Reuters

• European stocks have paused near record highs as investors shift focus toward Middle East tensions and upcoming economic data. • LSEG estimates indicate that second-quarter STOXX 600 earnings are expected to rise by nearly 21%, a significant increase from the 12.5% forecast in early May. • Individual stock movements were mixed, with Plus500 rising 2.1% on strong half-year core profits, while Vistry plummeted 12.2% following reports that Allianz is cutting supplier credit cover by up to 70%.

• Manipal Health Enterprises' $960.4 million IPO was oversubscribed, driven largely by institutional investors, while Glenmark Pharma reported a 53.6% increase in quarterly profits. • An FDA advisory panel voted on Thursday to support trial results for Replimune's skin cancer drug, RP1, following two previous FDA rejections. • The FDA had previously denied approval in April due to a lack of a control group and insufficient evidence of the drug's effectiveness.

• Manipal Health Enterprises' IPO saw strong oversubscription driven by institutional investors, while Glenmark Pharmaceuticals reported a 53.6% increase in quarterly profit. • An FDA advisory panel voted on Thursday to support trial results for Replimune's skin cancer drug, RP1, following a previous rejection in April due to a lack of a control group. • Merck and Wellcome have partnered with a global health group to develop an Ebola vaccine intended for upcoming clinical trials.

• The Euro zone economy showed resilience in July, with a revival in the services sector driving overall activity as indicated by the final Purchasing Managers' Index (PMI). • Readings above the 50.0 threshold signaled growth, though Chris Williamson of S&P Global Market Intelligence noted that the business climate remains heavily influenced by geopolitical shifts. • Despite the current growth, the economic outlook is clouded by instability and the ongoing conflict in the Middle East, specifically involving Iran.

• Asia multi-strategy hedge funds experienced significant monthly drawdowns, coinciding with a 22% slump in Korea’s Kospi Index and an 8% decline in Japan’s Nikkei 225. • Specific losses were reported by major firms, including a 9% retreat for Hong Kong-based Pinpoint Asset Management and a 6.5% drop for Singapore’s $9 billion Dymon Asia fund. • Singapore-based Arrowpoint Investment Partners saw a milder loss of 2.6%, while Dymon Asia's year-to-date gain from January to July narrowed to 7.5%.

• Asian stock markets surged on Wednesday, led by Japan’s Nikkei, which climbed 3.0%, and South Korea, which added 4.1%. • The rally was driven by strong corporate earnings and a renewed appetite for technology stocks following record highs on Wall Street. • Oil prices and bond yields declined amid hopes for progress regarding the reopening of the Strait of Hormuz.

• Global stocks reached record highs following upbeat annual revenue growth forecasts from key companies, including Palantir Technologies and Caterpillar. • Caterpillar's growth is being driven by the expansion of AI data centers, signaling strength in the global industrial economy. • Market analysts, such as Oliver Pursche of Wealthspire Advisors, attribute the surge to stronger corporate earnings and improved future expectations.

• Bank of America has issued a bullish forecast for a specific memory stock, suggesting the asset's value could potentially double. • Market volatility is being driven by uncertain diplomatic talks between the U.S. and Iran, alongside anticipation for upcoming earnings reports from Palantir and Snap. • These developments are critical for investors as they signal potential high-growth opportunities in the semiconductor sector and geopolitical risks affecting global trade.

• Asian markets showed mixed results on Tuesday, August 4, as investors balanced the potential for AI-related growth from strong U.S. corporate earnings against broader volatility. • Regional performance varied, with the Nikkei 225 rising 0.2% and S&P 500 e-mini futures up 0.3%, while MSCI’s Asia-Pacific index (excluding Japan) dipped 0.1%. • Oil prices rebounded following reports of attacks on shipping vessels in the Strait of Hormuz, adding geopolitical tension to the market landscape.

• Wall Street markets surged at the start of August, bolstered by Donald Trump's positive comments regarding negotiations with Iran. • A record-breaking heatwave in Europe has triggered devastating wildfires in Spain, France, Italy, and Greece, while low water levels in the Danube forced Hungary to power down its only nuclear plant. • These climate disasters are driving up economic costs through increased healthcare spending, insurance claims, reconstruction bills, and rising food prices.

• US stock markets are currently unstable as investors prepare for a critical week featuring a new jobs report and major corporate earnings. • Market participants are closely monitoring employment data, as significantly higher job growth could signal an overheated economy and prompt the Federal Reserve to raise interest rates. • LSEG data from Friday shows that Fed funds futures currently indicate a 64% probability of a rate hike at the next meeting in September.

• The US stock market is currently struggling to regain its footing as investors await a critical upcoming jobs report and a week of major corporate earnings. • Despite recent volatility, the S&P 500 remains up over 9% in 2026, supported by strong overall corporate profit growth. • Market analysts, including PNC Financial Services Group's Yung-Yu Ma, note that gains are broadening into lagging sectors, which may suggest greater durability for the current four-year bull market.

• An FDA advisory panel voted on Thursday to support trial results for Replimune's drug, RP1, which targets a specific type of skin cancer. • The FDA had previously declined to approve RP1 twice, most recently in April, due to a lack of a control group and insufficient evidence of effectiveness. • This panel's endorsement provides critical momentum for the drug's approval process after the agency demanded more comprehensive data.

