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Scoop: Lawmaker asks SEC to investigate Truth Social's plan to monetize access to its data

Markets

Axios Markets

Why China's "national team" buys up stocks

A column chart that shows monthly percentage changes in China Shanghai A-Shares from July 2025 to July 2026. Gains peaked at 7.97% in August 2025, while the lowest reading was -6.51% in March 2026. Returns turned mostly negative from March through July 2026.

Percentage change in China Shanghai A-Shares

Data: FactSet; Note: July data is month-to-date through close of the Chinese session on July 21, 2026; Chart: Matt Phillips/Axios

Fintech Deals

Jersey Mike's sets IPO terms

Closer

Axios Closer

AMC stock soars: "The Odyssey" delivers blockbuster weekend

The great AI wealth transfer

Free cash flow expectations over the next 12 months 

Data: FactSet; Note: Rolling analyst consensus expectations for free cash flow over the next 12 months. Hyperscalers are Amazon, Alphabet, Meta, Microsoft and Oracle. Semiconductor companies are Nvidia, Broadcom, Applied Materials and Micron; Chart: Matt Phillips/Axios

Investors blink on the AI trade

A line chart that tracks daily percentage price changes for five semiconductor stocks and an ETF from June 22 to July 17, 2026. Intel fell the most, down 32.6%, followed by Micron at 29.9% and the ETF at 20.3%. Nvidia was the most resilient, ending down 2.8%.

Change in price for select semiconductor stocks

Data: Financial Modeling Prep; Chart: Emily Peck/Axios

SpaceX falls under IPO price, as lockup expirations loom

A line chart that tracks SpaceXâs daily share price from June 11 to July 16, 2026. The price rose from 135 to a peak of 201.8 on June 16, then trended downward. It ended at the period low of 131.11 on July 16.

SpaceX share price

Data: FactSet; Note: The shares priced on June 11, 2026 at $135 a share and began trading publicly the next day; Chart: Matt Phillips/Axios

Exclusive: Truth Social to license its data to Wall Street

Buffett and Kalshi: Two views of America's gambling boom

Wall Street banks reap windfall from stock and debt sales

A column chart that shows combined quarterly debt and equity underwriting revenue at J.P. Morgan, Goldman Sachs and Citigroup from Q3 2020 to Q2 2026. Revenue peaked at $6.449 billion in Q1 2021, fell to $1.57 billion in Q4 2022, then recovered to $5.44 billion in Q2 2026.

Debt and equity underwriting revenue at J.P. Morgan, Goldman Sachs and Citigroup  

Data: FactSet, Company filings; Chart: Matt Phillips/Axios

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