market

Shares of Nvidia (NVDA -0.01%) are down 3% in Wednesday’s after-hours trading as of 7:42 p.m. ET, following the artificial intelligence (AI) tech leader’s release of its report for its second quarter of fiscal 2026 (ended July 27, 2025).

The stock’s modest decline can likely be mainly attributable to the uncertainty still surrounding the Chinese data center market. On the earnings call, management said it has received U.S. government licenses to resume selling its H20 data center AI chip to several Chinese customers, and that it has the immediate capacity to sell $3 billion to $5 billion of these chips to China in the third quarter. However, due to geopolitical issues still being “open,” as management put it, it did not assume any H20 sales in its third-quarter guidance.

That said, Q2 revenue and adjusted earnings per share both beat Wall Street’s estimates, as did Q3 guidance for both the top and bottom lines.

In my Nvidia earnings preview, this chain of events is as I predicted: “I’m predicting it [Nvidia] will beat Wall Street’s earnings estimate. That said, I think the stock’s movement will largely depend on H20 news and related Q3 guidance.”

Image source: Getty Images.

Nvidia’s key numbers

Data source: Nvidia. YOY = year over year. GAAP = generally accepted accounting principles. Fiscal Q2 2026 ended July 27, 2025.

Investors should focus on the adjusted numbers, which exclude one-time items.

Wall Street was looking for adjusted EPS of $1.01 on revenue of $46.13 billion, so Nvidia exceeded both expectations. It also handily beat its own guidance, which was for adjusted EPS of $0.98 on revenue of $45 billion.

For the quarter, GAAP and adjusted gross margins were 72.4% and 72.7%, respectively.

Platform performance

Data source: Nvidia. OEM = original equipment manufacturer; OEM and other is not a target-market platform. YOY = year over year. QOQ = quarter over quarter.

The data center segment’s revenue accounted for about 88% of total revenue, so it continues to drive the company’s overall performance.

The data center platform’s strong year-over-year and sequential growth was driven by “demand for our accelerated computing platform used for large-language models, recommendation engines, and generative and agentic AI applications,” Colette Kress said in her CFO commentary.

Notably, within data center, Blackwell revenue grew 17% sequentially. Blackwell is Nvidia’s graphics processing unit (GPU) architecture that is currently in full production.

The other platforms also performed very well. Auto had particularly powerful year-over-year growth. Its growth was driven by “strong adoption of our self-driving platforms,” Kress said. The driverless vehicle revolution is advancing — and Nvidia is the best driverless vehicle stock, in my view.

What the CEO had to say

CEO Jensen Huang stated in the earnings release:

Blackwell is the AI platform the world has been waiting for, delivering an exceptional generational leap — production of Blackwell Ultra is ramping at full speed, and demand is extraordinary. Nvidia NVLink rack-scale computing is revolutionary, arriving just in time as reasoning AI models drive orders-of-magnitude increases in training and inference performance. The AI race is on, and Blackwell is the platform at its center.

Guidance for the third quarter

For Q3 of fiscal 2026, which ends in late October, management expects revenue of $54 billion, which equates to growth of 54% year over year. This outlook does not assume any H20 chip sales to China.

Management also guided (albeit indirectly by providing a bunch of inputs) for adjusted EPS of $1.22, or 51% growth.

Going into the report, Wall Street had been modeling for Q3 adjusted EPS of $1.19 on revenue of $52.76 billion, so the company’s outlook beat both estimates.

A fantastic quarter and guidance

In short, Nvidia turned in a fantastic quarter and guidance. The stock’s modest decline is likely due to short-term traders and will be recovered shortly, in my opinion.

The results were particularly impressive since they did not include any sales of H20 data center AI chips to China due to the U.S. government’s export controls spanning the entire quarter. And Q3 guidance was also particularly impressive for the same reason — it assumes no H20 sales to China. So any H20 chips that are sold to China in Q3 will be icing on the cake.

There was one specific spot I absolutely adored

It’s been described as a ‘handsome market town’ with ‘bags of character’, and is known for its picturesque Georgian streets, handsome Tudor and Georgian stone buildings and easy access to the rolling hills that surround it.

And earlier this summer, a 2025 guide named Farnham, on the western edge of Surrey, among the best places to live in the UK. I spent the day in the beautiful town exploring its huge array of independent shops, thriving arts scene, superb restaurants and peaceful parks. Farnham is currently undergoing a huge regeneration project called Brightwells Yard, which will see 239 new homes, 25 commercial units for shops and restaurants, a six-screen cinema, a multi-storey car park and landscaped public open spaces.

Roadworks in the town centre are expected to continue until early 2027. But I didn’t let that put me off, and I parked in the Sainsbury’s car park and wandered around the pretty neighbourhood on foot.

I first visited Gostrey Meadow, and it painted a picture for the whole neighbourhood. There was a real community feel about the place with children playing in a new playground (opened in July) and families enjoying picnics under serene willow trees by the trickling River Wey.

On Sunday afternoons throughout the summer, people can gather around the bandstand and listen to live jazz music on the lawn for free. I bought a coffee from Jamie’s Coffee van and watched ducks bob along the water before moving on to Farnham Maltings.

The superb arts centre in Bridge Square is situated along the river, and it’s in a picturesque location for watching shows or participating in workshops. I only walked past on my way to Downing Street (not the London one), but I nearly stopped at its café as it sold tempting artisan sourdough, open Danish sandwiches.

Downing Street, which is currently closed to some traffic but not pedestrians, is a hidden gem for mooching around independent shops and quaint eateries. I stopped at a glorious little little spot called Hamilton’s Tea House half way up the street for a snack.

As I sat down at a table by the window, I looked around and noticed all three fellow diners were tucking into scones which immediately made me fancy one. By the counter I could see a display of huge plain, sultana and cheese scones and I gave in and ordered a fruit one (£4).

Served on a rectangular plate with butter, a mini pot of clotted cream and a jar of strawberry jam, I quickly understood why it was a hit among the other customers. Ultra light and fluffy, and incredibly buttery and moreish, I devoured the lot, not leaving a crumb.

With my sweet tooth satisfied, I continued walking up the quaint road, popping my head into a charity shop along the way, before I reached The Borough and then Castle Street home to familiar chain restaurants including Gail’s Bakery, Caffe Nero, Bill’s, Giggling Squid and Pizza Express.

On the corner was The Castle pub, a stunning gastropub set within a beautiful Grade two listed Georgian townhouse. Stylish yet relaxed, it boasted a hidden covered courtyard garden at the rear offering a tranquil oasis from the bustle of town life.

On the outskirts of the main town centre was Waverley Abbey, Farnham Castle, Birdworld, Farnham Park, Museum of Farnham, Bourne Mill Antiques Centre and Alice Holt Forest, so you could really spend a weekend there. On the fourth Sunday of every month, a farmers’ market takes place in Central Car Park.

I really enjoyed exploring the pretty Surrey town and I would happily move there tomorrow. It felt safe, clean and was bursting with character. I absolutely adored Gostrey Meadow, it was my favourite bit.

Farnham is a popular place to live for young professionals and families, especially those looking to escape the city for an idyllic rural life but still with easy access to the capital. There is a regular and direct train service from Farnham to London Waterloo which usually takes around 90 minutes.

According to Rightmove, house prices in Farnham have an overall average of £611,117 over the last year. This is just above the Surrey average of £598,462.

The majority of properties sold in Farnham during the last year were detached properties, selling for an average price of £897,765. Semi-detached properties sold for an average of £538,557, with terraced properties fetching £435,120.

The S&P 500 and Nasdaq Composite are hovering around all-time highs. A big part of the rally is investor excitement for sustained artificial intelligence (AI)-driven growth and adjustments to Federal Reserve policy that open the door to interest rate cuts.

While investor sentiment and macroeconomic factors undoubtedly influence short-term price action, the stock market’s long-term performance ultimately boils down to earnings.

Nvidia (NVDA 1.10%) will report its second-quarter fiscal 2026 earnings on Aug. 27 after market close. Here’s why expectations are high, and why the “Ten Titans” stock could single-handedly move the S&P 500.

Image source: Getty Images.

Nvidia’s profound impact on the S&P 500

The Ten Titans are the largest growth stocks by market cap — making up a staggering 38% of the S&P 500.

