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BigBreakingWire
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Oman has proposed a joint regional framework to manage the Strait of Hormuz, according to Refinitiv citing Gulf sources. The user-funded plan, modeled on the Malacca Strait system, would support navigation safety, environmental protection and search-and-rescue operations while ensuring Iran is not the sole controller of the strategic waterway.
$USO.ETF
$USO.ETF
USOETF+4,51%
China's CXMT surged about 470% in its Shanghai debut, becoming China's most valuable listed company. NVIDIA announced a $500B+ partnership with SK Group and is reportedly pursuing $750B in AI infrastructure deals, while Samsung, SK Hynix and Micron fell sharply as the Philadelphia Semiconductor Index stayed in bear-market territory.
#SKHynixPlunges13%AsKOSPIDrops10%
#SKHynixPlunges13%AsKOSPIDrops10%
🚨 KOSPI Becomes Global AI Market Proxy
• KOSPI's 60-day correlation with the Nasdaq-100 has climbed to around 0.50, the highest since 2021, as AI spending links U.S. tech giants with Korean chipmakers.
• Samsung Electronics and SK Hynix now account for more than half of the KOSPI's weight, effectively making the index a semiconductor proxy, according to Futurum Group.
• Recent sharp swings in Korean chip stocks have led global investors to treat KOSPI as a key indicator of AI investment flows.
• Analysts warn that stronger correlation with U.S. tech reduces diversification benefits and could leave South Korea more vulnerable if hyperscalers cut AI spending.
• KOSPI's 60-day correlation with the Nasdaq-100 has climbed to around 0.50, the highest since 2021, as AI spending links U.S. tech giants with Korean chipmakers.
• Samsung Electronics and SK Hynix now account for more than half of the KOSPI's weight, effectively making the index a semiconductor proxy, according to Futurum Group.
• Recent sharp swings in Korean chip stocks have led global investors to treat KOSPI as a key indicator of AI investment flows.
• Analysts warn that stronger correlation with U.S. tech reduces diversification benefits and could leave South Korea more vulnerable if hyperscalers cut AI spending.
🚨 BREAKING: South Korea Loan Rates Climb After Rate Hike
• Bank of Korea data showed banks' average new loan rate rose 12 bps to 4.31% in June as market rates increased.
• Corporate lending rates climbed 14 bps to 4.27%, while new household loan rates rose 4 bps to 4.50%.
• Housing mortgage rates increased to 4.36%, the highest since November 2023, while non-mortgage household loans jumped 23 bps to 5.72%.
• The central bank said lending rates have been rising alongside market rates after its first interest rate hike in 3.5 years.
• Bank of Korea data showed banks' average new loan rate rose 12 bps to 4.31% in June as market rates increased.
• Corporate lending rates climbed 14 bps to 4.27%, while new household loan rates rose 4 bps to 4.50%.
• Housing mortgage rates increased to 4.36%, the highest since November 2023, while non-mortgage household loans jumped 23 bps to 5.72%.
• The central bank said lending rates have been rising alongside market rates after its first interest rate hike in 3.5 years.
Japan and South Korea chip stocks slumped as NVIDIA-related concerns and rising competition hit AI shares, with SK Hynix plunging nearly 11% and the KOSPI dropping up to 7.6%.
#SKHynixSlumps11%OnAIChipSelloff
#SKHynixSlumps11%OnAIChipSelloff
🚨 BREAKING: U.S. Strategic Oil Reserve Falls to 1983 Low
• Refinitiv, citing U.S. DOE data, said Strategic Petroleum Reserve (SPR) crude inventories fell 3.7 million barrels last week.
• SPR holdings dropped to 307.7 million barrels, the lowest level since March 1983.
• The drawdown is part of an agreement to release 172 million barrels from the reserve.
• Refinitiv, citing U.S. DOE data, said Strategic Petroleum Reserve (SPR) crude inventories fell 3.7 million barrels last week.
• SPR holdings dropped to 307.7 million barrels, the lowest level since March 1983.
