Good morning, you're listening to Markets Desk.
The Federal Reserve's July meeting closed on a fractious note, with policymakers voting nine to three to hold rates steady. Fed Chair Kevin Warsh's first major press conference exposed deep disagreement over how to read inflation data, with tariff-driven goods prices and volatile energy markets pulling the picture in competing directions. Markets are watching the dissents closely.
Shifting to electric vehicles, NIO delivered thirty-five thousand nine hundred thirty-four vehicles in July of twenty twenty-six, a seventy-one percent jump year over year. The gains were spread across both its flagship NIO brand and the younger ONVO line, signaling that Chinese EV demand remains resilient despite ongoing competitive pressure and global trade headwinds.
And in the software revenue story Wall Street has been waiting on from Tesla, its ninety-nine-dollar-a-month Full Self-Driving subscription is now tracking toward one point eight billion dollars in annualized revenue. That recurring software layer represents a meaningful margin opportunity distinct from vehicle sales, and analysts are beginning to price it as a standalone profit engine rather than a footnote.
That's the tape. Markets Desk, signing off the floor.
