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• U.S. stocks end mixed Friday, but S&P 500 and Nasdaq book weekly gains
  The U.S. stock market ended mixed on Friday, with the...

  The U.S. stock market ended mixed on Friday, with the S&P 500 and Nasdaq Composite logging weekly gains as companies reported their latest quarterly earnings.

  
  

  The Dow Jones Industrial Average fell 142.30 points on Friday to close 0.3% lower at 44,342.19.

  
  

  The S&P 500 slipped 0.57 point, or less than 0.1%, to finish nearly flat at 6,296.79.

  
  

  The Nasdaq Composite rose 10.01 points, eking out a gain of less than 0.1% to notch a fresh record high at 20,895.66.

  
  

  Big Tech stocks mostly rose on Friday, but the S&P 500's 11 sectors ended the trading session mixed. Investors continued to monitor tariff-related risks, with consumer-price-index data released earlier this week showing some early signs of inflationary pressures from tariffs.

  
  

  The S&P 500 finished Friday just shy of its all-time high on Thursday, with a weekly gain of 0.6%, according to Dow Jones Market Data. The technology-heavy Nasdaq climbed 1.5% on the week, after rising for a fifth straight day. The Dow had a slight weekly loss of 0.1%, booking back-to-back weekly losses.

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• Talen Acquires Gas-Fired Plants in PJM for $3.5B
  Talen Energy Corp. agreed to acquire two combined-cycle gas turbine...
  Talen Energy Corp. agreed to acquire two combined-cycle gas turbine (CCGT) plants in the PJM power market for approximately $3.5 billion net, according to a July 17 press release. The Moxie and Guernsey transactions are expected to close in the fourth quarter.
  
  Talen is purchasing Caithness Energy’s Moxie Freedom Energy Center in Pennsylvania and Caithness’ and BlackRock’s Guernsey Power Station in Ohio. The purchase price comes out to $3.8 billion gross.
  
  Moxie is a 1,045-megawatt (MW) CCGT located 3 miles from Talen’s Susquehanna nuclear power plant. Guernsey is a 1,836-MW CCGT near Columbus, according to Talen’s investor relations presentation.
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• FTC Nixes Orders Banning Hess, Sheffield from Chevron, Exxon Boards
  The Federal Trade Commission (FTC) set aside previous orders barring...
  The Federal Trade Commission (FTC) set aside previous orders barring oil executives John Hess and Scott Sheffield from serving on the boards of Chevron and ExxonMobil.
  
  The FTC voted 3-0 to reopen and set aside a final consent order issued in January 2025 in conjunction with Chevron’s pending $53 billion acquisition of Hess Corp.
  
  The commission also voted 3-0 to toss out a similar order barring Sheffield from the Exxon board, in conjunction with Exxon’s $64.5 billion acquisition of Pioneer Natural Resources last year.
  
  The Biden-era FTC signed off on the mega-mergers between the oil and gas giants—but banned Chevron and Exxon from nominating, designating or appointing Hess or Sheffield to their respective boards of directors.
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• Uber inks $300+ million deals for new robotaxi service
  The global ride-hailing leader is getting serious about autonomous vehicles....
  The global ride-hailing leader is getting serious about autonomous vehicles. Uber announced it’s investing $300 million in EV-maker Lucid and a similar amount in tech startup Nuro to launch a new robotaxi program that could compete with Waymo. The goal is to deploy 20,000 autonomous EVs over the next six years, starting in 2026 in a “major US city.” The deals with Lucid and Nuro underscore Uber’s strategy to outsource its robotaxi technology rather than develop it in-house as it seeks to become the go-to service for autonomous rides. Uber’s stock was mostly unchanged following the news, but Lucid’s soared nearly 40%.
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• ☕️What Else is Brewing Friday Morning
  New details in the Air India crash investigation. According...
  New details in the Air India crash investigation. According to dialogue of the plane’s two pilots recorded by its black box, the captain, Sumeet Sabharwal, turned off fuel switches to the engines after it took off, the Wall Street Journal reported. The first officer reportedly questioned the captain’s actions before he “expressed surprise and then panicked,” while the captain remained “calm.” The investigation has not yet determined whether or not the switches were shut off on purpose. The Boeing 787 Dreamliner crashed shortly after takeoff last month, killing all but one of its 242 passengers and crew.
  
  President Trump said he is suing the Wall Street Journal after the paper published details of a “bawdy” letter he allegedly sent to Jeffrey Epstein for his 50th birthday. Trump claimed the letter was “fake.”
  
  Liquid Death, the canned water brand that makes you  when you say its name, is launching an energy drink with a “sane level of caffeine.”
  
  Juul will be allowed to continue selling its e-cigarettes in the US after the FDA reversed its 2022 ban on the product.
  
  President Trump was diagnosed with chronic venous insufficiency, a common condition in older people, after noticing lower-leg swelling.
  
  CBS announced it plans to end The Late Show with Stephen Colbert and retire the franchise in 2026 in a “financial decision.”
  
  Mark Zuckerberg won’t have to testify in a data privacy trial after Meta executives and shareholders reached a settlement with defendants who had accused them of failing to protect user data stemming from the Cambridge Analytica scandal.
  
  “Crypto Week” got back on track yesterday after House GOP lawmakers convinced the holdouts in their party to help advance a series of crypto-friendly bills.
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