*TESLA CHINA JULY DELIVERIES RISE 37.8% Y/Y: CPCA
*CPCA SAYS TESLA CHINA JULY DELIVERIES HIT 93,579 UNITS
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*CPCA SAYS TESLA CHINA JULY DELIVERIES HIT 93,579 UNITS
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BESSENT ON YEN INTERVENTION: IT'S IMPORTANT TO HAVE A FRAMEWORK -CNBC INTERVIEW
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BESSENT ON YEN INTERVENTION: THEY ARE MAKING SERIOUS EFFORTS TO STEM DEVLUATION IN CURRENCY-CNBC INTERVIEW
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🇯🇵 BESSENT BACKS JAPAN'S YEN STABILIZATION EFFORTS
U.S. Treasury Secretary Scott Bessent said Washington has been in "close contact" with Japan over yen intervention.
"It's important to have a framework," Bessent said, adding Japan is making "serious efforts" to stem the yen's depreciation.
He also said he has a good working relationship with his Japanese counterpart and believes Japan "will put the right policies in place."
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U.S. Treasury Secretary Scott Bessent said Washington has been in "close contact" with Japan over yen intervention.
"It's important to have a framework," Bessent said, adding Japan is making "serious efforts" to stem the yen's depreciation.
He also said he has a good working relationship with his Japanese counterpart and believes Japan "will put the right policies in place."
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BESSENT ON YEN INTERVENTION: IF YEN WEAKENS OTHER CURRENCIES WOULD FOLLOW
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BESSENT: MANY PEOPLE BELIEVE CHINESE YUAN IS UNDERVALUED
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BESSENT ON YEN INTERVENTION: BELIEVE BANK OF JAPAN WILL DO WHAT IS NEEDED
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BESSENT ON YEN INTERVENTION: SEE NO REASON FOR JAPAN TO STOP ACCUMULATING SUBSTANTIAL OVERSEAS ASSETS
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BESSENT: WE MAY HAVE IRAN DEAL TOMORROW TO OPEN HORMUZ -CNBC INTERVIEW
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BESSENT: DEAL POSSIBLE TUESDAY OR WEDNESDAY ON HORMUZ -CNBC INTERVIEW
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BESSENT: SAW QUITE A FEW SHIPS COMING OUT OF HORMUZ EVEN NOW
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BRENT CRUDE FUTURES DOWN OVER 1% ON HOPES FOR U.S.-IRAN DEAL
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TRUMP'S IRAN STRIKE THREATS: A TIMELINE
🔸 March 21: Trump threatened to "hit and obliterate" Iranian power plants unless Hormuz reopened within 48 hours.
🔸 March 23: Delayed strikes for five days, citing "productive conversations" with Iran.
🔸 April 7: Warned "a whole civilization will die tonight."
🔸 Hours later: A two-week ceasefire was announced.
🔸 April 21: Said he expected "to be bombing" if talks failed.
🔸 Later that day: Extended the ceasefire.
🔸 May 17: Warned, "the Clock is Ticking."
🔸 May 18: Paused planned strikes after requests from Qatar, Saudi Arabia, and the UAE.
🔸 June 11: Said the U.S. would hit Iran "VERY HARD TONIGHT."
🔸 Hours later: Canceled the operation, saying a deal was near.
🔸 August 1: Said the U.S. was "locked and loaded."
🔸 Later: Called off the attack to pursue a deal with Tehran.
(@WalterBloomberg)
🔸 March 21: Trump threatened to "hit and obliterate" Iranian power plants unless Hormuz reopened within 48 hours.
🔸 March 23: Delayed strikes for five days, citing "productive conversations" with Iran.
🔸 April 7: Warned "a whole civilization will die tonight."
🔸 Hours later: A two-week ceasefire was announced.
🔸 April 21: Said he expected "to be bombing" if talks failed.
🔸 Later that day: Extended the ceasefire.
🔸 May 17: Warned, "the Clock is Ticking."
🔸 May 18: Paused planned strikes after requests from Qatar, Saudi Arabia, and the UAE.
🔸 June 11: Said the U.S. would hit Iran "VERY HARD TONIGHT."
🔸 Hours later: Canceled the operation, saying a deal was near.
🔸 August 1: Said the U.S. was "locked and loaded."
🔸 Later: Called off the attack to pursue a deal with Tehran.
(@WalterBloomberg)
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US JUN TRADE DEFICIT $73.26B; CONSENSUS DEFICIT $72.9B
MAY TRADE BAL REVISED TO DEFICIT $77.65B FROM DEFICIT $77.58B
JUN EXPORTS $314.73B, -0.9%; IMPORTS $387.99B, -1.8%
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MAY TRADE BAL REVISED TO DEFICIT $77.65B FROM DEFICIT $77.58B
JUN EXPORTS $314.73B, -0.9%; IMPORTS $387.99B, -1.8%
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SOCGEN: BUY THE DIP, SEES S&P 500 AT 8,000
Societe Generale says U.S. earnings strength is broadening beyond Big Tech and continues to support equities.