• Europe’s STOXX 600 index reached a new record high, driven primarily by strong performance in the technology sector. • Credit Agricole contributed to the upward momentum, with its shares rising 4.5% following the release of better-than-expected second-quarter earnings. • This surge reflects broader investor confidence in tech growth and the positive financial health of major European banking institutions.

• Film producers are calling on the British culture minister to block the proposed Paramount-Warner merger to prevent restricted access to historical news archives essential for documentaries. • Bruce Springsteen and Irish Prime Minister Micheal Martin have paid tribute to the passing of a "great musician" and friend who significantly impacted Ireland's cultural landscape. • The K-pop group BTS is reportedly boycotting the Grammy Awards in protest over the introduction of a new Asian pop award category.

• The United States has launched new military strikes against Iran, contributing to an escalation of fighting across the Middle East. • Oil prices are hovering around $91 per barrel as markets react to the increased geopolitical instability and potential supply disruptions. • The "long bond" is experiencing volatility, indicating that investors are shifting their risk appetite in response to the intensifying conflict.

• Venture capital activity on July 29, 2026, saw significant funding rounds led by firms including Battery Ventures, Elephant, Thomson Reuters Ventures, and Y Combinator. • The largest investments over a 12-hour period were concentrated in AI infrastructure and enterprise technology rather than consumer-facing applications. • This trend indicates a strategic shift where investors are prioritizing foundational business solutions and infrastructure over speculative market hype.

• The Euro zone economy grew faster than anticipated in the most recent quarter, driven by increased spending on artificial intelligence and rising consumer confidence. • Key economies including Germany, France, and Italy each expanded by 0.2%, while the Netherlands grew by 0.4%, doubling previous expectations. • Spain continued its trend as the bloc's top performer, recording a 0.7% growth rate, which surpassed the projected 0.6%.

• The Federal Reserve implemented a "hawkish hold," maintaining current interest rates while signaling a potential for future hikes. • Market uncertainty was high leading into the decision, with Deutsche Bank noting a 36% probability of a rate hike, marking the most uncertain Fed meeting since December 2018. • This stance creates a volatile environment for stocks and bonds as investors struggle to predict the timing of future policy shifts.

• Asian chip stocks have declined due to fears of increasing competition from China in the AI trade. • CXMT is seen as a rising competitor, particularly in commodity DRAM, although it still lags behind Korean competitors in HBM. • The concerns over China competition are rattling the AI trade, with U.S. chip stocks also extending losses.

• Global markets experienced a shift in momentum in AI, leading to a slump in chip stocks, with South Korea's stocks falling over 10%. • Oil prices continued to tumble, but had little impact on stocks or bonds, with a 38% chance of a U.S. rate hike expected this week. • Key earnings reports are expected from major companies such as Mercedes-Benz, Barclays, and Boeing, which could influence market trends.

• South Korea announced $950 billion in new AI initiatives involving Samsung Electronics, SK Group, and various U.S. tech firms on July 24. • The massive investment focuses on developing and securing faster chips to address the current global shortage of high-performance hardware. • These deals are critical as global AI leaders race to build and power more advanced systems to maintain a competitive edge in the industry.

ICE will pay Canadian media giant US$125m to use its investigative database to identify ‘immigration fraud’A Canadian federal opposition party leader is calling on the Mark Carney government to block the latest data-sharing deal between US Immigration and Customs Enforcement (ICE) and the Canadian media giant Thomson Reuters.Avi Lewis, the federal leader of the New Democratic party (NDP), demanded on Tuesday that Ottawa address the contract and further restrict Canadian corporations from doing business with ICE, after Canada’s National Observer reported on the deal. Continue reading...

• China Vice Minister Hua Chunying, Japan Foreign Minister Motegi Toshimitsu, and South Korea Foreign Minister Cho Hyun attended the 27th ASEAN Plus Three Ministers’ Meeting. • The diplomatic gathering took place on July 23, 2026, in Pasay, Metro Manila, Philippines. • This meeting serves as a critical platform for coordinating regional security, economic stability, and diplomatic relations between ASEAN members and the three East Asian powers.

• AI-related trades saw a significant resurgence on Wednesday, driven by a surge in export demand across Asian markets. • This trend lifted chipmaker stocks and pushed the regional benchmark index to its highest level in one week. • The rally underscores the continued strength and volatility of the AI sector as global demand for semiconductors remains high.

• Europe’s STOXX 600 index closed at a two-week high, reflecting a positive trend across major European equity markets. • The index's growth was significantly bolstered by a surge in shares for Randstad, a global human resources consulting firm. • This upward movement indicates renewed investor confidence in European stocks following a period of volatility.

• Asian stock markets experienced instability as Brent crude oil prices climbed to $90 per barrel amid intensifying conflict between the US and Iran. • In a major industrial win, Foxconn has reportedly secured an AI server order from SpaceX estimated to be worth $52 billion. • The market volatility is being driven by a combination of rising energy costs, a strengthening US dollar, and anticipation of upcoming corporate earnings reports.

• Investors are focusing on upcoming earnings reports from Alphabet and Intel to gauge the current health and trajectory of the AI trade. • Market attention is shifting toward U.S. corporate earnings as the broader financial landscape reacts to macroeconomic data and inflation trends. • Recent consumer and producer price data came in cooler than expected, easing immediate fears that the Federal Reserve would raise interest rates at this month's meeting.