#USMarketUpdate
Wall Street ends higher as Amazon soothes AI jitters | Reuters
SUMMARY
Amazon jumps as AWS growth soothes fears over rising AI spendingApple slides as supply snags cloud outlookS&P 500 quarterly earnings expected to jump 48%S&P 500 +0.70%, Nasdaq +1%, Dow +0.53%
July 31 (Reuters) - Wall Street ended higher on Friday, lifted by Amazon as the tech heavyweight's strong quarterly report bolstered investor confidence in AI-related stocks, while Apple dropped after its results disappointed investors.
Amazon.com (AMZN.O), opens new tab surged over 15% after posting its biggest quarterly revenue growth in over four years. Its results, along with a similar report from Microsoft (MSFT.O), opens new tab on Wednesday, alleviated investor concerns about potential overspending on AI data centers.
Worries that heavy investments in AI infrastructure may be taking too long to pay off rattled global markets this month and led to doubts about companies at the center of Wall Street's rally in recent years.
The PHLX chip index (.SOX), opens new tab edged up 0.07%, and it remains down over 20% from its June 22 record high close.
Apple (AAPL.O), opens new tab tumbled 7.4% after warning that supply constraints would hurt growth, adding to worries that recent iPhone price hikes would weaken consumer demand.
Apple's slump kept the S&P 500 technology index (.SPLRCT), opens new tab down 0.54%, despite gains in other tech stocks.
Microsoft rose 3%, adding to gains after surging over 15% on Thursday in its biggest one-day percentage gain since 2008 after it forecast stronger-than-expected cloud growth.
Monolithic Power Systems (MPWR.O), opens new tab rose over 8% after forecasting third-quarter revenue above estimates.
The S&P 500 climbed 0.70% to end the session at 7,489.72 points. Even as the S&P 500 rose, declining stocks outnumbered rising ones (.AD.SPX), opens new tab by a 1.3-to-one ratio.
The Nasdaq gained 1% to 25,373.85 points, while the Dow Jones Industrial Average rose 0.53% to 52,485.03 points.
Volume on U.S. exchanges was heavy, with 20.6 billion shares traded, compared to an average of 17.1 billion shares over the previous 20 sessions.
For the week, the S&P 500 rose 1.05% and the Nasdaq added 1.59%.
The S&P 500 ended July about flat from June, while the Nasdaq fell 3.2%. Both indexes are up about 9% in 2026.
Analysts on average expect S&P 500 aggregate second-quarter earnings to soar 48% from a year ago, with AI-related stocks accounting for much of that growth, according to LSEG I/B/E/S.
Strong earnings forecasts and a recent decline in share prices have left the S&P 500 trading at about 20 times expected earnings, just above its 10-year average of 19 times, according to LSEG data.
The S&P 500 equal-weighted index (.EWGSPC), opens new tab logged its fourth straight month of gains, thanks to its limited exposure to heavyweight AI-related stocks that have underperformed for much of that time.
Three Federal Reserve officials who dissented at the Fed's policy meeting this week in favor of an interest rate hike called on Friday for immediate action to bring inflation down to the U.S. central bank's 2% target.
The 2-year U.S. Treasury yield, which typically moves in step with interest rate expectations for the Fed, rose 5.4 basis points to 4.28% but is down slightly for the week.
Markets are pricing in a 65% chance of a rate hike at the Fed's September meeting, according to CME FedWatch, opens new tab, down from 82% a week ago but up slightly from 63% on Thursday.
https://www.reuters.com/business/nasdaq-100-leads-us-futures-higher-amazon-surge-offsets-apple-decline-2026-07-31/
Wall Street ends higher as Amazon soothes AI jitters
https://www.straitstimes.com/business/companies-markets/wall-street-ends-higher-as-amazon-soothes-ai-jitters
Wall Street ends higher as Amazon soothes AI jitters | Reuters
SUMMARY
Amazon jumps as AWS growth soothes fears over rising AI spendingApple slides as supply snags cloud outlookS&P 500 quarterly earnings expected to jump 48%S&P 500 +0.70%, Nasdaq +1%, Dow +0.53%
July 31 (Reuters) - Wall Street ended higher on Friday, lifted by Amazon as the tech heavyweight's strong quarterly report bolstered investor confidence in AI-related stocks, while Apple dropped after its results disappointed investors.
