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US stocks rallied in a choppy session as strong Microsoft and Amazon results revived the AI trade, lifting semiconductor shares and pushing the Nasdaq to a rare bullish technical signal.

Cheapest S&P 500 stocks may offer the most upside heading into August, while traders also reassess how to trade Amazon and Apple after mixed earnings reactions.
Big Tech has become more divided, with this earnings season disrupting assumptions about the “Magnificent Seven” and leaving investors less certain about the group’s leadership.
Microsoft’s strong outlook helped semiconductor stocks surge, reinforcing confidence in the AI trade and boosting sentiment across related tech names.
Analysts remain split on Alphabet and Apple, as Google may still have room to rise while Apple faces multiple headwinds after a guidance miss.
Amazon is drawing renewed optimism because AWS outperformance is strengthening Wall Street’s belief in the company’s AI strategy and future growth.
Several stocks showed important technical setups, including McDonald’s, Berkshire Hathaway, the Nasdaq, and the broader market as more shares trade above key levels.
August may start weak for equities, since historical patterns point to early-month softness for SPY and traders are being warned about a possible seasonal dip.
Options and short positioning remain in focus, with Michael Burry adding Nvidia puts and Micron shorts while investors monitor broader risk signals.
Energy and industrial names produced notable news, including Chevron’s strong quarterly profit, Exxon’s comments on crude versus pump prices, and Linde’s upbeat full-year guidance.
Outside the mega-cap and energy names, market activity stayed active with Apple ETF exposure concerns, Palantir earnings anticipation, Rivian’s post-earnings reversal, and New York’s lawsuit against Kalshi over prediction markets.

HK stocks closed little changed as Hang Seng rose 25 points, with HSBC hitting a record high while Xiaomi fell over 7%, reflecting a mixed market tone.

Xinyi Solar reported first-half net profit of RMB 39.016 million, down 94.8%, and cut its interim dividend to HK 0.23 cents.
Xinyi Energy posted first-half net profit of RMB 320 million, down 28.9%, while paying an interim dividend of HK 2.1 cents.
Macau hotel occupancy rose to 90.4% in the first half, and its preliminary GDP grew 3.7% year on year in real terms in the first half, with Q2 up 0.3%.
Taiwan preliminary Q2 GDP was estimated to have jumped 12.92% year on year, beating expectations.
HK property market showed signs of stabilization, with June new residential mortgage lending up 25.8% month on month and negative-equity cases falling to 4,356, down 61.9% quarter on quarter.
Hong Kong fiscal position improved, with the government recording a HK$12.8 billion surplus in the first three months of the fiscal year, helped by a HK$75 billion transfer from the Exchange Fund.
Mainland authorities stepped up regulation of “ghost food delivery” and promoted electronic certificates in online food safety governance, while also issuing measures to strengthen financial institution governance and shareholder oversight.
Market watchers said China’s Politburo meeting signaled stronger counter-cyclical policy support, including more proactive fiscal policy, moderately loose monetary policy, measures to stabilize property and stock markets, and possible new stimulus.
Global and mainland growth themes remained active, with UBS lifting Yum China’s target price after better-than-expected Q2 sales, CICC raising New Oriental’s target price after strong results, and Jefferies staying bullish on Amazon AWS and Arm.
Broader market sentiment was mixed: Hong Kong stocks held steady with the Hang Seng up 25 points, but Xiaomi fell sharply; in mainland markets, technology stocks and semiconductors weakened while defensive and traditional sectors, ETF inflows, MLCC shares, and high-dividend stocks attracted attention.

Bank of Japan held rates at 1.0% while signaling a hawkish shift, with Governor Ueda saying it may accelerate the pace of rate hikes as inflation upside risks grow.

English translation: The sources cover Bank of Japan policy concerns and a possible faster pace of rate hikes, a sudden yen intervention during a BOJ meeting, the BOJ’s decision to keep rates at 1.0%, a sharp rise in the Tokyo Stock Exchange driven by strong semiconductor results and steady AI demand, and rising August prices for over 2,000 items.
English translation: They also mention a shift in online sentiment around videos related to Prime Minister Takaichi, an appointment at the Ministry of Land, Infrastructure, Transport and Tourism, and the BOJ’s decision to hold policy steady while watching the effects of the Kumamoto earthquake.
English translation: Separate reports cover LINE Yahoo receiving a stern warning for unauthorized transmission of user data, Air Water falling into a 63.9 billion yen loss after delayed disclosure of an improper accounting investigation, and company aid being delivered to disaster zones in Kumamoto.
English translation: Energy companies are increasing gasoline supplies to disaster areas at four times normal levels, while road damage is slowing the reopening of gas stations.
English translation: Other business and market items include Tokyo stocks surging again, the Myaku-Myaku mascot’s official store opening in Taiwan, progress toward expanding tuna catch quotas, a smartphone game company filing for bankruptcy, and Kioxia posting a 46-fold jump in net profit.
Summary: The Bank of Japan is debating tighter policy and may accelerate rate hikes as inflation risks remain high.
Summary: The BOJ kept its policy rate at around 1.0% while monitoring the impact of the Kumamoto earthquake.
Summary: The yen saw a surprise intervention during a BOJ meeting, causing a rapid five-yen move in about 50 minutes.
Summary: Japanese stocks rose sharply, with gains led by semiconductor shares and confidence in strong AI-related demand.
Summary: Prices are rising broadly in August, with more than 2,000 food and beverage items set to increase.
Summary: LINE Yahoo was warned for improperly sending user information from apps such as LINE Pokopoko.
Summary: Air Water reported a major loss after problems in accounting delayed its disclosure and prompted criticism from management.
Summary: Companies and fuel suppliers are stepping up aid to Kumamoto disaster areas, focusing on heat relief and gasoline delivery.
Summary: Kioxia benefited from strong memory-chip demand, higher shipment volumes, and rising prices.
Summary: Other notable developments include a new ministry appointment, overseas expansion of a World Expo official store, progress on tuna quota talks, and a bankruptcy filing in the game industry.

Crypto markets are entering a fragile phase as traders brace for an August pullback, with protection against a Bitcoin drop to $60,000 now the top trade.

IBM’s CEO says quantum computing is approaching a commercial breakthrough.
Crypto leaders point to three major hurdles before the next bull market can begin.
Circle has obtained a New York trust charter, showing faster progress in crypto regulation.
Coinbase’s weak quarterly results have left investors divided on when recovery will start.
Real-world asset perpetuals are expected to grow faster than tokenization products.
A Dubai-based crypto exchange was linked to a $4 billion Iran sanctions-evasion network.
Prediction markets surged to $20 billion in volume as World Cup betting set new records.
The U.S. sanctioned an Iran-linked bitcoin insurance scheme used for Strait of Hormuz shipping.
Traders are preparing for an August crypto pullback, with bearish bitcoin protection near $60,000 becoming a popular trade.
Bitcoin and ether declined while equities rose, putting the wider crypto market on track for its best month in a year.

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