Finance

Shares of Amazon gained ground to help propel the e-commerce and cloud computing giant past the $3 trillion market valuation milestone for the first time. The surge follows a highly successful second-quarter financial report highlighted by accelerating growth in Amazon Web Services. Management also sharply raised its capital expenditure projections to accommodate massive long-term demand for artificial intelligence infrastructure.

A joint effort by the U.S. Treasury and Japanese financial authorities prompted a strong rebound for the yen after it recently plunged to a 40-year low against the dollar. The rare, coordinated currency market stabilization effort lifted the yen back near 157 per dollar. While the move succeeded in containing localized currency tremors, market strategists question whether it will lead to any sustained strength given Japan's broader macroeconomic fundamentals.

American Bitcoin Corp., the digital asset mining company backed by Donald Trump Jr. and Eric Trump, reported a net loss of over $57 million for the second quarter. The setback was primarily driven by recent steep declines and high volatility across the broader cryptocurrency market. Despite more than doubling its revenue year-over-year, the company's valuation suffered as digital assets remain pinned down in an ongoing bear market cycle.