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According to Bloomberg, applications for US unemployment benefits were little changed last week, signaling layoffs remain limited. Initial claims decreased by 2,000 to 215,000 in the week ended July 4, a period that included the Independence Day holiday.The median forecast in a Bloomberg survey of economists called for 217,000 applications. Continuing claims edged up to 1.81 million in the previous week, according to Labor Department data released Thursday.The low level of claims suggests employers remain reticent to lay off workers. However, the June jobs report showed a slowdown in hiring, taking some shine off recent momentum in the labor market.The June report also showed many Americans left the labor force, a shift consistent with fewer filings for unemployment. Before seasonal adjustment, initial claims rose by nearly 10,000, almost entirely driven by an increase in filings in California.

The Block reported that CFTC Chair Michael Selig warned that regulators will end up writing all the rules for digital assets if Congress fails to pass the Clarity Act, as the Senate's legislative window narrows ahead of the August recess following a missed July 4 target.In a Fox Business interview, Selig urged lawmakers to advance the crypto market structure bill, which would divide oversight between the CFTC and the SEC. The House passed the legislation in July 2025, while the Senate Banking Committee advanced the measure on May 14 with two Democrats joining Republicans.Selig said the industry is operating under a patchwork of state laws and regulations he described as really bad for business, calling federal standards absolutely critical for certainty, clarity, and consumer protection.The CFTC chair pointed to mission creep beyond the bill's core objectives as the primary obstacle. Democrats have pressed for ethics language addressing President Trump, his family, and their crypto ventures, a demand Selig characterized as derailing a real bipartisan opportunity.Senate Digital Asset Subcommittee Chair Cynthia Lummis said lawmakers have been negotiating since last Labor Day, with discussions focused on decentralized finance, illicit finance provisions, and ethics rules.Galaxy Research cut its estimate for Clarity Act passage in 2026 to 50% from 60% in June, citing Senate calendar constraints. TD Cowen said passage before November midterms remains far from assured.Law enforcement groups raised concerns over Section 604, arguing that protections for non-custodial developers could create oversight gaps and complicate illicit finance investigations.

According to Reuters, Micron Technology said Thursday it plans to invest more than $250 billion in the US through 2035, driven by surging demand for memory chips in the AI era and President Donald Trump's push to bolster domestic chip production.The new plan represents a jump from the $200 billion Micron announced last June, which was already increased by $30 billion from its original spending plans.As part of the investment, Micron said it would spend $3 billion on strengthening the US semiconductor supply chain. Of that, $500 million will fund advancements in GlobalWafers' 300mm raw silicon wafer manufacturing facility in Sherman, Texas.Micron and GlobalWafers will also enter a 10-year supply agreement providing Micron access to significant raw silicon wafer capacity to support its long-term manufacturing plans.Shares of Micron were up more than 6% in premarket trading.

Bloomberg reported that SK Hynix Inc.'s US listing is more than seven times oversubscribed, according to people familiar with the matter, as the South Korean memory chipmaker prepares to price its offering Thursday.The sale of 177.9 million American depositary receipts has attracted demand from global long-only funds, technology sector-focused funds, sovereign wealth funds and Asia-focused global investors, the people said.Each ADR equals one-tenth of a common share. Based on Wednesday's Seoul closing price of 2.076 million won ($1,380), the offering would raise about $24.5 billion, according to Bloomberg calculations.That size would rank among the largest-ever US debuts by a foreign company, second only to Alibaba's $25 billion debut in 2014, according to data compiled by Bloomberg.The offering comes as SK Hynix Korea-listed shares and US-listed rival Micron Technology have fallen sharply in recent days amid cooling enthusiasm for AI infrastructure bets. SK Hynix declined 5.7% in Korea on Wednesday and is down 30% from a late-June record close.Banks leading the offering expect to stop taking orders at 4 p.m. Wednesday. Bank of America, Citigroup, Goldman Sachs and JPMorgan Chase are leading the deal with nine other firms participating.Baillie Gifford, Coatue Management and Situational Awareness Partners have indicated interest in as much as $7 billion worth of ADRs. The ADRs begin when-issued trading Friday on Nasdaq under symbol SKHYV, changing to SKHY for regular-way trading July 13.