• The drawdown is part of an agreement to release 172 million barrels from the reserve.
🚨 BREAKING: Trump Pushes for Lower Rates, Signals Iran Talks
• President Trump praised Fed Chair Kevin Warsh, calling him "outstanding," and said he is confident Warsh will do the right thing.
• Trump said U.S. interest rates should be lower, adding the country should have the world's lowest rates as costs are falling.
• Trump said the U.S. is in "good talks" with Iran and that "it's very possible something will happen" on a potential agreement.
• He added the U.S. will seek satellite imagery from Russia to assist on Iran and said prices will fall sharply once the war ends.
• President Trump praised Fed Chair Kevin Warsh, calling him "outstanding," and said he is confident Warsh will do the right thing.
• Trump said U.S. interest rates should be lower, adding the country should have the world's lowest rates as costs are falling.
• Trump said the U.S. is in "good talks" with Iran and that "it's very possible something will happen" on a potential agreement.
• He added the U.S. will seek satellite imagery from Russia to assist on Iran and said prices will fall sharply once the war ends.
Bitcoin traded near $64,000 on Monday as the US and Iran paused military strikes, easing geopolitical tensions and boosting risk appetite. Brent crude fell over 6% on hopes of a diplomatic resolution. Investors now await the Fed's two-day FOMC meeting, with rates expected to remain at 3.5%–3.75%.
#BrentCrudeFallsAbout6%
#BrentCrudeFallsAbout6%
Goldman Sachs expects the Fed to hold rates this week. Markets price a 31.5% chance of a hike, with focus on Chair Kevin Warsh's guidance and its impact on Treasury yields.
🚨 BREAKING: Ceasefire Hopes Rise, Oil Drops on Iran-U.S. Pause
• Polymarket now assigns a 75% probability of an Iran–U.S. ceasefire by Aug. 31, following reports President Trump paused recent strikes on southern Iran.
• Brent crude fell ~6% to around $91/bbl, WTI dropped below $84/bbl, while European gas prices slid up to 7.8% as supply fears eased.
• The U.S. reportedly paused strikes after 13 days of operations, while Iran's army said Tehran also paused its responses.
• Houthi forces claimed attacks on ARAMCO facilities at Jazan and Yanbu. Saudi Arabia and ARAMCO had not confirmed the claims.
• Polymarket now assigns a 75% probability of an Iran–U.S. ceasefire by Aug. 31, following reports President Trump paused recent strikes on southern Iran.
• Brent crude fell ~6% to around $91/bbl, WTI dropped below $84/bbl, while European gas prices slid up to 7.8% as supply fears eased.
• The U.S. reportedly paused strikes after 13 days of operations, while Iran's army said Tehran also paused its responses.
• Houthi forces claimed attacks on ARAMCO facilities at Jazan and Yanbu. Saudi Arabia and ARAMCO had not confirmed the claims.
🚨 BREAKING: U.S. Missile Stocks Reportedly Heavily Depleted
• ABC News/CSIS: U.S. has used ~1/3 of key precision-guided munitions.
• THAAD, SM-3 & Patriot interceptors saw the biggest drawdowns, with THAAD reportedly down ~80%.
• Over 1,000 Tomahawk and 1,100+ JASSM long-range missiles were reportedly fired.
• PrSM stocks are reportedly nearly depleted, with 40–70 missiles launched from a stock of about 90.
• ABC News/CSIS: U.S. has used ~1/3 of key precision-guided munitions.
• THAAD, SM-3 & Patriot interceptors saw the biggest drawdowns, with THAAD reportedly down ~80%.
• Over 1,000 Tomahawk and 1,100+ JASSM long-range missiles were reportedly fired.
• PrSM stocks are reportedly nearly depleted, with 40–70 missiles launched from a stock of about 90.
🚨 BREAKING: $29.6 Billion Flows Into Emerging Market Equity Funds
• Bank of America said $29.6 billion flowed into emerging market equity funds in the week through July 22, marking the second-largest weekly inflow on record.