Nvidia is the largest — with a 7.5% weighting in the index.

The other Titans are Microsoft, Apple, Amazon, Alphabet, Meta Platforms, Broadcom, Tesla, Oracle, and Netflix.

Aside from its value, Nvidia is also a major contributor to S&P 500 earnings growth.

NVDA Market Cap data by YCharts

Megacap tech companies influence the value of the S&P 500 and its earnings. And since many of the top earners are growing quickly, the market arguably deserves to have a premium valuation.

Since the start of 2023, Nvidia added roughly $4 trillion in market cap to the S&P 500. But it also added over $70 billion in net income — as its trailing-12-month earnings went from just $5.96 billion at the end of 2022 to $76.8 billion today. That’s like creating the combined earnings contribution of Bank of America, Walmart, Coca-Cola, and Costco Wholesale in the span of less than three years.

Nvidia’s value creation for its shareholders, and the scale of just how big the business is from an earnings standpoint, is unlike anything the market has ever seen. But investors care more about where a company is going than where it has been.

Nvidia’s unprecedented profit growth

Expectations are high for Nvidia to continue blowing expectations out of the water. Over the last three years, Nvidia’s stock price rose after its quarterly earnings report 75% of the time. Analysts have spent the last few years flat-footed and scrambling to raise their price targets as Nvidia keeps raising the bar. It looks like they aren’t making that mistake any longer — as near-term forecasts are incredibly ambitious.

As mentioned, Nvidia’s trailing-12-month net income is $76.8 billion, which translates to $3.10 in diluted earnings per share (EPS). Consensus analyst estimates have Nvidia bringing in $1 per share in earnings for the quarter it reports on Wednesday and $4.35 for fiscal 2026. Going out further, analyst consensus estimates call for 37.8% in earnings growth in fiscal 2027, which would bring Nvidia’s diluted EPS to $6 per share.

NVDA Net Income (TTM) data by YCharts

Based on Nvidia’s current outstanding share count, that would translate to net income of $107.7 billion in fiscal 2026 and $148.5 billion in fiscal 2027. Unless other leaders like Alphabet, Microsoft, or Apple accelerate their earnings growth rates, Nvidia could become the most profitable U.S. company by the time it closes out fiscal 2027 in January of calendar year 2027. These projections strike at the core of why some investors are willing to pay so much for shares in the business today.

The key to Nvidia’s lasting success

Nvidia can single-handedly move the stock market due to its high weighting in the S&P 500. However, its influence goes beyond its own stock, as strong earnings from Nvidia could also be a boon for other semiconductor stocks, like Broadcom. But the ripple effect is even more impactful.

In Nvidia’s first quarter of fiscal 2026, four customers made up 54% of total revenue. Although not directly named by Nvidia, those four customers are almost certainly Amazon, Microsoft, Alphabet, and Meta Platforms. So strong earnings from Nvidia would basically mean that these hyperscalers continue to spend big on AI — a positive sign for the overall AI investment thesis.

However, Nvidia’s long-term growth and the stickiness of its earnings ultimately depend on its customers translating AI capital expenditures (capex) into earnings — which hasn’t really happened yet.

ORCL CAPEX To Revenue (TTM) data by YCharts

Cloud computing hyperscalers are spending a lot on capital expenditures (capex) as a percentage of revenue — showcasing accelerated investment in AI. But eventually, the ratio should decrease if investments translate to higher revenue.

Investors may want to keep an eye on the capex-to-revenue metric because it provides a reading on where we are in the AI spending cycle. Today, it’s all about expansion. But soon, the page will turn, and investors will pressure companies to prove that the outsize spending was worth it.

The right way to approach Nvidia

Almost all of Nvidia’s revenue comes from selling graphics processing units, software, and associated infrastructure to data centers. And most of that revenue comes from just a handful of customers. It doesn’t take a lot to connect the dots and figure out just how dependent Nvidia is on sustained AI investment.

If the investments pay off, the Ten Titans could continue making up a larger share of the S&P 500, both in terms of market cap and earnings. But if there’s a cooldown in spending, a downturn in the business cycle, or increased competition, Nvidia could also sell off considerably. So it’s best only to approach Nvidia with a long-term investment time horizon, so you aren’t banking on everything going right over the next year and a half.

All told, investors should be aware of potentially market-moving events but not overhaul their portfolio or make emotional decisions based on quarterly earnings.

In this podcast, Motley Fool contributors Tyler Crowe, Lou Whiteman, and Rachel Warren discuss:

• OpenAI CEO Sam Altman’s comments about AI bubbles.
• Target and Estee Lauder under new leadership.
• Home Depot and Lowe’s in a race to own the building products space.

To catch full episodes of all The Motley Fool’s free podcasts, check out our podcast center. When you’re ready to invest, check out this top 10 list of stocks to buy.

A full transcript is below.

This podcast was recorded on August 20, 2025.

Tyler Crowe: The AI market is in a frothy mood again, and there’s some big shake ups in retail. This is Motley Fool Money.

Welcome to Motley Fool Money. I’m Tyler Crowe, joined by longtime Fool contributors, Lou Whiteman and Rachel Warren. Second quarter earnings are coming to a close, but we still have some big companies reporting earnings and making some big management moves. Today, we’re going to cover management shakeups at Target and Estée Lauder and also some mergers and acquisitions activity in an arms race between Lowe’s and Home Depot. But before we begin with that, we’re going to start with everyone’s favorite family dinner conversation, which is, are we in an AI bubble? It’s been a driving force the AI story for much of the market in 2025. We’ve seen a lot of companies, more than double and post some incredible numbers so far this year, but it hasn’t been without hiccups. We had the DeepSeek crash, I guess, if you will, back in January, that sent markets into a tizzy. Then this week, I think it was actually over the weekend, OpenAI’s CEO Sam Altman actually said to reporters, and I quote, “Are we in a phase where investors as a whole are over excited about AI? My opinion is yes. Is AI the most important thing to happen in a very long time? My opinion is also yes.” Pretty bold and evocative statement from Sam Altman. In addition to those comments, we’ve seen some pretty sharp stock declines with some AI companies reporting earnings, and some of these darlings are down pretty considerably. Palantir is down almost 18% over the past week as of our recording, and CoreWeave the AI Data Center company is down 40% its reported earnings last week. Rachel and Lou, I want to toss this to you. Rachel, you can go first. What do you make of Sam Altman’s statement about AI and is the AI market looking bubbly to you?

Rachel Warren: I do think this was a really interesting comment from Mr. Altman, particularly given that OpenAI remains one of the most public and prominent players in the AI race. You remember many fears of an AI bubble hit a fever pitch earlier this year back when the Chinese start-up DeepSeek released their competitive reasoning model. They claimed that one version of their advanced large language models had been trained for under $6 million, and that’s compared to billions like OpenAI has spent. Then earlier this month, Altman said that OpenAI’s annual recurring revenue is on track to pass $20 billion this year, but they’re still unprofitable. Then the release of their latest GPT-5 AI model earlier this month, it wasn’t so great either, so much so that the company restored access to Legacy GPT-4 models for paying customers. I do think that we can trace some similarities to the dot-com bubble when you’re looking at the current AI boom. You have rapid surges in investment companies receiving massive funding rounds based on the potential of the underlying tech. Sometimes there isn’t a clear path to profitability. I do think that some companies might be getting a bit ahead of their skis in terms of valuation. But I think it’s important to underscore. AI is not just a blanket catch all term, even though it tends to be used that way. AI is everything from AI algorithms that are analyzing medical images to assisting doctors in faster and more accurate diagnoses to the AI that we see being used to control and automate robots and manufacturing, logistics and other industries. Major companies like Pfizer, Eli Lilly, Amazon, and others are incorporating AI into their everyday operations. The technology is real. It’s rapidly evolving, and it is here to stay. I think that’s the important point to remember.

Lou Whiteman: I think it’s so interesting because there’s what Altman said and the way the headlines have taken off with it the idea, we’re in a bubble, everything’s trouble. That’s not really what he said. We sometimes think of the word bubble and we think of worthless and think the same thing. We know that isn’t true. Some stocks can be in a bubble, but yet, there’s also something going on that’s creating something profoundly profitable, profoundly society changing over time. I think what Altman was trying to say is that, yes, some valuations are getting frothy, but, hey, investors, workers who might be getting poached by other companies, if things are frothy, if there could be winners and losers here, why don’t you want to just stay with one of the big winners, one of the big guns? I think he was talking to a specific crowd. I don’t think he was predicting gloom and doom.

