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The biggest U.S. market catalyst was the Fed’s surprise policy shift under new Chair Kevin Warsh, which unsettled stocks, bonds, gold, and the dollar and signaled a new regime for investors.

Josh Brown highlighted a tech stock tied closely to the rapid expansion of data centers.
Oppenheimer said SpaceX still has upside potential after its AI coding agreement.
KBW recommended buying CME Group shares on weakness, arguing fears about perpetual futures are exaggerated.
Analysts said oil could move through the Strait faster than many people expect.
Jefferies believes a high-flying AI infrastructure stock, already up nearly 500%, can rise further.
KeyBanc said a chipmaker that is up more than 200% this year still has room to gain.
CME’s Terrence Duffy said the company plans to sue the CFTC over perpetual futures.
Market watchers pointed to Thursday’s stock stories as key drivers for the next trading session.
Commentators said Elon Musk is leading in a particular space-related area, while SpaceX trading activity has drawn major attention.
Other major headlines included warnings about Social Security cuts, reactions to the Fed’s latest move, Amazon’s $0.99 streaming promotion, and George Soros’s stock bets.

Hong Kong stocks fell 387 points as mainland property and insurance shares plunged, while Tencent bought back about 1.144 million shares for roughly HK$500 million.

European stock markets were mixed in early trading as investors watched the Bank of England policy meeting, while Dow futures rose nearly 300 points and UK shares fell close to 1%.
The Taiwan central bank left its policy interest rate unchanged, matching market expectations.
The Swiss National Bank also kept its benchmark rate at 0%, which pushed the Swiss franc down 0.4%.
Hong Kong property rents continued to weaken, with Centaline’s April city rental yield slipping to 3.24% after eight straight months of decline, ending the “cheaper to rent than buy” situation.
Hong Kong markets fell, with the Hang Seng Index dropping 387 points to close at 23,924; property and insurance stocks sold off, while Zhihu-style AI stock Zhispoke surged to a new high above 2,000 yuan.
Tencent spent about HK$500 million to repurchase 1.144 million shares, and Xiaomi said its HK$4 billion buyback program will start the next day.
Hong Kong Exchanges and Clearing, together with the HKMA and other institutions, announced multiple market infrastructure moves, including a pilot digital-payment solution for after-hours derivatives trading and the planned launch of five-year Treasury bond futures on August 3.
Several companies issued profit warnings or business updates, including Bauhaus International, Guofu Quantum, C-Mer Hong Kong, China Gas, and others, while some firms reported contracts, clinical progress, or earnings changes.
Mainland Chinese regulators unveiled major financial-market reforms at the 2026 Lujiazui Forum, including support for AI companies in the STAR Market, new tools for liquidity and cross-border finance, and broader backing for technology and other “hard tech” sectors.
Hong Kong’s competitiveness ranking in the 2026 World Competitiveness Yearbook rose to second globally, highlighting stronger overall international standing.

Tokyo stocks surged to a record high for the first time above 70,000, driven by strength in heavyweight tech shares and boosting broader JP market sentiment.

Japanese banks are rapidly raising deposit interest rates, triggering intense competition to attract deposits as a key source of funding, though regional banks are concerned about the strain on their profitability.
The Tokyo Stock Exchange closed above 70,000 for the first time, extending its winning streak to six days with a gain of 1,151 yen, supported by a declaration that the U.S.-Iran fighting has ended.
Mitsubishi UFJ Bank is promoting invoice purchasing services that let small and medium-sized businesses convert receivables into cash without waiting for payment, helping improve cash flow.
At midday, the Tokyo market was up 1,150.05 yen from the previous close at 71,052.30 yen, marking another strong advance.
By 11:00 a.m., the Nikkei had risen further to 71,060.27 yen, while the TOPIX also reached a new all-time high.
The yen was trading in the upper 160-yen range against the dollar around 10:00 a.m., returning to levels seen before intervention and raising concern over possible government action.
Tokyo stocks continued to surge, moving into the 71,000-yen range for the first time as technology shares drove the rally and the TOPIX hit a record high.
The yen started trading in the upper 160-yen range as expectations of further U.S. Federal Reserve rate hikes encouraged dollar buying and yen selling.
In New York, the yen weakened further against the dollar, briefly touching 160.79 yen, its weakest level in 1 year and 11 months.
Other major topics include Nidec’s shareholder meeting approving a management overhaul, Lotte halting an ice cream price hike, construction sites stepping up heatstroke prevention, AOKI promoting lighter summer pajamas, concerns over a northward Shinkansen extension, low ethylene plant utilization, York Holdings aiming for an IPO, and AI tools helping assess tree-fall risks in minutes.

Crypto markets stayed defensive and thin after the Fed, while Ethereum lost another key leader as co-executive director Hsiao-Wei Wang resigned, adding pressure to sentiment.

Hsiao-Wei Wang has resigned as co-executive director of the Ethereum Foundation, marking another leadership loss for the organization.
Analysts are discussing how to trade the bitcoin cycle, suggesting market participants are still focused on timing crypto moves around recurring patterns.
Algorand has introduced a plan to become quantum-resistant by 2028, signaling a long-term security upgrade strategy.
Stellar (XLM) led the CoinDesk 20 with a 10% gain even as the broader index declined, showing selective strength in the market.
Alchemy’s AI-powered identity and payment product now has access to the Visa network, expanding its potential reach and utility.
Hive shares rose 10% after the company announced a $220 million Canada sovereign AI infrastructure deal, boosting investor optimism.
Investors are rotating away from the Magnificent 7 and toward crypto plays tied to AI infrastructure bottlenecks, reflecting a changing risk preference.
The U.S. Dollar Index is nearing a major breakout, which could pressure bitcoin because a stronger dollar often weighs on crypto prices.
Aster surged more than 10% after a buyback-and-burn upgrade, but the rally faded quickly, highlighting how fragile momentum can be.
Market positioning in crypto remains defensive and thin after the Fed decision, according to Marex analysts, suggesting cautious trading conditions.

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