JPMorgan buyback, Goldman dividend, Salesforce in freefall

JPMorgan Chase announced a $50 billion share repurchase and a 10% dividend increase, while Goldman Sachs lifted its quarterly payout 11% to $5 per share. Both moves came after the Fed’s stress test confirmed all 32 big banks can weather a severe recession, signalling confidence in capital strength.

Salesforce’s shares have tumbled more than 30%, now trading around 11 × forward earnings after 14 consecutive losing days. The dip pushes the cloud giant to its lowest valuation since early 2023, reviving debate over whether the sell‑off reflects fundamentals or broader SaaS fatigue.

Meta posted a record $56.3 B Q1 revenue, then announced 8,000 layoffs. Weeks earlier it granted six senior execs stock options that could total $921 M each if the company hits a $9 T market cap. The juxtaposition raises questions about governance and incentive alignment.

The Fed’s June 2026 stress test found all 32 large banks could absorb over $708 billion in losses in a severe recession, with aggregate capital falling only 1.6 percentage points and staying above required levels. The results won’t change capital requirements as the Fed overhauls its regulatory framework.

New Fed chair Kevin Warsh kept the benchmark rate at 3.5‑3.75% and pledged "price stability," signaling that higher borrowing costs may persist. He warned the Fed can’t directly control items like gas or groceries, but will try to contain spill‑over effects on the broader economy. Inflation remains sticky, especially after the Iran conflict.

Walmart is buying Vibe.co, a self‑serve connected‑TV ad platform, to let small and mid‑size brands launch and measure streaming TV campaigns through Walmart Connect. The move widens the retailer’s ad ecosystem, giving it a foothold in the fast‑growing CTV market and a direct challenge to Amazon’s retail‑media dominance.

Morgan Stanley limited redemptions at its $7 billion North Haven Private Income Fund, covering only 43% of the 11.6% withdrawal requests in Q2. The move underscores mounting liquidity pressure in private credit funds and raises concerns for investors needing cash amid broader market stress.

CATL's massive battery megafactory in southern China can charge EVs to 250 miles in under 10 minutes, outpacing US rivals. US lawmakers warn that reliance on such Chinese tech could give Beijing leverage over critical industries and undermine American manufacturing. The race to dominate next‑gen batteries now pits US supply‑chain security against China’s rapid rollout.

The Trump administration is urging Meta, the only major U.S. AI developer still refusing voluntary reviews, to submit its frontier models for federal safety assessment. The push follows a recent order for Anthropic to pull its latest model, signaling tighter government scrutiny of AI risks. Meta’s compliance, or lack thereof, could reshape industry‑government dynamics.

Tesla, Sunrun and Renew Home announced a framework to aggregate more than 16 GW of residential batteries, solar panels and smart thermostats into a virtual power plant for AI data centers. The distributed capacity can be deployed in months, easing grid congestion and letting households earn rewards while avoiding costly new infrastructure.