Alan Long

TradingKey - Data released by the U.S. Department of Commerce on Thursday showed that the U.S. Personal Consumption Expenditures (PCE) Price Index rose 3.7% year-on-year in June, down from 4.1% in May. On a month-on-month basis, the index declined 0.1%, marking the first monthly drop since April 2020 and indicating that a retreat in energy prices has driven a significant cooling in overall inflation.

TradingKey - On Thursday, July 30 (ET), the three major US stock index futures rose collectively in pre-market trading. Microsoft's strong earnings report alleviated market concerns regarding returns on AI capital expenditure, leading the gains in Nasdaq 100 futures. However, individual stocks such as Meta (META) and Qualcomm (QCOM) weakened following their earnings releases, while long-term US Treasury yields remained elevated and the situation in the Middle East continued to keep the market cautious.

TradingKey - As of July 29 Eastern Time, Meta (META) released its second-quarter earnings for fiscal year 2026. While revenue grew 28% year-over-year to $60.8 billion, exceeding market expectations, Meta shares tumbled 7% in after-hours trading due to earnings missing expectations, a significant decline in free cash flow, and the continued increase in AI capital expenditure.

TradingKey - As of the Asian session on July 30, gold prices (XAUUSD) surged and then retreated following the Federal Reserve meeting, dipping to as low as $4,028.62 during the session. From a technical perspective, gold prices briefly climbed to $4,116.28 after the Fed announced its interest rate decision but failed to hold the $4,100 level. As the market reassessed internal divisions within the Fed regarding rate hikes and U.S. Treasury yields rebounded, short-term bullish momentum for gold has significantly weakened.

TradingKey - A recent research report from J.P. Morgan indicates that the large-scale deleveraging in the South Korean market, triggered by leveraged ETFs, is nearing its end. As passive selling pressure gradually subsides, the South Korean stock market is poised for a phased recovery, with the technology and semiconductor sectors likely to be the primary beneficiaries of the rebound.

U.S. stock index futures were mixed in pre-market trading on Wednesday ET. Market focus is centered on the Federal Reserve's July interest rate decision and after-hours earnings from Microsoft and Meta. Meanwhile, escalating tensions in the Middle East have pushed oil prices higher, and a slight uptick in Treasury yields has kept risk appetite cautious.

TradingKey - As of July 29 ET, Micron Technology (MU) shares have seen a cumulative correction of over 30% from the all-time high reached in late June. Although the company previously announced record-breaking fiscal 2026 third-quarter results and fourth-quarter guidance, the market opted for profit-taking rather than continuing to chase the rally. With AI memory demand remaining robust, why does Micron's stock price continue to pull back? Can it still rise in the future?

TradingKey - On July 29, it was reported that Meta (META) CEO Mark Zuckerberg stated that the U.S. maintains a leading position in artificial intelligence and should not rely on restricting or banning Chinese AI models. Instead, it should consolidate its competitive advantage through continuous innovation and the enhancement of its own technological capabilities. These remarks have once again drawn market attention to the global AI competition landscape and U.S.-China tech competition.

TradingKey - As of July 27, Eastern Time, SpaceX (SPCX) shares were priced at $113.50, down 1.4%, after hitting an intraday low of $108.66, marking a new low since its listing. Compared to the all-time high of $225.64 reached on June 16, SPCX has seen a cumulative drawdown of nearly 50% and is down

TradingKey - On Tuesday Eastern Time, the three major US stock index futures were mixed in pre-market trading. The market is awaiting the Federal Reserve's July interest rate meeting and earnings reports from tech giants, while concerns over AI infrastructure financing models and intensifying competition from Chinese semiconductor companies have led to a continued sell-off in chip stocks, significantly weighing on Nasdaq index futures.

TradingKey - Microsoft (MSFT) will release its fourth-quarter results for fiscal year 2026 after the market close on July 29, Eastern Time. As of July 27, ET, Microsoft's latest stock price stood at $389.1, rising 1.94% on the day; however, the stock has seen a cumulative decline of 19.54% year-to-date. The pressure on the share price is attributed to factors including the company's high AI capital expenditures, intensifying competition in the software industry, and a slower-than-expected pace of AI commercialization.

TradingKey - On July 28 ET, U.S. semiconductor stocks continued to face pressure in pre-market trading. Micron Technology (MU) fell over 5%, while AMD (AMD) and Intel (INTC) both declined by more than 4%, signaling that capital continues to withdraw from memory chip and AI concept stocks that saw significant recent gains.

TradingKey - On July 28, Arm (ARM) announced the signing of a strategic cooperation Memorandum of Understanding (MoU) with Unity China. The two companies plan to combine Arm's strengths in mobile computing and graphics technology with Unity China's capabilities in real-time 3D engines and local developer services to jointly enhance the development and operating experience of games and interactive content on the Arm platform.

TradingKey - The Federal Reserve will hold its monetary policy meeting on July 28-29 Eastern Time and announce its interest rate decision at 14:00 on July 29, with Chairman Kevin Warsh holding a press conference thirty minutes later. The current target range for the federal funds rate is 3.50% to 3.75%. As this meeting will not include the release of new economic projections or the interest rate dot plot, market attention will be focused on the policy statement, the voting results, and Warsh’s comments on inflation and the policy path for September.

On Monday Eastern Time, the three major U.S. stock index futures rose collectively in pre-market trading. The pause in mutual attacks between the United States and Iran over the weekend drove a significant drop in international oil prices, easing market concerns over energy inflation and further pol

TradingKey - On July 27, international crude oil prices fell sharply, ending a previous strong rally driven by Middle East supply risks. As of the European session, Brent crude (UKOIL) fell over 13% to trade near $85.23 per barrel, while WTI crude (USOIL) declined more than 8% to around $83.08.

TradingKey - As of the Asian trading session on July 27, gold prices (XAUUSD) opened with a strong gap up today and maintained an upward trend throughout the day, briefly breaking above $4,100 and reaching a high of $4,116. From a market perspective, gold prices rebounded after being suppressed last week by surging oil prices and Federal Reserve rate hike expectations. The recovery is primarily attributed to signs of a pause in the conflict between the U.S. and Iran, which led to a significant pullback in international oil prices and eased market concerns regarding energy prices driving up U.S. inflation.

TradingKey — On July 27, Changxin Technology (SSE: 688825), a leading Chinese memory chip manufacturer, officially debuted on the Shanghai Stock Exchange STAR Market, met with strong investor demand on its first day of trading. With an issue price of 8.66 yuan, the stock opened at 49.50 yuan, up 471

TradingKey - In the coming week, global financial markets will face the most intensive window for central bank decisions and economic data in July. The Federal Reserve, the Bank of England, and the Bank of Japan are scheduled to announce their respective interest rate decisions. Following international oil prices breaking above $100 and pushing up inflation expectations, market concerns regarding further policy tightening by major central banks have significantly intensified.

TradingKey - As of July 23 Eastern Time, Tesla (TSLA) shares closed at $319.69, falling 14.56% from the previous trading day. Although the company's Q2 earnings report showed significant improvements in revenue and delivery data, the stock price failed to gain sustained momentum. The primary reasons include earnings falling short of expectations, pressure on automotive gross margins, negative free cash flow, and rising capital expenditures related to AI, Robotaxi, and Optimus.