Hong Kong’s Securities and Futures Commission (SFC) has issued a circular requiring internet brokers and virtual asset trading platform operators to adopt authentication methods that can effectively prevent impersonation scams for client logins and device binding.
According to Foresight News, the SFC said it is continuing efforts to combat impersonation scams and account takeover incidents targeting internet brokers and virtual asset trading platforms.
As part of these efforts, the regulator is requiring firms to stop using one-time passwords (OTPs) for client logins and device binding, citing related risks. The SFC said stronger alternative authentication options are already available, including passkeys and bound devices, which it described as more robust and better able to prevent impersonation scams.
The SFC said these anti-impersonation authentication methods should be implemented as soon as practicable, but must be adopted within 12 months from the date of the circular. It added that large internet brokers should adopt the measures immediately.
Beyond preventive monitoring controls, the SFC said internet brokers and virtual asset trading platforms should also implement effective detection and surveillance measures to identify suspicious login, trading, and withdrawal activity. It said firms should promptly notify clients of important account activity and respond in a timely manner to hacking incidents.
The regulator also said firms should regularly warn and remind clients about emerging impersonation scams and other cybersecurity risks.

Swift said 17 major banks including HSBC, UBS, Wells Fargo and Citi are preparing to pilot live transactions on its new blockchain-based shared ledger using tokenized deposits. The tests aim to enable round-the-clock cross-border payments, according to CoinDesk, allowing banks to move customer funds overnight and on weekends while final settlement remains on existing payment rails. Participants also include BNP Paribas, BNY and others across six continents; Swift says the platform will support regulated digital money and tokenized assets across multiple blockchains.

According to the announcement from Binance, Binance Futures is scheduled to launch seven USDⓈ-M perpetual contracts to expand trading choices and enhance the trading experience. The contracts will be introduced in sequence on 2026-07-09, starting with BOTUSDT at 2026-07-09 14:00 (UTC) and ending with FWDIUSDT at 2026-07-09 14:30 (UTC). The lineup includes BOTUSDT, WENUSDT, INTWUSDT, SNXXUSDT, XBIUSDT, BNCUSDT, and FWDIUSDT. Each contract uses USDT as the settlement asset, trades 24/7, and supports Multi-Assets Mode.Launch Schedule and Underlying Assets: BOTUSDT will track RoboStrategy, Inc. Common Stock (Nasdaq: BOT) at 2026-07-09 14:00 (UTC), followed by WENUSDT tracking Wendy's Company (The) Common Stock (Nasdaq: WEN) at 2026-07-09 14:05 (UTC). INTWUSDT, launching at 2026-07-09 14:10 (UTC), tracks GraniteShares 2x Long INTC Daily ETF, described as providing 2x daily leveraged exposure to Intel Corporation. SNXXUSDT at 2026-07-09 14:15 (UTC) tracks Tradr 2X Long SNDK Daily ETF, described as providing 2x daily leveraged exposure to Sandisk Corp. XBIUSDT at 2026-07-09 14:20 (UTC) tracks State Street SPDR S&P Biotech ETF, which tracks the biotechnology segment of the S&P Total Market Index (“S&P TMI”). BNCUSDT at 2026-07-09 14:25 (UTC) tracks CEA Industries Inc (Nasdaq: BNC), and FWDIUSDT at 2026-07-09 14:30 (UTC) tracks Forward Industries, Inc. Common Stock (Nasdaq: FWDI).Key Trading Parameters: Binance listed a capped funding rate of +2.00% / -2.00% for all seven contracts, with funding fee settlement frequency set to every eight hours and an interest rate of funding rate at 0%. Minimum notional value is 5 USDT across the contracts, while minimum trade amounts are 0.01 units of the respective underlying symbol. Tick size is 0.01 for BOTUSDT, WENUSDT, INTWUSDT, SNXXUSDT, and XBIUSDT, and 0.001 for BNCUSDT and FWDIUSDT. Maximum leverage is set at 25x for BOTUSDT, WENUSDT, INTWUSDT, SNXXUSDT, and XBIUSDT, and 10x for BNCUSDT and FWDIUSDT.

