- Strategy (MSTR) shares jump. President Donald Trump called for Congress to pass the Clarity Act, a crypto market structure bill that’s stalled over disagreements concerning ethics provisions. The bill failed to come to a vote before the Senate’s August recess.
- Ross Stores (ROST) shares climb. The off-price retailer boosted its earnings per share forecast for the full year. The company said it saw strength throughout the second quarter, with comparable store sales growth supported by “both an increase in new customers and higher engagement from existing customers.”
- Broadcom (AVGO) shares rise. Broadcom Inc. is in talks with lenders to raise more than $60 billion in debt for an AI chip financing deal that will benefit Anthropic PBC and other companies. The financing may include a roughly $30 billion junior debt tranche and a senior-secured tranche that could range from about $60 billion to $70 billion. The potential deal would help firms including Anthropic access chips and other key AI infrastructure, with talks ongoing and details subject to change.
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