Amazon.com (AMZN.O), opens new tab surged over 15% after posting its biggest quarterly revenue growth in over four years. Its results, along with a similar report from Microsoft (MSFT.O), opens new tab on Wednesday, alleviated investor concerns about potential overspending on AI data centers.
Worries that heavy investments in AI infrastructure may be taking too long to pay off rattled global markets this month and led to doubts about companies at the center of Wall Street's rally in recent years.
The PHLX chip index (.SOX), opens new tab edged up 0.07%, and it remains down over 20% from its June 22 record high close.
Apple (AAPL.O), opens new tab tumbled 7.4% after warning that supply constraints would hurt growth, adding to worries that recent iPhone price hikes would weaken consumer demand.
Apple's slump kept the S&P 500 technology index (.SPLRCT), opens new tab down 0.54%, despite gains in other tech stocks.
Microsoft rose 3%, adding to gains after surging over 15% on Thursday in its biggest one-day percentage gain since 2008 after it forecast stronger-than-expected cloud growth.
Monolithic Power Systems (MPWR.O), opens new tab rose over 8% after forecasting third-quarter revenue above estimates.
The S&P 500 climbed 0.70% to end the session at 7,489.72 points. Even as the S&P 500 rose, declining stocks outnumbered rising ones (.AD.SPX), opens new tab by a 1.3-to-one ratio.
The Nasdaq gained 1% to 25,373.85 points, while the Dow Jones Industrial Average rose 0.53% to 52,485.03 points.
Volume on U.S. exchanges was heavy, with 20.6 billion shares traded, compared to an average of 17.1 billion shares over the previous 20 sessions.
For the week, the S&P 500 rose 1.05% and the Nasdaq added 1.59%.
The S&P 500 ended July about flat from June, while the Nasdaq fell 3.2%. Both indexes are up about 9% in 2026.
Analysts on average expect S&P 500 aggregate second-quarter earnings to soar 48% from a year ago, with AI-related stocks accounting for much of that growth, according to LSEG I/B/E/S.
Strong earnings forecasts and a recent decline in share prices have left the S&P 500 trading at about 20 times expected earnings, just above its 10-year average of 19 times, according to LSEG data.
The S&P 500 equal-weighted index (.EWGSPC), opens new tab logged its fourth straight month of gains, thanks to its limited exposure to heavyweight AI-related stocks that have underperformed for much of that time.
Three Federal Reserve officials who dissented at the Fed's policy meeting this week in favor of an interest rate hike called on Friday for immediate action to bring inflation down to the U.S. central bank's 2% target.
The 2-year U.S. Treasury yield, which typically moves in step with interest rate expectations for the Fed, rose 5.4 basis points to 4.28% but is down slightly for the week.
Markets are pricing in a 65% chance of a rate hike at the Fed's September meeting, according to CME FedWatch, opens new tab, down from 82% a week ago but up slightly from 63% on Thursday.
https://www.reuters.com/business/nasdaq-100-leads-us-futures-higher-amazon-surge-offsets-apple-decline-2026-07-31/
Wall Street ends higher as Amazon soothes AI jitters
https://www.straitstimes.com/business/companies-markets/wall-street-ends-higher-as-amazon-soothes-ai-jitters
While You Were Sleeping: 5 stories you might have missed, Aug 1, 2026
https://www.straitstimes.com/world/while-you-were-sleeping-5-stories-you-might-have-missed-aug-1-2026
https://www.straitstimes.com/world/while-you-were-sleeping-5-stories-you-might-have-missed-aug-1-2026
The Straits Times
While You Were Sleeping: 5 stories you might have missed, Aug 1, 2026
While You Were Sleeping: 5 stories you might have missed, Aug 1, 2026. Read more at straitstimes.com. Read more at straitstimes.com.