According to the announcement from Binance, the exchange will launch a 9th Anniversary VIP Campaign running from 2026-07-09 10:00 (UTC) to 2026-08-07 23:59 (UTC), offering three activities tied to VIP tier upgrades, trading-volume growth, and first-time attainment of higher VIP levels. The campaign is open to eligible verified Binance users in approved regions, including regular users and VIP users (VIP 1 to 8), though availability may vary by jurisdiction due to legal and regulatory requirements. Binance said rewards are not mutually exclusive, and sub-accounts will not be treated as separate participants; their trading volume will be combined with the master account, and registering via a sub-account will automatically enroll the master account.
Upgrade & Win: Binance said the first 1,000 users who upgrade their VIP tier by one level during the campaign period will receive an exclusive Binance 9YA VIP pickleball set. Eligible upgrades include regular user to VIP 1 (including VIP Rising Stars to VIP 1), VIP 1 to VIP 2, and VIP 2 to VIP 3. Volume Growth Challenge: VIP 1+ users who obtained VIP status before the campaign begins can compete by increasing combined Futures and Spot trading volume, including Stocks and bStocks, by at least 20% versus their June (2026-06) baseline, defined as 2026-06-01 00:00 (UTC) to 2026-06-30 23:59 (UTC). Winners are set to receive VIP swag and a USDC token airdrop, with 50 winners in the VIP 1 to 2 bracket and 10 winners in the VIP 3 to 5 bracket. Builders’ Table: users who reach VIP 7, 8, or 9 for the first time during the campaign period may receive an invitation to a private dining experience with Binance executives, with up to 9 invitations. Binance said winner notifications and address collection will be sent by 2026-08-28 23:59 (UTC), USDC airdrops credited by 2026-08-28 23:59 (UTC), and physical delivery completed by 2026-09-30.

The People’s Bank of China added 15 tonnes of gold to its reserves in June after XAU/USD fell below the $4,000 range last month.
According to NS3.AI, Krishan Gopaul said the purchase lifted China’s year-to-date net gold purchases to 41 tonnes.
Jerry Prior said China’s continued gold accumulation reflects what he described as a structural de-dollarization theme.

Bank of Korea Governor Shin Hyun-song said South Korea should introduce a regulatory framework for won-denominated stablecoins as soon as possible.
According to Foresight News, Shin made the remarks at a plenary meeting of the National Assembly’s Finance and Economy Committee, where he also stressed that stablecoins and deposit tokens should maintain a relationship that is both competitive and complementary.
Shin said that when introducing won stablecoins, issuance should prioritize a bank-centered consortium. He also called for safeguards, including establishing a statutory policy body involving relevant institutions, to reduce risks as much as possible.
In addition, Shin urged lawmakers to accelerate the legislative process for the Digital Asset Basic Act, described as second-stage legislation.
Separately, Yoo Dong-soo, chair of the National Assembly’s Political Affairs Committee, also called for faster legislation and requested that the Financial Services Commission submit a government proposal.

Singapore state-owned investor Temasek Holdings said crypto is “off the table” as it prioritizes artificial intelligence amid regulatory uncertainty and a $275 million write-off tied to FTX’s 2022 collapse. The fund aims to raise AI-related holdings to 15% of its portfolio by 2031 from 6% in the first quarter of 2026, according to CoinDesk, as Temasek Global Investments President Nagi Hamiyeh told CNBC. Temasek said it has no direct crypto investments today but will keep exploring blockchain technology, while warning some AI valuations have outpaced fundamentals.

Michael Saylor said he has released his own credit model that allows users to input assumptions to evaluate Bitcoin-related metrics.
According to Odaily, Saylor wrote on X that the model lets anyone enter assumptions for BTC price, volatility, and ARR.
He said the model can be used to assess implied BTC risk, BTC credit spreads, BTC dividend duration, and BTC break-even ARR.

