Thursday’s headlines paint a busy picture for markets and policymakers. Snowflake saw its stock jump on strong demand for its AI products, while Intel scored a $5.7 billion boost backed by the government.
On the macro side, US GDP grew 3.3% in the second quarter, signaling a solid economic rebound.
Meanwhile, Fed Governor Lisa Cook pushed back against Trump’s firing order, adding a political twist to the week. Investors and officials alike are navigating a fast-moving and unpredictable landscape.
A glance at the biggest stories capturing attention today.
Fed Governor pushes back against Trump
Federal Reserve Governor Lisa Cook isn’t going down without a fight. After President Trump ordered her removal earlier this week, Cook has struck back with a lawsuit challenging what she calls an illegal power grab.
Trump’s justification for firing Cook? He pointed to mortgage fraud allegations from 2021, accusations that surfaced years before she was even confirmed by the Senate.
The Justice Department opened a criminal investigation into Cook after she was accused of making false statements on home mortgage applications, allegedly claiming properties in Michigan and Georgia were each her primary residence to potentially secure better loan terms.
As per the Cook’s legal team, Trump is using these old allegations as cover to remove someone who wouldn’t bend to his demands for aggressive interest rate cuts. Read full report here
Snowflake soars on AI cloud growth
Snowflake’s stock jumped nearly 20% after it reported a strong second quarter. The company brought in $1.1 billion in revenue, up 32% from a year ago, and earnings of $0.35 per share beat expectations by a wide margin.
Investors cheered after Snowflake raised its fiscal 2026 revenue forecast to $4.4 billion, citing growing demand for its AI-powered data cloud.
More than 6,100 accounts are now using its AI tools weekly, showing that businesses are increasingly relying on its platform.
The stock’s surge was one of the biggest single-day moves for Snowflake this year, reflecting confidence in the company’s role in AI and cloud analytics, and analysts quickly updated their price targets. Read full report here
Intel secures $5.7B boost from government deal
Intel received a $5.7 billion boost Wednesday night thanks to a historic investment deal negotiated under former President Donald Trump, CFO David Zinsner said at an investor conference.
The cash comes as part of a larger agreement in which the US government picked up a 10% stake in Intel to help the chipmaker navigate financial challenges.
The deal also encourages Intel to keep control over its contract manufacturing business, known as the foundry.
On top of that, the government holds a 5% warrant that would kick in only if Intel’s foundry ownership drops below 51%, though the company expects that the warrant will probably never be used.
This investment draws on grants promised under the CHIPS and Science Act that haven’t been paid yet.
Intel is in the process of separating its chip manufacturing from its design operations and has established a management board for the foundry division. The stock slipped a bit after the news, trading near $25.00.
US GDP surges 3.3% as consumer spending climbs
The US economy bounced back strongly in the second quarter of 2025, growing at an annual rate of 3.3%, according to updated figures from the Commerce Department.
That’s a big turnaround from the 0.5% contraction in the first quarter. The rebound was driven largely by a sharp 29.8% drop in imports, which helped lift GDP, along with a 1.6% rise in consumer spending.
The first-quarter slump had been fueled by businesses and households stockpiling imports ahead of tariffs from the Trump administration.
Even though investment and exports fell, the combination of lower imports and stronger consumer activity pushed growth well past initial expectations. Read full report here
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