Hello Capitalists,

One of the victims of the Manhattan shooting has been named as s a senior executive at Blackstone. Apple spools up its long awaited investment in America. Boeing appears to be on the right flight path and the next Fed Chair now has polling numbers.

Here’s everything you need to be following today:

• DOW: 44641.85 - (⬇️0.44) 🔴

• S&P: 6374.58 - (⬇️0.24) 🔴

• NASDAQ: 21120.08 - (⬇️0.28) 🔴

• CBOE VIX Volatility Index: $15.18 (⬆️0.15) ⚠️⬆️

NYC victim named after horrific Manhattan shooting

Wesley LePatner, a senior Blackstone executive, was among four people killed in a mass shooting at the firm's Manhattan headquarters on Monday evening.

• Incident Details: The shooting happened at 345 Park Avenue in Manhattan claimed the lives of four people, including Blackstone executive Wesley LePatner, an NYPD officer, and two others, with the suspected gunman, Shane Tamura, dying from a self-inflicted gunshot wound.

• Victim Identification: Blackstone confirmed that Wesley LePatner, Global Head of Core+ Real Estate and CEO of Blackstone Real Estate Income Trust (BREIT), was killed in the attack, describing her as a beloved and respected colleague.

• Shooter’s Profile: Shane Tamura, 27, from Las Vegas, had a documented mental health history, and authorities are investigating his motives for targeting the building, which houses offices of Blackstone, the NFL, KPMG, and Rudin Management.

• Community Impact: LePatner, survived by her husband and two children, was an active member of Manhattan’s Park East Synagogue and served on the executive committee of the Heschel School and as an elective trustee for the Metropolitan Museum of Art.

Boeing looks to pull out of it’s nosedive after losses slashed

Boeing Co. reported a significantly reduced second-quarter loss and a surge in revenue driven by a record 150 airplane deliveries since 2018.

• Financial Performance: Boeing slashed its Q2 2025 loss to $176 million from $1.09 billion the previous year, with revenue rising 35% to $22.75 billion, surpassing analyst estimates of $21.68 billion, while adjusted EPS was -$1.24, beating expectations of -$1.48.

• Operational Improvements: The company delivered 150 airplanes, the highest second-quarter total since 2018, with commercial airplane revenue up 81% to $10.87 billion, driven by increased 737 MAX production at 38 units per month.

• Challenges Ahead: Certification delays for the 737 MAX 7 and MAX 10 are now expected in 2026, not 2025, and the defense unit faces potential losses due to a possible factory worker strike after a rejected labor deal.

• Leadership Outlook: CEO Kelly Ortberg emphasized a focus on safety, quality, and stability, projecting 2025 as a "turnaround year" with positive cash flow expected in Q4, despite ongoing regulatory and operational hurdles.

Quote of the Day:

Apple to open a new manufacturing academy as a part of its $500B investment in the US

Apple will open a manufacturing academy in downtown Detroit on Aug. 19 as part of a $500 billion U.S. investment plan over the next four years amid pressure from President Donald Trump to boost domestic production.

• Apple is launching the Apple Manufacturing Academy in downtown Detroit on August 19, administered by Michigan State University, to provide free workshops on AI and smart manufacturing for small and medium-sized businesses.

• The initiative is part of Apple’s $500 billion U.S. investment commitment over the next four years, which includes assembling AI servers in Houston and purchasing chips from a TSMC factory in Arizona.

• The academy will offer in-person and virtual courses focusing on skills like project management and manufacturing process optimization to enhance productivity and supply chain efficiency.

• Apple’s move comes as President Trump pressures the company to shift iPhone production to the U.S., with tariffs expected to increase costs, though experts note domestic iPhone assembly remains cost-prohibitive.

CNBC drops the first poll on who the next Fed Chair will be

A new CNBC poll has identified the top contenders to replace Federal Reserve Chair Jerome Powell when his term ends in May 2026 and it shows a tight race.

• Treasury Secretary Scott Bessent and former Fed Governor Kevin Warsh each favored by 24% of respondents, and National Economic Council Director Kevin Hassett close behind at 22%.

• Current Fed Governor Chris Waller is a distant fourth with 14% support, as President Trump considers replacing Powell, whose term expires in May 2026, and has repeatedly urged him to resign for slow interest rate reductions.

• Economic optimism is rising, with the survey noting a drop in recession probability to 31% from 38% in June, alongside expectations of stable unemployment at 4.4% through 2026, despite concerns over Trump's proposed "reciprocal" tariffs.

• Tariff-related uncertainties have eased, with 65% of respondents expecting a U.S.-China trade deal and 51% believing tariffs will cause only one-time price increases rather than sustained inflation.

Wall Street’s busiest week of the summer is here and all eyes are on the Fed

Wall Street’s busiest week of the summer marks a pivotal shift as markets embrace long-awaited economic signals, with investors closely watching corporate earnings and Federal Reserve moves for clarity on future growth.

• Corporate Earnings Surge: Strong earnings reports from major companies are fueling market optimism, with investors focusing on robust financial performances as a key driver of sentiment.

• Federal Reserve Focus: Anticipation around the Federal Reserve’s next interest rate decision is high, with markets expecting rates to remain steady, influencing economic outlooks.

• Global Market Dynamics: There is mixed performances in global markets, with U.S., European, and Asian markets each responding differently to economic indicators and policy expectations.

Waymo continues its automated rollout with services launching in another Texan city

Waymo, Alphabet’s autonomous vehicle unit, will launch its robotaxi service in Dallas in 2026 marking a significant expansion of Waymo’s commercial ride-hailing operations in the U.S.

• Waymo plans on expanding its U.S. robotaxi service alongside planned launches in Miami and Washington, D.C.

• The company has partnered with Avis Budget Group, which will manage the Dallas fleet, handling maintenance, infrastructure, and operations for Waymo’s autonomous Jaguar I-PACE vehicles.

• Waymo is already testing its driverless technology in downtown Dallas, utilizing the Waymo Driver system, which combines software, sensors, and hardware for level 4 autonomous operations.

• Leading the U.S. robotaxi market, Waymo conducts over 250,000 paid weekly trips across cities like Atlanta, Austin, Los Angeles, Phoenix, and San Francisco, with international competition from Baidu’s Apollo Go in China.