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Trump fires BLS commissioner over disappointing jobs report

President Trump said Friday that he directed his team to fire Erika McEntarfer, the commissioner of the Bureau of Labor Statistics, after the agency released jobs numbers that were below Wall Streets expectations and painted a subpar picture of the US economy.

The BLS reported nonfarm payrolls coming in at 73,000 in July, less than the expected 104,000, and issued major downward revisions to the prior two months. The data, along with tariffs and some disappointing earnings in megacap stocks, sent major indexes sliding.

A spokesperson for the BLS confirmed McEntarfer was terminated on Friday and said Deputy Commissioner William Wiatrowski will serve as acting commissioner.

Trump accused McEntarfer of fudging the numbers to undermine him and bolster Democrats, but did not provide any evidence. The president has recently lauded positive jobs reports released during McEntarfers tenure. The weak jobs numbers for July come as the administration has sought to fend off criticisms of how its shifting trade policies have impacted the economy.

“I have directed my Team to fire this Biden Political Appointee, IMMEDIATELY,” Trump wrote on his social media platform, Truth Social. “She will be replaced with someone much more competent and qualified. Important numbers like this must be fair and accurate, they can’t be manipulated for political purposes.”

Update (August 1, 4:25 p.m. ET): Updated with confirmation from BLS of McEntarfer’s termination.

Update (August 1, 4:25 p.m. ET): Updated with confirmation from BLS of McEntarfer’s termination.

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Visa reports solid beat on earnings

Visa inched up in after-hours trading, as it reported quarterly numbers that outpaced expectations. The solid, but unspectacular, outperformance — it beat earnings-per-share estimates by a penny — is par for the course for a company that’s developed a reputation as a boring, but consistent, moneymaker seemingly indifferent to economic conditions.

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Lucid plans to build a privately owned autonomous car with Nvidia tech

Shares of Lucid vaulted briefly on Tuesday afternoon following the company’s announcement that it will team up with Nvidia to bring Level 4 autonomous driving to its future vehicles.

A still unnamed midsized SUV by Lucid, planned for 2026, will feature lidar and radar provided by Nvidia’s ecosystem. Ultimately, the automaker said it aims to create the “first true eyes-off, hands-off, and mind-off (L4) consumer owned autonomous vehicle.” Level 4 autonomous vehicles, like Waymo’s robotaxis, operate without human intervention.

The Nvidia partnership will also bring new automated features to Lucid’s Gravity SUV, the luxury EV maker said. Its shares rose more than 6% before losing all those gains and dipping into the red.

Lucid and Nvidia’s announcements came along with a host of other new partnerships at the chip designer’s GPU Technology Conference in Washington, DC.

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