According to the announcement from Binance, the exchange will launch an Opinion (OPN) spot trading tournament with a total prize pool of 5,000,000 OPN distributed as token vouchers. The promotion period is scheduled for 2026-07-09 10:00 (UTC) to 2026-07-16 10:00 (UTC). Binance said participation is open to verified new users, regular users, and Binance VIP users, while liquidity providers in the Binance Spot Liquidity Provider Program and Binance Brokers are not eligible. The eligible spot trading pairs are OPN/USDT and OPN/USDC. To qualify for rewards, participants must register and reach at least 500 USD equivalent in total trading volume across the eligible pairs during the promotion period; users below this threshold will not qualify.
Main Rewards: Binance said rankings will be based on cumulative trading volume from 2026-07-09 10:00 (UTC) to 2026-07-16 10:00 (UTC). Rewards include 150,000 OPN for 1st place, 125,000 OPN for 2nd, 100,000 OPN for 3rd, 75,000 OPN for 4th, and 50,000 OPN for 5th. Additional allocations include equal-split pools for ranks 6th–20th (500,000 OPN), 21st–50th (500,000 OPN), 51st–200th (800,000 OPN), and 201st–1,000th (700,000 OPN). Remaining eligible participants will share 1,000,000 OPN, capped at 100 OPN per user.
Sprint Rewards and Distribution: Binance also outlined a “Sprint Reward” with two statistical periods: Round 1 runs 2026-07-09 10:00 (UTC) to 2026-07-11 10:00 (UTC), and Round 2 runs 2026-07-11 10:01 (UTC) to 2026-07-13 10:00 (UTC). Each round offers the same top-five rewards as the main structure, and users may earn from both pools. Binance said token vouchers will be distributed by 2026-07-30 and will expire within 21 days after distribution.

