>>Ahead Of The Bell
(New York, NY) -- The opening bell rings this morning to kick off a fresh trading week after stocks closed sharply lower Friday. The major averages traded lower out of the gate after a much weaker than expected jobs report for last month fueled worries that a recession may be possible in the near future. It comes after the Federal Reserve left interest rates unchanged earlier this week and suggested a rate cut could happen in September. At the closing bell, the Dow Jones Industrial Average fell by 610 points to 39-737. The S&P 500 lost 100 points to 53-46. The Nasdaq dropped by 417 points to 16-776.
>>This Week In Business News
(Undated) -- Coming up in the business week ahead, nothing much to speak of until Tuesday with the release of the U.S. trade deficit. Earnings results out the same day include the likes of Uber, Reddit and Caterpillar. Data on consumer credit comes out Wednesday with investors keeping a close eye out for earnings from Walt Disney, CVS Health and Team USA outfitter Ralph Lauren. Weekly jobless claims are due Thursday, along with wholesale inventories and earnings from Frontier Group Holdings, Paramount Global and Eli Lily. The week wraps up Friday with no notable economic reports on the calendar.
>>Neuralink Implants Second Patient
(Fremont, CA) -- Elon Musk says his company Neuralink has put a brain implant in a second patient. The device aims to allow paralyzed people to use digital devices with their thoughts. Musk says the implantation was successful and that the company plans to implant eight more patients this year.
>>Tesla Recalls Over One-Million Vehicles Due To Unlatched Hood Issue
(Undated) -- Tesla is recalling over one-point-eight-million vehicles in the U.S. due to issues with the hood. The National Highway Traffic Safety Administration says the recall stems from issues with the software that detects when a hood is unlatched. If the Tesla's hood is fully open, it can obstruct the driver's view and cause a crash, according to the agency. Vehicles that are affected include certain 2021-2024 Model 3, Model S and Model X vehicles, along with Model Y vehicles manufactured since 2020. This marks Tesla's ninth recall of the year.
>>Chevron Moving To Houston
(San Ramon, CA) -- Chevron is the latest company to leave California for Texas. It's moving its corporate headquarters to Houston from their current location in San Ramon, California. The company says all their corporate functions will migrate to Houston over the next five years. California sued Chevron over what it claimed was a downplaying of climate change. Texas is known to have a more business-friendly tax environment.
>>Intel Cuts 15-Thousand Jobs
(Santa Clara, CA) -- Intel is cutting 15-thousand jobs, or about 15-percent of its workforce. Its CEO Pat Gelslinger made the announcement in a note to employees late last week. This comes as the company tries to save ten-billion-dollars in 2025 after posting "disappointing" second quarter results. He called it "an incredibly hard day for Intel as we are making some of the most consequential changes in our company's history." Gelslinger said the move was necessary as costs are currently too high with margins too low.
