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Twenty-five U.S. technology companies, including IBM, Meta Platforms, NVIDIA and Microsoft, signed a joint letter urging open model weights. The letter says open-weight models are critical to a healthy AI ecosystem and that the U.S. faces a choice on openness. It acknowledges real, unique risks from openness but argues that openness may be essential to AI safety, since closed models can be hacked, misused or fail in ways undetectable externally. Open weights, the letter says, allow broader researcher and developer scrutiny to identify vulnerabilities, build defenses and iteratively improve models.

The annualized total of U.S. new home sales for June will be released in ten minutes.

The initial value of the S&P Global Services PMI in the United States in July was 53.6, which was expected to be 51.5 and the previous value was 51.2.

The preliminary reading of the S&P Global Composite PMI for July in the United States was 53.6, below the expected 51.8 and the previous reading of 51.9.

The initial value of the S&P Global Manufacturing and Services PMI in July will be announced in ten minutes.

American Express (AXP.N) fell more than 5%. Q2 results were mixed, revenue fell short of expectations, and full-year guidance was raised.

The Dow Jones Industrial Average opened 101.65 points higher, or 0.20%, at 51,813.30 on Friday, July 24; the S&P 500 opened 1.66 points higher, or 0.02%, at 7,409.76; and the Nasdaq Composite opened 15.39 points lower, or 0.06%, at 25,122.31.

JP Morgan Chase raised the target price of Raytheon Technologies (RTX.N) from $215 to $240.

American Express (AXP.N) shares extended their pre-market decline to 5%.

German government spokesman: The federal government will continue to coordinate closely with the European Commission and European partners responsible for trade matters.

German government spokesman: The federal government is committed to stability and predictability in trade relations.

German government spokesman: (Regarding the latest US tariffs) The federal government shares the view of the European Commission that the terms of the EU-US customs agreement will be respected.

U.S. White House official: U.S. President Trump and Ukrainian President Zelensky will meet in Washington on July 28.

BlackRock (BLK.N) launches U.S. investment-grade bond offering tied to Meta Platforms (META.O).

Nabiullina, Governor of the Central Bank of Russia: Taking into account the reduction in production capacity, the Russian economic outlook has been downgraded.

Morgan Stanley raised its target price on Intel (INTC.O) to $84 from $75.

Reuters survey: British inflation is expected to average 3.1% in 2026 and economic growth is 1.0% (the June survey was 3.3% and 1.0% respectively).

Reuters poll: The median shows the Bank of England is expected to keep interest rates unchanged at 3.75% until the middle of next year.

A Reuters poll of 70 economists indicates that the Bank of England will keep interest rates at 3.75% at its meeting on July 30.

Romanian military: Russia's nighttime attack on Ukraine's Odessa region was intense on Friday.