The global cryptocurrency market cap now stands at $2.16T, down by 1.13% over the last day, according to CoinMarketCap data.Bitcoin (BTC) has been trading between $61,545 and $63,283 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $62,927, up by 1.58%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include SOXLB, THE, and NBISB, up by 24%, 24%, and 20%, respectively. A Divided Fed, a Chip Financing Rush, and a Stablecoin Land Grab Redraw Digital MarketsThe Fed's internal split over hikes amid AI-fueled inflation pressure, a wave of semiconductor capital-raising from SK Hynix's $24.5B listing to CXMT's $4.3B IPO, and traditional players like Sony and jurisdictions like Kazakhstan racing to formalize stablecoin infrastructure. Together they describe a market where policy, hardware, and regulation are reshaping the risk landscape at once. Bitcoin's 1.58% rise to $62,927 belies the crosscurrents, with the broader crypto cap easing 1.13% to $2.16T.. Top stories of the day:Fed Minutes Show Split on Rate Hikes as Committee Holds at 3.50%–3.75% Key Takeaways:3.50%–3.75% Rate HoldSplit Fed ProjectionsAI Inflation PressuresSummary:Federal Reserve minutes released July 8 showed officials unanimously held rates at 3.50% to 3.75% at the June 16-17 meeting. The minutes showed policymakers were divided on whether another rate hike is needed this year, with nine of 19 officials projecting at least one hike before end-2026. Officials cited tariff pass-through, Middle East energy costs, and AI-related demand for technology, data centers, and electricity as inflation pressures. Bitcoin traded near $62,240, down about 2.7% over 24 hours, reflecting broader sensitivity to rate expectations.   STOCKS | SK Hynix US Offering More Than Seven Times Oversubscribed Key Takeaways:$24.5B raise ranks behind only Alibaba's 2014 IPOSeven times oversubscribed with broad institutional demandStock down 30% from late-June record closeSummary:SK Hynix Inc.'s US listing of 177.9 million American depositary receipts is more than seven times oversubscribed, drawing demand from global long-only funds, sovereign wealth funds, technology-focused investors, and Asia-focused global investors ahead of pricing on Thursday, with the offering on track to raise approximately $24.5 billion based on Wednesday's Seoul closing price. That size would rank as the second-largest US debut by a foreign company, behind only Alibaba's $25 billion listing in 2014, with anchor indications of interest from Baillie Gifford, Coatue Management, and Situational Awareness Partners totaling up to $7 billion. The offering arrives amid a cooling AI infrastructure trade, with SK Hynix shares declining 5.7% in Korea on Wednesday and down 30% from a late-June record close, testing investor appetite for memory chip exposure at a moment when sentiment has turned cautious on the sector.   Memory Chipmaker CXMT to Open Subscriptions Next Week for $4.3 Billion China IPO Key Takeaways:$4.3 Billion IPODRAM Supply ConstraintsSTAR Board ListingSummary:CXMT Corp. will open investor subscriptions next week for a planned Shanghai STAR Board IPO expected to raise at least 29.5 billion yuan, or $4.3 billion. The Hefei-based DRAM maker is offering 6.688 billion shares, with a possible overallotment lifting proceeds above $5 billion. The listing would be mainland China’s largest since Cnooc’s 2022 offering and signals continued capital support for domestic semiconductor capacity. Apple’s reported request to source CXMT chips highlights ongoing strain in global memory-chip supply chains.   SpaceX (SPCX) Drops as Much as 35% From Post-IPO Peak After Nasdaq-100 Addition Key Takeaways:Stock at $148, below $150 debut price$4.9B net loss in 2025 plus $4.3B in Q1 2026Market cap still near $1.9 trillionSummary:SpaceX (SPCX) shares have fallen as much as 35% from their post-IPO peak of $225.64, closing at $148 on July 8 — below the $150 debut price for a second consecutive session — as heavy selling offset the forced index buying that accompanied the company's addition to the Nasdaq-100. The decline erases nearly all gains since SpaceX's June 12 listing, leaving the stock with a market capitalization near $1.9 trillion despite mounting profitability concerns, including a $4.9 billion net loss in 2025 and an additional $4.3 billion loss in Q1 2026 against $18.7 billion in 2025 revenue. The selloff suggests investor appetite for SpaceX has cooled significantly since the euphoric IPO rally, with the company's substantial capital expenditure and operating losses now weighing on sentiment.   Kazakhstan Issues Decree to Expand Regulation and Incentives for Digital Assets Key Takeaways:Full Ecosystem RegulationDigital Asset Tax BenefitsStablecoin Payment SupportSummary:Kazakhstan President Kassym-Jomart Tokayev signed a decree to reshape the country’s legal and economic framework for digital assets. The measure aims to bring the full virtual asset ecosystem under regulation while introducing tax benefits for the industry. It also supports stablecoin payments and digital asset mining that uses natural gas, signaling a broader effort to structure and incentivize the sector.   Sony Receives Conditional OCC Approval to Establish National Trust Bank for U.S. Dollar Stablecoin BusinessKey Takeaways:Conditional OCC trust bank approval securedConnectia Trust launching in 2027$40 million initial capitalizationSummary:Sony has received conditional approval from the U.S. Office of the Comptroller of the Currency to establish a national trust bank, with plans to launch Connectia Trust in 2027 under Sony Financial Group with $40 million in capital. The trust subsidiary will focus on the issuance and management of U.S. dollar stablecoins, positioning Sony to enter the regulated digital currency infrastructure space alongside its existing financial services footprint. The approval marks a notable step for a traditional Japanese conglomerate expanding into U.S.-regulated stablecoin operations, though the conditional nature of the OCC's sign-off suggests additional compliance milestones must be met before launch.   Paradigm Raises $1.2 Billion Third Fund to Expand Beyond Crypto Into AI and RoboticsKey Takeaways:$1.2 Billion FundAI Investment ShiftCrypto Funding SlumpSummary:Paradigm has raised a $1.2 billion third venture fund to invest beyond crypto, including artificial intelligence and robotics, according to Bloomberg. The expansion follows a surge in AI startup funding and weaker crypto-related investment activity, with AI accounting for 70% of global startup bets in the second quarter. Paradigm’s move signals a broader repositioning by crypto-native investors toward emerging technology sectors while maintaining exposure to digital assets. The firm has already backed Zipline and True Anomaly from the new fund.   Market movers:NVDAB: $204.42 (+5.76%)MSFTB: $381.58 (-0.62%)GOOGLB: $361.02 (-0.17%)SPCXB: $150.79 (+1.00%)METAB: $607.17 (+0.43%)TSLAB: $396.49 (-0.12%)MUB: $985.01 (+11.58%)AMDB: $527.42 (+4.57%)SPYB: $747.05 (+0.19%)LITEB: $726.43 (+7.98%)

