🌎 Ray Dalio warns that while artificial intelligence will transform the world, stocks of AI companies could plummet by 80%. He highlights the potential volatility in the market as AI technologies evolve. Investors should remain cautious and consider the implications of such dramatic shifts in stock values. For more information, visit here.
🚨 The U.S. Senate has 72 hours left to vote on the CLARITY Act, a bill aimed at establishing a framework for the cryptocurrency market, before Congress goes on summer recess.
🚨 The Bitcoin (BTC) hash rate has been declining for 287 consecutive days, marking the longest miner capitulation in history. Mining difficulty has dropped nearly 20% from its historical peak, representing the third-largest decrease ever. Despite this, miner stocks are on the rise. Experts attribute this divergence to miners increasingly focusing on artificial intelligence (AI) rather than cryptocurrency mining. The CEO of the largest U.S. public miner, MARA, noted that the AI business has begun generating significantly more revenue than cryptocurrency mining.
🚨 India has reported its Manufacturing PMI for July at 53.5, a decline from the previous figure of 54.2. This indicates a slowdown in manufacturing activity in the country.
🛢️ OPEC+ has officially concluded its gradual phase-out of voluntary production cuts totaling 1.65 million barrels per day. According to RTRS sources, production quotas are unlikely to increase in the remaining months of 2026. This suggests that after September, the alliance is expected to halt any rise in output until the end of the year.
⚠️🇷🇺 Russians are increasingly refraining from making large purchases, according to a report by Izvestia. In Moscow, 2,300 retail outlets have closed over the past year, as noted by Kommersant. The activity in the commercial real estate market is also declining, driven by high credit costs, as reported by Vedomosti.
✨ Betting and prediction platforms Polymarket and Kalshi reported record trading volumes in July.
🔔 Russia's Manufacturing PMI for July has risen to 50.7, up from the previous 50.3, indicating continued growth in the country's industrial sector.
🚫🛢🇪🇺 European underground gas storage levels for June and July have drastically declined compared to last year, raising concerns over reliable gas supply during colder months, according to Gazprom. July saw the lowest gas injection into Europe’s storage facilities in six years, with reserves approaching historical lows, as reported by TASS.
🇮🇳🇷🇺 Russia has emerged as one of the most promising markets for Indian exports, according to the Federation of Indian Exporters, as reported by TASS.
🚗 BYD reported a total of 419,211 vehicle deliveries in July, marking a 21.8% year-on-year increase, with exports surging by 124%. Xpeng delivered 38,027 vehicles, up 3.6%, while Li Auto saw a slight decline with 30,468 units sold, down 1%. NIO achieved a remarkable 71% growth, delivering 35,934 vehicles. Zeekr reported a 111% rise with 35,837 units. Xiaomi also surpassed 30,000 deliveries, though details remain sparse. Geely delivered 250,161 vehicles, up 5.2%, and Chery became the first Chinese automaker to export over 200,000 vehicles in a month. Leapmotor exceeded 100,000 monthly deliveries for the first time. Data sourced from CPCA.
📉 Switzerland's Consumer Price Index (CPI) for July shows a month-over-month decline of 0.1%, matching expectations, while year-over-year inflation rose by 0.4%, slightly below the anticipated 0.5%. This marks the lowest inflation rate in four months for Switzerland.
🇪🇺🇷🇺 El Pais reports that the European Union is finding it increasingly challenging to identify new targets for sanctions against Russia.
⚠️✴️ Galaxy Research reports that the fourth wave of hacker attacks has begun targeting the Coldcard wallet.