IBM issued an earnings warning, saying corporate spending is shifting heavily toward datacenter infrastructure such as servers, chips and networking equipment, weakening its core mainframe business. The company’s shares fell 25% in a single session, a drop larger than during the 1987 “Black Monday” crash. IBM is set to report second-quarter results on July 22, with investors watching for progress in its transition and whether AI-related revenue is materializing.

Bank of America raised its S&P 500 second-quarter earnings-per-share forecast to $85.50, up 28% year over year and 5% above the Wall Street consensus. It also lifted its full-year 2026 EPS estimate to $345 from $335, implying 26% annual growth. The bank said Energy and Tech are the main drivers, while early reporters have delivered an 83% EPS beat rate and a 72% revenue beat rate. Cooling inflation in the latest CPI reading was cited as an additional support for earnings resilience.

IBM warned that second-quarter revenue will be $17.2 billion, below the $17.86 billion consensus, and forecast adjusted EPS of $2.93 versus $3.02 expected. The company said customers shifted quarterly capital spending toward AI-related servers, storage and memory, leaving some mainframe and software deals unfinished. IBM shares plunged 25% in a single session, weighing on the Dow, while the IGV software ETF fell more than 4% and peers including Microsoft slid 2% to 5%.

Ripple said it has joined the x402 Foundation to jointly expand agentic payment capabilities built on the XRP Ledger (XRPL), with a focus on automated, programmable payment use cases for XRP and the RLUSD stablecoin. The x402 Foundation is focused on building decentralized payment infrastructure, with a stack designed for machine-to-machine (M2M) settlement without human intervention. The collaboration does not involve launching a new token or changing any tokenomics model, but it signals closer coordination in the Ripple-led public blockchain ecosystem around real-world payment applications and reinforces XRPL’s positioning as a high-TPS, low-fee payments network.

IBM released preliminary Q2 results showing revenue of $17.2 billion, below analysts’ expectations of $17.9 billion, and said infrastructure revenue fell 7%. The shortfall sent IBM shares down 23% in a single session, the stock’s biggest one-day drop in nearly six decades. Infosys and Wipro ADRs fell 3.39% and 2.63%, while the iShares Expanded Tech-Software Sector ETF (IGV) slid 4.5% and Microsoft, Oracle and Salesforce also declined.

September coffee futures (KCU26) remain in an uptrend after recently hitting a multimonth high, with the MACD indicator showing a bullish setup. The article cites weather-related crop declines in key producing countries, global supply chain disruptions, rising world demand, and trade policies affecting major producers as fundamental drivers. On the technical side, a break above $3.4000 is framed as a buy signal, with an upside objective of $4.25 or higher and support near $4.1000.

US June CPI rose 3.5% year on year, below the 3.8% market forecast, while core CPI increased 2.6%, also under expectations. Swaps pricing cut the implied probability of a July FOMC rate hike to 12% from 43%. The dollar index (DXY) fell 0.55% on the day and the front-month gold contract surged 1.87%. Major currency pairs moved in tandem, while a flare-up in Middle East tensions and a jump in oil prices acted as partial offsets without overturning CPI-driven trading.

Raydium’s official X account said onchain investors are buying U.S. stocks on Solana at the fastest pace in history. The post did not provide specific data sources or a methodology. It pointed to an acceleration in real capital inflows and tokenization activity within the Solana ecosystem. The post did not mention other cryptocurrencies or stock tickers, and described the activity as native on-chain operations rather than cross-chain bridging or centralized-platform routing.