Despite a sharper-than-expected decline in US CPI, from 4.2% to 3.5%, the US dollar continues to hold firm above the 100 mark while silver resumes its weakness below $60 as geopolitical risks remain elevated.
Market rebounds across major currency pairs, precious metals, and risk assets continue to face headwinds as the implications of the Middle East conflict extend into the second half of the year. Markets are increasingly being influenced by:
Disruptions to global shipping, with higher transit costs, tolls, and restricted access across parts of the Strait of Hormuz. A cautious second-half outlook from corporate management teams despite stronger-than-expected earnings from major US banks, including JPMorgan and Goldman Sachs, as well as AI semiconductor leader ASML. Crude oil rebounding toward the $80 mark. Precious metals returning to critical bearish breakout zones. From an FX perspective, USD/JPY remains one of the most interesting charts. The pair is trading near levels last seen in the 1980s and could be at risk of another steep bullish breakout toward 170 should the US Dollar Index (DXY) confirm its own breakout above 102.
Across precious metals, both gold and silver are approaching major historical confluence zones:
Gold is testing a 10-year ascending trendline that has transitioned from resistance into support, alongside the 27.2% Fibonacci retracement of the 1920–2026 advance. Full Gold Analysis Silver is testing a breakdown below the 50% Fibonacci retracement of the 1930–2026 advance, while approaching a multi-decade resistance-turned-support zone near $50. I discussed these technical patterns in the latest bi-weekly webinar.
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USD/JPY Price Outlook: 4-Hour Time Frame – Log Scale
Source: TradingView
On the 4-hour chart, USD/JPY continues to coil within a triangle pattern, pointing to growing bullish breakout risks above the 162.40–162.80 resistance zone. A sustained break above this area—and above 163.50—would strengthen the case for an extension toward 165, 168, and eventually 170.
These upside targets align with the 61.8%, 100%, and 127.2% Fibonacci extension levels of the May–June 2026 advance, while also converging with the upper boundary of the ascending channel that has guided price action since April 2025.
On the downside, a confirmed break below 161.10 and 160.80 would expose the lower boundary of the channel near 158. From there, prices could either stage another rebound to preserve the year-long bullish trend or extend losses toward 155 and 152, near the yearly lows. This bearish scenario would likely coincide with a DXY breakdown below the 100.30–99.30 support zone. Expanded Analysis
USD/JPY Price Outlook: Weekly Time Frame – Log Scale
Source: TradingView
The weekly chart highlights the broader one-year ascending parallel channel, with price currently trading near its midpoint. This also aligns with the midpoint of the larger channel that has been in place since 2022, creating a major technical confluence zone.
A sustained move toward 170 remains possible, while a decisive close above 170 would expose the upper boundary of the 2022–2026 channel near 180.
Although this remains an aggressive scenario and would likely increase the probability of Bank of Japan intervention, it cannot be ruled out if the US dollar extends its breakout above 102 without a meaningful policy response from the BOJ.
Silver Price Outlook: Six-Month Time Frame – Log Scale
Source: TradingView
The six-month chart continues to highlight several important long-term technical developments:
A six-month shooting star reversal pattern. A breakdown below the 50% Fibonacci retracement of the 1930–2026 secular advance. Price approaching the multi-decade trendline connecting the highs between 1980 and 2024, which could transition from long-term resistance into major support. This area also aligns with the 61.8% Fibonacci retracement of the entire advance near $46–50. The shorter-term outlook is further clarified on the daily chart below.
Silver Price Outlook: Daily Time Frame – Log Scale
Source: Trading view
From a daily perspective, silver remains capped below a descending trendline connecting the lower highs formed since May 2026. At the same time, daily momentum remains below the neckline of the previous head-and-shoulders pattern, reinforcing the bearish momentum backdrop.
A breakdown below $57 would expose the longer-term support zone discussed above.
Conversely, a breakout above the resistance levels at $61, $63.80, $68, and eventually $72 would significantly increase confidence that a broader bullish reversal is underway, reopening the path toward triple-digit price targets over the longer term.
Key Takeaway The US Dollar Index will remain the primary benchmark for both the FX and precious metals markets as geopolitical tensions continue to evolve.
The 101.80–102.00 resistance zone remains the key level to watch. A confirmed breakout would likely strengthen the US dollar further and increase downside pressure across major currencies and precious metals during the second half of the year.
Conversely, a breakdown below 100.60, followed by 100.30 and 99.30, would ease dollar strength and improve the outlook for currencies and precious metals alike.
