The Rundown

Big Tech is spending more on AI than ever before, but investors are starting to question when that investment will actually pay off. John Petrides of Tocqueville Asset Management joins Zaid to break down Google's surprising earnings reaction, why soaring AI capital spending is becoming a growing concern, and what to expect from Microsoft, Amazon, and Meta as earnings season heats up. They also discuss rising oil prices, the possibility of Fed rate hikes, whether markets are underestimating geopolitical risks, and why the health of the U.S. consumer could become the biggest story of the second half of the year. If AI has been the market's biggest tailwind, this conversation explores what could happen if that narrative begins to change.

In this weekend deep dive, Zaid breaks down Kimi K3, the new Chinese AI model that rattled tech stocks and revived fears that America’s AI lead is shrinking. Zaid explains why cheaper open-weight models could pressure companies like OpenAI and Anthropic, why this might be a good thing for Nvidia and the broader AI buildout, and what Washington should do as China closes the gap.

Market update for Friday July 24, 2026.

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In today’s episode, Zaid covers:
Trump's new tariffs on 60 countries that took effect overnight

Intel’s blowout earnings and why the chipmaker is finally benefiting from the AI boom

Oracle’s a $7 billion deal with the Pentagon 

Why American Express stock is falling despite strong consumer spending and an earnings beat

How Google’s SpaceX investment distorted their quarterly earnings

Market update for Thursday July 23, 2026
Check out the Public app for incredible investing tools and to support the show (LINK)
Follow us on Instagram (@TheRundownDaily) for bonus content and instant reactions.
In today’s episode, Zaid covers:
Oil prices are surging toward $100 and why bond yields are rising 

Google posts blowout cloud numbers, but its $205 billion spending plan spooked Wall Street

Tesla's car sales are back, but profits fall and cash flow went negative

ServiceNow’s jumps on strong growth 

IBM is still struggling after its brutal earnings warning

Fun fact: The Japanese yen just fell to its weakest level in roughly 40 years

Market update for July 22, 2026
Check out the Public app for incredible investing tools and to support the show (LINK)
Follow us on Instagram (@TheRundownDaily) for bonus content and instant reactions.
In today’s episode, Zaid covers:
Chip stocks bounce back, but rising oil prices and new tariffs are building inflation pressure

SpaceX sets its first earnings and massive share unlock as short sellers pile in

Novo Nordisk sues Eli Lilly over weight-loss drug ads

Super Micro surges on stronger margins and record AI server demand

GE Vernova drops despite raising its outlook

Kraft partners with Mickey Mouse to recharge growth