As traffic in Strait of Hormuz drops, Trump says he doesn't know when US can loosen Iran's grip
https://finance.yahoo.com/markets/article/as-traffic-in-strait-of-hormuz-drops-trump-says-he-doesnt-know-when-us-can-loosen-irans-grip-195408059.html
https://finance.yahoo.com/markets/article/as-traffic-in-strait-of-hormuz-drops-trump-says-he-doesnt-know-when-us-can-loosen-irans-grip-195408059.html
Yahoo Finance
As traffic in Strait of Hormuz drops, Trump says he doesn't know when US can loosen Iran's grip
Traffic in the Strait of Hormuz reached new lows on Friday as President Trump suggested that the path to ending the war and reopening the all-but-closed waterway could be weeks away.
Did Apple just signal a bottom in momentum-driven memory chip stocks?
https://finance.yahoo.com/markets/article/did-apple-just-signal-a-bottom-in-momentum-driven-memory-chip-stocks-184019981.html
https://finance.yahoo.com/markets/article/did-apple-just-signal-a-bottom-in-momentum-driven-memory-chip-stocks-184019981.html
Yahoo Finance
Did Apple just signal a bottom in momentum-driven memory chip stocks?
LPL Financial strategist Adam Turnquist noted investors could argue that Apple's comments on memory chip prices mean the chip stock sell-off is overdone.
SpaceX sinks to new low ahead of earnings
https://finance.yahoo.com/markets/stocks/article/spacex-stock-hits-new-closing-low-in-rocky-week-ahead-of-earnings-134523324.html
https://finance.yahoo.com/markets/stocks/article/spacex-stock-hits-new-closing-low-in-rocky-week-ahead-of-earnings-134523324.html
Yahoo Finance
SpaceX stock hits new closing low in rocky week ahead of earnings
SpaceX stock whipsawed through a volatile week, swinging from an all-time low to a sharp rebound and closing at a new low, as investors braced for the newly public company's first earnings report and a major share unlock.
While You Were Sleeping: 5 stories you might have missed, Aug 2, 2026
https://www.straitstimes.com/world/while-you-were-sleeping-5-stories-you-might-have-missed-aug-2-2026
https://www.straitstimes.com/world/while-you-were-sleeping-5-stories-you-might-have-missed-aug-2-2026
The Straits Times
While You Were Sleeping: 5 stories you might have missed, Aug 2, 2026
While You Were Sleeping: 5 stories you might have missed, Aug 2, 2026. Read more at straitstimes.com. Read more at straitstimes.com.
America's Closest Allies Are Building a Future Without It #JayMartin from The Jay Martin Show.
Last week the White House imposed 50% tariffs on most Canadian goods, invoking a 1930 law no president had ever used, and the Toronto Stock Exchange promptly had its best day in a month — and Jay argues the shrug is the story, not the tariff. In this episode, Jay traces that reaction back 2,500 years to a Greek alliance where every city had to choose between building its own warships or sending silver and letting Athens build the fleet, shows why almost all of them chose silver and what it cost them, and follows the same four-stage cycle through Europe's Russian gas trap to the studies now under way in European capitals asking whether their own weapons would work without America's permission. This is a look at what happens to a country that stops knowing how to build its own ships, and how to tell over the next year which allies are actually building and which ones are only announcing.
00:00 — A 50% Tariff, and the Market Shrugged
00:53 — The Meetings Nobody Was Supposed to See
01:19 — The Pattern Behind the Headline
01:40 — 478 BC: A Choice Between Ships and Silver
03:01 — Thucydides: They Forgot How to Fight
03:26 — Naxos Tries to Leave
04:17 — From Defense Budget to Decoration Budget
05:03 — The Cycle, Stage One: Efficiency
05:28 — Stage Two: Dependency
05:52 — Stage Three: Weaponization
06:34 — Stage Four: The Exit Has an Expiry Date
07:20 — Europe's Meeting Rooms
07:48 — The Midnight Session in Brussels
08:44 — What That Agenda Item Admits
09:08 — Why "Trump Did This" Misses It
10:02 — Europe Already Ran This Cycle: Russian Gas
11:01 — Forty Percent of Europe's Pipeline Gas
12:00 — The Bill Comes Due
12:24 — Escaped the Trap, or Changed Suppliers?
13:28 — Do Europe's Weapons Work Without Permission?