Tyler Crowe: Certainly my take is, and I’ve said this before in other spaces, but the idea that the winner of AI has emerged, I think, is a little early. The best example I can give is Google, which emerged many years after Internet search had been a big thing with Yahoo, Netscape, Ask Jeeves, all these other options that have pretty much gone the way of the dinosaur, and I think we could see something relatively similar with late emerging opportunities, as well. Lou, when we think about opportunities and maybe a little bit from the lens I just mentioned, where are you seeing the opportunities for AI right now?

Lou Whiteman: Well, for one, back on the bubble thing, let’s just point out that we both had a dot-com bubble, and companies like Amazon emerged. Even if there is a bubble, valuations may be stretched, but there still will be long-term winners among the companies we’re talking about. For me, right now, it’s all about diversification, whether it’s Amazon or if it’s Apple or Microsoft and Alphabet, these are companies with a lot of ways to win, and AI is part of that. But take that versus a Palantir or CoreWeave where all of your eggs are in the AI basket. I would much rather be with a diversified company. I don’t really like the picks and shovels, though. I think these have gotten just as over valued or maybe even more so than some of the main players. I love the idea that we’re going to need energy, we’re going to need data centers. I think that’s all true, but I also think that that’s very priced in. If there is a bubble, I almost think it’s there and not just the big companies that are using it.

Tyler Crowe: Rachel, for investors who are trying to identify, like things with durable growth stories, durable advantages versus an AI hype play, how do you think investors should look at it as separating between the two?

Rachel Warren: I think, fundamentally, there needs to be a real business that’s underpinning that technology. Looking for companies that are solving tangible real world problems or maybe is being used to optimize existing processes, not just a company using AI for the sake of using AI. Then also when you’re looking at some of these businesses, are these AI applications providing clear value? How does a company plan to generate revenue from its AI business? Is this a sustainable model with potential for growth? Ultimately, I think, especially amid the AI boom where you’re trying to really separate the wheat from the chaff, so to speak, you need to be looking for companies with sustained revenue growth, healthy profit margins, and positive free cash flow, which suggests they’re generating enough cash to fund their operations and invest in their future AI growth. I think that’s why we get back to a lot of these major players like the Amazons and Alphabets, because there is a real business there, and they are incorporating massive revolutionary AI elements into their businesses which have remained the crux of their respective industries for decades.

Tyler Crowe: The AI story, I feel like we could go in so many different angles, but we are still in the midst of earning season. We’re going to move on, and coming up next, we’re going to look at two retailers who are looking to new leadership right now to turn their prospects around.

Target reported earnings earlier today that were well, less than great. Before we recorded this episode, we were planning on discussing Target’s earnings through the lens of tariffs because it’s been such a hot topic of lately. But then the company threw us a little bit of a curveball and announced that current chief operating officer Michael Fiddelke will be taking over the CEO spot from Brian Cornell, starting in February of 2026. Now, Target’s earnings did beat Wall Street’s expectations, but they were pretty low expectations to begin with, and it maintained its guidance for the rest of the year, and its stock was down 7% today as of this taping. What stood out to you in the earnings or the announcement of the CEO change? What can Fiddelke do to actually turn things around here?

Rachel Warren: I do think it’s important to highlight it. Target has a range of issues it’s facing right now, and they do predate the tariff environment. Some of these problems are related to the consumer, but a lot of Targets issues also go back to the waning days of the pandemic. We saw consumers pull back on expenditures as inflation increased, and they focused more on needs-based categories. There has been this real significant shift to value. In many cases, that has led consumers to competitors like Walmart. Targets also faced criticism and boycotts in recent years that have severely impacted sales, and it has yielded ground to competitors in key areas where it used to lead, HomeGoods being one vital category. As you noted, they just reported their Q2 sales and earnings. Net sales in the quarter were down 0.9% from a year ago, comparable sales fell 1.9%, operating income fell by 19.4%. They did see a 14% increase in non-merchandise sales. Their digital sales grew about 4%. Tariffs, of course, are likely to erode some of their profit margins. There’s also a very likely reality that they’re going to need to raise some prices, and that could impact consumer expenditures. Cornell will remain executive chairman, but I do think it’s clear that management is looking to right the ship, and they think that a new leader at the CEO helm is an important step. I do think Target can come back from this, but it’s going to require time and patience. Again, a lot of these issues predate what we’ve seen in its industry the last several months. One thing I’ll note, this is still a major dividend payer for investors, 54 consecutive years of dividend increases and counting. That might be one reason to look at Target on the dip right now.

Lou Whiteman: Can come back from it, but a big emphasis on can for me. I’m not ready to make a call, and I don’t want to be too scared here, but retail is full of seemingly just powerhouse brands that just suddenly disappear or lose their mojo. Again, I don’t know if that’s what’s going to happen to Target, but I think target investors have to be a bit worried here. Ask Cole’s investors, ask Sears investors, ask JCPenney’s investors. Big, well established brands can go from all as well to things go terribly wrong and not recover. I think, as Rachel said, this has been a long time coming. On the back end, you talk to Target suppliers, and they’ll say, we get dealing with two or three people a year. It’s just chaos. I’ll say this, I think Michael Fiddelke has a big task up ahead just to stabilize a business that doesn’t feel stable to me. I’m hopeful, but I don’t think it’s a slam dunk because guys, honestly, what does Target bring to the retail table that you can’t get somewhere else? What is their go to thing? I can’t answer that question, and if I was thinking of investing, that would really scare me.

Tyler Crowe: It is a tough question to ask, and at the same time, I don’t think it’s a coincidence that a lot of the retailers and brands and a lot of the companies we’ve been talking about have been struggling is coming in a pretty volatile post COVID world. I think a lot of companies have been shaken to their core and haven’t quite found their way out of the woods yet. In that same vein of new leadership, Estée Lauder reported its fiscal fourth quarter earnings today, as well. Sales were down 8% for the year. Net income swung to a huge loss, but a lot of that came from significant impairment and restructuring charges because new management came in and is looking to make significant changes. CEO Stéphane de La Faverie came in in January and took over for longtime serving CEO, as well as displacing the Lauder family a little bit, who have been tied to the C-suite, tied to the board. There was a little bit of corporate drama. I know the Wall Street Journal covered it pretty extensively coming up to that. But Rachel, I’m going to toss this to you. Do you think that this corporate shakeup that de La Faverie is proposing is going to really work, and will it allow Estée Lauder to get back on track to being a winning company that it was for as long as it was?

Rachel Warren: You’re right. This does have such an extensive history of being a winning company as one of the legacy players in the beauty space. I think the jury’s still out as to whether this turnaround will be effective. I do think that they still have a place in the industry, but it’s going to be an uphill battle. They are seeing sales declines across pretty much all of their core segments, and there are some very practical reasons for that. One being that Estée Lauder heavily and historically had relied on the Chinese market for growth, especially through tourist spending as well, and in European markets. But China in particular, their luxury market has experienced a significant slowdown, and that’s really impacted Estée Lauder sales, and a lot of their strategies through the years, which had been really successful in the past, have failed to resonate with the latest and youngest generation of beauty consumers, and it has become an increasingly competitive space in the years since Estée Lauder’s heyday. This is also a company that was slow to adapt to the shift toward online beauty sales and online shopping. We saw even competitors like L’Oréal that invested more heavily in online channels. Estée Lauder continues to face really fierce competition from other emerging beauty and skincare brands. One obvious example is e.l.f. which just acquired Haley Bieber’s brand Rhode and also owns many other key brands in the modern beauty space. Of course, now there’s the tariff factor that is compressing margins across the industry. Estée Lauder, they have had significant workforce reductions. They’ve been shifting their marketing strategy. They’ve been reevaluating some of their supplier relationships. But time will tell the environment they’re operating in now is very different than that of 15 or 20 years ago.

