>>Wall Street Closes Mostly Higher On Strong Earnings
(New York, NY) -- Wall Street closed Tuesday mostly higher on strong corporate earnings. Beverage giant Coca-Cola jumped nearly five percent after posting better than expected second quarter results. Falling oil prices also provided some lift as chip stocks continued to struggle. The Federal Reserve's decision on interest rates is due on Wednesday. At the closing bell, the Dow Jones Industrial Average gained 537 points to 52-747. The S&P 500 rose 15 points to 74-28. The Nasdaq lost 55 points to 24-876.
>>Canadians Spending Less On Travel To U.S.
(Undated) -- Canadians are spending less money on traveling to the U.S. as relations with our northern neighbors strain. According to a recent report from Statistics Canada, leisure trips to the U.S. dropped by two-point-two billion dollars while international travel for leisure increased by three-point-six billion dollars for Canadians. The report also found that family related travel to the U.S. decreased within the span of eleven months, but the decline was much slower than the drop recorded in leisure travel. According to the report, the findings reflect the lowest number of border crossings since 1972, excluding the pandemic period.
>>Musk Announces X Money
(Austin, TX) -- Elon Musk has launched a new financial service on his X social media platform. On Monday, the tech billionaire announced the launch of X Money, which will provide banking and financial services for X Premium and Premium-Plus subscribers. X Money is offering peer-to-peer payments and money transfers on X, as well as a deposit account insured by the FDIC. Subscribers can also receive a Visa debit card known as an "X card" for ATM withdrawals and in-person transactions.
>>Visa Trims 7% Of Workforce As AI Impacts Ops
(San Francisco, CA) -- Visa is cutting about seven percent of its workforce. The world's largest payment network plans to eliminate about 26-hundred jobs to streamline the company according to a memo confirmed by CNBC. CEO Ryan McInerny noted "AI is helping to accelerate" a transformation and "shape the way work gets done at Visa." Most of the layoffs will impact technology and product operations. Visa is set to report quarterly earnings after the market closes today.
>>Fed Reserve Kicks Off Meeting Ahead Of Rate Announcement
(Washington, DC) -- The Federal Reserve is expected to announce its interest rate decision today. A majority of investors polled believe the Fed will hold rates steady. Several Fed officials have recently expressed concern about persistently high inflation. President Trump is again calling for an interest rate cut. Speaking aboard Air Force One on Monday, Trump told reporters the new head of the Federal Reserve Kevin Warsh is doing a "fantastic" job, but the Reserve Board is "very political," and some members may have "bad intentions."
>>Boeing Posts Bigger Loss Than Expected
(Crystal City, VA) -- Boeing has reported a larger-than-expected loss for the second quarter. The aircraft manufacturer took a 280-million-dollar loss on the long-delayed Air Force One program to deliver a pair of 747s that will serve as the next generation Air Force One aircraft to the U.S. government, with the first delivery expected in 2028. Adjusting for one-time items, the company reported a net loss of 76 cents a share, compared with a net loss last year of 92 cents a share. In a note to staff, CEO Kelly Ortberg said "While two quarters don't make a year, if we work together and stay focused, we'll improve our competitiveness and set ourselves up for a big second half."
