Key Takeaways
- Intel (INTC) is reportedly seeking outside investors as it moves to spin off its Network and Edge Group (NEX) into a new, independent company, aiming to sharpen its focus on core businesses.
- The U.S. Treasury has begun accepting payments via Venmo and PayPal for voluntary contributions toward the $36.7 trillion national debt, a move aimed at modernizing public finance.
- The National Highway Traffic Safety Administration (NHTSA) has closed its 14-month investigation into Alphabet's (GOOGL) Waymo self-driving vehicles following reports of collisions and unexpected behavior, without taking further action.
- The U.S. oil rig count decreased by 7 to 415, contributing to a total U.S. rig count of 542, according to Baker Hughes data.
- The Federal Reserve saw 24 counterparties take $150.509 billion at its latest reverse repo operation, indicating ongoing liquidity management in the financial system.
In corporate news, semiconductor giant Intel (INTC) is reportedly initiating a spin-off of its Network and Edge Group (NEX), with plans to establish it as a standalone entity. The company is actively looking for strategic investors for this new venture, although Intel intends to remain an anchor investor. This strategic realignment is part of CEO Lip-Bu Tan's broader effort to concentrate on Intel's core strengths in PC and data center chips.
Meanwhile, the U.S. Treasury has introduced a novel approach to public finance, now accepting voluntary contributions towards the national debt through popular digital payment platforms like Venmo and PayPal. Citizens can make these "gifts to reduce the public debt" via the Pay.gov portal. Despite the national debt currently standing at a staggering $36.7 trillion, voluntary donations have historically been modest, totaling just $180,310.32 in fiscal year 2022. Some calculations suggest that each U.S. citizen would need to contribute approximately $77,000 to pay off the current national debt.
In the autonomous vehicle sector, Alphabet's (GOOGL) self-driving unit Waymo received a significant update as the National Highway Traffic Safety Administration (NHTSA) closed its 14-month investigation. The probe, which began in May 2024 following 22 reports of Waymo robotaxis exhibiting unexpected behavior and 17 collisions, concluded without further action, citing two recalls issued by Waymo and the agency's data analysis.
Energy markets saw a slight contraction in drilling activity, with the latest Baker Hughes data indicating a decrease in the U.S. oil rig count by 7 to 415. The total U.S. rig count also fell by 2 from the previous week, settling at 542. Conversely, the number of gas rigs saw a modest increase of 5 to reach 122.
In global financial operations, the Federal Reserve reported that 24 counterparties participated in its reverse repurchase agreement (repo) operation, taking $150.509 billion. This daily operation is a key tool used by the Fed to manage liquidity within the banking system and influence the federal funds market.
Geopolitical discussions also continued, with the Qatar Foreign Ministry announcing that its Prime Minister and Foreign Minister discussed the latest developments in the Iranian nuclear file negotiations and the situation in Gaza and the occupied territories during a call with Iran's Foreign Minister. Qatar reiterated its commitment to diplomatic efforts to foster dialogue and consolidate regional security. These discussions follow recent "frank and detailed" nuclear talks between Iran and the E3 bloc (Germany, France, and Britain). Separately, it was reported that President Trump is expected to release a list of Jeffrey Epstein associates, according to Fox News. However, the Department of Justice (DOJ) previously issued a memo on July 7, 2025, stating there was no "incriminating client list" and no credible evidence of blackmail by Epstein.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.