- Peloton shares jumped 10% as the company reported its first sales growth in nine quarters, beating expectations. The fitness company’s turnaround plan is showing progress, with shrinking losses and a shift in focus from growth to profitability.
- The Federal Reserve is leaning towards a likely interest rate cut in September, according to minutes from their July meeting. Some members even considered cutting rates in July, citing progress on inflation and unemployment. Markets are now fully expecting a September rate cut.
- Bavarian Nordic shares surged over 13% after the Danish biotech company reported better-than-expected earnings and secured a large order for 440,000 mpox vaccine doses from an undisclosed European country. This follows the WHO’s recent declaration of mpox as a global public health emergency.