Bloomberg reported that memory giant CXMT Corp. will open investor subscriptions for its public offering next week, kicking off the final stage in the year's most highly anticipated listing.The Hefei-based company is offering 6.688 billion shares, with half earmarked for cornerstone investors. An overallotment option would increase the total to 6.788 billion shares, representing 11.3% of total shares.CXMT plans to raise at least 29.5 billion yuan ($4.3 billion) on Shanghai's STAR Board, potentially rising to more than $5 billion if the overallotment is exercised, according to its prospectus.At that size it would be the biggest IPO in mainland China since Cnooc raised $5.1 billion in 2022, and the largest in Asia since CATL's $5.3 billion share sale in May 2025.CXMT is the world's fourth-largest maker of DRAM, critical for real-time data processing by AI models. The company aims to deploy IPO proceeds to expand wafer fabrication capacity and upgrade its DRAM technology.Apple is appealing to White House officials for approval to source chips from CXMT despite its presence on a Pentagon blacklist, Bloomberg reported. The request underscores growing strain on global memory-chip supplies.

Kazakhstan President Kassym-Jomart Tokayev has signed a decree to reshape the country’s legal and economic framework for digital assets, aiming to bring the full virtual asset ecosystem under regulation. According to NS3.AI, Akorda said the decree is intended to incorporate the entire virtual asset sector into the regulatory fold.The measures outlined include tax benefits for the digital asset industry. The decree also supports stablecoin payments and backs digital asset mining that uses natural gas.

Federal Reserve minutes released July 8 showed officials unanimously held rates at 3.50% to 3.75% at the June 16-17 meeting, but were divided on whether another hike is needed this year and flagged inflation risks tied to artificial intelligence spending. According to BeInCrypto, the meeting was Chair Kevin Warsh’s first, and the minutes cited tariff pass-through, Middle East energy costs, and AI-driven demand for tech, data centers and electricity as key inflation pressures.Nine of 19 officials penciled in at least one rate hike before end-2026, while Fed staff raised inflation forecasts for 2026 and 2027. Bitcoin (BTC) traded near $62,240, down about 2.7% over 24 hours.

China’s A-share benchmarks rallied on July 9, with the ChiNext Index rising 4.49% and at one point gaining more than 4%, as semiconductors, electronic components and related themes outperformed, according to Jiemian News. China’s central bank said at its second-quarter monetary policy committee meeting that it will continue an “appropriately accommodative” stance and prioritize credit support for areas including technological innovation, AI computing power and advanced chips.
Separately, the Shanghai Stock Exchange said memory-chip maker ChangXin Technology on July 9 released its STAR Market IPO prospectus and issuance and preliminary bookbuilding announcement, formally launching the offering process; both offline and online subscription dates were set for July 16, 2026. The GF ChiNext ETF (159952) rose 4.34% by the close, while the fund’s latest shares outstanding reached 3.831 billion and its net inflows over the past nine trading days totaled 1.075 billion yuan, the report said.

Block agreed to pay $45 million to settle claims from regulators in most U.S. states alleging false advertising related to Cash App. According to NS3.AI, regulators said Cash App promoted bank-like protections.
Regulators involved included the New York Attorney General's Office. Block said it did not admit legal liability or wrongdoing as part of the settlement.

