Madrid is in a state of confusion as the Spanish general election leaves political parties uncertain. The prime minister is on holiday, adding to the uncertainty. Major stock indexes experienced a decline, but rebounded by the end of the week. The Federal Reserve announced a rate-hike campaign and highlighted concerns about high core inflation. However, positive macroeconomic indicators like economic growth surpassing expectations and increased consumer confidence suggest the possibility of avoiding a recession. In the tech sector, Microsoft disappointed investors with slowed growth, while Google and Meta (formerly Facebook) showed success in AI. Intel, despite a 15% decrease in revenue, remains optimistic about AI growth. Big banks faced increased capital requirements, and Banc of California announced a merger. Intel Corporation reported strong second-quarter financial results, driven by growth in the client segment. However, the datacenter results were less favorable, and server demand remains weak. Analysts expressed mixed opinions regarding Intel's performance in sectors like AI, with some concerned and others more optimistic about market share gains and improvement under the new CEO. Overall, Intel's second-quarter results and guidance were considered positive.

The Digest, 7/29/2023 @200AM, CDT

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