BIG DAY TODAY: @INFINITYHEDGE

<US Retail Sales>
Consensus:
Retail sales: 0.5% vs 0.6% Prev.
ex-autos: 0.3% vs 0.5%
Core: 0.4% vs 0.5%

BofA:
Retail sales: 0.8%
Core: 0.6%

GS:
Retail sales: 0.5%
Core: 0.4%

*UMich Consumer Sentiment
*SEC Chair to discuss Project Crypto (8:30 AM)
*Sharplink Gaming earnings
*World's first humanoid robot sporting event started in China

<Trump-Putin Summit> 3:30PM ET
Possible Outcomes:
*Talks break down: 10%
*Ceasefire deal but Ukraine unlikely to accept: 32%
*Status quo remains: 41%
*Ceasefire deal, follow-up meeting with Ukraine: 15%
*Framework for a peace deal: 2%

2Q 13F Filings: <INFINITYHEDGE>
*Hedge fund holdings of Microsoft grew by $12B to $47B in the three months ending June 30.
*Meta was cut/reduced by 147 investors (biggest); Amazon was increased/bought by 177 investors (biggest).
*Saudi wealth fund sold its stakes in Meta, Shopify, Alibaba and PayPal. *Bridgewater exited all US-listed China stocks
*Warren Buffett’s Berkshire, Renaissance Technologies, Burry, David Tepper & many other bought shares of UnitedHealth Group.
*Berkshire sold 20M shares of Apple.

ICYMI: </INFINITYHEDGE/>
*China’s economy slowed across the board in July
*Goldman Sachs estimates that consumers absorbed just 22% of tariff costs through June, but it could rise to 67% and US businesses will absorb less than 10%.
*Cardboard box sales fell to the lowest Q2 reading since 2015. Companies don’t yet know how the tariffs will affect costs & long-term demand for their finished products, and they’re not stocking up on bulky packaging.
*Terraform co-founder Do Kwon pleads guilty to wire fraud & conspiracy to defraud.
*Justin Sun hold more than 60B TRX tokens out of the total supply of 94.6B. Sun also owns 90% stake in HTX crypto exchange.