According to Bloomberg, Paradigm, the venture firm founded to invest in cryptocurrency companies, has raised a new $1.2 billion fund to make bets outside the sector, including artificial intelligence and robotics.The fund, set to be announced Wednesday, is Paradigm's third venture vehicle. The expansion to AI follows an explosion of funding activity for AI startups and a slump in crypto-related investments.Founded in 2018, Paradigm had about $11.9 billion in assets under management at the end of 2025, according to a securities filing. Its crypto thesis led to bets including prediction markets platform Kalshi, which hit a $22 billion valuation in March.Managing partner Alana Palmedo said crypto was the firm's first frontier and remains exciting, but there is too much else happening to ignore.Bitcoin has tumbled nearly 30% this year as rising interest rates push firms to sell riskier assets. Venture investments in AI accounted for 70% of all global startup bets in the second quarter, according to Crunchbase.Paradigm has already invested from the new fund in autonomous drone startup Zipline, valued at $7.6 billion in January, and space defense startup True Anomaly, valued at $2.2 billion in April.The firm also builds its own technology, having released an AI agent evaluation tool with OpenAI earlier this year. Co-founder Matt Huang leads the payments blockchain Tempo, co-created with Stripe.Paradigm is building a prediction markets platform to spin out as an independent company, built on top of existing platforms like Kalshi without competing with them.Huang co-founded Paradigm with Coinbase co-founder Fred Ehrsam after leaving Sequoia Capital. He said the firm was never intended to be solely crypto-focused, but to seize technological paradigm shifts — nearly a decade ago that was crypto, now it is AI.

Markets stayed volatile as the U.S.-Iran conflict entered its second day after a ceasefire collapse, with Brent crude trading just below $73 a barrel, down more than 2.5% in 24 hours. Meanwhile, bitcoin rose about 1% over the same period to near $63,000, according to CoinDesk, while gold traded above $4,100 an ounce and silver stayed below $60.
U.S. Treasury yields consolidated after Wednesday’s rise, with the 10-year holding above 4.5% and the 30-year above 5%. Separately, U.S. spot bitcoin ETFs saw $85 million of net outflows Wednesday, while ether ETFs took in about $70 million.

IBM shares fell more than 2% in U.S. premarket trading, while Microsoft shares were down nearly 1%.
According to Jin10, the moves occurred ahead of the U.S. stock market open.

Citi said surging memory prices would lead to widespread demand destruction and forecast declines in 2026 shipments for personal computers and smartphones.
According to Jin10, Citi predicted that 2026 personal computer shipments would fall 15% and smartphone shipments would drop 12%.

HSBC forecast that gold prices would fluctuate between $3,800 and $4,700 per ounce for the remainder of 2026. According to Jin10, HSBC also put the year-end gold price at $4,750 per ounce.

GigaDevice Innovation said it expects revenue of about 11.5 billion yuan ($1.60 billion) in the first half of 2026, up about 177% year on year, according to Jiemian News. The company also forecast attributable net profit of about 6.9 billion yuan ($960 million), up about 1,099%, versus revenue of about 4.15 billion yuan and attributable net profit of about 575 million yuan a year earlier.
GigaDevice attributed the surge mainly to tight supply in the memory chip industry, which lifted both volumes and prices for its memory products and improved profitability. It also said microcontroller shipments grew on demand from industrial, consumer and automotive applications, and that gains in the fair value of its securities investments boosted recognized fair-value change income.

Tehran shipped at least 10 million barrels of crude oil and fuel oil overnight after anticipating that the United States was about to restore a maritime blockade. According to Jin10, the information was attributed to TankerTrackers.

According to Axios, President Trump said the U.S. does not want to do “any trade business with Spain anymore,” escalating a dispute tied to NATO spending and Spain’s stance on Iran. Spain’s benchmark stock index fell 2.7% on Wednesday, its biggest one-day drop since Trump last threatened a trade embargo on Spain in March, and the premium investors demand to hold Spanish government debt relative to Germany rose to its highest level this month. Axios noted the U.S. Supreme Court has narrowed one of Trump’s most aggressive trade authorities, while a top Spanish official said Spain has a “very positive economic relationship with the U.S.”

Russia’s central bank data showed the country’s gold reserves fell for a sixth consecutive month and dropped below $300 billion at the end of June.
According to Jin10, the gold sales were mainly aimed at filling the budget deficit while also replenishing foreign exchange reserves.
Analysts expected the gold sell-off to continue.

