Fed Governor resigns early, BLS chief fired after July services PMI drops to 50.1. Palantir revenue hits $1B with 600% stock surge, GLP-1 drugs fall to $499/month, 10M children in poverty. Tariff threats reach 250%, Caterpillar faces $1.5B loss. New Rochelle housing model limits rent growth to 1.6%.

Goldman Sachs' August 6 bombshell report exposes China's internet giants facing their biggest profit crisis since Q2 2022, with sector-wide earnings down 10% while AI cloud services surge 23%. The Big Three—Alibaba, Meituan, JD—are hemorrhaging profits (16%-70% decline) as they pour 30B+ yuan into instant delivery warfare. Tencent emerges victorious with 15% profit growth fueled by Delta Force's 9B yuan blockbuster and AI innovations. Market dynamics shift from duopoly dominance to three-way battle as competition intensity peaks in September quarter.

BofA Securities August report exposes copper tariff turmoil: CME-LME spread collapsed from record 30% to zero in single day as US stockpiled 600kt (40% annual demand). Report identifies LME-CME spread as strongest mean-reversion relationship outside energy pairs. Recommends overweight gasoline, soymeal, precious metals while underweight WTI crude. 16% effective tariff rate reinforces stagflation risks with 6-month positive outlook for Brent and industrial metals.