Tyler Crowe: In the age of TikTok, airport duty free seems a little outdated in terms of your dedicated sales model. Next up, we’re going to talk about Home Depot’s and Lowe’s who are taking a very different approach to slugged growth in the past couple of years. Does it ever feel like you’re a marketing professional just speaking into the void? Well, with LinkedIn ads, you can know you’re reaching the right decision makers. You can even target them by job title, industry, company, role, seniority, skills, company revenue, and did I say job title yet? Get started today and see how you can avoid the void and reach the right buyers with LinkedIn ads. To get 100 pounds off your first campaign, go to linkedin.com/lead to claim your credit. Terms and conditions apply. We just discussed two retailers looking to new leadership to shake things up, but home improvement retail has also been moving and shaking quite a bit in the past couple of years. But instead of fresh faces in the front of the C-suite, they’re actually looking to acquire their way out of a slump. Just today, when Lowe’s announced their earnings for the quarter, it was also announced it was buying building products distributor foundation building materials from a private equity company for about $8.8 billion. Now, this just comes a few months after Home Depot announced it was acquiring GMS, its second specialty building products distribution company in as many years. Now, Home Improvement retail has been in the dumps for a myriad of reasons of interest rates, COVID. You name your crisis over the past five years. I want to start with Lou this time. What do you make of these moves of moving into professional contracting specialty product distribution?

Lou Whiteman: Tyler, I can’t answer this without bringing up a third company, QXO, which is also trying to consolidate this industry. They, of course, are run by Brad Jacobs, who has consolidated the tool rental industry, has consolidated trucking, has consolidated waste. Whether or not QXO ends up being a success, I do believe Brad Jacobs knows how to identify a market ripe for a roll up. I have no idea if he assumed Home Depot and Lowe’s will goes aggressively in when he started QXO or if this is turning into a problem. But I do think if you look at there’s 75,000 very small little companies here. It’s fragmented the logic of a roll up and a logic for a Home Depot or Lowe’s to go in and try to roll up this industry. It’s there, and I think on paper, at least, it makes sense, whether it works for Lowe’s, whether it works for Home Depot, that we’ll have to see.

Rachel Warren: I think if you take a step back, this makes a lot of sense. First of all, it’s worth pointing out that Home Depot commands a much larger market share and significantly higher revenue than Lowe’s, and it has a more extensive store network. It’s historically really focused on serving professional contractors. Those represent something like half or about 45% of its sales, and Lowe’s needs to gain ground here. Its recent moves make sense. They also recently acquired a company called Artisan Design Group for $1.3 billion as they’re really trying to strengthen their presence in the new home construction market, expand their pro services. They have rolled out their total home strategy, where they’re looking to be a one stop shop for DIY as well as pro customers. But the reality of the environment in which Home Depot and Lowe’s are operating in remains, we know that high interest and mortgage rates have discouraged home buying and selling. Consumers are allocating their spending to other areas. I think that these are both, solid value driven businesses. Focusing on the pro market, I think is a right move for them. But I do think we’re going to continue to see sluggish growth figures unless and until the environment in which they’re operating starts to relax and we start to see growth again.

Tyler Crowe: It feels like the building products industry specifically has been a little bit of a small fish, or bigger fish eat smaller fish until another bigger fish comes along. Lou, I’m going to ask this last question. Is there enough room in this market for basically three giant sharks? I’m including three because you really pitched QXO so well. If Home Depot’s, Lowe’s, and QXO are all simultaneously looking at major roll ups, is there enough room for them to eat?

Lou Whiteman: There is enough in theory. My fear is what this does to pricing. Not all assets are created equal. I think I’d be surprised if Home Depot or Lowe’s wants to put too much more capital work here with these big deals they’ve done. I think that does provide a lane for QXO, but there’s a lot of work to be done. Not all assets are created equal, and it will be curious to see who makes the right decisions as far as capital allocation and who ends up with the right fortress asset at the end of the day when everything’s cobbled together.

Tyler Crowe: As always, people on the program may have interest in the stock they talk about, and the Motley Fool may have formal recommendations for or against, so don’t buy or sell stocks based solely on what you hear. All personal finance content follows Motley Fool editorial standards, and it’s not approved by advertisers. Advertisements are sponsored content and provided for informational purposes only. To see our full advertising disclosure, please check our [inaudible] . For Lou Whiteman and Rachel Warren, our production leader Dan Boyd and the entire Motley Fool Money team, I’m Tyler Crowe. Thanks for listening, and we’ll chat again soon.

Worried about a stock market drop hurting your retirement savings?

As someone who’s spent years writing about personal finance, I know how scary it can be to watch investments fluctuate. It’s even worse when you’re just about to retire.

The good news is there are lots of low-risk investment options that can protect your savings while still earning a decent return. Here are four reliable choices.

1. High-yield savings accounts (HYSAs)

If you want to keep full access to your cash while still earning solid interest, a high-yield savings account is a great starting point.

Many top online banks now offer HYSAs with rates at or above 4.00% APY. Key benefits to look for include:

• FDIC insurance up to $250,000 per account
• No monthly fees
• Little or no minimum balance requirements

Because of their flexibility, HYSAs are ideal for immediate cash needs. Whether it’s an emergency fund or short-term savings, your money can stay liquid while still earning a competitive rate.

Ready to earn more on your savings? Check out our favorite high-yield savings accounts available today.

2. Certificates of deposit (CDs)

CDs offer steady, predictable returns, allowing you to deposit money for a set amount of time in exchange for a guaranteed interest rate. That’s especially valuable if you want to protect your savings from market swings.

Many CDs’ rates are also hovering in the 4.00% range, meaning you can guarantee a strong return by locking up your money.

One smart way to keep your money accessible while still earning high rates is to set up a CD ladder. For example, you could open CDs that mature in 3, 6, 9, and 12 months.

This way, part of your money becomes available every few months while the other CDs keep earning. Then you can either use the earnings as needed or reinvest them to keep the ladder going.

Explore all of our favorite CDs and build a smarter savings strategy today.

3. Treasury bills (T-bills)

Treasury bills (T-bills) are another strong choice if you’re willing to lock in cash for a short period. These are short-term debt obligations offered by the U.S. government, with terms ranging from four weeks to a full year.

Right now, T-bills are offering yields around 4.00%. Retirees like them them because:

• They’re fully backed by the U.S. government
• The interest isn’t subject to state or local income taxes
• You can buy them in increments as little as $100

You can buy T-bills through a brokerage firm for a small fee, or directly from TreasuryDirect.gov.

Finally, a fixed annuity works similarly to a long-term CD, but often offers higher guaranteed returns — currently around 5% to 6% annually.

Like CDs, you deposit a lump sum, earn a fixed interest rate, and then receive payment — the difference being that your payments can be dispersed over time, instead of given in one lump sum. This turns your investment into a stream of income.

Deferred annuities let your money grow before payouts start, while immediate annuities provide income right away. When considering a fixed annuity, check for a death benefit so your heirs can receive any remaining funds if you pass away before the money is fully paid out.

Using a mix of HYSAs, CDs, T-bills, and fixed annuities can diversify your savings and protect it from market drops. They all provide a nice balance of safety, accessibility, and value, giving you the confidence you need to comfortably enter retirement.

Data by YCharts.

The S&P 500 (^GSPC -0.40%) slipped 25.6 points, or 0.4%, to 6,370.17 on Thursday, marking its fifth straight daily decline. Losses were broad, with weakness across technology and cyclical sectors, as investors grew cautious ahead of key central bank commentary.

The Nasdaq Composite (^IXIC -0.34%) also moved lower, dropping 72 points, or 0.3%, to finish at 21,100.31. Tech stocks continued to face pressure amid uncertainty over how the Federal Reserve will balance slowing labor market signals with still-sticky inflation.

The Dow Jones Industrial Average (^DJI -0.34%) joined the decline, falling 152.81 points, or 0.3%, to 44,785.50. Financials and industrials slipped alongside technology, leaving all three major benchmarks in negative territory.

Looking ahead, attention is squarely on the Jackson Hole Economic Symposium, where Fed Chair Jerome Powell is set to speak on Friday. Markets are searching for clarity on whether policymakers will move toward easing or maintain a cautious stance given the mixed economic backdrop. Powell’s remarks could prove pivotal in shaping expectations for the September meeting and the broader trajectory of rates.

Market data sourced from Google Finance and Yahoo! Finance on Thursday, Aug. 21, 2025.

