What you need to know today

Trump assassination attempt
President Joe Biden addressed the nation from the White House, where he condemned all political violence and called for unity. “Disagreement is inevitable in American democracy,” Biden said. “It’s part of human nature. But politics must never be a literal battlefield, or God forbid, a killing field.”

The attempted assassination of former President Donald Trump at a rally in Pennsylvania on Saturday left one attendee and the gunman dead, and two more attendees in critical condition. Trump was grazed by a bullet and treated at a local hospital, but released late Saturday night. The FBI has identified the shooter, now deceased, as 20-year-old Thomas Matthew Crooks of Bethel Park, Pennsylvania. He used a semi-automatic weapon, according to NBC News.

China GDP slows
China’s economy expanded at a slower pace than expected, with second-quarter GDP growing 4.7%, falling short of the 5.1% forecast. This comes as the country’s top policymakers convene for the Third Plenum, a key meeting that will shape the country’s economic agenda.

While retail sales also disappointed, industrial production outperformed expectations, posting a 5.3% increase.

Dow above 40,000, again
The Dow Jones Industrial Average hit an all-time high and closed above 40,000 for the first time since May, driven by gains in Home Depot and Caterpillar, as investor sentiment shifts away from Big Tech towards some industrial stocks. The move was sparked by hopes of a Fed rate cut following a softer-than-expected inflation report.

The S&P 500 and Nasdaq also rose, but at a slower pace than the Dow, which gained 1.6% for the week.

Google’s biggest deal?
Google’s parent company Alphabet is nearing a $23 billion deal to acquire Wiz, an Israeli cybersecurity startup specializing in cloud security, the Wall Street Journal reported, citing sources. The acquisition would be Google’s largest ever.

Founded in 2020, Wiz has quickly grown and secured investments from prominent firms like Sequoia Capital and Insight Partners. The potential deal reflects Google’s increasing focus on bolstering its cybersecurity offerings and cloud computing capabilities.

GDP data sinks Hong Kong
Asia-Pacific markets were mixed on Monday as China’s GDP data missed expectations and investors assessed the impact of an assassination attempt on former U.S. President Donald Trump. David Roche, president of Quantum Strategy, said in a note on Sunday that Trump would win the presidency, with an increased probability of a Republican clean sweep of both the House of Representatives and the Senate.

Hong Kong’s Hang Seng index dived 1.6%, while mainland China’s CSI 300 rose 0.15%. Australia’s S&P/ASX 200 extended gains to a third straight day, up 0.73%, hitting a fresh all-time high. South Korea’s Kospi gained 0.14%. Japan’s markets are closed for a public holiday.