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U.S. stocks were mixed as chip shares slumped sharply ahead of major tech earnings, with investors growing more cautious on heavy AI spending and valuations.

U.S. stock futures are edging higher as investors await the Fed’s decision, keeping the market focused on policy signals.
Tech and AI enthusiasm is still driving parts of the market, but experts warn the trade may be becoming crowded and more selective.
Chip stocks are under pressure and heading for one of their worst monthly stretches, raising questions about whether the weakness is temporary or more serious.
Several chip-related companies issued important updates, including forecasts from Micron, KLA, and Seagate, along with a broader lift in wafer equipment expectations.
Microsoft short interest has climbed to a decade high before earnings, showing growing bearish bets despite the company’s strong market position.
Meta may avoid discussing social media policy issues on its earnings call, according to prediction-market traders.
Big banks and strategists are recommending quality stocks and dividend payers as better choices for a choppy and uncertain market.
Economic and geopolitical headlines are adding volatility, including rising oil prices after Iran-related tensions and trade friction involving North America.
Company-specific moves are also driving trading, with stocks like Ford, Corning, Bloom Energy, Sandisk, Visa, and Stag Industrial reacting to earnings, guidance, or dividend news.
More broadly, investors are debating whether AI spending by mega-cap companies remains justified, as market tolerance for unlimited capex appears to be fading.

Hong Kong stocks jumped sharply as the Hang Seng Index rose 497 points, led by strong gains in tech names like Xiaomi and Tencent and with several blue chips hitting record highs on heavy turnover.

Standard Chartered beat second-quarter expectations, prompting major banks like Morgan Stanley, Goldman Sachs, and UBS to issue positive or mixed views, with Goldman raising its target price.
Mainland China’s first domestically produced OLED TDDI chip has entered mass production, marking another step forward in local semiconductor development.
Fosun International issued a profit alert, expecting first-half net profit to rise by as much as 172% year on year.
US Treasury yields edged higher as Wall Street waited for the Federal Reserve’s interest-rate decision, while investors remained alert to policy surprises.
South Korea’s stock market fell sharply, and SK Hynix’s share price pulled back from highs after a steep rally; the finance minister apologized over a leveraged ETF issue.
Hong Kong stocks surged, with the Hang Seng Index rising 497 points and major names such as Xiaomi, Tencent, HSBC, and big state-owned banks hitting new highs on strong turnover.
China’s A-share market closed higher overall, led by gains in some semiconductor-related names such as Changxin Technology, though SMIC declined.
AI demand continued to drive strong performance across related industries, including MLCCs, optical modules, data-center equipment, and power infrastructure for computing centers.
China’s tax data showed steady economic recovery, with first-half tax revenue above 10 trillion yuan, strong growth in high-tech and digital sectors, and broad policy support for small businesses and manufacturing.
Several corporate and policy developments stood out, including regulatory penalties for Hainan Huatie, large buyback plans by Zhongji Innolight, an equity stake increase plan by BOE’s controlling shareholder, and more foreign firms joining the China market through the CIIE.

Japan stocks fell sharply, with the Nikkei briefly hitting a two-month low as sustained selling of semiconductor shares and concerns over the Kumamoto earthquake weighed on investor sentiment.

Japanese stocks fell sharply again, briefly hitting a two-month low, as semiconductor shares kept selling off and concerns over the Kumamoto earthquake weighed on investor sentiment.
The Nikkei also opened lower, with the drop widening to more than 3,000 points at one stage and the index slipping below 63,000 for the first time in recent trading.
In foreign exchange, the yen weakened into the 163-yen range, with dollar buying strong due to position adjustment and caution ahead of policy meetings by the Fed and the Bank of Japan.
U.S. stocks continued rising, with the Dow gaining 537 points as investors bought shares of companies reporting strong earnings.
Donald Trump criticized the Federal Reserve as “political,” amid renewed attention on U.S. interest-rate policy and concerns about possible rate hikes.
Docomo Group plans to launch a trial version of its financial AI service by this autumn, aiming to advise on investments and attract younger users.
Japan’s minimum wage review entered its sixth meeting, with discussion centered on raising the current 1,121 yen level into the latter half of the 1,100-yen range.
Suntory said production at its Kumamoto plant in Kyushu has been suspended, causing shipment halts and delays, and that it will shift to substitute production in Tokyo, Kyoto, and other locations.
After the explosion accident, Aeon’s president apologized and said he takes the fatal incident seriously, while questions remain about whether a deceased specialist-store employee returned to the building after evacuating.
Authorities and companies responded to the Kumamoto quake and related issues with emergency support, safety checks, supply measures, and investigations, including aid for heatstroke prevention, inspections at TSMC’s Kumamoto site, loan and premium-payment relief for disaster victims, and scrutiny of a vehicle inspection fraud case and a personal data leak.

Bitcoin climbed toward $64,000 ahead of the Fed decision, with traders eyeing any dovish signal as a potential boost for crypto markets.

Ionic Digital surged 26% in its Nasdaq debut, offering Celsius claimholders a potential way to exit.
Russian authorities charged Telegram founder Pavel Durov with helping terrorism.
SpaceX has become a key competitive arena that Solana needs to succeed in.
Bitcoin moved above $64,000 in Asian trading ahead of the Federal Reserve’s decision.
A firm linked to an AI-driven trade that triggered $60 million in crypto liquidations says it will reimburse all losses.
Citadel is wagering on a Fed rate hike, while Bitcoin analysts expect a hold, meaning one side is likely to be wrong.
Bitcoin climbed toward $64,000 even as South Korea suffered a record chip-sector slump with crypto markets staying resilient.
Coinbase aims to become Canada’s all-in-one exchange, but says the country needs clearer regulations first.
An analyst said any signal from the Fed that is even slightly dovish could support Bitcoin prices.
Ondo abandoned plans for a tokenized-asset blockchain and instead chose a private, high-speed trading network.

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