Wall Street’s Big Week for Earnings and Economic Data

Andrew here. A fascinating development on Sunday underscores the brutal economics of the artificial intelligence race: Anthropic extended access to Fable, the consumer version of its high-powered Mythos model, for another week, delaying a plan to charge extra for it.

Because Fable requires so much computing power, Anthropic is most likely taking a loss on the move. The extension came after fierce internal debate, driven by fear that users would otherwise flock to OpenAI’s new GPT-5.6 model, which some find comparable or even superior.

This is more than a product story. It is a perfect prisoner’s dilemma, with tech giants burning cash to take market share before potentially trillion-dollar I.P.O.s. There’s a huge question with enormous consequences: Are these A.I. giants becoming low-margin commodities — or can they find a way to make huge profits?

What to watch for this earnings season

Even as the U.S.-Iran cease-fire unravels, stocks are approaching record territory again. And some on Wall Street see the rally grinding higher still.

Article source: https://www.nytimes.com/2026/07/13/business/dealbook/wall-street-earnings.html