The Dow Jones Industrial Average slipped 0.18% Friday morning, falling 95.67 points to 52,112.39, as investors sorted through a dramatic split in reaction to earnings from Apple and Amazon, two of the market’s most closely watched technology giants, released after Thursday’s closing bell.

Apple shares fell roughly 8% to around $307.89 despite the company reporting a record fiscal third-quarter 2026 performance, according to financial analysis from 24/7 Wall St. The decline came after Apple’s results fell short of investor expectations specifically in its Services division and its China business, an area facing intensifying competitive pressure from domestic manufacturers. The stock had been trading just below record highs heading into the earnings release, having recently cleared the $5 trillion valuation threshold and briefly reclaimed the title of world’s most valuable publicly traded company. Rick Rodda, an analyst quoted by TheStreet, characterized the market’s reaction bluntly. “The results appear not quite good enough to justify such lofty valuations,” Rodda said.

Amazon told a starkly different story. Shares of the e-commerce and cloud computing giant jumped as much as 12% to roughly $263.07, according to 24/7 Wall St., after the company delivered a blowout quarter powered substantially by strength in Amazon Web Services, its cloud computing division. The strong results helped fuel a broader rebound across technology stocks Friday morning, according to TheStreet, easing some of the concerns that had built up in recent weeks about the sustainability of massive capital spending on artificial intelligence infrastructure.

The divergence between the two companies reflected a common underlying dynamic playing out in opposite directions, according to 24/7 Wall St.’s analysis. Both Apple and Amazon face the same tight global supply of memory chips and advanced semiconductors driven by surging AI-related demand, but Amazon has been able to convert that dynamic into stronger cloud revenue growth, while Apple has faced more direct cost and margin pressure on the hardware side of its business as component prices have climbed.

Friday’s mixed earnings reaction followed an extraordinary session in Asian markets overnight. South Korea’s KOSPI index jumped nearly 18% overnight, triggering trading halts, as chip stocks across the region rebounded sharply following Thursday’s blowout earnings report from Microsoft, according to Yahoo Finance. That Microsoft rally, in which shares surged roughly 15% for the company’s best single-day performance in nearly 18 years, had already begun reshaping sentiment toward the broader technology sector before Apple’s and Amazon’s results added further volatility to Friday’s session.

The S&P 500 gained 0.67% and the Nasdaq Composite advanced 1.32% in early Friday trading, according to TheStreet, while the Russell 2000, tracking smaller-capitalization companies, climbed 1.37%. The overall market gains came even as the Dow’s more modest performance reflected its comparatively lighter weighting toward the technology names driving much of Friday’s volatility.

Friday’s trading capped one of the busiest stretches of corporate earnings season, with Amazon, Apple and Coinbase all reporting results after Thursday’s closing bell alongside Microsoft and Meta Platforms’ results from earlier in the week. Thursday’s session itself had already produced a substantial rally, with the Dow surging 613.92 points, or 1.2%, to close at 52,208.06, while the S&P 500 climbed 1.7% to 7,437.64 and the Nasdaq Composite jumped 2.8% to 25,122.18, according to CNBC.

Analysts at JPMorgan noted Wednesday that hedge funds and other large investors had likely finished unwinding their positions in technology, chip and memory stocks as part of a broader effort to reduce leverage, a dynamic the bank suggested was a favorable signal for continued stabilization in the semiconductor trade heading into the new trading week.

The Invesco QQQ Trust, an exchange-traded fund tracking the Nasdaq 100 that holds both Apple and Amazon among its largest individual weightings, found itself caught between the two companies’ offsetting moves Friday, according to 24/7 Wall St., muting what would otherwise have been a cleaner overall gain for the technology-focused fund. The QQQ had closed Thursday at $683.55, up 3.3% ahead of the two companies’ earnings reports, and remained up 11% for the year heading into Friday’s session.

Falling oil prices provided additional support to broader market sentiment heading into the week’s final trading session, following easing tensions after Iran discussed the future of the Strait of Hormuz with Saudi Arabia and Oman earlier in the week, according to CNBC.

