Key Takeaways
- The UK Supreme Court has delivered a significant ruling in motor finance cases, determining that commissions paid to car dealers are not bribes and that dealers are not legally bound by a blanket fiduciary duty to customers. This decision grants partial relief to lenders.
- Both the New York Federal Reserve and Atlanta Federal Reserve have revised their Q3 2025 GDP growth forecasts downwards, indicating a potential slowing trend in the U.S. economy.
- Morgan Stanley (MS) has substantially increased its price targets for two major companies: Roblox (RBLX) saw its target more than double to $170 from $76, while Apple (AAPL) received a modest bump to $240 from $235.
- The cryptocurrency market experienced a notable downturn, with $805 million in total liquidations occurring over the past 24 hours.
- Imperial Oil (IMO) announced the commencement of renewable diesel production at its Strathcona facility in Alberta in July, marking a key operational milestone in its clean energy strategy.
The UK Supreme Court has issued a landmark ruling in the contentious motor finance commission cases, providing a degree of relief to lenders. The court determined that commissions received by car dealers are not to be considered bribes, and crucially, that car dealers do not owe a blanket fiduciary duty to their customers. This decision reverses earlier interpretations by the Court of Appeal, which had suggested a broader liability for lenders. The ruling is expected to have significant implications for the UK financial sector, potentially mitigating a previously estimated £30 billion compensation bill.
Economic indicators from the United States suggest a tempering of growth expectations for the third quarter of 2025. The New York Federal Reserve's GDP Nowcast for Q3 was revised down to 2.12% from a previous 2.37%. Similarly, the Atlanta Federal Reserve's GDPNow model also saw its Q3 estimate reduced to 2.1% from an earlier 2.3%. These downward revisions from prominent Federal Reserve models signal a watchful stance on the pace of economic expansion.
In corporate news, Morgan Stanley (MS) has demonstrated strong confidence in the growth prospects of several companies by raising their stock price targets. The investment bank significantly increased its price target for gaming platform Roblox (RBLX) to $170 from $76, indicating robust growth expectations for the company. Concurrently, Morgan Stanley also raised its price target for tech giant Apple (AAPL) to $240 from $235, maintaining an "Overweight" rating on the stock. This comes after Apple reported strong fiscal third-quarter earnings for 2025, surpassing analyst expectations for revenue and earnings per share.
The volatile cryptocurrency market experienced substantial liquidations, with a total of $805 million wiped out in the past 24 hours. This significant liquidation event highlights the inherent risks and rapid price movements within the digital asset space.
In the energy sector, Imperial Oil (IMO) announced the start of renewable diesel production at its Strathcona facility in Alberta during July. This marks a crucial step for the company in expanding its clean energy portfolio and contributing to lower-carbon fuel alternatives. The facility is projected to produce over 1 billion liters of renewable diesel annually once fully operational.
Meanwhile, the acquisition landscape remains active, with KKR (KKR) officially acknowledging a higher offer from Advent International for Spectris (SXS). Advent increased its bid to £41 per share, surpassing KKR's previous offer of £40 per share, leading Spectris's board to recommend Advent's proposal. KKR is currently evaluating its response to the revised bid.
Finally, in the automotive industry, Honda (HMC) reported its July total sales reached 121,017 units, representing a slight increase of 0.2%. The company saw record sales in light trucks and electrified models, supported by new product introductions for both the Honda and Acura brands.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.