Andy Chen

Former US House Speaker Nancy Pelosi has filed a new financial disclosure. The filing shows that Pelosi significantly increased her position in Bloom Energy (BE) shares and options.

The US Treasury may use $950 billion from its Treasury General Account (TGA) to support US Treasury buybacks, easing US bond yields from their highs. However, Donald Trump's warning to raise tariffs on Canadian automobiles to 50% dampened market trading sentiment. The three major US stock indices ended mixed, as AI hardware stocks faced a sell-off and memory chip stocks led the declines. At the close, the Dow Jones Industrial Average rose 0.26% to 53,417.16; the Nasdaq Composite Index fell 0.76% to 25,980.19; and the S&P 500 Index slipped 0.28% to 7,652.86.

On August 24 Eastern Time, constituents of the Philadelphia Semiconductor Index fell across the board, with AI hardware stocks pulling back collectively. Memory, optical communications, and chip stocks led the decline.

Nvidia (NVDA) announced on Monday that SpaceX's (SPCX) artificial intelligence division, SpaceXAI, will deploy Nvidia Vera CPUs to develop and run next-generation agentic AI applications. The chips will be utilized across multiple projects, including the Grok chatbot, helping manage tasks among tool calling, code execution, data analysis, and model inference to reduce response times for AI agents.

On August 24, Eastern Time, Micron (MU) shares fell below the $900 mark again, dropping by as much as 7% intraday, but this does not indicate any change in the memory supply shortage landscape.

After Alibaba (BABA) announced a share placement, the market initially responded with a sell-off, but the stock price did not continue to slide. Meanwhile, several top investment banks maintain a positive outlook on the company.

Nvidia (NVDA) is set to report its second-quarter fiscal 2027 financial results after the market close on August 26, Eastern Time. Wall Street currently widely expects the company to maintain its pattern of "beating expectations and raising guidance." However, against the backdrop of elevated valuations and heightened expectations, a simple revenue beat may not be sufficient to drive the stock price higher.

Since hitting a record high of $793 in August 2025, Meta Platforms (META) shares have trended downward with volatility. As of August 18, Eastern Time, based on a stock price of around $550, the cumulative decline over the period reached approximately 30%.

Despite climbing U.S. Treasury yields, the U.S. August Composite PMI hit a four-year high, easing expectations of an economic slowdown and prompting a rebound in U.S. equities. All three major stock indices advanced, led by financial and gold stocks. At the close, the Dow Jones Industrial Average rose 0.98% to 53,277.01, the Nasdaq Composite Index gained 0.43% to 26,180.45, and the S&P 500 Index climbed 0.43% to 7,674.37.

Brent crude futures touched $93 per barrel, rising 1.41% on the day to hit a new high since July 24. Since August 5, Brent oil prices have gained over 20%. Currently, as renewed geopolitical tensions combine with accelerating global inventory drawdowns, market divergence over the trajectory of crude

Spot gold (XAUUSD) breached the $4,600 mark on August 21, Eastern Time, and is advancing toward $4,700, marking the first time gold has returned to this price level since May 15. The immediate catalyst driving the rally was the U.S. Department of the Treasury's unexpected expansion of its long-term Treasury buyback program. Although this does not constitute Federal Reserve quantitative easing nor will it reduce U.S. government debt, the policy signal reinforced market focus on fiscal pressures and long-end borrowing costs. As a result, gold has reaped a "dual-path benefit."

On August 21, US Eastern Time, Tesla (TSLA) rose over 4%, reclaiming the $360 mark. According to media reports, Tesla plans to open public test rides for Cybercab—its first autonomous taxi without a steering wheel or pedals—by the end of this month and officially integrate it into the Robotaxi network in Austin, Texas.

A renewed surge in US Treasury yields and rising oil prices weighed on market sentiment. All three major US stock indexes closed lower, but AI hardware stocks bucked the trend to move higher, with memory and optical communication stocks leading the gains. At the close, the Dow Jones Industrial Average fell 1.32% to 52,759.21; the Nasdaq Composite Index dropped 1.00% to 26,067.17; and the S&P 500 Index declined 0.87% to 7,641.16.

People familiar with the matter said that Anthropic PBC is accelerating its preparations for an initial public offering and could publicly file its IPO application as early as the end of this month. Media reports previously indicated that Anthropic would officially go public in October this year.

On August 20, Eastern Time, U.S. stocks suffered another setback. Despite U.S. Treasury Secretary Bessent stating readiness to further scale up bond buybacks—with single long-term bond buyback operations potentially exceeding $4 billion—U.S. Treasury yields continued to surge. The 30-year Treasury yield rose as much as 6 basis points to 5.26%, returning to levels seen before Treasury Secretary Bessent announced the expanded buyback plan on Wednesday. The 10-year Treasury yield climbed in tandem by a similar magnitude.

Walmart (WMT) reported second-quarter sales before the U.S. market open that exceeded Wall Street expectations and raised its full-year performance forecast. However, full-year earnings per share (EPS) guidance came in below expectations, sending its stock down by around 10%.

Micron (MU) shares pulled back slightly after breaking above $1,000 and are currently hovering around $950. Bank of America believes artificial intelligence may have broken the memory boom-and-bust cycle, projecting long-term and massive earnings growth for Micron Technology. According to BofA's scenario model, Micron's revenue could reach $377.3 billion in fiscal year 2030, far exceeding the market consensus of $280.5 billion. On the profitability front, BofA expects its EPS to reach $236.16, representing a compound annual growth rate (CAGR) of up to 34.1%. The market's current valuation of Micron remains relatively conservative, standing at only about 6 times projected FY2027 earnings.

On August 20, Eastern Time, Bitcoin (BTCUSD) extended its rally, briefly surging past $72,000 to touch its highest level since early June. Having long hovered near $60,000, Bitcoin staged a rapid surge in a short period, reflecting a clear recovery in market risk appetite.

The U.S. Department of the Treasury announced an increase in long-term bond buyback operations, sending bond yields lower and driving stock prices up. All three major stock indices gained, while AI hardware stocks extended their losses, led by declines in memory stocks. At the close, the Dow Jones Industrial Average rose 0.22% to 53,463.05; the Nasdaq Composite Index gained 0.16% to 26,331.09; and the S&P 500 Index rose 0.21% to 7,707.98.

In July 2026, Nvidia maintained its position as the world's most valuable company with a market capitalization of $4.86 trillion. Apple, Alphabet, and Microsoft followed closely behind, with all top five companies driven by AI-related businesses and cloud computing. However, capital did not continue to flow unilaterally into chip stocks in July: the PHLX Semiconductor Index (SOX) dropped 20.61% in a single month, putting upstream names such as TSMC, SK Hynix, and Micron under visible pressure. This demonstrates that the market is shifting from "AI investment expansion" to scrutinizing returns on capital expenditure and the sustainability of supply chain profitability.