OpenAI’s revenue growth is accelerating, with its annualized revenue run rate now on track to exceed $40 billion. ChatGPT has more than 1 billion monthly users, giving the company a large base to monetize via subscriptions and a growing advertising business. OpenAI’s run rate has roughly doubled from more than $20 billion at the end of 2025, Bloomberg reported, citing people familiar with its finances.

U.S. producer inflation in July came in below expectations, with headline PPI up 0.1% month over month and core PPI rising 0.2%, both under the Dow Jones consensus. On a year-over-year basis, headline PPI increased 4.7% and core PPI rose 4.2%. After the release, market expectations for the Federal Reserve to keep raising interest rates fell further.

U.S. stocks rose after a tame inflation report eased expectations that the Federal Reserve will raise interest rates again. The Dow Jones Industrial Average edged up, while the S&P 500 added 0.25% and the Nasdaq Composite climbed 0.54%. CME FedWatch data showed the probability of a hike to 3.75%-4% fell by more than six percentage points to 41.9%, while the odds of rates staying at 3.5% to 3.75% rose to 58.1%. Headline CPI rose 0.1% on the month and 3.4% year over year, while core CPI increased 0.2% and 2.5%, and Cleveland Fed President Beth Hammack said more than one hike could be needed.

China’s A-share market came under heavy pressure in July, with the CSI 300 Index falling 9.6% for its biggest monthly decline since January 2016, while the tech-heavy STAR 50 Index slid 30% from its mid-July peak. AI-linked listings showed sharply mixed trading: ChangXin Memory Technologies (CXMT) surged 466% on its first day, but Zhongji Innolight fell 5% during its IPO. State-backed investors bought $9 billion of stocks to stabilize markets, while corporate buybacks climbed to their highest level since U.S. President Donald Trump announced steep tariffs in April 2025. The diverging IPO performance underlined uneven sentiment toward AI-related new listings.

A U.S. federal judge in Northern California has paused Paramount-Skydance’s acquisition of Warner Bros. Discovery, citing concerns it could violate antitrust law and lift film-distribution market concentration to 27%. The lawsuit is led by California Attorney General Rob Bonta and joined by attorneys general from 11 other states. The deal has been pushed back to June next year from an original target of late September, and Paramount’s stock fell 3% on the day.

Federal Reserve officials including Kevin Warsh, Austan Goolsbee and Beth Hammack said in public remarks tied to an ECB forum and interviews that inflation remains too high, pointing to higher oil prices from the recent Iran conflict as a key driver and suggesting rates could rise further. Fresh inflation data showed transportation and energy costs continuing to weigh on prices, while services inflation has improved slightly but remains well above the Fed’s 2% goal. The comments reinforced expectations that the Fed will keep rates high and could tighten again. That outlook has provided direct support for commodities, especially crude oil.

A report from the Federal Reserve Bank of New York said U.S. workers’ share of national income fell to a record low of 54.1% in early 2026. Inflation also picked up again to its highest level in more than three years, with gasoline prices rising notably. The combination has left about two-thirds of American households facing financial strain, and the article identifies higher gasoline prices as a direct contributor to the pressure.

Federal Reserve officials Austan Goolsbee and John Williams said inflation remains well above the central bank’s 2% target, even as some services-price measures have shown modest improvement. Data showed core PCE inflation rose 3.4% year over year in May, its highest reading since October 2023, while headline PCE reached 4.1%, with higher energy prices during the recent Middle East conflict contributing to the increase, according to Reuters. They said the current policy stance remains appropriate and did not signal an imminent rate cut. Markets have priced in about a 30% chance of a rate increase at the Fed’s July 28-29 meeting.

The Trump administration plans to press Congress to permanently authorize year-round sales of E15 gasoline, a 15% ethanol blend, removing current summer restrictions. The move is intended to help lower fuel costs amid recent pressure on gasoline prices. While easing tensions with Iran has pushed oil prices down, making the change permanent would reduce support for the summer gasoline premium and give refiners more blending flexibility, adding downside pressure to spot gasoline and near-dated futures prices.