OPEC+, which includes Saudi Arabia and Russia, has agreed to another large production hike in September.

That’s despite a warning by the International Energy Agency, the extra barrels could tip the market into oversupply later this year.

US President Donald Trump’s tariffs have targeted Russian crude buyers.

But whether those tariffs are imposed depends on the outcome of trade negotiations with India and China.

And even more so on talks over a peace deal in Ukraine between Washington and Moscow.

Can the US and Europe break China’s grip on rare earths?

Plus, why is China’s Labubu toy so popular?

While London’s markets are known for their diverse food offerings, one woman was left stunned by an unexpected discovery ata particular food stall that left her questioning what she was seeing

London’s a food lover’s dream, full of spots serving everything from posh meals to snacks and quick eats. Markets often serve up street food, relaxed, informal meals and allow guests to sample various international flavours.

Camden Market represents a favourite destination, situated alongside the Regent’s Canal. This marketplace is made of several individual markets, but Camden Lock Market remains the original and most renowned section, celebrated for its craft stalls, retro clothing and varied food and drink options. The Stables Market, set within former horse stables, forms another legendary segment recognised for its cobblestone courtyards and vibrant umbrella walkway.

One woman stumbled across an unusual food vendor in this section of Camden Market that left her completely puzzled.

Nicola Muddle posted a TikTok clip showing an octopus kebab mounted on an vertical machine, resembling those typically found in doner kebab shops.

She wrote alongside the footage: “Saw this today at Camden markets and I can’t understand it, someone explain.”

The video features Pescobar Kebap, which serves seafood for takeaway, including its distinctive octopus kebabs, octodogs (octopus hot dogs) and popcorn prawns.

It focuses on freshly sourced seafood that gets either flame-grilled or deep-fried for a satisfying crunch.

The octopus kebab stands as one of the signature dishes on the menu, featuring grilled octopus tucked into pitta bread alongside spiced chips, aioli, cucumber, radish and aromatic herbs, and it will cost you a hefty £17.50 if you want to sample it.

Another standout dish is the venue’s octodog, boasting a charred octopus tentacle nestled in a toasted brioche bun with aioli and chimichurri sauce for £16.50.

Pescobar Kebap was established by Paul Nicolau, who began with a modest seafood market in Romania before growing his enterprise by launching restaurants throughout the nation and globally, alongside the Camden Market outlet.

Nicola’s TikTok clip capturing her discovery of Pescobar Kebap during her market visit has racked up an incredible 3.2 million views, 45,300 likes and over 600 comments within two days.

Punters expressed divided opinions about an octopus doner kebab with one declaring: “Octopuses are one of the most intelligent, sensitive creatures on earth. This is horrifying.”

Another agreed: “That is the most disturbing thing I’ve ever seen.”

A third added: “I’m not ok with this. That’s not how I’m used to seeing octopuses! But give me a lamb kebab ANY day of the week!”

Someone who appreciated the creative cuisine noted: “Omg an octopus kebab sounds delicious! But you know it’s gonna be hella expensive!”.

A second fan, who has sampled the octopus kebab, observed: “I had one whilst in London! SO good!”.

Others revealed they were simultaneously repelled and fascinated by the unique food item as a different viewer stated: “I’m appalled but I want some.” Another shared: “I hate this and want it at the same time.”

So much for the Dodgers ruining baseball.

They won’t finish this season with the best record in history, as they could win every one of their remaining games and still not realize the 120-win season that was envisioned for them.

They might not even finish this season with the best record in the National League — or in their own division, for that matter.

The Dodgers look beatable.

Their perceived vulnerability didn’t necessarily inspire the frenzied action around baseball before the trade deadline, but it certainly didn’t discourage it either.

With blood in the water and the World Series field wide open, several contenders moved to prepare their rosters for October. No team changed as much as the San Diego Padres, who are suddenly positioned to turn the Dodgers’ title defense into a humiliation exercise.

“We went in knowing, OK, we have a team that can compete and play deep and ultimately we have these needs and let’s go fill them,” Padres general manager A.J. Preller said.

Mason Miller, who throws a fastball with an average velocity of 101 mph, will turbocharge what was already the No. 1 bullpen in baseball. Ramon Laureano and Ryan O’Hearn will improve the balance of a top-heavy lineup featuring Manny Machado and Fernando Tatis Jr. Freddy Fermin will address a hole at catcher. JP Sears and Nestor Cortes will add depth to a rotation on the mend.

Particularly revealing of the Padres’ ambitions was what Preller didn’t do. He didn’t trade closer Robert Suarez, an impending free agent. He didn’t trade underperforming former All-Star pitcher Dylan Cease, who will also hit the market this winter.

The Padres were only three games behind the Dodgers at the trade deadline, making Preller’s team a legitimate threat to overtake them in the division and cost them a top-two seed in the NL, for which the reward is a first-round bye in the playoffs.

The danger didn’t compel the Dodgers to act, their relative inactivity in this situation reflecting the contrasting philosophies of the two organizations.

The Dodgers make deals on their terms. When president of baseball operations Andrew Friedman overpay for players — the combined $85 million the Dodgers spent over the winter on relievers Tanner Scott and Kirby Yates is an example — it’s usually by accident.

The mentality often results in the market dictating to the Dodgers what they can and can’t do. For better or worse, the Padres have elected a proactive approach.

Landing Miller required to part with Leo De Vries, an 18-year-old shortstop who is widely considered one of the five best prospects in the entire sport.

Preller knew what he gave up.

“He’s going to be a very good major league player,” Preller said of De Vries.

Preller has done this before, He traded Max Fried and he traded Emmanuel Clase and he traded Josh Naylor. When he acquired Juan Soto at the 2022 trade deadline, he sent the Washington Nationals a package that included three future All-Stars in CJ Abrams, MacKenzie Gore and James Wood.

Impact players have considerable price tags, and they’re higher in some years than in others. The Dodgers examined the prices of the best relievers and outfielders available, and they settled for more affordable options. The Padres went for it, with Preller saying he was confident the team’s scouting and player development departments would once again replenish the farm system.

“In different points in time over the last few years, we’ve been able to be in this position, to be able to make these types of decisions and calls,” Preller said. “It’s just because we have good players that other teams want.”

The Padres weren’t alone. The two New York teams reconstructed their bullpens, the Philadelphia Phillies found a closer in Jhoan Duan and the Seattle Mariners added some pop to their lineup by dealing for Eugenio Suarez and Josh Naylor.

Why wouldn’t these teams be bold?

The Dodgers couldn’t make this a one-horse race. Their inability to separate themselves from the pack presented competitors with opportunities to pass them by at the trade deadline. Some of them might have.

The surge comes following announced investments in AI after the company laid off thousands of workers earlier this month.

Microsoft is now the second company ever to surpass $4 trillion in market valuation, following artificial intelligence giant Nvidia.

Microsoft, which is traded under the ticker “MSFT”, is continuing to surge and as of noon in New York City (16:00 GMT) on Thursday, it is up 4.6 percent from the market open.

The technology behemoth said it will spend $30bn in capital spending for the first quarter of the current fiscal year to meet soaring artificial intelligence (AI) demand. Microsoft also reported booming sales in its Azure cloud computing business on Wednesday.

“It is in the process of becoming more of a cloud infrastructure business and a leader in enterprise AI, doing so very profitably and cash generatively despite the heavy AI capital expenditures,” said Gerrit Smit, lead portfolio manager, Stonehage Fleming Global Best Ideas Equity Fund.

Redmond, Washington-headquartered Microsoft first cracked the $1 trillion mark in April 2019.

Its move to $3 trillion was more measured than that of technology giants Nvidia and Apple, with AI-bellwether Nvidia tripling its value in just about a year and clinching the $4 trillion milestone before any other company on July 9.

In its earnings report, revenue topped $76.4bn.

‘Slam-dunk’

“This was a slam-dunk quarter for MSFT [Microsoft] with cloud and AI driving significant business transformation across every sector and industry as the company continues to capitalize on the AI Revolution unfolding front and center,” Dan Ives, senior analyst at Wedbush Securities, said in a note provided to Al Jazeera.

Microsoft’s multibillion-dollar bet on OpenAI is proving to be a game-changer, powering its Office Suite and Azure offerings with cutting-edge AI and fuelling the stock to more than double its value since ChatGPT’s late-2022 debut.

