China is going to need a bigger stimulus plan

$562B

Chinese markets shrugged off new government plans to push some $562 billion (¥4 trillion) worth of loans to developers and have them complete stalled housing projects, as policymakers continue to struggle to deliver on high expectations for stimulus that could reinvigorate growth in the world’s second-largest economy.

Chinese property stocks sold off on the news, which was announced by China’s housing ministry. The broader markets also slumped, with Hong Kong’s Hang Seng and the mainland’s CSI-300 both down roughly 1%.

Chinese stocks have sputtered hard recently, giving up nearly half the massive gains they generated over the last several weeks that followed after Chinese financial regulators seemed to signal a new, serious push to boost growth. But so far, Beijing has been reluctant to actually produce the monetary bazooka that they seemed to promise was on the way.

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Hims rises on revenue beat, discloses it’s again in partnership talks with Novo

Hims also disclosed on Monday that it’s in talks with Novo Nordisk to make the drugmaker’s weight-loss drugs available on its platform. Last time, that didn’t go so well.

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Amazon and the AI trade sustain stock gains

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PAMPLONA, NAVARRA, SPAIN - 2025/07/09: Morante de la Puebla, a bullfighter from Seville fights a bull from the Alvaro Nunez ranch in Pamplona's Plaza Monumental during the 2025 San FermÌn festival

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Trump’s “impossible trinity” on AI and energy

Everyone loves a good trilemma.

In economics, the most famous of the genre was developed by Fleming and Mundell, which posits that you can only successfully achieve two of the following three objectives: the free flow of capital, a fixed exchange rate, and independent sovereign monetary policy.

George Pollack, senior US policy analyst at Signum Global Advisors, proposed a trilemma of his own to describe the Trump administration’s competing policy aims as a red-hot AI boom devours power and leaves households miffed by rising electricity bills.

He wrote:

“This note flags what we believe to be a simple reality whose salience will continue growing in US politics in coming months: the Trump administration, in its remaining three years will face a trilemma as the nation waits for its energy bet to play out — proving able to achieve two, but not all three, of the following objectives:

-Fulfill AI’s energy-appetite.
-Keep repressing renewable sources of energy.
-Appease American electricity consumers.”

As for evidence that the Trump administration is taking a fossil fuels-first approach while stunting renewables, Pollack pointed to the One Big Beautiful Bill Act, which shrinks access to tax credits for green energy, as well as the end to the federal pause on liquefied natural gas export permits. However, it would be “inaccurate and unfair” to blame President Trump’s policies for surging electricity prices in recent months, he added.

While the government has pursued the expansion of nuclear power as a way to solve this trilemma, the long lead times involved are incongruent with a short-term fix.

Palantir climbs toward a fresh record high ahead of earnings report

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