• China equity funds attracted $21.3 billion, accounting for the majority of inflows as investors rotated away from developed markets.
• U.S. equity funds saw $7.2 billion in outflows, while European equity funds lost $1.6 billion during the same period.
• BofA's July fund manager survey showed cash levels at 3.6%, below its contrarian sell signal, while a record 54% of managers expect a "no landing" economic scenario.
• Bank of America said $29.6 billion flowed into emerging market equity funds in the week through July 22, marking the second-largest weekly inflow on record.
• China equity funds attracted $21.3 billion, accounting for the majority of inflows as investors rotated away from developed markets.
• U.S. equity funds saw $7.2 billion in outflows, while European equity funds lost $1.6 billion during the same period.
• BofA's July fund manager survey showed cash levels at 3.6%, below its contrarian sell signal, while a record 54% of managers expect a "no landing" economic scenario.
🚨 BREAKING: BitMart to Shut Down Global Crypto Exchange Operations
• BitMart announced a phased shutdown of its global cryptocurrency exchange after reviewing its operating conditions, market environment, and future strategy.
• The exchange has stopped new registrations, crypto and fiat deposits, and new spot orders from July 26, while futures entered reduce-only mode and automated trading services began winding down.
• All spot, futures, and other trading services will end on August 26, 2026, with the platform's trading operations scheduled to fully terminate on January 31, 2027.
• Users will retain limited account access after January 31, 2027, to review records and withdraw remaining assets.
• BitMart announced a phased shutdown of its global cryptocurrency exchange after reviewing its operating conditions, market environment, and future strategy.
• The exchange has stopped new registrations, crypto and fiat deposits, and new spot orders from July 26, while futures entered reduce-only mode and automated trading services began winding down.
• All spot, futures, and other trading services will end on August 26, 2026, with the platform's trading operations scheduled to fully terminate on January 31, 2027.
• Users will retain limited account access after January 31, 2027, to review records and withdraw remaining assets.
🚨 BREAKING: BofA Sees Fed Rate Hikes as Oil Inflation Risks Rise
• Bank of America warned persistent oil price volatility from shipping disruptions and geopolitical tensions could force central banks to tighten monetary policy.
• BofA CEO Brian Moynihan said the bank now expects the Federal Reserve to raise interest rates, forecasting three 25-basis-point hikes in 2026 instead of rate cuts.
• The Asian Development Bank (ADB) cut its 2026 developing Asia growth forecast to 4.9% and expects regional inflation to rise to 4.3%, driven by elevated energy prices.
• BofA said repeated energy price shocks risk embedding inflation, making the traditional "look-through" approach to oil-driven inflation increasingly ineffective.
• Bank of America warned persistent oil price volatility from shipping disruptions and geopolitical tensions could force central banks to tighten monetary policy.
• BofA CEO Brian Moynihan said the bank now expects the Federal Reserve to raise interest rates, forecasting three 25-basis-point hikes in 2026 instead of rate cuts.
• The Asian Development Bank (ADB) cut its 2026 developing Asia growth forecast to 4.9% and expects regional inflation to rise to 4.3%, driven by elevated energy prices.
• BofA said repeated energy price shocks risk embedding inflation, making the traditional "look-through" approach to oil-driven inflation increasingly ineffective.
Tesla shares dropped nearly 20% this week, closing at $313.03. This marks the biggest weekly fall since 2022. SpaceX shares hit $115.07, the lowest point since its IPO last month. The Bloomberg Billionaires Index shows Musk lost roughly $130 billion in five trading days. He briefly became the first person with a net worth over $1 trillion a few weeks ago. Musk joked on social media that he is now a "former trillionaire."
🚨 South Korea Announces $950 Billion AI Partnership Package
• South Korea's presidential policy chief Kim Yong-bum said Korean conglomerates and global technology firms, including NVIDIA, have agreed to cooperation projects worth $950 billion.
• The package includes a long-term agreement under which SK Group will supply $750 billion worth of high-performance semiconductors to global technology companies, including NVIDIA.