Its capital expenditure forecast, its largest ever for a single quarter, has put it on track to potentially outspend its rivals over the next year.

“We closed out the fiscal year with a strong quarter, highlighted by Microsoft Cloud revenue reaching $46.7bn, up 27 percent [up 25 percent in constant currency] year-over-year,” Amy Hood, executive vice president and chief financial officer of Microsoft, said in a statement.

However, Microsoft’s surge in market value is overshadowed by a wave of layoffs at the tech giant. Earlier this month, the company laid off 9,000 people, representing 4 percent of its global workforce, while doubling down on AI.

Lately, breakthroughs in trade talks between the United States and its trading partners ahead of US President Donald Trump’s August 1 tariff deadline have buoyed stocks, propelling the S&P 500 and the Nasdaq to record highs.

Meta Platforms also doubled down on its AI ambitions, forecasting third-quarter revenue that blew past Wall Street estimates as artificial intelligence supercharged its core advertising business.

The social media giant upped the lower end of its annual capital spending by $2bn – just days after Alphabet made a similar move – signalling that Silicon Valley’s race to dominate the artificial-intelligence frontier is only accelerating.

July 31 (UPI) — Collaborative design firm Figma Inc. raised $1.2 billion with an initial public offering on Thursday, with shares trading for $33, which increased its market share to $19.3 billion.

The IPO is one of the most closely watched by Wall Street analysts, who say it is a predictor of how much value investors place on tech firms.

The shares are traded on the New York Stock Exchange under the FIG symbol.

The IPO followed a failed Adobe and Figma merger effort that ended when U.S. antitrust regulators denied the merger at the end of 2023.

Adobe had offered to pay $20 billion to acquire Figma.

If the Figma shares price to rise by 4%, the IPO will give Figma more market value than it would have received from Adobe.

Dylan Field and Evan Wallace founded Figma in 2012 to create online design tools that are easy to use with a web browser.

Field is Figma’s chief executive officer and in a prospectus said artificial intelligence is in its infancy and will enable Figma to continue its growth by supporting designers well into the future.

“We’re already investing heavily in AI, and we plan to double down even more in this area,” Field said in the prospectus.

“AI spend will potentially be a drag on our efficiency for several years,” Field said, “but AI is also core to how design workflows will evolve going forward.”

He said there are “many possibilities for how AI can help designers and bring more people into the design process,” and “the impact of AI will extend far beyond the Figma platform.”

“Design is bigger than design,” Field added, “and the world needs more designers in charge.”

He told investors that Figma will acquire other firms and continually improve internally through more investment.

Figma’s collaborative design tools are used by 78% of Forbes 2000 companies and more than 95% of Fortune 500 firms, according to its registration statement with the Securities and Exchange Commission.

Figma reported more $228 million in revenue during the first quarter of 2025 and $749 million in 2024.

It claims more than 13 million active users every month, about two-thirds of whom are not designers.

Police say they are working to identify deceased suspect.

Five people have been killed and one person wounded in a shooting in Thailand’s capital, Bangkok, police say.

The shooting occurred at Or Tor Kor Market in the Bang Sue district of northern Bangkok at 12:31pm (05:31 GMT) on Monday, the Royal Thai Police said.

All five of the deceased victims were security guards at the market, and the suspected perpetrator took his own life, according to police.

“Police are investigating the motive. So far, it’s a mass shooting,” Worapat Sukthai, deputy police chief in the Bang Sue district, was quoted as telling the AFP news agency.

The police are working to identify the suspect and investigating “any possible link” to the current border clashes between Thailand and Cambodia, the official said.

The shooter was seen in surveillance footage wearing a black T-shirt, a cap, camouflage shorts and a backpack hung over his chest, the Thai Public Broadcasting Service reported.

Gun violence is relatively common in Thailand compared to much of the rest of Southeast Asia.

In 2020, a junior army officer killed 29 people and wounded 58 in a shooting rampage in the northeastern city of Nakhon Ratchasima.

The UK jobs market has weakened further as the number of job vacancies continues to fall and wage growth slows, according to official statistics.

The annual rate of pay growth in the three months between March and May was 5%, the latest figures from the Office for National Statistics (ONS) show.

Meanwhile, the number of vacancies has fallen again to 727,000, marking three continuous years of falling job openings.

The ONS said survey data suggested that some firms may not be recruiting new workers or replacing ones who have left.

The number of job vacancies is now at its lowest in 10 years, excluding the plunge seen during the pandemic when lockdowns stopped firms from hiring.

Alongside falling job openings, the unemployment rate has risen to 4.7%, the highest for four years, although the ONS has said this data needs to be treated with caution due to problems with how it is collected.

The labour market data is one of things the Bank of England will look at next month when it decides whether or not to cut interest rates.

It may choose to cut rates to boost the labour market or raise them to reduce inflation by encouraging less spending. Most economists are predicting a cut.

Earlier this week, in an interview with the Times, the Bank of England governor Andrew Bailey indicated there could be larger cuts to interest rates if the jobs market showed signs of slowing down.

The Bank of England is prepared to make larger interest rate cuts if the job market shows signs of slowing down, its governor has said.

In an interview with the Times, Andrew Bailey said “I really do believe the path is downward” on interest rates.

Interest rates currently stand at 4.25% and will be reviewed at the Bank’s next meeting on 7 August, when many economists expect the rate will be cut.

They affect mortgage, credit card and savings rates for millions of people.

Speaking to the Times, Mr Bailey said the UK’s economy was growing behind its potential, opening up “slack” that would help to bring down ­inflation.

The governor said there were consistent signs that businesses were “adjusting employment and hours” and were giving smaller pay rises following UK Chancellor Rachel Reeve’s move to increase employers’ national insurance contributions.

Reeves raised national insurance rates for employers from 13.8% to 15% in April this year, in a move the government estimated would generate £25bn a year.

The latest official figures show the number of job vacancies in the UK has dropped to 736,000 over the three months to May – its lowest level since 2021 when firms had halted hiring during the Covid pandemic.

Meanwhile, the number of people available for work has jumped at its fastest pace since the pandemic, according to a survey from auditor KPMG and the Recruitment and Employment Confederation trade body.

“I think the path [for interest rates] is down. I really do believe the path is downward,” the governor said.

“But we continue to use the words ‘gradual and careful’ because… some people say to me ‘why are you cutting when inflation’s above target?”‘ he added.

Louise Dudley, portfolio manager at investor Federated Hermes, told the BBC’s Today programme that Mr Bailey’s comments suggested a rate cut was likely “sooner rather than later”.

Interest rates were left unchanged during the Bank’s last meeting in June, following two cuts earlier in the year.

During that meeting, Mr Bailey also said interest rates would take a “gradual downward path”.

The UK economy contracted by 0.1% in May, after also shrinking in April, according to the Office for National Statistics (ONS).

The unexpected dip was mainly driven by a drop in manufacturing, while retail sales were also “very weak”, said the ONS.

Toni Gray’s phone is blowing up these days.

The head of production at Dhar Mann Studios, which makes shows for YouTube and other online platforms, said entertainment industry friends in Los Angeles had once held out before seeking work in the digital realm.

But now, with jobs few and far between at the legacy studios, they are reaching out “all the time” looking for opportunities at the Burbank-based studio, known for posting family-friendly dramas addressing topics like bullying.

Seeing some of her peers now flock to be a part of production companies built for distribution on YouTube and other online platforms is exciting for Gray, who worked in traditional television for more than a decade and joined Dhar Mann Studios in February.

“It’s giving people hope that they can get back to work again,” she said. “And it’s not just monetary hope for their house and their kids. It actually is giving their own being life again to bring their creative element.”

Pave Studios founder Max Cutler.

(Christina House / Los Angeles Times)

In Hollywood’s TV and film industries, droves of workers are competing for jobs at a time when many companies are consolidating and laying off hundreds of people at a time. But one segment of the entertainment industry has emerged as a bright spot — the economy made up of people creating video for YouTube and social media.

That part of the industry, once dominated by amateurs making funny viral videos with smartphones has blossomed into a formidable entertainment force, where video creators are setting up real businesses with large studios in Southern California funded through advertising by major brands.