The bank notes 86% of companies have beaten earnings estimates, margins are at record highs, and 2026 EPS forecasts have risen to $335.
SocGen says AI investment remains strong and expects the S&P 500 to reach 8,000, urging investors to "buy the momentum dip."
(@WalterBloomberg)
Societe Generale says U.S. earnings strength is broadening beyond Big Tech and continues to support equities.
The bank notes 86% of companies have beaten earnings estimates, margins are at record highs, and 2026 EPS forecasts have risen to $335.
SocGen says AI investment remains strong and expects the S&P 500 to reach 8,000, urging investors to "buy the momentum dip."
(@WalterBloomberg)
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FED'S PAULSON: THIS IS A COMPLICATED TIME FOR MONETARY POLICY - CNBC
PAULSON: INFLATION IS TOO HIGH, WANTS TO BRING IT DOWN
PAULSON: NEED MILDLY RESTRICTIVE MONETARY POLICY AND FED LIKELY HAS THAT NOW
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PAULSON: INFLATION IS TOO HIGH, WANTS TO BRING IT DOWN
PAULSON: NEED MILDLY RESTRICTIVE MONETARY POLICY AND FED LIKELY HAS THAT NOW
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FED'S PAULSON: IF PROGRESS NOT MADE ON INFLATION, FED WILL NEED TO ACT
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MARKET MOVERS
🟢 UPGRADES
$PLTR: Deutsche Bank upgraded to Buy
$REPL: Leerink Partners upgraded to Outperform; PT raised to $17 from $11
🔴 DOWNGRADES
$BOW: Deutsche Bank downgraded to Hold; PT raised to $34 from $31; Piper Sandler downgraded to Neutral; PT cut to $34 from $36; RBC downgraded to Sector Perform; PT cut to $34 from $38
$CI: Jefferies downgraded to Hold; PT cut to $307 from $336
$INTU: Truist Securities downgraded to Hold; PT cut to $350 from $410
$ITGR: Truist Securities downgraded to Hold; PT raised to $127 from $110
$LNTH: TD Cowen downgraded to Hold; PT cut to $102.50 from $110; Truist Securities downgraded to Hold; PT cut to $102.50 from $125
$NKE: JP Morgan downgraded to Underweight; PT cut to $40 from $47
$OLN: Wells Fargo downgraded to Equal Weight; PT cut to $20 from $25
$PVH: JP Morgan downgraded to Underweight; PT raised to $84 from $70
$WMT: Oppenheimer downgraded to Perform
COVERAGE INITIATIONS
$APG: Wells Fargo initiated with Overweight; PT $53
$CRWV: Piper Sandler initiated with Overweight; PT $151
$FTH: JonesTrading initiated with Buy; PT $55
$IPEX: Benchmark initiated with Buy; PT $14
$PDFS: Wells Fargo initiated with Equal Weight; PT $50
$SAIL: D.A. Davidson initiated with Neutral; PT $17
$SMC: TD Cowen initiated with Buy; PT $39
$VSH: Needham initiated with Buy; PT $45; Raymond James initiated with Outperform; PT $40
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🟢 UPGRADES
$PLTR: Deutsche Bank upgraded to Buy
$REPL: Leerink Partners upgraded to Outperform; PT raised to $17 from $11
🔴 DOWNGRADES
$BOW: Deutsche Bank downgraded to Hold; PT raised to $34 from $31; Piper Sandler downgraded to Neutral; PT cut to $34 from $36; RBC downgraded to Sector Perform; PT cut to $34 from $38
$CI: Jefferies downgraded to Hold; PT cut to $307 from $336
$INTU: Truist Securities downgraded to Hold; PT cut to $350 from $410
$ITGR: Truist Securities downgraded to Hold; PT raised to $127 from $110
$LNTH: TD Cowen downgraded to Hold; PT cut to $102.50 from $110; Truist Securities downgraded to Hold; PT cut to $102.50 from $125
$NKE: JP Morgan downgraded to Underweight; PT cut to $40 from $47
$OLN: Wells Fargo downgraded to Equal Weight; PT cut to $20 from $25
$PVH: JP Morgan downgraded to Underweight; PT raised to $84 from $70
$WMT: Oppenheimer downgraded to Perform
COVERAGE INITIATIONS
$APG: Wells Fargo initiated with Overweight; PT $53
$CRWV: Piper Sandler initiated with Overweight; PT $151
$FTH: JonesTrading initiated with Buy; PT $55
$IPEX: Benchmark initiated with Buy; PT $14
$PDFS: Wells Fargo initiated with Equal Weight; PT $50
$SAIL: D.A. Davidson initiated with Neutral; PT $17
$SMC: TD Cowen initiated with Buy; PT $39
$VSH: Needham initiated with Buy; PT $45; Raymond James initiated with Outperform; PT $40
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