Alan Long

TradingKey - As of the early Asian session on July 20, international oil prices opened significantly higher, with WTI crude (USOIL) rising 2.21% to a high of $84.60, and Brent crude (UKOIL) climbing 2.27% to a high of $91.42. The jump in oil prices was primarily driven by the continued escalation of the conflict between the United States and Iran, as the market renewed concerns over Middle East supply disruptions and shipping security in the Strait of Hormuz.

TradingKey - On July 17 (ET), the three major U.S. stock indices closed lower across the board, recording weekly losses. Sell-offs in the AI and semiconductor sectors continued to broaden, and market risk appetite cooled significantly as the U.S.-Iran conflict escalated further ahead of the weekend.

TradingKey - As of July 16 Eastern Time, Nvidia (NVDA) shares closed at $207.4, down 2.4% for the day. Although Nvidia’s stock price has undergone a correction since June, it stabilized and rebounded in July, posting a cumulative monthly gain of 3.65%. This indicates that the market continues to support Nvidia's long-term AI growth logic.

TradingKey - The S&P 500 index has recently experienced volatility at high levels. As of the U.S. market close on July 16, the S&P 500 index stood at 7,533.77 points, falling 0.51% on the day. Despite the short-term pullback, technical indicators suggest the medium-to-long-term bullish trend remains intact, and institutions continue to hold a positive outlook for the future of the S&P 500.

TradingKey - JPMorgan’s (JPM) Global Markets Strategy team warns in its latest report that the deleveraging process initiated by US investors in June remains ongoing. Leveraged equity ETFs, options markets, and margin accounts all have room for further risk exposure reduction, which could serve as a significant headwind for US and global equity markets in the coming months.

TradingKey - As of the Asian session on July 17, gold prices (XAUUSD) fluctuated around $4,000. However, it is noteworthy that yesterday’s closing price was $3,969.41, confirming a break below the $4,000 mark, which suggests that short-term market sentiment may lean toward the bearish side. Meanwhile, although the latest U.S. CPI and PPI data both indicated easing inflationary pressures, gold prices failed to sustain their rebound. Instead, prices came under pressure due to the recovery in U.S. Treasury yields, hawkish remarks from Federal Reserve officials, and the continued resilience of U.S. consumption.

TradingKey - As of July 16, Eastern Time, Netflix (NFLX) shares were last reported at $74.35, up 0.91% for the day, hitting an intraday high of $74.68. However, the stock price plunged 9.05% in after-hours trading following the release of the company's second-quarter earnings report.

TradingKey - On July 16, Eastern Time, the three major US stock indices closed lower collectively. Although US economic data remained robust and the start of the second-quarter earnings season was generally better than expected, a continued sell-off in semiconductor and AI hardware stocks weighed on

TradingKey - On July 16, Eastern Time, TSMC (TSM) released its second-quarter 2026 financial results. The company's revenue for the quarter reached TWD 1.27 trillion, up 36.0% year-on-year and 12.0% quarter-on-quarter. In US dollar terms, revenue was USD 40.2 billion, representing a 33.7% year-on-year increase and reaching the upper end of the previous guidance range of USD 39.0 billion to USD 40.2 billion.

TradingKey - As of July 15 Eastern Time, ASML US ADRs were priced at $1,815.27, rising 2.23% on the day and reaching an intraday high of $1,830. ASML's stock price strengthened significantly following the release of its earnings report, primarily because the company's second-quarter results exceeded market expectations and it raised its full-year revenue guidance once again.

TradingKey - On July 15 (ET), ASML, the world’s largest photolithography machine manufacturer, stated that as demand for advanced chipmaking equipment continues to grow, the company has room to further increase prices for some of its products. ASML CFO Roger Dassen noted that the current market environment provides a favorable opportunity for equipment price hikes. The company is currently discussing pricing with customers, though specific increase magnitudes and implementation timelines have not yet been announced.

TradingKey - On July 15 ET, the three major U.S. stock indices closed higher for the second consecutive trading session. An unexpected decline in the U.S. June PPI further reinforced expectations of cooling inflation, while the start of the corporate earnings season continued to exceed market expect

TradingKey - As of the Asian trading session on July 15, gold (XAUUSD) prices retraced to oscillate near $4,030, erasing nearly all the gains driven by yesterday’s favorable CPI data. From a technical perspective, gold was bolstered yesterday by the cooling U.S. June CPI, rebounding quickly to test the $4,100 level. However, bulls failed to sustain the momentum today, reflecting intense competition between long and short positions at current levels.

TradingKey - Intel (INTC) has reported positive progress in its foundry business. KeyBanc Capital Markets released a report stating that the yield for Intel's 18A advanced process node has increased from approximately 65% in the previous quarter to over 85%, signifying significant improvements in production stability and cost control capabilities.

TradingKey - During the Asian session on July 15, the South Korean stock market rebounded strongly, with the KOSPI index gaining more than 7% intraday. As KOSPI 200 index futures surged and met the trigger conditions, the Korea Exchange activated a buy-side "Sidecar" mechanism, suspending programmatic buy orders for five minutes. The mechanism is primarily designed to curb the transmission of extreme volatility from index futures to the spot market and differs from a full-market circuit breaker that halts all trading.

TradingKey - As of July 14, Eastern Time, IBM (IBM) shares were trading at $217.07, plunging 25.21% on the day and hitting an intraday low of $213.22. The rare sharp decline in IBM's stock price was directly triggered by the company's advance warning that second-quarter revenue would fall below market expectations, noting that customer capital expenditures are shifting from traditional software and services toward data center infrastructure.

TradingKey - On July 14, ET, the three major U.S. stock indices closed slightly higher. U.S. June CPI was lower than market expectations, easing investor concerns about short-term Federal Reserve rate hikes. Meanwhile, strong second-quarter earnings from major banks drove a recovery in market risk a

TradingKey - Intel (INTC) recently unveiled a space-grade System-on-Chip (SoC) code-named Starfire, marking the company’s official entry into the space computing market with its first self-developed dedicated chip. The product is primarily designed for satellites, spacecraft, and other equipment in extreme environments, focusing on meeting the demands of commercial aerospace, defense, and government customers for low power consumption, high reliability, and artificial intelligence computing capabilities.

TradingKey - As of the Asian session on July 14, gold (XAUUSD) prices fluctuated and consolidated around the $4,000 level, briefly dipping below $4,000 to a low of $3,983.23. From a market perspective, gold prices plummeted 2.87% yesterday due to the escalation of the Strait of Hormuz crisis, falling to $3,986.64 intraday. However, the closing price remained steady above $4,000 at $4,001.01, indicating that the $4,000 mark has become a key battleground for bulls and bears. Investors should focus on the U.S. June CPI data today.

TradingKey - On July 13 ET, U.S. President Trump stated that the United States will ensure the Strait of Hormuz remains open and may directly manage this critical global energy transit route. Trump declared that the U.S. will serve as the "guardian" of the strait, while announcing the reinstatement of a naval blockade against Iran and plans to levy a fee on vessels passing through the strait equivalent to 20% of the cargo value to offset the costs incurred by the U.S. in providing security.