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Stories Behind the Numbers

Fresh takes on the economic news of the day, published as it happens.

Jul 24, 2026

Tesla Drops 14.5%, Google Drops 7%: The Day the AI Bubble Cracked

U.S. stock markets suffered a major selloff on July 23 following Q2 earnings from Tesla and Alphabet. Tesla stock plummeted 14.5% after reporting a 57% drop in operating profit and negative free cash flow (-$1.1 billion). Alphabet shares fell 7.1% after management raised full-year 2026 capital expenditure guidance to $195–$205 billion.

Jul 24, 2026

10.3 Months of Unsold Homes: The Housing Glut Nobody is Talking About

The U.S. Census Bureau and HUD released the official New Residential Sales report. New single-family home sales fell to an annual rate of 580,000, while unsold new house inventory rose to 496,000 units, representing a 10.3-month supply of new housing.