With Apple and Amazon’s contrasting results now fully digested by markets and a busy earnings season largely behind investors heading into August, market participants are likely to continue watching closely whether the artificial intelligence infrastructure spending trend that has driven much of this year’s technology-sector volatility can settle into a more stable pattern in the weeks ahead, particularly given the sharp divergence in how individual companies’ earnings have been received even within the same broader AI-driven investment cycle.

Operator

Good morning, and welcome to Brunswick Corporation’s Second Quarter 2026 Earnings Conference Call [Operator Instructions]. Today’s meeting will be recorded. If you have any objections, you may disconnect at this time.

I would now like to introduce Stephen Weiland, Senior Vice President and Deputy CFO of Brunswick Corporation.

Stephen Weiland
Deputy CFO & Senior VP

Good morning, and thank you for joining us.

With me on the call this morning are David Foulkes, Brunswick’s Chairman and CEO; and Ryan Gwillim, Brunswick’s CFO.

Before we begin with our prepared remarks, I would like to remind everyone that during this call, our comments will include certain forward-looking statements about future results. Please keep in mind that our actual results could differ materially from these expectations.

For details on the factors to consider, please refer to our recent SEC filings and today’s press release. All of these documents are available on our website at brunswick.com.

During our presentation, we will be referring to certain non-GAAP financial information. Reconciliations of GAAP to non-GAAP financial measures are provided in the appendix to this presentation and the reconciliation sections of the unaudited consolidated financial statements accompanying today’s results. I will now turn the call over

Now, in case you didn’t see it, please rush out, get today’s Wall Street Journal, and read James Freeman’s fabulous column: “How about Reagan-Style Reconciliation?” All right. I was there as a young man, deputy in the Office of Management and Budget, and it’s all music to my ears.

Basically, President Reagan’s tax cut magic. The first major vote was roughly 45 years ago, July, 1981. Reagan’s big tax cut bill passed the House by 238 to 195 votes. It was a Democratic House, remember that. A bit later by the by, the Senate would pass it 89 to 11. It was a Republican Senate.

The Gipper signed the legislation at his ranch that August. Now, this was absolutely the key element to the Reagan revolution, which was a supply-side revolution, which basically argued that you lower taxes to promote growth, jobs, wages, wealth, and a strong national security. Reagan’s tax cuts brought joy and prosperity to a whole nation desperately in need of both. 

Now, as Art Laffer puts it, if you tax something less, you get more of it. You tax the whole economy less as Reagan did, and the economic pie grew larger and larger.  In other words, incentives matter. If you keep more of what you earn, you’re going to work harder, invest more, take more risks, and the economy grew. Those 1981 tax cuts helped the economy roar. With real growth of about 5.5 percent per year for more than seven years during Ronald Reagan’s two terms. 

The stock market roared, as did jobs, and frankly, the whole national morale roared. It was so demoralized during the Carter years, but under Reagan, the animal spirits and the happiness indexes just jumped off the page. And the enormous growth in the American economy created the resources that ultimately Mr. Reagan used to destroy Soviet communism. Peace through strength was an integral part of supply side economics. Mr. Freeman does a wonderful job of reminding all of us of the phenomenal benefits of Mr. Reagan’s supply side tax cuts.

And yes, Mr. Laffer’s curve, the famous Laffer Curve, where he suggested that lower tax rates would produce higher tax revenues with more economic growth and less tax avoidance. Well, it worked out very well. The revenue base actually jumped by almost 25 percent during the whole Reagan boom.

Now, remember, Tip O’Neill was the liberal Democratic speaker. He opposed the Reagan tax cuts, but he got rolled. In the House, 48 Democrats voted for Reagan, who himself, by the way, started out in politics as a Democrat.

What a list of tax cuts. The 25 percent income tax was the headline led by the late Jack Kemp. There were lower taxes on marriage, estates, inheritance, capital gains, interest, dividends, savings, retirements, and businesses. Oh my God. And it worked.