Dhar Mann Studios plans to add 15 positions to its staff of about 75 full-time employees. In Sherman Oaks, Pave Studios, which produces wellness- and true-crime-related shows, is adding 16 full-time workers to its staff of 67 contractors and employees.

Nationwide, there were more than 490,000 jobs supported by YouTube’s creative ecosystem last year, according to the Google-owned video platform, citing data from Oxford Economics. That’s roughly 60,000 more jobs than in 2023, YouTube said.

“It’s beginning to mature into creators really building businesses,” said Thomas Kim, YouTube’s director of product management for creator monetization. “We see more and more of that, and that also means that the number of employees and help that they need to sustain their business has grown over time.”

Sean Atkins, chief executive of Dhar Mann Studios, called it a big growth opportunity in the market. YouTube is a major player in streaming, representing 12.5% of U.S. TV viewing in May, according to Nielsen, more than streaming services including Netflix and Amazon Prime Video.

“Everything is so new and nascent,” said Atkins, a former president at MTV. “I imagine, particularly when you walk around our studio … that this is what it looked like in the ‘20s when MGM and Disney and Warner [Bros.] were [founded]. Just this enthusiastic chaos where everyone’s trying to figure out what this environment is.”

The growth in Southern California influencer businesses is a boon to the local production economy that is otherwise struggling. L.A. County saw a 27% decline to 108,564 employees from 2022 to 2024 in the motion picture and sound recording industries, according to data from the U.S. Bureau of Labor Statistics.

Many Hollywood workers have struggled to find roles, as studios cut down on their programming after the 2023 actor and writer strikes and after overspending during the streaming wars. For years, productions have fled the area to take advantage of lucrative financial incentives out of state and abroad. Production in L.A. County also took a hit following devastating wildfires in January.

Meanwhile, the amount of employment in the creator economy is trending up, according to the Los Angeles County Economic Development Corp. Total workers in the L.A. County creator economy, composed of businesses such as media streaming distribution services and social networks, as well as independent artists, writers and performers, increased 5% to 70,012 from 2022 to 2024, LAEDC said. Companies in the creator economy space also increased 5% to 46,425 businesses during the same time period, according to LAEDC.

The bleak job market has caused more people who have worked in traditional studio and TV networks to apply for jobs at digital media companies that produce content for platforms such as YouTube or work with influencers who are growing their staffs.

The migration reflects changing realities in the business. Consumers’ habits have shifted, where more people are watching YouTube on TV screens these days instead of on smartphones in the U.S., eating into territory held by broadcast and cable television. Video creators have adapted, building production teams and expanding into podcasts, merchandise and sometimes scoring streaming deals.

For example, one of YouTube’s top creators, Jimmy Donaldson, known as MrBeast, has a reality competition show on Amazon Prime Video, sells products such as Feastables chocolates and has brand partnerships and sponsorships. His North Carolina holding company, Beast Industries, employs more than 500 people.

Kyle Hjelmeseth, chief executive of talent representation firm G&B Digital Management, said he is receiving more calls from people coming with traditional media backgrounds seeking collaborations with influencers.

“Five years ago, it would have been very different,” he said. “Anytime that somebody from Hollywood or the entertainment complex talked about creators, it was with such a different lens … a little bit like nose in the air.”

His company, which has 25 contractors, part-time and full time employees, added four people last month with plans to hire more.

“All the pressures of what’s happening in Hollywood and the growth of the creator economy [are] crashing into each other in this moment, and that’s why we’re having a conversation about jobs, because there’s such a shift in the energy, and we’re certainly feeling it,” he said.

Morgan Absher, left, and Kaelyn Moore, right, record “Clues” podcast at Pave Studios.

(Christina House / Los Angeles Times)

Pave Studios launched last year with fewer than 10 employees and now has grown to 67 contractors and employees. Part of that growth is fueled by the increasing audience for its videos and podcasts available on platforms including YouTube, Spotify and Apple Podcasts. The company is hiring for roles including executive producers, with a pay range of $95,000 to $145,000, depending on the show, said founder Max Cutler.

“As we grow and as the business becomes more complicated, you need more specialists and more people,” Cutler said. “Video is definitely a leading growth area for us.”

Jen Passovoy joined Pave Studios in January as a producer, after working for 10 years at Paramount on competition series such as “RuPaul’s Drag Race” and “Ink Master.”

“Coming from a traditional TV background, I was drawn to how nimble and audience-focused the company is,” Passovoy said in an email. “There’s less red tape and more room to actually create. You get the energy of a startup with the same high-quality content you’d expect from a major studio.”

Passovoy, 34, said the job market for traditional studio and TV network workers is really tough right now.

“I know more people out of work right now than working, which says a lot,” she said. “The traditional TV model just doesn’t exist in the same way anymore. Budgets are shrinking and the jobs that used to be steady aren’t there. There have been so many layoffs across the industry, and it’s forced a lot of incredibly talented people to rethink how and where they create.”

Skills that people develop in traditional studio and TV roles can translate to digital-first roles, including video editors for influencers and digital media companies, industry observers said.

The creator economy also has more specialized roles, such as thumbnail designers — people who create the images used to tease videos on sites including YouTube. Those jobs can pay six figures annually, as they can be instrumental for getting audiences to click on those videos.

Roster, a hiring platform that lists job postings in the creator space, said the number of employers signing up to hire on the site has increased by nearly 80% from January to June 2025. Based on a sampling of 1,430 creator job posts in 2025, Roster said the most popular open position was video editor (representing 42.5%), followed by thumbnail designer (16.1%) and producer (10.6%).

There are downsides. Not all jobs are full-time. Many creators opt to hire freelancers.

“Their production needs need to expand and shrink like an accordion,” said Sherry Wong, CEO of Roster. “That’s why we see a lot of creators, even if they’re really big established creators, they are hiring freelancers, contractors, and being able to keep it as lean as possible.”

With so many people looking for work, there‘s intense competition for those jobs, and the ways to apply can be creative and involved.

Miami-based creator Jenny Hoyos found freelancers through a hiring challenge she hosted on Roster. Applicants were given 10 minutes of raw video footage and instructed to edit it down to a video short, roughly 30 to 60 seconds long.

Hoyos, 20, requested that applicants create a final product that was engaging, cohesive and matched her specific style. She received more than 100 submissions.

While there were strong contenders from California, the winners ended up being from Brazil and India. They became her two go-to freelancers, who she said are essentially working an amount equivalent to full-time editors.

This method of seeking talent was Hoyos’ way of making sure the people she brought on to her team were willing to go the extra mile, she said. Those hoping to break into the digital media world don’t necessarily have to have grown up with YouTube and social media like she did, but they do have to “commit to being addicted to watching” content, she said.

Not everyone who works for YouTube creators gets paid.

Screenwriter Natalie Badillo isn’t earning a salary while she tries to build up an audience on YouTube. Badillo, who sold a self-titled project to HBO Max a few years ago, said she was looking for a way to “not wait 8 billion years for a TV show to get picked up,” and creating a YouTube channel, “Great Job Nat,” was a way to get her material out into the world.

“Why wait for somebody to throw you a party when you can just throw your own party?” she said.

Badillo draws on her connections with folks from the traditional film and TV world to produce the YouTube videos. While the channel is getting up and running, collaborators work for low pay or simply for the fun of it and to gain experience. Still, her ambitions are big. “I want to be the Jon Stewart of the West,” she said.

The pay disparities can be an issue for people from traditional media industries looking for jobs. While some programs featuring influencers and vertical excerpts of TV shows and movies are covered by union agreements, other projects don’t have those protections.

“With temporary hiring, it’s like everything else in Hollywood — you either need to have another job that balances things out or you need to get to a critical mass of enough work on enough different projects,” said Kevin Klowden, executive director at Milken Institute Finance. “The number of sustainable Hollywood jobs has shrunk.”

But as the two worlds collide, traditional media companies are already paying attention to the popularity of creator shows and are trying to find ways to partner with influencers. Amazon earlier this year announced more seasons of MrBeast’s reality competition series “Beast Games,” and digital media companies are adding people with traditional media backgrounds to their staffs.

“It’s still a lot more tiptoeing,” Hjelmeseth said. “Everybody’s kind of like looking at each other from across the room, like, ‘Should we dance?’”

