out More]( An investor should carefully consider a Fund’s investment objective, risks, charges, and expenses before investing. A Fund’s prospectus and summary prospectus contain this and other information about the Direxion Shares. 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The leveraged and inverse ETF utilize derivatives, such as futures contracts and swaps which are subject to market risks that may cause their price to fluctuate over time. The leveraged and inverse ETFs do not attempt to, and should not be expected to, provide returns which are a multiple of the return of their respective index or underlying security for periods other than a single day. The leveraged and inverse ETFs may also subject to leverage, correlation, daily compounding, market volatility and risks specific to an industry, sector or company. The non-leveraged ETFs are subject to certain risks, including imperfect index correlation and market price variance, which may decrease performance. The non-leveraged ETFs may invest in a relatively small number of issuers and, as a result, be subject to greater risk of loss with respect to its portfolio securities. The non-leveraged ETFs may experience greater fluctuation in its net asset value as compared to other investments. The non-leveraged ETFs may be appropriate for investors with a long-term investment time horizon, who primarily seek capital growth, and who are able to tolerate periods of prolonged price declines. Please read each ETF’s prospectus for a more complete description of the investment risks. There is no guarantee that an ETF will achieve its investment objective. Distributor: Foreside Fund Services, LLC. Finimize is unaffiliated with Direxion or Foreside Fund Services, LLC. When you support our sponsors, you support us. Thanks for that. If you want your brand featured here, [get in touch.]( The Rate Is Over [The Rate Is Over] What’s going on here? After four years of interest rates moving only one way, the Bank of England (BoE) finally [dropped]( them to 5% from a 16-year high of 5.25%, following a narrow five-to-four vote. What does this mean? The cut is a vote of confidence in the central bank’s campaign against rampant inflation. And on top of trimming rates, the BoE upgraded the UK’s economic forecast, predicting an uptick of 1.25% rather than the previous 0.5% this year, and a 1% increase for next year. The move follows the European Central Bank’s trim earlier this summer, and comes a day after the Federal Reserve hinted about a cut as soon as September. Why should I care? Zooming out: Path of the pound. The pound has been the only G10 currency to rise against the dollar this year, largely thanks to bets that the BoE would keep rates high while others eased off. So the news of lower rates – which tend to turn investors off a currency – meant the pound took a hit against the dollar on Thursday. The currency’s crystal ball is cloudy, though. Unlike the euro and the dollar, the pound has been buoyed by a new government that many believe will bring stability after years of chaotic policies and volatile markets. That said, if inflation continues to fall, the BoE could slice rates again in September, provoking a similar reaction from investors. The bigger picture: Stepping out. The UK has been overshadowed by the US stock market for the past decade, mainly because heavy-hitting tech companies are rooted on stateside soil. But this rate cut could give the FTSE 100 Index – home to London’s biggest companies – a leg up. After all, about three-quarters of the index’s companies are major international firms, which make money in dollars but report profit in pounds. So when you need more pounds to match a buck, the companies end up looking more profitable. You might also like: [Schroders’ five best UK stocks to buy.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? 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