14:15 — Carney's Audit and the Davos Speech
15:39 — The Peace Dividend Comes Due
16:33 — What Building Actually Looks Like
17:04 — Europe's Own 290 Satellites
17:34 — Why Leverage Depreciates
18:45 — Back to the 50% Tariff
19:41 — What the Exemptions Admit
20:54 — Canada's Own Dependency
21:49 — Can We Still Afford to Build Ships?
22:34 — Announcements Are Not Steel in the Ground
23:49 — What This Means for Commodities
https://youtu.be/prcGaj5xUlY?is=PM7C6z6YWnVE1_7H
Last week the White House imposed 50% tariffs on most Canadian goods, invoking a 1930 law no president had ever used, and the Toronto Stock Exchange promptly had its best day in a month — and Jay argues the shrug is the story, not the tariff. In this episode, Jay traces that reaction back 2,500 years to a Greek alliance where every city had to choose between building its own warships or sending silver and letting Athens build the fleet, shows why almost all of them chose silver and what it cost them, and follows the same four-stage cycle through Europe's Russian gas trap to the studies now under way in European capitals asking whether their own weapons would work without America's permission. This is a look at what happens to a country that stops knowing how to build its own ships, and how to tell over the next year which allies are actually building and which ones are only announcing.
00:00 — A 50% Tariff, and the Market Shrugged
00:53 — The Meetings Nobody Was Supposed to See
01:19 — The Pattern Behind the Headline
01:40 — 478 BC: A Choice Between Ships and Silver
03:01 — Thucydides: They Forgot How to Fight
03:26 — Naxos Tries to Leave
04:17 — From Defense Budget to Decoration Budget
05:03 — The Cycle, Stage One: Efficiency
05:28 — Stage Two: Dependency
05:52 — Stage Three: Weaponization
06:34 — Stage Four: The Exit Has an Expiry Date
07:20 — Europe's Meeting Rooms
07:48 — The Midnight Session in Brussels
08:44 — What That Agenda Item Admits
09:08 — Why "Trump Did This" Misses It
10:02 — Europe Already Ran This Cycle: Russian Gas
11:01 — Forty Percent of Europe's Pipeline Gas
12:00 — The Bill Comes Due
12:24 — Escaped the Trap, or Changed Suppliers?
13:28 — Do Europe's Weapons Work Without Permission?
14:15 — Carney's Audit and the Davos Speech
15:39 — The Peace Dividend Comes Due
16:33 — What Building Actually Looks Like
17:04 — Europe's Own 290 Satellites
17:34 — Why Leverage Depreciates
18:45 — Back to the 50% Tariff
19:41 — What the Exemptions Admit
20:54 — Canada's Own Dependency
21:49 — Can We Still Afford to Build Ships?
22:34 — Announcements Are Not Steel in the Ground
23:49 — What This Means for Commodities
https://youtu.be/prcGaj5xUlY?is=PM7C6z6YWnVE1_7H
YouTube
America's Closest Allies Are Building a Future Without It
Last week the White House imposed 50% tariffs on most Canadian goods, invoking a 1930 law no president had ever used, and the Toronto Stock Exchange promptly had its best day in a month — and Jay argues the shrug is the story, not the tariff. In this episode…
Smart Reads of the Week: Singapore Dividend Stocks, Retirement REITs, and Long-Term Investing Ideas
https://thesmartinvestor.com.sg/smart-reads-of-the-week-singapore-dividend-stocks-retirement-reits-and-long-term-investing-ideas/
https://thesmartinvestor.com.sg/smart-reads-of-the-week-singapore-dividend-stocks-retirement-reits-and-long-term-investing-ideas/
The Smart Investor
Smart Reads of the Week: Singapore Dividend Stocks, Retirement REITs, and Long-Term Investing Ideas
Explore Singapore dividend stocks, retirement REITs, blue-chip investing, Keppel, Sembcorp, Sheng Siong, Venture, and sustainable income ideas in this week's Smart Reads.
Seatrium eyes growing LNG demand as Iran war reshapes global energy flows
https://www.straitstimes.com/business/companies-markets/seatrium-eyes-growing-lng-demand-as-iran-war-reshapes-global-energy-flows
https://www.straitstimes.com/business/companies-markets/seatrium-eyes-growing-lng-demand-as-iran-war-reshapes-global-energy-flows
The Straits Times
Seatrium eyes growing LNG demand as Iran war reshapes global energy flows
Discover how Seatrium is capitalising on escalating LNG demand driven by global energy security concerns and geopolitical shifts. Read more at straitstimes.com. Read more at straitstimes.com.
