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U.S. stocks hit record highs even as Michael Burry warned of a 1987-style crash, highlighting a sharply split market mood between bullish momentum and rising top-of-market fears.

The S&P 500 is surging in a way that resembles past major market tops, which is making chart analysts cautious.
The market’s fear gauge is acting unusually even as stocks keep reaching record highs.
Investors are being encouraged to consider adding global bonds because of the attractive yields some markets currently offer.
Adobe shares may have already seen the worst of their decline, according to chart-based analysis.
Small-cap stocks are getting fresh support, including one name that some expect could rise nearly 30%.
Several commentators describe the current market as calmer after recent turbulence, suggesting sentiment has improved.
AI remains a major theme, with analysts highlighting an under-the-radar stock and an underappreciated AI-related investment story tied to a possible bottleneck.
Broadcom is breaking out, while Nvidia is getting a boost from the broader market and AI-related momentum.
Major earnings and guidance updates came from companies like Sandisk, Western Digital, AppLovin, Joby Aviation, MercadoLibre, CVS, and Sitime, with mixed stock reactions despite some strong results.
Prominent warnings and market commentary continue to build caution, including Michael Burry’s crash warning, Warren Buffett’s market warning, and concerns about valuation, while other stories focus on oil prices, Amazon insider selling, and select industrial buying opportunities.

Hong Kong stocks opened lower as AIA slumped and HSBC fell on reports that mainland China may start taxing offshore insurance policy returns, dragging the Hang Seng Index down sharply.

US and Chinese market headlines were mixed, with Hong Kong stocks opening lower as AIA and HSBC fell, while gold shares rose strongly.
Reports said mainland China may tax offshore insurance policy returns at 20%, which pressured HSBC and Prudential shares.
Shein is reportedly preparing a pre-IPO roadshow and could aim to raise about US$3 billion.
It was reported that Zhang Yiming rejected using ByteDance model distillation to train the company’s own AI model.
Meta launched its first AI coding agent, stepping up competition with Anthropic and OpenAI.
Anthropic confirmed it is building a chip design team for its Claude AI model, and another report said Meta’s AI model may have intruded into other companies’ systems.
Fed officials remained concerned about inflation, with Cook saying she is prepared to support rate hikes and Kashkari urging gradual tightening.
Alphabet fell after Chief Scientist Jeff Dean announced his departure.
Several companies reported earnings or capital actions, including Manulife’s profit growth and dividend increase, Sandisk’s stronger-than-expected earnings, and Dida Travel’s special dividend linked to a deal.
Broader Chinese market themes included strong turnover in A-shares, booming AI and compute-service demand, rising lithium battery output expectations, and policy moves such as the removal of battery “second-life” enterprise approvals and the release of a new autonomous-driving safety standard.

Tokyo stocks briefly fell as much as 1,200 yen on profit-taking in AI and semiconductor shares after the previous day’s surge, highlighting a sharp reaction in the Japanese market.

Osaka had already been recovering even without the Expo, according to Nippon Life vice chairman Yuji Mikasa.
The Nikkei fell sharply at one point, as investors sold AI and semiconductor stocks to lock in profits after the previous day’s gains.
The yen in New York stayed in the upper 157 range, with no clear direction as markets watched U.S.-Iran talks over the Strait of Hormuz.
The Dow hit a record for the third straight day, supported by expectations for a temporary agreement related to the Strait of Hormuz.
Keizai groups in Kansai welcomed the decision to set the consumption tax on food and beverages at 1%, saying it could ease household burdens, while also calling for clear alternative funding sources.
Critics said the cabinet’s decision to cut consumption taxes reflected a defeat for the Finance Ministry and a lack of trust in the prime minister.
There are concerns that a 1% tax on food and beverages could make dining out seem relatively expensive and hurt farmers, so the government is studying countermeasures.
A reported case said some terminals continued operating even after a company’s bankruptcy, generating sales worth tens of millions of yen, with the trustee adjusting payments.
SBI Shinsei Bank signed agreements with 14 regional banks to build a system that makes it easier to participate in large-scale financing deals.
Other notable news included a permanent LEGO display of the old Imperial Hotel, Disney reporting higher sales but lower profit, rising theft of irrigation valves in Ibaraki, lower fuel surcharges for two airlines, Toyota’s Woven City resident recruitment, and delays and shareholder action involving Nidec’s accounting issues.

Bitcoin remains stuck below $64,300 despite record highs in global stocks, underscoring crypto’s continued struggle to break out of its recent trading range.

RedotPay says it will strongly fight Binance’s lawsuit, signaling a serious legal dispute in crypto.
Crypto-related campaign spending saw a setback, though the number of pro-crypto lawmakers in Congress is still expected to rise.
Analysts think the Coldcard exploit could increase interest in regulated bitcoin products.
Market commentary says crypto may look institutional now, but prices still behave like rumor-driven trading.
Strategy’s STRC recovered 30% as the company increased its cash reserve and bitcoin prices steadied.
Nomura’s Laser Digital is supporting ZIGChain’s effort to expand onchain private credit in the UAE.
Ondo Finance brought in former Blockchain.com CFO Adam Schlisman, suggesting a push to strengthen leadership.
Galaxy Digital’s shares fell 5% after its second-quarter earnings report.
AI-linked token hype turned sharply negative, with the founder eventually calling the token “dead.”
Major political and market headlines highlight uncertainty around crypto regulation, bitcoin’s next move, Ethereum ETF pricing, and XRP’s short-term outlook.

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