📅  Economic Releases

Time (ET)EventImpact
8:30 AMAdvance GDP q/qHigh
8:30 AMCore PCE Price Index m/mHigh
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📊  Earnings Today

CompanyWhenEstimate
AAPL
Apple Inc.
AMC1.89
EPS Est
AMZN
Amazon.com, Inc.
AMC1.82
EPS Est
MA
Mastercard Incorporated
BMO4.78
EPS Est
SHEL
Shell plc
BMO3.18
EPS Est
BUD
Anheuser-Busch InBev SA/NV
BMO1.14
EPS Est
BBVA
Banco Bilbao Vizcaya Argentaria, S.A.
BMO0.59
EPS Est
BTI
British American Tobacco p.l.c.

EPS Est
SYK
Stryker Corporation
AMC3.49
EPS Est
BMY
Bristol-Myers Squibb Company
BMO1.60
EPS Est
MO
Altria Group, Inc.
BMO1.50
EPS Est
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📈  Premarket Gainers & Losers

▲ Top GainersCompanyChange
CORTCorcept Therapeutics Incorporated+25.28%
PRCHPorch Group, Inc.+18.12%
FORMFormFactor, Inc.+13.12%
CRMDCorMedix Inc.+11.27%
FTNTFortinet, Inc.+9.97%
GKOSGlaukos Corporation+9.49%
SFMSprouts Farmers Market, Inc.+8.62%
MSFTMicrosoft Corporation+8.26%
XIFRXPLR Infrastructure, LP+7.85%
EXLSExlService Holdings, Inc.+7.81%
▼ Top LosersCompanyChange
TDOCTeladoc Health, Inc.-19.83%
FTAIFTAI Aviation Ltd.-12.35%
TENBTenable Holdings, Inc.-11.98%
MDXGMiMedx Group, Inc-11.35%
METAMeta Platforms, Inc.-8.90%
CVNACarvana Co.-7.87%
CRNCCerence Inc.-5.51%
ESRTEmpire State Realty Trust, Inc.-5.17%
QCOMQUALCOMM Incorporated-5.13%
GPIGroup 1 Automotive, Inc.-4.72%
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🎯  Gamma Flip Point — $SPX (S&P 500 Index)

$SPX gamma flip point is 7379.95

 

🔥  Hot Market News

eBay Agrees to Pay $50 Million Settlement to Harassed Couple

eBay Inc. has agreed to pay nearly $50 million to David and Ina Steiner, a Massachusetts couple targeted by former eBay employees with harassment and threats, including anonymous deliveries of live insects, following their reporting on the company. The settlement includes additional charitable donations and allows the Steiners to speak publicly about their ordeal, which involved cyberstalking and a coordinated campaign of intimidation.

Wbur · 4 minute read

Goldman Says Japan’s AI Stock Trade ‘Not Broken’ After Rout

Goldman Sachs views the recent decline in Japan's AI-related stocks as a buying opportunity, citing the potential for a strong earnings season to renew interest in the semiconductor sector. Despite market volatility and geopolitical risks, the investment bank believes current valuations are attractive for investors and expects robust earnings growth in AI businesses.

Hedgeweek · 3 minute read

Bloom Energy Soars After Doubling Earnings Expectations, Increases Sales Forecast

Bloom Energy Corp. saw its shares rise by up to 14% after reporting second-quarter profits of 62 cents per share, far exceeding estimates and prompting an increase in its full-year sales forecast to $3.9 billion-$4.2 billion due to high demand for its fuel cells from data centers.

Energyconnects · 2 minute read

China bolsters its influence over Africa’s youth, survey shows

A biennial survey reveals that 95% of young Africans view China's influence positively, while only 85% see the U.S. similarly, amid growing favorable perceptions of Germany, the U.K., India, and Russia. In South Africa, only 58% regard the U.S. positively, with Russia gaining notably favorable views through military support initiatives against Islamist militants.

Co · 2 minute read

US-Saudi Strikes on Iran-Backed Militia Push Region into 'Uncharted Territory'

US-Saudi airstrikes on Iraqi sites linked with Iran-backed Popular Mobilisation Forces have killed at least 20 fighters, escalating tensions and drawing Tehran's allies like Yemen into the conflict. The Iraqi government condemned the attack as a violation of its sovereignty, while Iran responded by launching missiles at US military bases in Jordan, marking a significant escalation in the region's conflict dynamics.

The Guardian · 5 minute read

Kevin Gordon@KevRGordon

The Korean stock market's forward P/E continues to sink to all-time lows ... now down to 5.1x

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Kurt S. Altrichter, CRPS®@kurtsaltrichter

8 of the 10 biggest insider sellers last quarter were tied to AI. CoreWeave's founders alone have dumped over $2 billion since the IPO. Chip stocks just had their best quarter ever. The people who know the most are cashing out the fastest. $CRWV

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Sonu Varghese@sonusvarghese

Who'd have thought $CAT would be correlated to the KOSPI, but here we are 👏

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Mike Zaccardi, CFA, CMT 🍖@MikeZaccardi

No summer swoon for Swiss stocks... record high (just like Canada) @soberlook https://thedailyshot.com/subscribe/

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Global Property Guide@GlobalPropGuide