BYD’s July sales rise on strong exports, but meeting its annual target remains a challenge
https://www.businesstimes.com.sg/companies-markets/byds-july-sales-rise-strong-exports-meeting-its-annual-target-remains-challenge
https://www.businesstimes.com.sg/companies-markets/byds-july-sales-rise-strong-exports-meeting-its-annual-target-remains-challenge
The Business Times
BYD’s July sales rise on strong exports, but meeting its annual target remains a challenge
The company needs to sell an average about 530,000 cars a month for the rest of 2026 to touch its goal Read more at The Business Times.
With higher than usual FX volatility, how do investors manage currency risk in portfolios?
https://www.businesstimes.com.sg/wealth/wealth-investing/higher-usual-fx-volatility-how-do-investors-manage-currency-risk-portfolios
https://www.businesstimes.com.sg/wealth/wealth-investing/higher-usual-fx-volatility-how-do-investors-manage-currency-risk-portfolios
The Business Times
With higher-than-usual FX volatility, how do investors manage currency risk in portfolios?
Experts weigh in on which currencies will stay resilient and which are volatile Read more at The Business Times.
Spider-Man: Brand New Day heads for US$875 million global opening, defying superhero slump
https://www.businesstimes.com.sg/lifestyle/spider-man-brand-new-day-heads-us875-million-global-opening-defying-superhero-slump
https://www.businesstimes.com.sg/lifestyle/spider-man-brand-new-day-heads-us875-million-global-opening-defying-superhero-slump
The Business Times
Spider-Man: Brand New Day heads for US$875 million global opening, defying superhero slump
The movie arrived to widespread acclaim, something that has become rare for superhero sequels Read more at The Business Times.
Trump says US will hold off on Iran attack in hopes of quick deal on nuclear threat, Hormuz
https://www.businesstimes.com.sg/international/global/trump-says-us-will-hold-iran-attack-hopes-quick-deal-nuclear-threat-hormuz
https://www.businesstimes.com.sg/international/global/trump-says-us-will-hold-iran-attack-hopes-quick-deal-nuclear-threat-hormuz
The Business Times
Trump says US will hold off on Iran attack in hopes of quick deal on nuclear threat, Hormuz
There were reports of two maritime incidents off Oman, including one in which a tanker was struck by an unknown projectile Read more at The Business Times.
‘Buy Japanese Yen (JPY) $5-10 bil’: Bessent joins US-Japan bid to lift yen
https://www.businesstimes.com.sg/international/global/buy-japanese-yen-jpy-5-10-bil-us-treasury-secretary-bessent-joins-us-japan-bid-lift-yen
https://www.businesstimes.com.sg/international/global/buy-japanese-yen-jpy-5-10-bil-us-treasury-secretary-bessent-joins-us-japan-bid-lift-yen
The Business Times
‘Buy Japanese Yen (JPY) $5-10 bil’: US Treasury Secretary Bessent joins US-Japan bid to lift yen
The more that the yen’s depreciation gives Japan an advantage in trade with the US, the more it is likely to irk Trump Read more at The Business Times.
Yen surges to lower 157 versus US dollar, Japan authorities step in
https://www.businesstimes.com.sg/companies-markets/yen-surges-lower-157-versus-us-dollar-japan-authorities-step
https://www.businesstimes.com.sg/companies-markets/yen-surges-lower-157-versus-us-dollar-japan-authorities-step
The Business Times
Yen surges to lower 157 versus US dollar, Japan authorities step in
standfirst Read more at The Business Times.
Treasury sell-off signals need to bolster Fed’s inflation credibility: Musalem
https://www.businesstimes.com.sg/international/treasury-sell-signals-need-bolster-feds-inflation-credibility-musalem
https://www.businesstimes.com.sg/international/treasury-sell-signals-need-bolster-feds-inflation-credibility-musalem
The Business Times
Treasury sell-off signals need to bolster Fed’s inflation credibility: Musalem
He has “expressed a preference” towards a quarter-percentage-point interest rate increase Read more at The Business Times.
