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CLOSING BELL
Tech Climbs While Market Prices In Trade

The market did its best to handle new tariffs in stride. The effective rate on average for all imported goods now sits at roughly 18%, the highest in nearly a century, according to the WSJ.

It could be because of exemptions. Apple’s Tim Cook showed off gifts to the administration in the White House, and boasted a domestic manufacturing plan that helped his firm avoid the newest war-focused sanctions on trading partners with Russia. Others are joining the push to land an exemption promise stamped from the Oval Office, including commodity-specific allowances like Brazilian orange juice and Chilean copper.

The American Chamber of Commerce in Brazil found 43% of Brazil’s $42.3B exports to the U.S. are included in some tariff-dodging deal. Maybe it won’t be so bad after all. 🌮 

Today's issue covers The Trade Desk tanked after beating estimates, OpenAI launches next step in artificial intelligence, and more. 📰

With the final numbers for indexes and the ETFs that track them, 5 of 11 sectors closed green, with utilities $XLU ( ▲ 0.02% ) leading and health care $XLV ( ▼ 0.06% ) lagging.

S&P 500 $SPY ( ▲ 0.23% ) 6,340

Nasdaq 100 $QQQ ( ▲ 0.15% ) 23,389

Russell 2000 $IWM ( ▲ 0.71% ) 2,214

Dow Jones $DIA ( ▲ 0.34% ) 43,968

STOCKS
Speaking Of Earnings Reactions, The Trade Desk Tanks After A Beat 🐻 

Reporting after the bell, $TTD ( ▲ 0.82% ) fell like a rock tied to an anchor despite an all-around beat. In-line adjusted EPS met expectations, a revenue of nearly $700M beat Wall Street by more than a couple of million, and a Q3 guidance that was well above what traders were looking for.

Still, the stock was down nearly 30% right after the results. In a week of volatile opens and report reactions, this one stands out. ❤️‍🩹 

The company also announced an executive board refresh. CFO Laura Schenkein will transition away from her position, replaced by Alex Kayyal by August 21.

Kayyal is a current board member, replacing Schenkein and her decade of leadership positions at TTD. Kyyal has decades of experience in fintech, with time at Salesforce and Lightspeed Ventures, and even trad-fi experience from way back when at investment bank Merrill Lynch.

That is to say, if Schenkein’s removal is the reason the stock is tanking, it’s not a very compelling one. 

One Stocktwits user pointed out the options implied move after the report was just 12%.

Speaking of, $XYZ ( ▲ 0.77% ) was actually climbing 12% after Blocks post-market report showed a boosted year guidance and profit beat. At least some stocks were making cents.

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AI NEWS
Imagine A Really Really Smart Chat Bot 🤓 

OpenAI announced the launch of ChatGPT-5, calling it a “major upgrade” with faster thinking, fewer hallucinations, and expert-level responses across all tiers. Chief Sam Altman said if GPT 3 was like a high schooler, GPT 4 was a college graduate, and GPT 5 was an expert, doctor, or PhD-level agent.

“We think you will love using GPT-5 much more than any previous AI." Altman said in a video. "With GPT-5, now it is like talking to an expert. A legitimate PhD-level expert in any area you need, on demand, that can help you with whatever your goals are."

Altman said it was a major step closer to artificial general intelligence or AGI, and Microsoft said GPT-5 is coming to its products as early as Thursday.

Not to be left out of the news, XAI owner Elon Musk replied to Microsoft’s Satya Nadella that OpenAI is going to eat his firm alive. He also said a new version of Grok will come later this year. Read more

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POPS & DROPS
Top Stocktwits News 🗞️ 

Duolingo soared 30% intraday after a beat-and-raise Q2 report, with retail chatter spiking 1,407% and analysts hiking price targets on AI momentum and monetization gains. Read more

Apollo increased its loan to SoftBank’s Vision Fund 2 by $900M to $5.4B, marking a record NAV deal amid booming demand for private capital debt. Read more

Crocs’ CFO warned of wholesale headwinds and forecast a mid-single-digit decline for the core brand in Q3, offset by international growth. Read more

AppLovin jumped 13% intraday after Wall Street raised price targets on strong Q2 earnings and optimism around its new e-commerce product. Read more

GM will source batteries from China’s CATL for its next-gen Bolt EVs despite Trump’s 80% tariff, calling the move temporary until U.S. production ramps up. Read more

Warner Bros. Discovery CFO said the company took a short-term hit for long-term gains from its content strategy, citing over $1B in intercompany profit and momentum ahead of its 2026 corporate split. Read more

Ralph Lauren tumbled nearly 8% intraday after its CFO flagged tariff risks and issued cautious guidance for the second half of 2025 despite strong Q1 earnings. Read more

Firefly Aerospace jumped 56% intraday on its Nasdaq debut, raising $868M at a $6.3B valuation as retail sentiment surged despite mixed trading intentions. Read more

Don’t miss a story! Follow @StocktwitsNews for a live feed in real time. ✍️ 

WHAT’S ON DECK
Tomorrow’s Top Things 📋

Economic data: U.S. Baker Hughes Oil Rig Count (1:00 PM), U.S. Baker Hughes Total Rig Count (1:00 PM). 📊

Pre-Market Earnings: Canopy Growth ($CGC), FuboTV ($FUBO), Under Armour ($UAA), Tempus AI ($TEM), TeraWulf ($WULF), Under Armour ($UA), Wendy’s ($WEN), and AMC Networks ($AMCX). 🛏️

P.S. You can listen to all of these earnings calls and more straight from the Stocktwits app or website. You’ll find them on the calendar page and individual symbol pages once they’re set to begin! We’ll see you there. 👍

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📺️ OpenAI launches new GPT-5 model for all ChatGPT users

⚠️ How Tim Cook convinced Trump to drop made-in-USA iPhone — for now

😨 10 ways the One Big Beautiful Bill affects student loans and financial aid

👀 Trump names Stephen Miran to Fed as White House fights for lower rates

*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.

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