U.S. stocks traded mixed as weak jobs data, Burry’s crash warning, and a split earnings picture kept investors cautious while AI-linked names like Nvidia and SpaceX-related growth stories drew support.

• SpaceX’s first earnings report beat expectations, but the stock still fell, showing that strong results did not convince investors.
• Nvidia gained momentum as chip-related optimism continued to support AI and semiconductor names.
• Broadcom is breaking out, and traders are watching how investors like Tony Zhang are positioning around the move.
• AMD remains a stock Wall Street expects to outperform, even after a post-earnings pullback.
• Analysts are treating AMD’s upcoming earnings as an important test for both chip stocks and broader momentum trades.
• Michael Burry warned that markets may be near a major top and compared the risk to a possible 1987-style crash.
• Wall Street’s strong confidence in Walmart may have already priced in most of the upside, according to Oppenheimer.
• Jeff Bezos filed to sell $4 billion worth of Amazon shares, and the stock slipped afterward.
• Market commentary suggested conditions have been solid, with Paul Hickey describing the market as doing pretty well and Larry Kudlow saying the U.S. economy is booming.
• Investors looking to diversify away from AI are being pointed toward healthcare, while major themes include soft jobs data, oil price moves, Alphabet AI leadership changes, and growing interest in autonomous driving investments from Uber.

Hong Kong stocks rose 62 points to 25,915 as gold miners and PCB shares rallied, while HSBC remained weak after its results and buyback update.

• China is stepping up measures to expand domestic demand through stronger consumption, investment, and fiscal-financial coordination.
• Unitree Technology is approaching its IPO, with a broad lineup of major investors and high paper gains for early backers.
• Mainland A-shares rebounded sharply, led by technology sectors such as optical chips, semiconductors, and communications.
• China’s central bank will conduct a 500 billion yuan three-month reverse repo operation, adding 200 billion yuan net liquidity.
• Authorities are accelerating support for the economy, including faster bond issuance, policy-financial tools, and domestic-demand boosting measures.
• New energy storage is expected to benefit from policy support and growing market demand, improving long-term order visibility.
• Regulators are tightening control over stock-market misinformation, with penalties issued for AI-generated false rumors.
• China has released a mandatory national standard for L3 and L4 autonomous driving safety, set to take effect on July 1, 2027.
• Multiple overseas and Hong Kong-related companies reported significant business developments, including share buybacks, JV plans, earnings updates, and property transactions.
• Several industries are seeing structural growth themes, including artificial intelligence, robotics, low-altitude economy, energy, copper, and personalized cosmetics services.

Japan’s government has approved a historic two-year cut in consumption tax on food and beverages to 1%, a move aimed at easing household burdens but expected to affect restaurants, farmers, and fiscal policy debates.

• The government approved a temporary 1% consumption tax on food and beverages, marking Japan’s first tax cut since the tax was introduced in 1989.
• Business groups in Kansai welcomed the measure as a way to ease household burdens, but also asked the government to clearly identify replacement revenue sources.
• Some analysts warned that restaurants could look relatively expensive under the new tax setup, and farmers may also face negative effects, so countermeasures are being considered.
• Finance Ministry influence appeared to weaken as the cabinet officially decided on the tax cut despite opposition, while distrust toward the prime minister remains strong.
• Japan’s stock market continued rising, closing 2,342 yen higher, helped by hopes that unrest in the Middle East will settle and by strength in AI-related shares.
• The Bank of Japan’s June policy meeting minutes showed growing support for continuing interest rate hikes.
• Chief Cabinet Secretary Minoru Kihara declined to comment on remarks by U.S. Treasury Secretary Bessent, amid expectations of a BOJ rate increase.
• Two Japanese airlines plan to lower international fuel surcharges for tickets issued in September and October, reflecting reduced costs after a U.S.-Iran memorandum.
• SBI Shinsei Bank signed agreements with 14 regional banks to create a system that makes it easier to take part in large-scale financing deals.
• Several corporate stories showed ongoing pressure in industry, including Nidec delaying its earnings release over accounting and quality issues, JR West reporting lower profit, and shareholders pushing for accountability in the Nidec scandal.

Bitcoin lagged global risk assets, repeatedly failing to break above $64,300 as the market watched for its next major move.

• Analysts say a Coldcard-related exploit may increase interest in regulated ways to gain bitcoin exposure.
• Market commentary suggests bitcoin position sizing remains an active topic for investors trying to manage risk.
• Strategy’s STRC shares rebounded after the company strengthened its cash reserve and bitcoin prices steadied.
• Nomura’s Laser Digital supported ZIGChain as it expands into onchain private credit in the UAE.
• Even though crypto has become more institutional, it still often reacts like a rumor-driven market.
• Ondo Finance brought in former Blockchain.com CFO Adam Schlisman, signaling continued executive hiring in crypto finance.
• Galaxy Digital stock fell after its second-quarter results disappointed investors.
• An AI agent token that once reached a $2.4 billion valuation collapsed, with its founder later calling it dead.
• SpaceX extended its decline as investors worried about lockup expiration and capital spending pressures.
• Yellow Card raised $40 million to connect banks with stablecoin payment processing and strengthen its infrastructure.

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