The tax cut magic worked. So I’ll just say, why not remember those days 45 years ago? I remember it very well. How about the Republicans today, thinking about the midterms, but more importantly, thinking about our whole national economy, our whole morale, our whole happiness, our national security. These are things that are helped and virtually solved by lower tax rates across the board.

The U.S. Department of Agriculture has issued a public health alert for a frozen burrito sold at Costco because officials claim it contains an undeclared allergen.

A product labeled as Red’s Steak Cilantro and Lime Burrito, which was produced on June 19, contains egg not declared on its label.

The burritos were shipped to Costco stores in Illinois, Michigan and Minnesota.

MORE THAN 12,000 POUNDS OF BACON RECALLED AFTER USDA ISSUES HIGHEST-RISK ALERT

A recall for the product wasn’t issued because the burritos are no longer for sale, but the USDA said they could be inside customers’ freezers.

The problem was discovered after a consumer flagged the issue to the company after they realized there was egg inside the burrito, and the company notified the USDA’s Food Safety and Inspection Service.

No adverse reactions have been reported after eating the burrito.

CYCLOSPORA OUTBREAK: IS IT STILL SAFE TO EAT AT RESTAURANTS? HERE’S WHAT TO KNOW

The burritos were both packaged individually and sold 10 in a 3 lb, 2 oz. carton.

The product lots for the affected burritos include: L1 SD6170 1503, L1 SD6170 1535, L1 SD6170 1606, L1 SD6170 1639, L1 SD6170 1717, L1 SD6170 1750, L1 SD6170 1831, L1 SD6170 1908, L1 SD6170 1954, L1 SD6170 2031, L1 SD6170 2108, and L1 SD6170 2130 on the side of the label.

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They also have “EST. 46069” inside the USDA mark of inspection.

Anyone who finds one of the burritos in their freezer is urged to throw them out or return them to where they were bought.

Red’s and Costco did not immediately respond to FOX Business’ requests for comment.

Success rarely comes from a single path. For Chris Pascale, it has been built through decades of discipline, hard work, and a willingness to pursue excellence in everything he does.

From running businesses and working in the flooring industry to winning fishing tournaments and poker competitions, Pascale has spent his life chasing goals and learning from every experience along the way.

Today, based in Naples, Florida, Pascale is known as a business owner, entrepreneur, outdoorsman, and competitor. His story offers a look at how focus and consistency can shape both a career and a life.

How Chris Pascale Developed His Competitive Mindset

Growing up, Pascale was drawn to activities that challenged him. Surfing became one of his earliest passions and introduced him to the discipline required to improve over time.

“I’ve always enjoyed things that push you,” Pascale says. “Whether it’s sports, business, fishing, or poker, I like the challenge of getting better.”

That mindset would stay with him throughout his life.

After earning an associate degree from Florida Atlantic University, Pascale entered the business world. Coming from a family business background, he was exposed early to the realities of ownership, responsibility, and customer service.

Those lessons would later influence how he approached his own ventures.

Building a Career in the Flooring Industry

Pascale eventually built his career in the flooring industry, where he developed a reputation for taking a full-service approach to business.

Over the years, he opened several businesses and gained firsthand experience navigating different markets and opportunities. While industries and projects changed, his philosophy remained the same.

“You have to stay focused on what you’re doing,” he says. “If you lose focus, you lose momentum.”

That commitment to consistency helped him build long-term relationships and sustain multiple business ventures throughout his career.

His experience as an owner also taught him the importance of adaptability.

“Every business has challenges,” Pascale says. “The people who last are the ones who keep moving forward and find solutions.”

What Leadership Means to Chris Pascale

While many people define leadership by titles, Pascale views it differently.

For him, leadership starts with personal discipline.

“Discipline is everything,” he says. “You can have goals, but if you don’t have discipline, those goals stay ideas.”

That principle has guided both his professional and personal life. Whether managing businesses, pursuing outdoor competitions, or planning future projects, Pascale emphasizes preparation and consistency over shortcuts.

