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> WALL STREET POSTS BEST QUARTER SINCE 2020

U.S. STOCKS ARE SET TO CLOSE THEIR STRONGEST QUARTER IN YEARS.

THE S&P 500 HAS GAINED 14% AND THE NASDAQ HAS SURGED 20%—BOTH ON TRACK FOR THEIR BEST QUARTERLY PERFORMANCE SINCE 2020.

THE DOW HAS ALSO CLIMBED 13%, MARKING ITS STRONGEST QUARTER SINCE LATE 2022.

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> QATAR SAYS US, IRAN 'TECHNICAL MEETINGS' HAVE NOT STOPPED

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> LARGEST US REGIONAL GRID PJM TO BREAK ALL-TIME SUMMER ENERGY DEMAND RECORD OF 166 GIGAWATTS ON JULY 2 - PJM FORECAST DATA

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> *SK HYNIX SAID TO FILE FOR NASDAQ LISTING

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> SK HYNIX FILES FOR A NASDAQ IPO TARGETING UP TO $29.6B

THE COMPANY PLANS TO USE THE PROCEEDS TO EXPAND CHIP PRODUCTION IN SOUTH KOREA AND BUY EUV LITHOGRAPHY EQUIPMENT FOR ADVANCED SEMICONDUCTOR MANUFACTURING.

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> GOLD SET FOR WORST QUARTER SINCE 2013

GOLD IS ON TRACK FOR A 13% QUARTERLY LOSS, ITS BIGGEST DECLINE IN 13 YEARS.

THE SELLOFF IS DRIVEN BY EXPECTATIONS OF HIGHER U.S. INTEREST RATES, WITH MARKETS PRICING IN MULTIPLE FEDERAL RESERVE RATE HIKES THIS YEAR.

ANALYSTS SAY A STRONGER DOLLAR, EASING ENERGY PRICES AND HIGHER-FOR-LONGER RATES ARE LIKELY TO KEEP PRESSURE ON GOLD.

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> - IRAN'S BAGHAEI SAYS DIALOGUE WITH MEDIATOR QATAR ON IMPLEMENTATION OF INTERIM DEAL WITH U.S., INCLUDING RELEASE OF FROZEN ASSETS, LIKELY TO BE ON WEDNESDAY IN DOHA

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> IRAN'S BAGHAEI TO IAEA'S GROSSI: STOP ISSUING POLITICAL STATEMENTS AND FOCUS ON FULFILLING YOUR PROFESSIONAL DUTIES AS HEAD OF UN NUCLEAR WATCHDOG

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> $AMZN - AMAZON INVESTS IN ONE OF THE WORLD’S LARGEST CARBON REMOVAL PROJECTS, CREATING 11,000 JOBS AND RESTORING NATURE

AMAZON: TO BUY 1.95 MLN TONNES OF HIGH-QUALITY NATURE-BASED CARBON REMOVAL CREDITS GENERATED BY PROJECT

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> IRAN: IAEA ACCESS TO DAMAGED NUCLEAR SITES REMAINS BLOCKED

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> IRAN: 'SERIOUS CHALLENGES' REMAIN IN US IMPLEMENTATION OF MOU

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> GERMAN JUNE PRELIMINARY CPI +2.3% Y/Y (VS F'CAST OF +2.60% Y/Y)- STATISTICS OFFICE
GERMAN JUNE PRELIMINARY CPI -0.3% M/M (VS F'CAST OF 0.00% M/M)- STATISTICS OFFICE

GERMAN JUNE PRELIMINARY HICP +2.4% Y/Y (VS F'CAST OF +2.50% Y/Y)- STATISTICS OFFICE
GERMAN JUNE PRELIMINARY HICP -0.2% M/M (VS F'CAST OF 0.00% M/M)- STATISTICS OFFICE

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> IRAN'S BAGHAEI SAYS INTERIM DEAL CLAUSES NEED TO BE IMPLEMENTED BEFORE TALKS WITH U.S. TO REACH FINAL DEAL CAN START

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> IRAN SAYS ITS OIL, PETROCHEMICAL SALES GREATLY FACILITATED

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> CHIP STOCKS HIT RECORD SHARE OF S&P 500

SEMICONDUCTOR STOCKS NOW MAKE UP A RECORD 19.7% OF THE S&P 500, NEARLY FOUR TIMES THEIR 2020 WEIGHTING, DRIVEN BY THE AI BOOM.

THE SURGE HAS FUELED CONCERNS OVER MARKET CONCENTRATION AND STRETCHED VALUATIONS, THOUGH STRONG ETF INFLOWS CONTINUE TO SUPPORT THE SECTOR.

INVESTORS ARE WATCHING WHETHER AI SPENDING CAN JUSTIFY CURRENT CHIP STOCK PRICES.

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> BESSENT ON GAS PRICES: ENCOURAGE THEM TO BE GOOD ACTORS, WE'RE WATCHING -FOX

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> *ISRAEL UPGRADES IRON DOME MISSILE DEFENSE, INTEGRATES LASER

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> *BESSENT: WOULDN'T BE SURPRISED IF JUNE JOBS ARE 'VERY STRONG'

*BESSENT: HAVEN'T SEEN THE JUNE JOBS FIGURES

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> BITCOIN BEARS EYE $45K

BITCOIN REMAINS UNDER PRESSURE AS HIGHER U.S. RATE EXPECTATIONS WEIGH ON RISK ASSETS AND THE DOLLAR STRENGTHENS. MARKETS ARE ALSO DIGESTING STRATEGY'S POTENTIAL $1.25 BILLION BITCOIN SALE AND THE EU'S MICA LICENSING DEADLINE.

MEANWHILE, KALSHI TRADERS NOW FORECAST BITCOIN COULD FALL TO $45,000 THIS YEAR, HIGHLIGHTING GROWING CAUTION AS THE CRYPTOCURRENCY TRADES NEAR ITS RECENT LOWS.

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> IMF FLAGS AI DEBT AS BIGGER RISK THAN VALUATIONS

THE IMF SAYS AI-RELATED BORROWING POSES A BIGGER FINANCIAL STABILITY RISK THAN HIGH TECH STOCK VALUATIONS.

IMF OFFICIAL TOBIAS ADRIAN WARNED THAT MAJOR TECH FIRMS ARE TAKING ON MORE DEBT TO FUND AI INVESTMENTS, CREATING POTENTIAL RISKS IF PROFITABILITY WEAKENS.

HE ADDED THAT RECENT EARNINGS STRENGTH SUGGESTS CURRENT AI VALUATIONS ARE NOT YET SHOWING CLASSIC BUBBLE CHARACTERISTICS.

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