The Steross Market and Investing Thread

Host: Nike is saying they're going to take a hit of about $1 billion because of the tariffs that they're going to need to offset with higher prices. Adidas, a $230 million hit, will have to raise prices. Walmart has warned of looming price increases. Ford, they're saying they're going to take at least a $3 billion hit

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Thanks Donald🤮Thanks Republicans🤮Now “tax” the hell out of us so that your filthy rich friends (some of whom are probably pedofiles) can get permanent huge tax breaks while 98% of us suffer. 😡
 
Host: Nike is saying they're going to take a hit of about $1 billion because of the tariffs that they're going to need to offset with higher prices. Adidas, a $230 million hit, will have to raise prices. Walmart has warned of looming price increases. Ford, they're saying they're going to take at least a $3 billion hit

So my EPL team just transferred to Adidas for their apparel/uniforms. I buy a New Jersey or two for every season. My $100.00 (pre-tariff) jersey ended up costing me almost $140.00. I’m a LFC fanatic so I’ll still buy, but….damn. It’s very clear to me from personal experience who pays the tariff….and it ain’t Adidas.
 
Host: Nike is saying they're going to take a hit of about $1 billion because of the tariffs that they're going to need to offset with higher prices. Adidas, a $230 million hit, will have to raise prices. Walmart has warned of looming price increases. Ford, they're saying they're going to take at least a $3 billion hit

If the DOW has a 2000+ point down day we'll know one reason why.
 
Wholesale prices unexpectedly jumped 0.9% in July, the biggest monthly proce increase in three years. Even worse, machinery and equipment wholesaling rose 3.8%.

 
So my EPL team just transferred to Adidas for their apparel/uniforms. I buy a New Jersey or two for every season. My $100.00 (pre-tariff) jersey ended up costing me almost $140.00. I’m a LFC fanatic so I’ll still buy, but….damn. It’s very clear to me from personal experience who pays the tariff….and it ain’t Adidas.
I have ordered a few things from the Spurs Shop. I can never quite seem get the size right. Due to a medical condition I have recently lost a lot of weight. Now I really have no idea what size to order, and I will have to pay a tariff fee on top of that. Should be interesting.
 
Fox: Markets selling off because July PPI inflation came in up 0.9%, worse than estimated at 0.2%. Year-over-year up 3.3%, versus the estimate of 2.5%. It's troubling

 
Wholesale prices unexpectedly jumped 0.9% in July, the biggest monthly proce increase in three years. Even worse, machinery and equipment wholesaling rose 3.8%.

That increases the chance that Trump will issue stimulus checks, in order to head off a recession, while not worrying that it didn't work for Bush.
 

Michigan GOP House Rep. Blasts Trump in Newspaper Op Ed Over Nvidia Deal​

A Republican congressman has broken party ranks to very publicly criticize Donald Trump in an opinion piece for the same newspaper the president seems to hate more than any other media outlet right now.​


John Moolenaar, a GOP House Representative for Michigan who enthusiastically backed Trump’s “Big Beautiful Bill” as a piece of “vital legislation” earlier in July, offered a near-surgical dissection of the MAGA leader’s recent deal with a U.S. tech giant in a letter to the Wall Street Journal—titled “Trump Takes a Wrong Turn on Nvidia’s Chips.”


Trump is suing the WSJ for a cool $10 billion, claiming the newspaper’s July article about a bizarre and sexually suggestive birthday card he’s alleged to have once sent convicted sex trafficker Jeffrey Epstein was “false, malicious, and defamatory.”

Moolenaar’s letter took a scalpel to the president’s decision last week to permit AI computer chip manufacturer Nvidia to sell advanced hardware to China, in exchange for the tech giant paying 15 percent tariffs to the White House on sales to the authoritarian Asian country.


The arrangement followed after Nvidia CEO Jensen Huang, whom Trump has described as “my friend,” begged the MAGA leader to overturn a Commerce Department policy, implemented in April, that had otherwise restricted those exports, costing Nvidia an estimated $5.5 billion in the process.

Trump personally owns at least half a million dollars’ worth of Nvidia stock, the Washington Post reported this week.

Moolenaar described allowing U.S. companies to sell “export-controlled technologies to China, while paying the government a percentage of the sales,” as a worrying “departure from precedent” given such technologies are “controlled because of their potential to harm national security should they fall into nefarious hands.”

To win in the budding AI arms race, as well as triumph in “our broader rivalry with China,” the Michigan representative suggested it is imperative to “treat advanced chips as strategic assets, not ordinary trade goods.”


He went on to say “the president’s proposal also raises constitutional concerns,” given he is of the view “Congress, not the executive branch, has the authority to tax, raise revenue and appropriate funds,” adding that legislation Trump has himself signed into law, namely the 2018 Export Control Reform Act, “explicitly forbids charging fees for export licenses.”

“Taking a percentage of sales revenue in exchange for a license violates that—regardless of whether it is labelled ‘license condition’ or ‘revenue sharing,’” he concluded.
 
Well, that is what would have happened prior to this administration. But those that oversee policy decisions are now fired if they oversee policy decisions.
This is true, but the only difference I acknowledge is that they don't GAF to try to hide it now. They were doing under the table sh*t before, they just at least tried to not make it obvious. I've never seen anyone suffer any sort of consequences.
Now, these folks are just blatant about it and I'd venture to guess it's because of the bolded part.
 
Artificial Intelligence is exactly that: artificial. There isn't any intelligence to be found.

AI will be useful for certain tasks, but has been completely oversold. Someone will be caught holding the bag.
As some one who works in the creative/production industry it's definitely got people worried.
 
I use it daily for work. It functions where it functions, and is very limited elsewhere.
Disagree — it is not limited.
It has become dominant for “customer service” for large corporations and making in-roads for smaller companies. Already it performs chat-bot services for hundreds of thousands of companies and new vendors are showcasing “sentiment analysis” which will further define what we call “customer service”.
For operational efficiency, it has more than a toe-hold for logistics companies and in the not-too-distant future will be a major part of service deliveries both local and worldwide.
Not only are financial service firms significantly utilizing AI, but finance departments in major corporations and public sectors have started using.
AI is just barely in its infancy. As one pundit put it recently, AI just passed the “stone age”, the development and usage will grow exponentially in almost every industry.
 
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