• The partnership is aimed at strengthening the global AI infrastructure and semiconductor supply chain, supporting rising demand for advanced AI chips.
• The announcement follows expanding collaboration between NVIDIA and SK Group on next-generation AI infrastructure and memory technologies.
$NVDA $SKHY
• South Korea's presidential policy chief Kim Yong-bum said Korean conglomerates and global technology firms, including NVIDIA, have agreed to cooperation projects worth $950 billion.
• The package includes a long-term agreement under which SK Group will supply $750 billion worth of high-performance semiconductors to global technology companies, including NVIDIA.
• The partnership is aimed at strengthening the global AI infrastructure and semiconductor supply chain, supporting rising demand for advanced AI chips.
• The announcement follows expanding collaboration between NVIDIA and SK Group on next-generation AI infrastructure and memory technologies.
$NVDA $SKHY
🚨 BREAKING: NVIDIA, SK Group Launch $500 Billion AI Partnership
• NVIDIA said it will partner with SK Group on an AI program worth more than $500 billion to build large-scale AI data centers and develop next-generation memory.
• The agreement includes a long-term partnership with SK Hynix to secure next-generation memory supply and jointly develop high-bandwidth memory (HBM) for AI training, AI agents, and physical AI applications.
• SK Telecom plans to build a 2 GW AI data center powered by NVIDIA's Vera Rubin chips and SK Hynix's HBM4 memory.
• The first AI data center is expected to come online in 2027, marking one of the largest AI infrastructure collaborations announced to date.
• NVIDIA said it will partner with SK Group on an AI program worth more than $500 billion to build large-scale AI data centers and develop next-generation memory.
• The agreement includes a long-term partnership with SK Hynix to secure next-generation memory supply and jointly develop high-bandwidth memory (HBM) for AI training, AI agents, and physical AI applications.
• SK Telecom plans to build a 2 GW AI data center powered by NVIDIA's Vera Rubin chips and SK Hynix's HBM4 memory.
• The first AI data center is expected to come online in 2027, marking one of the largest AI infrastructure collaborations announced to date.
Trump Threatens EU Tariffs, Launches Section 301 Probe
• President Trump said the European Union has been directly targeting U.S. companies and vowed his administration will not tolerate it.
• Trump announced the U.S. will immediately launch a Section 301 investigation into what he described as EU actions that "plunder" American firms and harm U.S. taxpayers.
• He said EU penalties on U.S. companies will be fully reversed and warned the U.S. expects to impose large tariffs on the European Union at the earliest opportunity.
• President Trump said the European Union has been directly targeting U.S. companies and vowed his administration will not tolerate it.
• Trump announced the U.S. will immediately launch a Section 301 investigation into what he described as EU actions that "plunder" American firms and harm U.S. taxpayers.
• He said EU penalties on U.S. companies will be fully reversed and warned the U.S. expects to impose large tariffs on the European Union at the earliest opportunity.
Trump warns China and Russia against providing weapons to Iran, says "it would be very bad for them."
🚨 BREAKING: IRGC Claims Strike on Amazon Data Centre in Bahrain
• Iran's Revolutionary Guards (IRGC) claimed they targeted an Amazon data centre in Bahrain, alleging it supported U.S. military intelligence operations.
• In a statement carried by Iranian state media, the IRGC said the facility was "targeted and destroyed," repeating a claim it had also made on Wednesday.
• Amazon and Bahraini authorities have not commented, and the claim has not been independently verified.
• Iran continues to state that any facility or base used by the U.S. military for operations against Iran is considered a legitimate target for retaliation.
• Iran's Revolutionary Guards (IRGC) claimed they targeted an Amazon data centre in Bahrain, alleging it supported U.S. military intelligence operations.
• In a statement carried by Iranian state media, the IRGC said the facility was "targeted and destroyed," repeating a claim it had also made on Wednesday.
• Amazon and Bahraini authorities have not commented, and the claim has not been independently verified.
• Iran continues to state that any facility or base used by the U.S. military for operations against Iran is considered a legitimate target for retaliation.
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