News
Important Only
Apple's top AI executive Ruoming Pang leaves for Meta, Bloomberg News reports
July 7 (Reuters) - Apple's AAPL.O top executive in charge of artificial intelligence models, Ruoming Pang, is leaving the company for Meta Platforms META.O, Bloomberg News reported on Monday, citing people with knowledge of the matter.Pang, manager in charge of the company's Apple foundation...
Reuters
Tue, Jul 8
Oil rises as strong demand offsets big OPEC+ output hike
OPEC+ to raise output by 548,000 bpd in AugustGoldman expects a final 550,000 bpd OPEC+ hike for SeptemberUS higher tariffs to take effect on August 1By Arathy Somasekhar HOUSTON, July 7 (Reuters) - Oil rose 1% on Monday as signs of strong demand outweighed the impact of OPEC+ hiking output more ...Reuters
Mon, Jul 7
US STOCKS SNAPSHOT-Wall St opens lower on tariff jitters; Tesla down on Musk's political plans
July 7 (Reuters) - Wall Street's main indexes opened lower on Monday as tariff tensions kept investors on edge, while Tesla shares slid after CEO Elon Musk announced his plans to launch a political party.The Dow Jones Industrial Average .DJI fell 25.2 points, or 0.06%, at the open to 44,803.36. ...Reuters
Mon, Jul 7
New Lineup of U.S. Tech "Magnificent Seven": Apple and Tesla Removed, Broadcom and Oracle Added
TradingKey - Amid Apple’s delayed progress in upgrading artificial intelligence (AI) features and Tesla’s struggles with electric vehicle price wars and an unclear autonomous driving outlook, Wall Street has long been considering removing the two companies from the elite group of “Magnificent Seven”
China’s PBOC Buys Gold for Eight Consecutive Months, but Gold Prices Remain "Easier to Defend than to Advance"
TradingKey - Since July, gold prices have weakened due to easing geopolitical tensions and a cooling trade dispute. Although the People's Bank of China (PBoC) has been continuously increasing its gold reserves for eight months, providing some support to prices, momentum for a significant rally
TradingKey
Mon, Jul 7
BofA Chief Warns: "Big and Beautiful" Bill Could Trigger $50 Trillion Debt Bubble!
TradingKey - Recently, Michael Hartnett, Bank of America's Chief Investment Strategist, dubbed "Wall Street's Most Accurate Analyst," issued a report warning that U.S. federal government debt could surpass $50 trillion within seven years, based on projections of the "Big and Beautiful" bill's...TradingKey
Mon, Jul 7
US to make several trade announcements in next 48 hours, Treasury secretary says
WASHINGTON, July 7 (Reuters) - The United States will make several trade announcements in the next 48 hours, Treasury Secretary Scott Bessent said on Monday."We've had a lot of people change their tune in terms of negotiations. So my mailbox was full last night with a lot of new offers, a lo...Reuters
Mon, Jul 7
Three Scenarios for How U.S. Markets View “Uncertainty” as Trump’s Reciprocal Tariff Deadline Nears
TradingKey - With just two days remaining before the July 9 deadline set by U.S. President Donald Trump to end reciprocal tariff suspensions, uncertainty remains over the tariff levels, effective dates, and whether the deadline will be extended. Yet so far, U.S. markets have not shown signs of panicTradingKey
Mon, Jul 7
OPEC Accelerates Output Unexpectedly, Oil Price Support to Rely on Only “Two Factors” in Second Half of 2025
TradingKey - OPEC+ surprised the market by announcing its fourth consecutive round of crude oil production increases at its early July meeting — the scale of the increase far exceeded expectations and triggered a new supply shock, deepening concerns over oversupply in 2025 and weighing on oil prices
TradingKey
Mon, Jul 7
Samsung Profit Warning: Q2 Earnings May Plunge 39% Under Tech Lag & US Sanctions Vice
TradingKey - Samsung Electronics is expected to see its operating profit decrease by 39% year-over-year in Q2 2025, falling to 6.3 trillion won (approximately $ 5.6 billion), marking the lowest level in six quarters and the fourth consecutive quarter of decline.TradingKey
Mon, Jul 7
Food Delivery Subsidy War Ignites Hong Kong Tea Stock Rally; Meituan, Alibaba Shares Under Pressure
TradingKey - On July 7th, the Hong Kong stock market showed significant divergence, with shares of the three major instant retail platforms — Meituan (03690.HK), Alibaba (09988.HK), and JD.com (09618.HK) — collectively declining, while the Hong Kong beverage sector saw a strong surge driven by...TradingKey
Mon, Jul 7
Trump May Ramp Up Short-Term U.S. Treasury Issuance Amidst $3.4 Trillion Deficit from Tax Bill
TradingKey - To tackle the impending deficit surge due to the tax cut bill, the Trump administration might resort to issuing a significant amount of short-term U.S. Treasury bills. Anticipation of this move has already led to a noticeable increase in short-term yields.TradingKey
Mon, Jul 7
Tokenized Funds, Not Stablecoins, May Be the True Engine Driving Crypto Growth in 2025
TradingKey - So far in 2025, stablecoins and asset tokenization have emerged as the two biggest trends in the crypto space. Compared to the steady 25% increase in stablecoin market capitalization this year, tokenized money market funds and U.S. Treasury-backed products have surged by an impressive
Chartist Slams Misleading Dogecoin Analysis: ‘Focus On This Instead’
Technical analyst Kevin, better known on X as @Kev_Capital_TA, rekindled debate over Dogecoin’s market structure on Sunday when he urged traders to ignore the “non-stop TA on DOGE for engagement purposes” and to concentrate on the two signals that have guided the meme-coin’s price for more than twoNewsBTC
Mon, Jul 7
China says it opposes tariffs being used as a tool of coercion
BEIJING, July 7 (Reuters) - China opposes tariffs being used as a tool to coerce others, the Chinese foreign ministry said on Monday, after U.S. President Donald Trump threatened an extra 10% tariffs on countries aligning themselves with the BRICS group of developing nations.Reuters
Mon, Jul 7
Thailand submits new trade proposal offering zero tariffs on many US goods
BANGKOK, July 7 (Reuters) - Thailand has submitted a new trade proposal to the United States, offering to cut levies to zero on many U.S. imports in a bid to avoid steep tariff hikes on its own products, the finance minister said on Monday.Reuters
Mon, Jul 7
