US CRUDE STOCKS IN LATEST WEEK FELL TO LOWEST SINCE SEPTEMBER 2018, EIA SAYS
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US CRUDE STOCKS IN SPR FELL IN LATEST WEEK TO LOWEST SINCE MAY 1983, EIA SAYS
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BOFA CEO DISMISSES RECESSION FEARS
Bank of America CEO Brian Moynihan said higher interest rates are not a sign of recession but reflect a resilient U.S. economy and the Fed's effort to control inflation.
Despite BofA forecasting three Fed rate hikes, Moynihan expects economic growth to remain strong while inflation gradually eases.
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Bank of America CEO Brian Moynihan said higher interest rates are not a sign of recession but reflect a resilient U.S. economy and the Fed's effort to control inflation.
Despite BofA forecasting three Fed rate hikes, Moynihan expects economic growth to remain strong while inflation gradually eases.
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DEUTSCHE BANK SEES TOKENIZATION RESHAPING MARKETS
Deutsche Bank says tokenized cash and collateral could transform financial markets by enabling 24/7 trading, near-instant settlement, and more efficient funding.
The bank sees rapid growth in tokenized money market funds and says tokenization could reduce reserve balances, expand intraday repo markets, and eventually reshape key U.S. interest rate benchmarks.
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Deutsche Bank says tokenized cash and collateral could transform financial markets by enabling 24/7 trading, near-instant settlement, and more efficient funding.
The bank sees rapid growth in tokenized money market funds and says tokenization could reduce reserve balances, expand intraday repo markets, and eventually reshape key U.S. interest rate benchmarks.
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SENIOR ADMINISTRATION OFFICIAL: US DID NOT AGREE TO RENEW USMCA IN CURRENT FORM
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MULTIPLE EXPLOSIONS HEARD IN UKRAINE'S KYIV - REUTERS WITNESS
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$META - META: AI UPSIDE KEEPS BUY CASE STRONG
BofA reaffirmed its Buy rating on Meta with an $835 price target.
The firm sees further upside from stronger AI models, MTIA chip progress, and new AI monetization opportunities. Better-than-expected Q2 results could reinforce AI-driven ad growth, while greater clarity on AI infrastructure value may support a higher valuation. Meta still trades below its recent peak multiple, leaving room for upside.
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BofA reaffirmed its Buy rating on Meta with an $835 price target.
The firm sees further upside from stronger AI models, MTIA chip progress, and new AI monetization opportunities. Better-than-expected Q2 results could reinforce AI-driven ad growth, while greater clarity on AI infrastructure value may support a higher valuation. Meta still trades below its recent peak multiple, leaving room for upside.
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$GOOGL - GOOGLE SEARCH & CLOUD STRENGTH OFFSET PT CUT
Wells Fargo lowered Alphabet's price target to $416 from $435 but kept its Overweight rating.
The firm expects stronger-than-expected Search and Cloud growth, driven by rising user engagement, AI demand, and expanding compute capacity. While higher AI investment trims longer-term forecasts, Wells Fargo believes Google's AI and cloud leadership supports continued earnings growth.
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Wells Fargo lowered Alphabet's price target to $416 from $435 but kept its Overweight rating.
The firm expects stronger-than-expected Search and Cloud growth, driven by rising user engagement, AI demand, and expanding compute capacity. While higher AI investment trims longer-term forecasts, Wells Fargo believes Google's AI and cloud leadership supports continued earnings growth.
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$AMZN - AWS MOMENTUM DRIVES AMAZON PT HIKE
Wells Fargo raised Amazon's price target to $313 from $312 while maintaining its Overweight rating.
The firm expects AWS growth to accelerate on strong AI demand, expanding compute capacity, and improving pricing power. While Prime Day timing may weigh on near-term revenue, Wells Fargo believes Amazon's cloud leadership and AI investments support stronger earnings and long-term upside.
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Wells Fargo raised Amazon's price target to $313 from $312 while maintaining its Overweight rating.
The firm expects AWS growth to accelerate on strong AI demand, expanding compute capacity, and improving pricing power. While Prime Day timing may weigh on near-term revenue, Wells Fargo believes Amazon's cloud leadership and AI investments support stronger earnings and long-term upside.
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JUNE JOBS REPORT IN FOCUS
Markets expect the U.S. to have added 114,000 jobs in June, down from 172,000 in May, with unemployment seen at 4.3%.
A resilient labor market could keep the Fed cautious on rate cuts, while a weaker-than-expected report may boost easing hopes. Economists expect limited market reaction unless payrolls or wage growth significantly exceed forecasts.