It has been five months since Martin Fowler was brutally killed off on EastEnders leaving his fruit and veg stall unattended – but now a new stall keeper has been uncovered

Changes are coming to Albert Square as the iconic fruit and veg stall is set to have a new owner. Long time fans of the BBC soap will be well aware that Martin Fowler held down the stall until her was brutally killed off earlier this year.

Now it has been revealed that returning character Oscar Branning will take control of the market stall as he begins to resettle into life in East London. EastEnders fans will be well aware that Oscar is the teenage son of Max Branning and Tanya Cross and the younger brother of Lauren Branning.

The character first appeared on the BBC show 2007 and been played by Gabriel Miller-Williams from 2007 until 2008, Neo Hall from 2008 until 2015, and Charlee Hall from 2013 until 2017. Oscar is now being played by Pierre Moullier with an upcoming storyline set to explain how he ends up running the fruit and veg stall.

Discussing his casting recently, Pierre explained that he can’t wait for soap fans to see him on screen and learn where the show writers take his character. He said, as per OK! Magazine: “It’s pretty surreal to join EastEnders – it keeps hitting me that I’m actually on Albert Square.

“When I found out I was joining the Brannings, it was so exciting as they are such an iconic family, and I love that there are so many skeletons in the closet.” And teasing his character arc, he added: “Oscar is so much fun to play and the audience should be prepared for the unexpected as he’s a complex guy.”

EastEnders’ Executive Producer Ben Wadey shared his excitement over Oscar’s return. He said: “I’m very excited to bring Oscar Branning back to Walford and introduce viewers to him now that he’s all grown up.”

And hinting at the drama to come, Ben added: “Oscar is very much a Branning which means there’s going to be plenty of drama in store this summer. We’re delighted to welcome Pierre as he takes on the role and ca”t wait for viewers to see him bring Oscar to life.”

Plot details suggest that Oscar returns to Albert Square to shake up the life of his sister Lauren, played by Jacqueline Jossa. But when Lauren offers Oscar a trial shift on the stall – and encouraged by Penny Branning, played by Kitty Castledine, to take on the work – he begins to consider if he can build a life for himself in the city.

Earlier this year, EastEnders fans were devastated when Martin Fowler was killed off in a shock twist during a 40th anniversary special episode. James Bye, who played the character from 2014 to 2025, explained why the time was right to walk away from the character.

He said in a statement following his explosive exit: “Saying goodbye is not easy, but after 10 years at EastEnders and on the night of the show’s epic 40th anniversary, the time felt right. It’s an honour to leave on a story of this magnitude. A huge thank you to all the fans of the show – EastEnders wouldn’t be what it is without you – and to the BBC and EastEnders team for trusting me with this role for so many years. This fruit and veg man will always hold a special place in my heart. It’s time to look forward, and I’m incredibly excited for what the future holds. RIP Martin Fowler.”

Executive Producer Chris Clenshaw said at the time: “It’s incredibly sad to say goodbye to James, who has been a much-loved, loyal company member for 10 years. James’ performance in tonight’s live episode was nothing short of outstanding and one that I know will touch so many of you watching at home due to his loveable portrayal of Martin Fowler, which has made him a firm favourite amongst the viewers. When discussing James’ exit, we knew that we needed to give Martin Fowler the big explosive storyline that his character deserved.

“To leave the show in such an emotional storyline, during a live episode is something incredibly courageous to do as an actor, and one that I’m sure will cement itself in EastEnders history. I would like to thank James for everything he’s given to EastEnders, and although we will all miss him here at Elstree, he will always remain a member of the EastEnders family and we wish him the best for the future.”

Martin was first played by Jon Peyton-Price when EastEnders began in 1985 and he held onto the role until 1996. James Alexandrou then took on the role and played from 1996 until 2007 after which time James took over. Martin was killed when he was crushed by a fallen structural beam in an accident and died following a heart attack.

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July 9 (UPI) — The Nvidia technology company now stands alone at the top of the worth list as on Wednesday it became the first publicly traded company to reach $4 trillion in market value.

Its stock went up 2.5% on Wednesday to hit a record single trading day high that pushed it over the $4 trillion line. It’s had a sensational 2025 so far, growing approximately 20% due in part to its key role in the AI boom.

Apple had entered the year at around $3.9 trillion, which at that point made it the world’s most valuable company, but it took a hit during the chaotic tariff rollout of President Donald Trump.

Nvidia and Microsoft have both ebbed and surged in value so far this year, trading places as the most valuable company on Earth, but as of Wednesday Nvidia has found itself in the highest weight class of all time.

It first found fortune for its graphics processing units, a big hit in the PC gaming world, and now it can brag of new AI models intended to power autonomous vehicles and robots, and this comes at an extremely opportune time as its chips power the data centers that companies like Google, Amazon and Microsoft need to keep their AI models and cloud services humming.

Nvidia created $44.1 billion in revenue for the quarter that ended in April, 69% up from the same period from the year before.

The future for Nvidia certainly bodes well as AI investments are expected to keep swelling upwards, as market research by the International Data Corporation portends global spending on AI infrastructure will pass $200 billion by 2028.

In an interview with CNBC Wednesday, Goldman Sachs Asset Management co-head of public tech investing Brook Dane reacted to Nvidia’s ascent to a $4T market cap by saying, “We’re at the early stages of the biggest tech transformation we’ve seen in decades.”

That concept was echoed by a June research note from the Loop Capital investment firm, which speculates that Nvidia could hit a $6 trillion market cap by 2028.

WASHINGTON — President Trump’s decision to hike tariffs once again on some of America’s largest trading partners rattled markets on Monday, dashing hopes on Wall Street that the White House would cut any significant trade deals, as it had promised, by the middle of this week.

In a series of letters sent to foreign leaders, and promptly posted by the president to his social media platform, Trump said the new rates amount to the cost of doing business with “the extraordinary Economy of the United States, The Number One Market in the World, by far.” Under the new policy, Japan, South Korea, Malaysia and Kazakhstan will face 25% import duties starting Aug. 1, while goods from Laos and Myanmar will face a 40% tariff, according to the letters.

South Africa’s president also received a letter, stating goods from the country imported to the United States would face duties of 30%.

Markets recoiled at the news, with the Dow Jones industrial average dropping 1.4%, the Nasdaq falling 1.2% and the Standard & Poor’s 500 sinking 1.2%.

The move essentially returns U.S. tariff rates on those countries to those Trump first announced on April 2, on what he called Liberation Day, but that he ultimately abandoned over widespread Wall Street panic that began spooking the bond market.

Trump hit pause on the crisis by announcing a 90-day suspension of the higher tariff rates, a period set to expire Wednesday. But the White House press secretary, Karoline Leavitt, said Monday that Trump would extend the deadline to the end of the month.

Several senior officials in the Trump administration had promised a slew of trade deals would follow the April episode — “we’re going to run 90 deals in 90 days,” said Peter Navarro, the president’s top trade advisor. Yet the administration has failed to secure a single detailed trade deal, instead announcing three frameworks of understanding with the United Kingdom, China and Vietnam.

“The president is taking a very deliberate approach to correcting this wrong of many decades, of many past presidents — I think he should be commended for the time and the effort that he’s putting into this,” Leavitt told reporters at a press briefing.

“The fact that he has announced a framework with China, a trade deal with the U.K., a trade deal with Vietnam and many others to come in just six months is truly historic, and it’s a testament to this president and his trade team,” she added.

In his letters to foreign leaders, Trump warned that any effort by their governments to retaliate would be met with escalation.

“If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by, will be added onto the 25% that we charge,” he wrote.

Leavitt said more letters would be sent in the coming days. She also stated that additional trade deals could be announced soon. “We are close,” she said.

Scott Bessent, the Treasury secretary, told CNBC in an interview that his inbox was “full last night with a lot of new offers” for trade deals ahead of the now-defunct Wednesday deadline.

“We’ve had a lot of people change their tune in terms of negotiations,” Bessent said. “So it’s going to be a busy couple of days.”

The stock market reaction to Trump’s Liberation Day tariffs, which hiked rates on countries all around the world, was an historic rout, eviscerating trillions of dollars in value, with the Standard & Poor’s index bleeding 12% in just four days.

Markets recovered within weeks, after Trump reversed course, with the S&P hitting a record high on July 3.