Andy Chen

TradingKey - On July 7, EST, SpaceX (SPCX) fell to as low as $150.55 during early trading, nearing a break below its first-day listing price again. As of press time, it was down over 5% at $150.85. Notably, SpaceX will be officially included in the Nasdaq 100 Index, becoming the first-ever constituent stock in the index's history with spaceflight as its core business. Despite expectations of passive buying driven by the index inclusion, SpaceX is currently facing lawsuits regarding its core business.

TradingKey - On July 7, Eastern Time, geopolitical tensions escalated once again, with two consecutive military conflicts triggering a rebound in oil prices. Following Iran's firing of at least two missiles at several commercial vessels in the Strait of Hormuz, Ukraine launched a drone attack on Russia's largest oil refinery. These successive military conflicts have shattered the recently eased geopolitical environment. Impacted by the two conflicts, both major crude oil futures rose across the board. As of press time, WTI crude oil futures were up 2.49% at $70.26, while Brent crude oil futures gained 2.7% to trade at $74.

TradingKey - Market expectations that Samsung Electronics will soon announce a positive profit alert in its preliminary Q2 earnings, coupled with SK Hynix officially launching its roadshow for a US listing, fueled strong market sentiment. The three major US stock indexes rose across the board, with the Dow Jones Industrial Average continuing to hit record highs and the Nasdaq Composite Index strengthening, led by gains in chip and memory stocks. At the close, the Dow Jones Industrial Average rose 0.29% to 53,055.91 points; the Nasdaq Composite Index rose 1.12% to 26,121.16 points; and the S&P 500 Index rose 0.72% to 7,537.43 points.

TradingKey - Meta (META) recently proposed launching a cloud infrastructure service named "Meta Compute," planning to sell its excess AI computing power to external customers and considering allowing developers to access AI models hosted on Meta's infrastructure. Influenced by this, Meta closed up 8.81% on the day at $612.91. Meanwhile, major cloud providers such as Amazon (AMZN), Alphabet (GOOGL), and Microsoft (MSFT) all posted weekly gains of over 4%. Just two months prior, market concerns over high valuations had dragged down the share prices of these tech giants. Morgan Stanley stated that as investors take profits on tech stocks that led the gains earlier this year, it will be difficult for the US stock market to reach new highs.

TradingKey - On July 6, Eastern Time, the three major US stock indexes diverged as AI hardware stocks rebounded. JPMorgan Chase stated that a trio of positive catalysts is supporting demand for AI infrastructure. The Nasdaq Composite Index recovered its losses from the previous two sessions, the Philadelphia Semiconductor Index rose over 3%, and the Dow turned lower after hitting a new high. As of press time, the Dow Jones Industrial Average fell 0.05% to 52,874.57 points; the Nasdaq Composite Index rose 1.35% to 26,182.40 points; and the S&P 500 Index rose 0.71% to 7,536.62 points.

TradingKey - On July 6, Eastern Time, Dell (DELL) briefly rose to $429.74, returning to an upward trend. As of press time, it was up over 8%. It is reported that Dell computers were recommended to the public, with explicit recognition given to Dell's CEO for his investment support of the heavily promoted "Trump Account" project. Funded with initial seed capital and matching tax incentives provided by the U.S. Department of the Treasury, this children's investment account project is a key livelihood policy introduced by the current administration.

TradingKey - Microsoft (MSFT) has officially implemented a new round of workforce optimization, laying off 4,800 employees across the company with immediate effect on the same day, representing 2.1% of its total workforce, with the gaming business serving as the core area of contraction. The Xbox division is the hardest-hit area of this adjustment, with cumulative layoffs projected to reach 20% by fiscal year 2027, to be rolled out gradually in phases. In addition to the layoffs, Microsoft has simultaneously initiated a review of its gaming assets, with four studios spinning off from its ecosystem: Compulsion Games and Double Fine, acquired in earlier years, will return to independent operations; Ninja Theory and Undead Labs will change ownership; and France-based Arkane Studios is also moving forward with an evaluation of strategic options.

Tradingkey - Following the release of the U.S. June non-farm payrolls data, gold prices (XAUUSD) strengthened once again, rising to as high as $2,195.48 and nearing the $2,200 threshold, putting the metal on track for its first weekly gain in nearly a month. Gold prices have trended generally weaker overall since the beginning of this year. Persistent inflation concerns, a sustained strong U.S. dollar, and a hawkish shift by major global central banks in the wake of the U.S.-Iran conflict have combined to significantly dampen market demand for gold as a traditional safe-haven asset.

TradingKey - On June 25, Apple officially announced its largest price hike in recent years, implementing global price increases for MacBooks, iPads, and certain smart home devices, with hikes ranging from 17% to 54%. Among them, the MacBook Air 512GB rose from $1,099 to $1,299; the iPad Air increased from $599 to $749; and the Apple TV price leaped from $129 to $199, a surge of up to 54%. Apple stated in its announcement that "the rapid expansion of AI data centers has caused an extraordinary surge in demand for memory and storage," and that the company has "never seen the price of a component rise so much, so fast." Following the announcement, Apple's stock price fell more than 6% on the day, as the market widely believed that raising product prices would impact sales volume.

Tradingkey - On July 3, U.S. stock markets were closed for the Independence Day holiday, but Nasdaq 100 Index futures rebounded strongly after dropping 1.7% yesterday. As of press time, Nasdaq 100 Index futures rose 1.18% to 29,904.25 points, while S&P 500 Index futures edged up 0.40% to 7,558 points. Although rate hike expectations have repeatedly weighed on tech stocks since June, the consensus market view remains that the current upward momentum of U.S. equities is well-supported for continued growth, driven by the resonance of three key factors: the ongoing expansion of AI capital expenditures, the marginal recovery of macro liquidity expectations, and the gradual broadening of the earnings growth narrative.

