5 Key Business & Market Updates: July 21, 2025

Market Movers and Shakers

• 📈 Block's shares are surging after the announcement that it will join the S&P 500, replacing Hess which was acquired by Chevron.

Airline Operations and IT Issues

• ✈️ Alaska Airlines resumed operations after a 3-hour IT outage caused a system-wide ground stop for its flights and Horizon Air.
• ⚠️ The specific nature of the IT outage was not disclosed by Alaska Airlines.

Global Trade and Rare Earths

• 🌏 China's rare earth magnet exports to the US significantly increased in June, more than seven times May's levels, following eased trade tensions.
• 📉 Despite the June surge, exports were still about 40% lower than the same month last year.

Federal Reserve Probe

• 🏛️ Trump administration officials are reportedly planning to visit the Federal Reserve as part of a probe into headquarters renovations.
• 📰 This visit occurs amid speculation about President Trump's potential attempts to remove Fed Chair Jerome Powell.

CEO Resignation Amidst Social Media Incident

• 🎤 Astronomer's CEO Andy Brown has resigned days after being featured on a kiss cam at a Coldplay concert with the company's head of HR.
• 🔍 The company had launched a formal investigation into the incident, which gained significant social media attention.