Oil prices settle more than 1% higher, log strongest month since March
https://www.businesstimes.com.sg/companies-markets/oil-prices-settle-more-1-higher-log-strongest-month-march
https://www.businesstimes.com.sg/companies-markets/oil-prices-settle-more-1-higher-log-strongest-month-march
The Business Times
Oil prices settle more than 1% higher, log strongest month since March
Brent futures settle 1.2% higher at US$90.12 a barrel, while US West Texas Intermediate futures close up 1.3% at US$84.67 a barrel Read more at The Business Times.
US Treasury yield curve 'twist' reflects view Fed may not hike again
SUMMARY
'Twist' suggests markets see lower odds of additional Fed hikesLong-end selloff points to inflation, credibility concernsJuly jobs report seen as next yield curve key test
NEW YORK, July 31 (Reuters) - A sharp shift towards a steeper U.S. Treasury bond curve following the Federal Reserve's decision to leave interest rates unchanged this week has raised concerns about the central bank's credibility and willingness to fully confront inflation.
The drop in front-end yields, even as those on longer tenors climbed, suggests growing skepticism the Fed will raise rates again, analysts said, despite Chair Kevin Warsh's insistence on Wednesday that policymakers "will not hesitate to act" if price pressures fail to ease.
https://www.reuters.com/business/us-treasury-yield-curve-twist-reflects-view-fed-may-not-hike-again-2026-07-31/
SUMMARY
'Twist' suggests markets see lower odds of additional Fed hikesLong-end selloff points to inflation, credibility concernsJuly jobs report seen as next yield curve key test
NEW YORK, July 31 (Reuters) - A sharp shift towards a steeper U.S. Treasury bond curve following the Federal Reserve's decision to leave interest rates unchanged this week has raised concerns about the central bank's credibility and willingness to fully confront inflation.
The drop in front-end yields, even as those on longer tenors climbed, suggests growing skepticism the Fed will raise rates again, analysts said, despite Chair Kevin Warsh's insistence on Wednesday that policymakers "will not hesitate to act" if price pressures fail to ease.
https://www.reuters.com/business/us-treasury-yield-curve-twist-reflects-view-fed-may-not-hike-again-2026-07-31/
#FundFlow
U.S. equity funds attract first weekly inflow in three weeks
July 31 (Reuters) - U.S. equity funds drew inflows in the week to July 29, snapping a two-week streak of outflows, as investors added exposure to mega-cap technology funds during a recent selloff on bets that the market rally could continue.
Investors bought a net $11.83 billion in U.S. equity funds, more than reversing the combined $10.68 billion in outflows recorded over the previous two weeks, according to LSEG Lipper data...
Investors bought a net $11.57 billion in U.S. large-cap funds, marking their largest weekly net purchase since June 24. Mid-cap and small-cap funds, however, saw outflows of $2.29 billion and $196 million, respectively.
Technology-sector funds attracted $4.9 billion, their largest weekly inflow since July 8. Financials and consumer staples also recorded net purchases of $1.96 billion and $751 million, respectively...
https://www.reuters.com/business/us-equity-funds-attract-first-weekly-inflow-three-weeks-2026-07-31/
U.S. equity funds attract first weekly inflow in three weeks
July 31 (Reuters) - U.S. equity funds drew inflows in the week to July 29, snapping a two-week streak of outflows, as investors added exposure to mega-cap technology funds during a recent selloff on bets that the market rally could continue.
Investors bought a net $11.83 billion in U.S. equity funds, more than reversing the combined $10.68 billion in outflows recorded over the previous two weeks, according to LSEG Lipper data...
Investors bought a net $11.57 billion in U.S. large-cap funds, marking their largest weekly net purchase since June 24. Mid-cap and small-cap funds, however, saw outflows of $2.29 billion and $196 million, respectively.
Technology-sector funds attracted $4.9 billion, their largest weekly inflow since July 8. Financials and consumer staples also recorded net purchases of $1.96 billion and $751 million, respectively...
https://www.reuters.com/business/us-equity-funds-attract-first-weekly-inflow-three-weeks-2026-07-31/