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US markets were largely cautious as major tech earnings, especially Alphabet and Tesla, and warnings from Jamie Dimon about elevated stock and Treasury valuations weighed on sentiment despite pockets of strength in sectors like utilities, transportation, and M&A-related names.

Rick Rieder argues that income investors are entering a new market regime and says he is adjusting where he puts capital now.
John Paulson believes gold is still in the early phase of a long-term bull market, suggesting more upside ahead.
Market watchers are focused on the next trading session, with several stock stories expected to influence sentiment.
Biotech is still viewed as attractive even after its strong rebound, according to investors who remain constructive on the sector.
Wells Fargo says some utility stocks may become the next winners in the AI trade as demand for power and infrastructure grows.
Alphabet’s upcoming earnings report is drawing attention, with chart signals being examined ahead of the release.
Goldman Sachs says the M&A boom likely has more room to run and has identified additional possible takeover targets.
There is interest in using options on Toyota to help limit downside risk while still allowing for potential gains.
Portfolio managers warn that if companies slow AI spending, the market may interpret it as an important negative signal.
Major headlines also include Tesla-related reactions, Alphabet’s antitrust fine, strong corporate earnings, and concerns in stocks, bonds, and the Treasury market.

Hong Kong stocks ended higher as the Hang Seng Index rose 318 points, led by gains in Meituan, Sands China and HSBC, with HSBC hitting another record high.

Sinopec reported that its oil and gas equivalent output rose 0.3% year on year in the first half of the year.
HSBC Holdings will hold a board meeting on August 4 to review interim results and decide whether to pay a second dividend for 2026.
Analysts said Link REIT may continue returning capital through asset sales and buybacks, which could help support its valuation.
UBS said Link REIT’s sale of a Sydney property appears aimed at funding buybacks, and it kept a “Buy” rating.
UBS raised Lenovo’s target price to HK$26, saying strong infrastructure business growth helped offset slower device performance.
UBS said Cathay Pacific’s first-half guidance was much better than expected and reiterated a “Buy” rating.
Chow Tai Fook reported same-store retail value growth of 15.1% last quarter.
The Hong Kong Observatory said a tropical cyclone east of the Philippines may enter the city’s 800-kilometre alert zone later tomorrow, with the possibility of issuing Signal No. 1.
Hong Kong’s Hang Seng Index closed up 318 points, led by gains in Meituan, Sands China, and HSBC, which hit another record high.
Chinese market and policy headlines pointed to stronger A-share sentiment, with fiscal support, stable-market measures, foreign investor optimism, and ongoing state-sector reform as key themes.

Tokyo stocks rebounded 307 points, led by AI and semiconductor shares on strong U.S. markets, while the yen briefly weakened to around 163.42 per dollar, heightening intervention concerns.

The yen fell to 163.42 per dollar at one point, its weakest level in 39 years and 8 months, as investors rushed into the dollar during a period of risk aversion.
Tokyo stocks rebounded by 307 points, lifted by AI and semiconductor shares, with strong U.S. equities also supporting the market.
Finance Minister Satsuki Katayama signaled that the government is ready to act decisively if necessary, again suggesting possible currency intervention as the dollar stayed above 163 yen.
The Japanese government is expected to judge in July that the economy is expanding for a record-long period, though high prices mean many people do not feel the recovery strongly.
South Korea’s GDP rose 0.6% in the April-to-June quarter, driven by semiconductor and machinery exports that offset the effects of higher oil prices.
New York stocks slipped by 6 points as investors stayed cautious ahead of corporate earnings, with uncertainty over the Middle East also weighing on sentiment.
Market participants are watching whether the next key intervention line for the yen is around 165 yen, as currency weakness has continued despite policy revisions.
The Trump administration remains committed to tariffs, while massive U.S.-bound investment raises concerns about how the funding will be secured; this comes one year after the Japan-U.S. agreement.
In the 162-yen range, market observers said any effect from currency intervention would likely be temporary, suggesting intervention alone may not reverse the trend.
Japanese companies are increasingly focusing on recycling rare metals to strengthen supply chains and reduce dependence on China, while firms such as Panasonic, JR West, USJ, and others pursue new growth areas amid geopolitical and economic pressure.

Bitcoin remained the key market focus as it paused after its July rally while the broader crypto sector faced fresh pressure from multiple protocol hacks and exchange turmoil.

Abu Dhabi’s Mubadala Capital has joined the tokenization trend, while Coinbase has taken a stake in an onchain fund.
Polymarket is preparing to fight France’s nationwide block on its website.
Bitcoin is facing an unprecedented challenge in its 17-year history as bulls test the market.
After a strong July rally, bitcoin is pausing and trading in a holding pattern.
Bitcoin slipped again as widening conflict with Iran pushed oil prices above $90 per barrel.
BitMEX, the exchange known for inventing perpetual futures, is shutting down.
BNY is planning 24/7 financial rails to remove the weekend delay in U.S. Treasury settlement.
South Korea’s oldest crypto exchange has become part of Mirae Group, a financial giant valued at $1 trillion.
Several attacks on Bitcoin- and Ethereum-related protocols led to losses of $35 million within hours.
AFX Trade, an Arbitrum-based platform, lost $24 million after its bridge keys were compromised.

Tesla is still holding its bitcoin despite being down $112 million on the position.
Dogecoin is showing strong buy signals, but the price has not yet reacted.
Ethereum-related protocols suffered another hack, this time for $7.5 million.
XRP moved above resistance, though ETF flow data suggests bullish momentum may be weakening.
The CLARITY Act is facing an ethics dispute involving Gillibrand, with progressive groups increasing political pressure.
Ethereum could reach $2,000 as AI investment flows rotate away from chips and toward ETH, according to Tom Lee.
Trump supported a crypto ethics rule and assigned the DOJ as the enforcement body.
Ethereum builder activity and leverage indicators are aligning in a way that may point toward a move to $2,000.

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