China’s A-share benchmarks closed higher on July 9, with the Shanghai Composite up 1.65%, the Shenzhen Component up 3.07% and the ChiNext Index up 4.49%, while the Beijing Stock Exchange’s BSE 50 gained 0.44% and the STAR 50 surged 8.41%, according to Jiemian News. Turnover in Shanghai and Shenzhen totaled about 2.913729 trillion yuan, up about 350.206 billion yuan from the previous session; 2,486 stocks rose and 2,888 fell, with 75 hitting daily limit-up and 14 limit-down. Semiconductor-related themes led gains, including memory chips, electronic chemicals, CPO, optical fiber, PCBs and liquid-cooled servers, while tourism and hotels, energy metals, dairy, coal, steel, airports and shipping, and baijiu were among the laggards.

China’s commodity futures closed mixed on July 9, with lithium carbonate and the Europe container shipping route contract down more than 5%, Jiemian News reported. Cotton and Shanghai silver fell more than 2%, while cotton yarn and stainless steel slid more than 1%; glass and starch posted smaller declines. On the upside, fuel oil and crude oil rose more than 3%, while Shanghai nickel and styrene gained more than 1%; industrial silicon and red dates edged higher.

The European Central Bank’s minutes from its June meeting said the bank could no longer ignore the energy shock, as rising energy prices were expected to push medium-term inflation above its 2% target.
According to Jin10, the ECB Governing Council unanimously decided last month to raise its key interest rate to 2.25%, making it the first major central bank to hike rates due to elevated energy prices linked to the war in Iran.
The minutes said the current situation was clearly no longer one in which the shock could be disregarded. They added that the longer energy prices stayed high, the more likely it was that indirect and second-round effects would lift broader inflation, increasing the risk that the energy shock would become embedded in underlying inflation and in medium- to long-term inflation expectations.

Spot gold rose to $4,100 per ounce. According to Jin10, spot gold touched $4,100 per ounce, up 0.55% on the day.

Oil-themed funds opened higher but later gave up gains and turned lower. According to Jin10, Harvest Crude Oil LOF, E Fund Crude Oil LOF, and Southern Crude Oil LOF fell in afternoon trading after each had risen more than 7% earlier in the session.
The S&P Oil & Gas ETF of Fullgoal Fund Management and Petroleum LOF also turned lower.
U.S. President Donald Trump previously said Iran had called earlier and that it wanted to reach an agreement.

Technology stocks led gains in equity markets after SK Hynix Inc. drew strong demand ahead of its US listing, according to Bloomberg.
Oil prices fluctuated as traders weighed whether escalating tensions between the US and Iran could lead to a return to war.

HSBC analysts said strengthening memory chip prices may continue to support record results at Samsung Electronics.
According to Odaily, analysts Ricky Seo and Han Kil Chang expect Samsung Electronics’ third-quarter operating profit to rise 25% quarter-on-quarter, driven by a 20% increase in sales.
They cited expectations that DRAM and NAND chip prices will rise 15%, seasonal demand for OLED panels alongside the release of new foldable phones, and a recovery in smartphone profit margins.
The analysts also said Samsung Electronics’ operating profit this year could increase by more than eightfold to 376 trillion won, as cloud service providers are unlikely to slow computing capacity expansion in the short term. They forecast operating profit to grow a further 37% next year.
HSBC maintained its buy rating and a target price of 450,000 won.

South Korea’s SK Hynix has become one of the top names in the stock market’s hottest segment as demand tied to the AI boom lifts the memory-chip maker, according to Bloomberg.
The report said the once-embattled company has turned into a tech favorite ahead of its planned US listing.

Oil fluctuated after surging by more than 5% on Wednesday as traders assessed the outlook for Middle East supplies following fresh hostilities between the US and Iran, according to Bloomberg.

Poland's central bank governor said the central bank had 12.75 billion zloty in unrealized profit on its gold holdings. According to Jin10, the governor described the profit as unrealized and tied to gold.

Meta Platforms shares fell 3.6% in pre-market trading. According to Jin10, the move was seen ahead of the regular U.S. market open.