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U.S. stocks were mixed as investors rotated out of some AI and tech names while earnings season took center stage, with Apple briefly hitting a record $5 trillion valuation and several chip and AI-related stocks under pressure.

Intuitive Surgical’s rise may reflect more than short covering, and options are being discussed as a way to trade the move.
BofA argues ASML is not in danger from China-related risks, suggesting investors may be overreacting.
Higher energy costs and heavy AI spending are making the Federal Reserve’s job more difficult.
Wells Fargo has turned cautious on an apparel stock and is moving to the sidelines.
Loop Capital says CrowdStrike could become a key cybersecurity winner in the age of AI agents.
SpaceX’s market value has dropped sharply, losing about the equivalent of a full Tesla’s worth of capitalization.
Inflation-protected bonds are seeing rising yields, and investors are being shown ways to use them.
Crypto-related stocks are gaining as investors rotate out of AI infrastructure names, while bitcoin miners are lagging.
AI is spreading into the wider economy, according to a technology-focused investment strategist.
Market sentiment is becoming less forgiving of unlimited AI spending, with UBS noting growing concern over capex levels.

Hong Kong stocks ended slightly higher as the Hang Seng Index rose 103 points to 25,310, supported by gains in banks despite a sharp 23% plunge in Laopu Gold.

China’s foreign exchange fund earned HK$134.7 billion in the first half of the year, down 37.1% year on year.
U.S. stock futures edged higher, while Johnson & Johnson rose premarket after resolving a lawsuit; European shares were slightly firmer early on, with Barclays falling as much as 7% after results and Unilever gaining more than 6%.
Reports said PetroChina is considering selling part of its stake in LNG Canada.
Hong Kong stocks closed higher, with the Hang Seng Index up 103 points, while Laopu Gold plunged more than 23%; bank shares advanced and turnover was active.
Laopu Gold’s latest earnings disappointed badly, prompting major brokerages such as Macquarie and Jefferies to cut forecasts and target prices.
A powerful 7.1-magnitude earthquake struck Kumamoto, Japan, triggering tsunami warnings and briefly pressuring TSMC shares before the company checked factory conditions.
China’s A-share market fell sharply, with major indices dropping 1.2% to 7.4%; semiconductor, optical module and PCB stocks sold off, while light-related and bank stocks held up better.
BYD battery supplier CATL reported second-quarter shipments above expectations, and brokerage views remained constructive on the stock.
Electric vehicle and battery-related materials remain active, with phosphate iron lithium producers raising prices as raw-material costs rise and downstream demand improves.
The market is seeing major policy and corporate developments, including a crackdown on insider trading, stronger AI and data-center investment, a large East Money report on A-share themes, and a planned RMB 25.12 billion acquisition of Shanghai Securities by Orient Securities.

Tokyo stocks plunged sharply, with the Nikkei falling 2,884 yen to 62,046 at the morning close as semiconductor shares kept selling off on weaker U.S. markets.

The Tokyo Stock Exchange fell sharply in the morning, closing down 2,884 yen at 62,046 yen, after briefly dropping more than 3,000 yen and extending declines in semiconductor stocks.
Japanese shares pulled back from their record highs, with the Nikkei falling by 10,000 yen from its peak as weak U.S. stocks and selling in chip-related shares pushed it below 63,000 yen.
Japan’s minimum wage revision meeting began for the sixth time, with discussion centered on raising the current 1,121 yen level into the high 1,100-yen range.
Former President Trump criticized the Federal Reserve as “political,” amid concerns about interest-rate policy and claims that the U.S. has some of the world’s lowest rates.
The yen traded in the mid-163-yen range, showing slight yen weakness versus the dollar in Tokyo, while in New York it strengthened modestly on concerns over U.S.-Iran tensions.
U.S. stocks rose again in New York, with the Dow gaining 262 points as the halt in U.S.-Iran attacks eased inflation worries and encouraged buying.
The government is considering making food consumption tax effectively zero, but issues remain over funding, treatment of restaurants and farmers, and other practical challenges.
At Aeon Mall Kumamoto, an explosion may have been caused by LP gas, according to comments from a senior government official.
After the Kumamoto earthquake, several companies suspended operations or services, including Mercian’s Yatsushiro factory, Suntory’s Kumamoto plant tours, and temporary closures at convenience stores and fast-food outlets.
TSMC confirmed the safety of its Kumamoto factory employees and the building, while Honda suspended operations at its motorcycle plant and local Lawson stores closed temporarily; Japan’s minimum wage was also raised to a record national average of 1,176 yen.

Bitcoin fell alongside a South Korean market rout as the U.S. Senate shelved the crypto CLARITY Act, deepening pressure on the broader crypto market.

Ethereum startup EthSystems says privacy will be crucial for convincing banks to use public blockchains.
Russia is preparing new digital depository rules before it rolls out a broader crypto framework this fall.
Hyperliquid is pushing crypto perpetuals deeper into DeFi, expanding the “money LEGO” idea.
Zcash has locked in a $1.7 billion shielded pool after the Ironwood upgrade went live.
Morgan Stanley has launched ether and solana exchange-traded products after the success of its bitcoin fund.
Core Scientific has secured an AMD AI deal as it gradually shifts away from bitcoin mining.
A new report says Binance may be making it harder to fight crypto crime.
Apple reportedly left a fake bitcoin wallet on the App Store even after a theft claim of $875,000, according to a lawsuit.
Bitcoin’s recent calm has not been enough to trigger a wider rally in altcoins.
Bitcoin fell as South Korean stocks dropped and the U.S. Senate delayed the crypto Clarity Act.

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