What $70K Teslas and $12T in Assets Say About Our Global Economy

Money Masters' Market Movers 29

July 16, 2025

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Dear Money Master,

This week’s financial landscape is buzzing with drama, disruption, and some serious power moves.

Mortgage demand just took a double-digit dive, collapsing 10% as rates jumped to 6.82%, exposing just how fragile housing demand really is. Meanwhile, inflation is slowly but surely creeping back into the spotlight with U.S. CPI hitting 2.7%, and Argentina still improving while battling a brutal 39.4% annual inflation rate.

Over in tech, Apple is staking $500 million on rare earth independence, and Baidu is shoving the driver’s seat aside, as it launches self-driving Ubers across the globe. Oh, and did we mention Tesla’s debut in India with a $70,000 SUV? In a market that thrives on affordability, it’s a bold, eyebrow-raising bet.

On Wall Street, the big banks are out with earnings. Citigroup crushed expectations with a 25% profit surge, JPMorgan flexed despite a messy Visa comparison, and BlackRock set a record $12.5 trillion in AUM... but still missed on revenue thanks to a $52B client exit. Wells Fargo beat on profit but quietly slashed its 2025 forecast. 🪙💼

📰 Your Daily Financial Digest - July 16th, 2025

🌍 Economics & Finance:

  1. Mortgage Applications Dive 10% as Rates Spike 📉
    The average 30-year mortgage rose to 6.82%, sending total applications tumbling. Home purchase loans fell 12%, the slowest pace since May, as potential buyers back off amid economic unease. Read More

  2. U.S. Inflation Rises to 2.7% as Tariff Pressure Builds 🧾
    Consumer prices climbed 0.3% in June, driven partly by new tariffs. Annual inflation now sits at 2.7%, and core inflation reached 2.9%, slightly cooling market expectations of near-term Fed rate cuts. Read More

  3. Argentina Posts Lowest Inflation Since February 🇦🇷
    June CPI came in at 1.6%, with annual inflation now at 39.4%. It’s a relief, but inflation remains one of Argentina’s biggest economic hurdles. Read More

💻 Technology:

  1. Apple Locks In Rare Earth Supply With $500M MP Materials Deal ⚙️
    Apple will source rare earth magnets from a Texas facility and build a recycling plant in California, ensuring long-term control over essential iPhone components. Read More

  2. Baidu-Uber Team Up for Global Driverless Ride-Hailing 🚘
    Baidu’s Apollo Go robotaxis will debut in Asia and the Middle East through Uber’s platform later this year, marking a major international expansion of China’s autonomous car tech. Read More

  3. Tesla Launches $70K Model Y in India 🇮🇳
    The electric SUV made its India debut with a steep price tag and a new Mumbai showroom. Plans for New Delhi and nationwide infrastructure are also in motion. Read More

💹Earnings:

  1. Citigroup Smashes Q2 Estimates With $4B Profit 🏦
    The bank’s $1.96 EPS beat forecasts by 23%, driven by strong equity trading and 18% growth in banking revenue. Read More

  2. JPMorgan Tops Forecasts Despite Drop From Visa Windfall 💳
    Q2 earnings hit $5.24 per share, boosted by strong trading and banking. Revenue of $45.68 billion beat expectations, even as profits dipped year-over-year. Read More

  3. Wells Fargo Beats Profit Estimates But Trims Forecast 🧾
    While Q2 profit was strong, the bank cut its full-year interest income guidance due to weaker performance in its markets unit. Read More

  4. BlackRock AUM Hits $12.5T, But Revenue Misses Estimates 📉
    Despite a record in assets under management, revenue came in just below forecasts, dragged down by a $52B redemption from a single institutional client. Read More

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