International Market Recap from Last Week
Closing on August 8: The S&P 500 set a new record high, with all three major indices posting substantial gains for the week.
Top 20 U.S. Stock Volume on August 8: SpaceX to Build Its Own Power Plant to Ensure Electricity Supply.
Most Chinese ADRs Rose on August 8: XPeng Inc. surged 3.72%, while Silicon Motion Technology Corp. fell 4.23%.
Commodities Roundup: Oil prices held steady, copper prices dipped slightly, and gold prices rallied sharply.
European stocks advanced for a fourth consecutive week, buoyed by strong earnings and merger expectations, pushing indices to new highs.
Macroeconomic Highlights
S&P 500 futures traded sideways as markets awaited a potential agreement on the Strait of Hormuz and upcoming inflation data.
Former President Donald Trump stated he is taking a "low-key" approach to handling the Iran situation.
Reports indicate that Israeli Prime Minister Benjamin Netanyahu initially agreed to a partial troop withdrawal from Gaza but has since reversed his stance.
Iran has appointed Ali Rezaei as the new secretary of the Supreme National Security Council.
NORAD scrambled F-16 fighter jets to intercept two aircraft near Trump's golf club.
Corporate Developments
A financial technology firm linked to the Trump family, AI Financial, is selling its Canadian subsidiary.
OpenAI has paused development on parts of its next-generation AI model due to cybersecurity concerns.
Mercedes-Benz AMG models face a class-action lawsuit in the U.S. over a defect where the metal seat badge can cause burns from overheating.
Amazon is planning to build a large natural gas power plant in Texas to support its data centers, sparking environmental concerns over energy consumption and carbon emissions.
A separate Amazon data center project in Texas is projected to become the largest single source of carbon emissions in the U.S.
A fire at Saudi Aramco's Jazan refinery was quickly extinguished, with no reported injuries.
A Delta Air Lines flight made an emergency landing in Atlanta after smoke filled the cockpit.
Samsung's Texas chip plant is nearing production, with the company officially launching its first batch of intern recruitment.
Commentary & Analysis
Cathie Wood (Wood) argues that recent employment data does not signal a recession, and that AI is driving the U.S. economy into a new phase of deflation and high productivity.
Treasury Secretary Scott Bessent's multiple interventions in the bond market are fueling Wall Street's anxiety over a potential "Sell America" sentiment.
After the cooling of non-farm payroll data, how is the "hawkish risk" priced into U.S. stocks being re-evaluated?
Turkey, Pakistan, and Saudi Arabia have signed the Makkah Mutual Defense Agreement.
A U.S. media report claims the Deputy Secretary of Defense sent a letter to defense industry leaders demanding a production increase plan within 21 days; the Pentagon has responded.
Trump is refusing to accept the Supreme Court's final ruling, restarting two major debates after losing the case, and is seeking a justice's support for a banquet hall project.
SpaceX's stock price has experienced extreme volatility, with swings exceeding $300 billion, as Elon Musk returns to a "hardcore" work mode.
In South Korea, the clearing of leveraged positions in the stock market is easing, leading to a moderation in the recent spike in volatility.
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