What does it cost to rent a 1-bedroom apartment across 🇪🇺 Europe? London: €3,460 Zurich: €2,720 Amsterdam: €2,275 Dublin: €2,000 Copenhagen: €1,865 Paris: €1,800 Madrid: €1,590 Oslo: €1,555 Lisbon: €1,500 Milan: €1,500 Vienna: €1,200 Stockholm: €1,200

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Mike Zaccardi, CFA, CMT 🍖@MikeZaccardi

China stocks continue bouncing back... look at the Hang Seng > 200dma @soberlook @stockcharts https://articles.stockcharts.com/article/china-stocks-are-beating-ai-chip-stocks-heres-why-it-matters/

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Daily Chartbook@dailychartbook

"Amid increased hostilities in the middle east and rising oil prices, HFs net bought US Energy stocks for a sixth straight week (+0.7 SDs 1-year), driven by risk unwinds with short covers outpacing long sales (1.8 to 1)." -GS Stankard

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Daily Chartbook@dailychartbook

"Conference Board's labor differential moved down to 3.1 in July ... in the history of this index, it has never gone negative without the economy going into (or already being in) a recession" @KevRGordon

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Joseph Wang@josephwang

30 year not liking Fed Chair with secret inflation target.

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Rand Group@randgroup

Anduril might be leading the way for a whole new way of understanding defense. Autonomous weapons are now getting serious funding.

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Barchart@Barchart

Mag 7 stocks are now trading near their cheapest valuation in history relative to the S&P 500 🚨 🚨

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💱  Forex & Commodities

Rio Tinto’s CEO focused on cost cuts, says mining giant is good bet in AI boom

Rio Tinto's CEO emphasized the company's commitment to reducing costs while highlighting potential opportunities in the artificial intelligence sector, positioning the mining giant as a promising investment amidst the AI boom.

Co · 3 minute read

Wheat futures climb for 2nd day as Black Sea exports falter

Wheat futures increased for the second consecutive day due to disrupted exports from the Black Sea region, impacting global supply concerns.

Com · 3 minute read

Hermès’ Chief Watches China’s Pork Prices to Gauge Luxury Demand

The CEO of Hermès is monitoring pork prices in China as a potential indicator of the country's luxury goods demand, reflecting the interconnectedness of consumer behavior and the economy.

Businessoffashion · 3 minute read

De Beers’ $18B diamond empire could sell for just $1B

Anglo American is nearing a deal to sell De Beers for approximately $1 billion to the Global Diamond Consortium, led by Gareth Penny. The sale comes as the diamond industry faces significant challenges, including decreased demand and competition from lab-grown diamonds, with the deal hinging on negotiations with Botswana, a significant De Beers stakeholder.

Mining · 2 minute read

Trump promises to hit Iran hard after missile attacks on US forces

Jordan's air defenses intercepted five missiles fired from Iran, described as a surprise attack on US forces, leading to Trump threatening military retaliation. Meanwhile, US-Saudi strikes in Iraq killed at least 20 members of Iran-backed militias, escalating regional tensions and affecting oil markets.

Aljazeera · 4 minute read

TonyIsHere4You@TonyIsHere4You

You'll know things are really getting interesting when they stop updating the SPR data.

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Kurt S. Altrichter, CRPS®@kurtsaltrichter

US refiners are running harder than any time since 2019. Still not enough. Commercial crude stockpiles just fell to a 2018 low, and drivers are staring down $4 gas. Full throttle, empty tank. Not the disinflation the Fed was hoping for. $USO

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🪙  Crypto News / Prediction Markets / AI

One SK Hynix Stock Trade Blew Up $60 Million in Crypto Bets

SK Hynix Inc.'s shares fell 30% in the pre-market session in Seoul, forcing the closure of nearly $60 million in long positions on a derivative tied to its shares on the crypto exchange Hyperliquid. The incident led to $17.4 million in losses for over 900 users due to a rogue price trade, prompting Trade.xyz to cover liquidation losses and plan improvements in pricing systems.

Yahoo Finance · 3 minute read

Russia Charges Telegram Founder Pavel Durov with Facilitating Terrorist Activity

Russia has charged Pavel Durov, the founder of Telegram, with facilitating terrorist activity, claiming Ukrainian spies used the messaging app to organize attacks inside Russia. Moscow has restricted Telegram access, while the FSB alleges that a chatbot on the platform was used by Ukrainian special services to recruit young Russians for sabotage and terrorist activities.

Net · 3 minute read

Morgan Stanley Says Tokenization is Ending Traditional Banking Hours

Morgan Stanley executives highlight the shift towards a 24/7 financial market facilitated by tokenization, moving beyond cryptocurrencies to transform traditional banking infrastructure. The firm has expanded its digital asset offerings, including launching spot ETFs for bitcoin, ether, and solana, and emphasizes the need for financial institutions to adopt blockchain-based infrastructure to remain competitive.

Cryptonews · 2 minute read

Binance offers gold and silver options after commodity futures pull in billions in daily volume

Binance has launched options on gold and silver, available through Nest Exchange Limited regulated by the ADGM, following the success of its perpetual futures contracts on these metals. While retail investors can buy options, selling is reserved for authorized market makers, and the platform plans to expand its options offerings to other assets.

Cointribune · 5 minute read

 

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