Tradingkey - On July 3, Eastern Time, the U.S. stock market is closed today in observance of the Independence Day holiday. Trading for precious metals, energy, foreign exchange, U.S. Treasury, and equity index futures contracts under the Chicago Mercantile Exchange (CME) ended early at 13:00 Eastern Time. Trading for Brent crude oil futures contracts under the Intercontinental Exchange (ICE) ended early at 13:30 Eastern Time. Currently, the two major crude oil futures are trading flat, with prices hovering around $68. The overall market has entered a phase of cooling down. The core driver of the market adjustment stems from the narrowing of risk premiums led by the rapid easing of geopolitical tensions in the Middle East, as well as the recovery of supply-side expectations driven by the gradual restoration of global energy transit channels. The market is still awaiting the next catalyst.

TradingKey - On July 2, Eastern Time, US stock markets will be closed tomorrow for Independence Day. Today's weaker-than-expected non-farm payrolls dampened bets on Federal Reserve rate hikes, but Meta's plan to sell computing power still weighed on trading sentiment, resulting in a continued divergence among the three major US stock indices. The Dow Jones Industrial Average hit another record high, while memory and optical communication stocks led the declines. At the close, the Dow rose 1.14% to 52,900.07 points; the Nasdaq Composite fell 0.80% to 25,832.67 points; and the S&P 500 erased its losses late in the session to close at 7,483.24 points.

TradingKey - As of June 2026, the trillion-dollar club in the US stock market underwent a major shakeup during the month, with the number of global companies boasting a market capitalization of over $1 trillion growing to 16. Among them, the technology sector occupies a prominent position, reflecting strong investor confidence in both the scaling capabilities and long-term growth potential of the AI industry.

TradingKey - On July 2, Eastern Time, Apple (AAPL) shares reclaimed the $300 mark. As of press time, the stock rose 4.59% to trade at $307.88. It is reported that Apple is in negotiations with two Chinese memory chip manufacturers, ChangXin Memory Technologies (CXMT) and Yangtze Memory Technologies Corp (YMTC), to source memory chips for some of its products sold in the Chinese market. The move aims to alleviate cost pressures driven by the tight global supply of memory chips.

TradingKey - On July 2, Eastern Time, the three major US stock indexes showed mixed performance. Affected by Meta's transition into a computing power leasing provider, AI hardware stocks continued their decline today. While the Dow Jones Industrial Average hit another record high, the Nasdaq 100 Index fell 1.46%, and the Philadelphia Semiconductor Index dropped by about 5%. As of press time, the Dow Jones Industrial Average rose 0.73% to 52,685.45 points; the Nasdaq Composite Index fell 0.89% to 25,808.97 points; and the S&P 500 Index fell 0.21% to 7,467.39 points.

TradingKey - On July 2, Eastern Time, following two consecutive labor market reports that unexpectedly cooled, another Fed official stated that the current restrictive monetary policy stance will bring inflation down gradually. US non-farm payrolls for June, released today, grew by 57,000, significantly below the market expectation of 113,000, while the figures for April and May were downwardly revised by a combined 74,000. The ADP report released yesterday showed that private sector employment increased by 98,000 in June, also missing the market expectation of 118,000, marking the smallest increase since March. The two weaker-than-expected employment reports have intensified market concerns over a cooling labor market.

TradingKey - Meta's transition into a computing power leasing provider has triggered market concerns over weakening AI demand, leading to a sell-off in memory and chip stocks. The three major U.S. stock indexes fell across the board, although the Dow Jones Industrial Average hit a new intraday historic high of 52,742.66 points. At the close, the Dow fell 0.03% to 52,305.24 points; the Nasdaq Composite Index fell 0.66% to 26,040.03 points; and the S&P 500 Index fell 0.22% to 7,483.23 points.

TradingKey - On July 1, Eastern Time, AI hardware stocks came under pressure, with memory and optical communication stocks plummeting across the board. SanDisk (SNDK) fell 10.82%, Micron Technology (MU) dropped 9.7%, Corning (GLW) fell over 13%, Marvell Technology (MRVL) slid over 7%, and Lumentum (LITE) declined more than 6%. Reportedly, Meta plans to enter the cloud computing market, transitioning from a pure buyer of computing power to a computing power leasing provider. According to media reports, Meta is officially planning its AI cloud infrastructure business, transforming from a pure purchaser of computing power into a market participant with supply capabilities. It is simultaneously developing two business lines—model services and bare-metal computing power leasing—to directly compete with the three traditional cloud giants, AWS, Azure, and Google Cloud, while posing a disruptive threat to vertical AI computing power providers such as CoreWeave.

TradingKey - On July 1, Eastern Time, Tesla (TSLA) rose for the fourth consecutive day, gaining over 14% and pushing its share price back above $430. As of press time, the stock was up 1.71% at $427.79. Amid an overall slowdown in the global electric vehicle market, the market expects Tesla's second-quarter global deliveries to be approximately 396,500 vehicles, representing a year-on-year increase of about 3%.

TradingKey - On July 1, Eastern Time, gold (XAUUSD) surged past $4,100 at one point, reclaiming a near one-week high. As of press time, it was up 2.27% to trade at $4,098 per ounce. Newly appointed Fed Chairman Warsh stated on Wednesday that both inflation expectations and inflation risks have declined in recent weeks.