He believes success is often the result of small actions repeated over time.

“People see the results,” he says. “They don’t always see the work that happens every day behind the scenes.”

That perspective has helped him navigate changing markets, economic cycles, and the demands of entrepreneurship over several decades.

Fishing, Competition, and a Life on the Water

Outside of business, Pascale has established himself as an accomplished fisherman and outdoorsman.

Based near the waters of Naples and Marco Island, he has earned a captain’s license and competed successfully in numerous fishing tournaments. His accomplishments include record catches, backwater slams, offshore slams, and sponsorships from fishing apparel and equipment companies.

His fishing experiences have taken him far beyond Florida.

Over the years, he has fished in Costa Rica, Panama, and destinations around the world. His achievements have also been recognized in publications including Florida Sportsman and Fish and Surf.

“Fishing teaches patience,” Pascale says. “You learn that preparation matters, but you also have to be ready when opportunities show up.”

Today, he continues to enjoy life on the water and owns a 48-foot Leopard sailing catamaran based in St. Thomas.

Lessons From Poker, Hunting, and Entrepreneurship

Pascale’s competitive spirit extends beyond business and fishing.

As an active poker player, he has competed in tournaments in Las Vegas, earning significant wins along with rings, trophies, and other accolades.

For him, poker offers lessons that apply well beyond the game itself.

“You have to stay calm and make good decisions,” he says. “Emotions can get in the way if you let them.”

His passion for hunting has also produced notable accomplishments, including Florida registry bucks, Osceola turkey successes, and wild boar records.

Across all of these pursuits, common themes emerge: preparation, patience, focus, and resilience.

Chris Pascale on Goals, Balance, and Long-Term Success

After decades of business ownership and personal achievement, Pascale remains focused on growth while maintaining balance.

He continues to explore new opportunities while enjoying the lifestyle he has worked hard to build.

“I’ve always believed in setting goals,” he says. “Once you reach one, it’s time to find the next challenge.”

At the same time, he values balance and perspective.

“You have to enjoy the journey,” Pascale says. “Success isn’t just one thing. It’s building a life you’re proud of.”

That philosophy has helped shape a career that spans entrepreneurship, competition, and outdoor adventure.

Whether leading businesses, navigating open water, or pursuing his next goal, Chris Pascale continues to demonstrate how discipline and focus can create opportunities across every stage of life.

Anand Mahindra can’t wait to get back home from the US because all the action is happening in India with a new, stable government led by Narendra Modi in place. Hours after chairing a board meeting of Mahindra & Mahindra at midnight US time, the company’s chairman and MD spoke on Saturday to Satish John at length from Boston on his hopes and aspirations for the country. The new administration has begun well and a lot more is expected from it, he said. Excerpts:

On Modi government’s 10-point agenda.

I think it is almost brilliant to put at the head of the list the fact that bureaucrats should be encouraged to take decisions without fear. In a sense he’s gone to the heart of the problem of the paralysis. The Indian government is extraordinarily large and it is difficult to try and believe that one leader can make all the change. This is a federal system. In a large bureaucracy you cannot exercise the transformation of any situation without coopting bureaucracy.

So empowerment becomes important. It’s a good sign. If you remember, one of the major apprehensions about Modi was an autocratic style of functioning. By putting right at the top of the agenda the empowerment of the bureaucracy I think one has to appreciate and admit that it is definitely not the act of an autocrat.

On disbanding ministerial groups.

Without making much heavy weather of it, he’s been a case study for business schools on how to exercise leadership and have an impact from day one in the new job. He’s setting a clear agenda and is making a clear promise of making a measurement of progress made against that clear agenda. For example, making an agenda for 100 days will make it clear what the matrix would be for measuring success of that agenda. It is important that every day some incremental progress is made towards that agenda and that progress is communicated transparently. He has got his team ready, which is a focused team. To me, every decision needn’t be a big-bang reform but a signal of proactive decision-making and removal of red tape and bureaucracy. And a promise of even speedier decision-making in the future.