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U.S. stocks climbed ahead of key earnings and labor data, with semiconductor shares surging after Microsoft’s upbeat outlook revived the AI trade.

SpaceX short interest is rising ahead of earnings and the lockup expiration, while traders are also watching the company’s first-ever results and key metrics like Starlink growth and capital spending.
Markets are not pricing in a near-term nuclear deal between the United States and Iran, and oil prices dropped after the U.S. paused strikes and OPEC+ approved more output.
The Magnificent 7 ETF slipped to a record low valuation, even as broader tech and AI-related stocks showed mixed performance.
Semiconductor shares jumped after Microsoft’s strong outlook renewed enthusiasm for the AI trade, helping offset weakness in other parts of the market.
Amazon climbed to a record high and surpassed a $3 trillion market value, highlighting continued strength in mega-cap technology stocks.
Google remains in focus as investors debate whether the stock still has more upside, especially with heavy AI spending now a major theme.
Cathie Wood increased positions in SpaceX, CoreWeave, and Tesla while reducing Shopify, signaling continued conviction in select growth names.
Several analysts turned positive on income and defensive names, including dividend stocks, Circle, and a beaten-down optical sensor company.
Healthcare and pharma names are in the spotlight, with earnings previews for Pfizer and Merck, and uncertainty surrounding a potential AstraZeneca and Bristol-Myers deal.
Broader macro and policy stories include inflation expectations, Federal Reserve signaling, a new Texas stock exchange launch, and concerns over wealth transfer from boomers to heirs.

Hong Kong stocks rose as Alibaba surged over 7%, helping the Hang Seng Index reclaim 26,000 points amid stronger market sentiment and active turnover.

China Cinda expects its interim net profit to fall 60% to 70% year on year.
Ride-hailing firm Ruqi Mobility expects its interim loss to narrow to no more than RMB 75 million.
Amazon’s AWS business posted strong second-quarter growth, prompting multiple Wall Street firms to raise their price targets and keep positive ratings.
Several brokerages also adjusted ratings and targets for Apple, Meta, Qualcomm, Yum China, and Bank of Communications Aircraft Leasing, reflecting mixed outlooks across U.S. tech and other sectors.
Tencent showcased AI-powered games at ChinaJoy, highlighting deeper integration of AI agents into its gaming products.
Alibaba reportedly reorganized two internal secret teams and its former “Wukong” unit into a new Qianwen office business division.
The Hang Seng Index rose 124 points to reclaim the 26,000 level, with Alibaba up more than 7% and other blue chips and tech stocks advancing strongly.
UBS raised its forecast for Hong Kong’s full-year GDP growth to 4.5%, reflecting improved macro expectations.
Mainland regulators and the central bank emphasized supportive monetary policy, better liquidity management, and stronger tools to stabilize growth and capital markets.
China’s capital markets, ETF inflows, drug procurement, smart robotics, housing fund reforms, and infrastructure/industrial trends all pointed to active policy support and sector rotation in the broader economy.

Japan and the U.S. carried out a rare coordinated currency intervention, with officials signaling they would not hesitate to act further, as the yen’s sharp moves rattled markets and Tokyo stocks fell.

Japan and the U.S. carried out coordinated foreign-exchange intervention, which some officials described as the “finished form” of a Japan-U.S. currency alliance.
The intervention happened at an unusual time and was intended to send a strong market signal against yen selling.
Reports say Japan may have spent roughly 5–6 trillion yen on its own side, with the two-day total possibly reaching 11–12 trillion yen.
U.S. Treasury Secretary Bessent said the U.S. would not hesitate to take further action, helping to restrain market speculation.
Japanese authorities also indicated they would not hesitate to intervene again if needed.
Japanese stocks fell sharply at one point, with the Nikkei dropping more than 1,500 points as profit-taking and a stronger yen weighed on sentiment.
The Liberal Democratic Party reportedly approved a plan to lower the consumption tax rate on food and beverages to 1%, with final details entrusted to the tax committee chair.
Government leaders were expected to decide on the tax proposal as early as the 5th.
Flat 35 mortgage rates hit 3.29% for August, marking a record high.
Across regional and business news, companies and local groups reported disaster support, product promotions, community events, environmental measures, and infrastructure or production updates.

Bitcoin and ether fell as a Coldcard hardware wallet exploit dragged down crypto sentiment, while broader market risks grew with fears that the U.S. Clarity Act could stall.

Trump-linked American Bitcoin president Matt Prusak is leaving to join Giga Energy.
U.S.-Japan intervention has revived concerns that the yen carry trade could pressure bitcoin.
Circle shares fell after Morgan Stanley downgraded the stock and lowered its price target.
Bernstein warned crypto markets could drop further if the Clarity Act fails to advance.
BlackRock is expanding its tokenized cash products with new blockchain-based money market offerings.
Tom Lee’s Bitmine bought more ether and also added to its stock buyback program last week.
Strategy sold another $105 million in bitcoin last week and used $81.2 million to repurchase STRC.
Bitget plans to leave Japan and close all remaining positions by year-end.
A solo Bitcoin miner earned $200,000, while a Coldcard hardware wallet drain hurt sentiment.
Bitcoin and ether both declined as the Coldcard exploit stretched into its fifth day.

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