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Markets expect the U.S. to have added 114,000 jobs in June, down from 172,000 in May, with unemployment seen at 4.3%.
A resilient labor market could keep the Fed cautious on rate cuts, while a weaker-than-expected report may boost easing hopes. Economists expect limited market reaction unless payrolls or wage growth significantly exceed forecasts.
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HYPERSCALE DATA BUYS 67 BITCOIN BRINGING BITCOIN TREASURY TO APPROXIMATELY 849 BITCOIN
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GOLDMAN: INVESTORS TRIM BIG TECH EXPOSURE
Goldman Sachs says investors are reducing exposure to the Magnificent Seven as they favor AI beneficiaries, such as semiconductor companies, over hyperscalers funding heavy AI spending.
The bank believes markets are rewarding companies generating returns from AI investments while questioning those bearing the costs. Until hyperscalers show stronger earnings growth, caution toward mega-cap tech is likely to persist.
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Goldman Sachs says investors are reducing exposure to the Magnificent Seven as they favor AI beneficiaries, such as semiconductor companies, over hyperscalers funding heavy AI spending.
The bank believes markets are rewarding companies generating returns from AI investments while questioning those bearing the costs. Until hyperscalers show stronger earnings growth, caution toward mega-cap tech is likely to persist.
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IRAN SAYS IT WILL RESPOND TO US INTERVENTIONS IN HORMUZ: FARS
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JPM: AI CHIP RALLY MAY BE HARD TO SUSTAIN
JPMorgan says AI chip stocks may struggle to keep outperforming hyperscalers over the long term.
The bank expects either stronger AI monetization will help cloud providers catch up, or heavy AI spending could eventually curb hyperscaler capex and weaken chip demand. While JPM favors the positive scenario, slowing capex forecasts remain a key risk for semiconductor stocks.
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JPMorgan says AI chip stocks may struggle to keep outperforming hyperscalers over the long term.
The bank expects either stronger AI monetization will help cloud providers catch up, or heavy AI spending could eventually curb hyperscaler capex and weaken chip demand. While JPM favors the positive scenario, slowing capex forecasts remain a key risk for semiconductor stocks.
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UBS CUTS YEAR-END GOLD FORECAST TO $5,000/OZ ON HIGHER RATES
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*INDIA TO BUILD CRUDE OIL RESERVES AGAINST PRICE SPIKES
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SAUDI OIL EXPORTS SURGE AFTER HORMUZ REOPENS
Saudi Arabia is shipping its most crude through the Strait of Hormuz since the U.S.-Iran truce reopened the waterway.
Four Bahri supertankers carrying about 8 million barrels have exited the Gulf, signaling higher exports. The increase follows Saudi Aramco's recent spot sales to Asia and reflects improving regional shipping flows as OPEC's top producer ramps up exports.
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Saudi Arabia is shipping its most crude through the Strait of Hormuz since the U.S.-Iran truce reopened the waterway.
Four Bahri supertankers carrying about 8 million barrels have exited the Gulf, signaling higher exports. The increase follows Saudi Aramco's recent spot sales to Asia and reflects improving regional shipping flows as OPEC's top producer ramps up exports.
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HORMUZ SHIPPING STABILIZES, UNCERTAINTY REMAINS
Traffic through the Strait of Hormuz has recovered to an average of 40 vessel crossings per day, according to Kpler.
Shipping rebounded after recent attacks disrupted transit, but uncertainty persists over who controls passage. Iran claims authority over the strait, while the U.S. says no country has the right to restrict navigation.
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Traffic through the Strait of Hormuz has recovered to an average of 40 vessel crossings per day, according to Kpler.
Shipping rebounded after recent attacks disrupted transit, but uncertainty persists over who controls passage. Iran claims authority over the strait, while the U.S. says no country has the right to restrict navigation.
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INDIA OIL MINISTER: INDIA COMPANIES ARE NOT SELLING FUELS TO RUSSIA
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ROBINHOOD CEO: AI AGENTS TO RIVAL HUMAN TRADERS
Robinhood CEO Vlad Tenev said AI agents will soon match the capabilities of human traders as the company expands its AI-powered investing tools.
Tenev said the goal is to give retail investors institutional-grade trading capabilities. Robinhood recently launched AI trading tools and continues expanding its crypto business across Europe.
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Robinhood CEO Vlad Tenev said AI agents will soon match the capabilities of human traders as the company expands its AI-powered investing tools.
Tenev said the goal is to give retail investors institutional-grade trading capabilities. Robinhood recently launched AI trading tools and continues expanding its crypto business across Europe.
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