Hyperliquid, a decentralized perpetuals protocol operating on its own Layer 1 blockchain, is preparing to update its market structure in 2026 as trading activity shifts rapidly toward its open market system. Recent data shows that HIP-3, the network’s permissionless perpetuals market, has surged to account for nearly 50% of Hyperliquid’s daily trading volume, marking a significant increase from about 2% at the start of the year.
With the introduction of HIP-3, Hyperliquid enabled any developer or community to launch perpetuals markets on its platform without the need for central approval. This marks a departure from the traditional exchange-led listing process and reflects a broader trend in decentralized finance favoring open market creation and greater accessibility.
The HIP-3 system relies on an order book structure, using USDC as collateral and managing risk through shared liquidity pools and vaults. This framework has facilitated the rapid proliferation of niche derivatives products and allowed for increased user participation in assets that might not be listed on conventional exchanges.
Mini dictionary: Hyperliquid is a decentralized perpetuals trading platform that allows users to trade crypto derivatives without relying on a centralized operator. It offers both traditional and permissionless markets and operates its own Layer 1 blockchain.
Interest in long-tail and small-cap derivatives has increased as users are able to trade these assets without passing through typical listing hurdles. Permissionless perpetuals lower entry barriers for early-stage crypto projects and investors seeking new market opportunities.
HIP-3 permissionless perp markets have grown to nearly half of Hyperliquid’s daily volume, a substantial rise from just 2% at the beginning of the year.
Strategic growth and competitionThe shift toward open derivatives markets has not only expanded Hyperliquid’s product suite but also helped the platform tap into new revenue streams. By catering to niche asset classes, Hyperliquid is positioning itself to withstand competition from both centralized exchanges such as Binance and decentralized rivals including dYdX and GMX.
Recent surges in trading volume on alternative chains like Solana have underscored the intensity of competition in the decentralized derivatives sector, pushing platforms to continuously innovate in order to retain user interest.
PlatformCore MechanismMain CompetitorsHyperliquid (HIP-3)Order book, permissionless perpsdYdX, GMXBinanceCentralized exchange, vetted listingsOKX, BybitSolanaLayer 1, high trading volume, ecosystem perpsEthereum, Arbitrum protocolsChallenges and regulatory landscapeIndustry experts see the evolving landscape as part of a larger shift toward on-chain derivatives and alternatives to major centralized exchanges. However, in regions like the US and EU, the regulatory environment for decentralized perpetuals remains uncertain, leaving questions about long-term compliance and growth.
Going forward, Hyperliquid is focused on closely monitoring the performance of its vaults and evaluating cross-margin risk management. Another area under review is whether the liquidity provided by HIP-3 can remain resilient in volatile market conditions.
The platform’s long-term acceptance may depend on the appeal of market-making incentives, the availability of advanced tools, and the stance that regulators ultimately take regarding the legal status of permissionless derivatives.
The degree of market participation and regulatory clarity will play a pivotal role in shaping the future of permissionless derivatives on Hyperliquid and similar platforms.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Over the last six decades, the United States has accumulated nearly 100,000 metric tons of used nuclear fuel. Despite generating about one-fifth of the nation's electricity from nuclear power, the U.S. never established a permanent geological repository for spent commercial nuclear fuel.
This spent fuel could get a second chance if Oklo (OKLO +1.09%) has its way. That's because Oklo's nuclear reactors are designed to efficiently utilize spent nuclear fuel, creating an opportunity to get more from existing nuclear waste.
Here's what investors need to know about Oklo's long-term vision.
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How Oklo plans to get more from nuclear waste When it comes to nuclear energy, used nuclear fuel is not fully depleted or useless material. That's because conventional light-water reactors extract less than 5% of the total energy potential from enriched uranium before the assemblies stop generating power efficiently and are removed. While conventional reactors cannot use the spent fuel, the remaining material still contains large quantities of uranium and other elements that advanced reactor designs could utilize.
Oklo plans to use this spent fuel in its Aurora fast reactor, a compact, advanced reactor designed to operate on high-assay low-enriched uranium (HALEU) and recycled nuclear materials. This is possible because fast reactors can more efficiently utilize the heavier isotopes in spent nuclear fuel, enabling closed-loop fuel cycles.
Image source: The Motley Fool.
Oklo's initial powerhouses are expected to use fresh HALEU fuel, but in the longer term, the company aims to recycle portions of the country's accumulated used-fuel inventory into new reactor fuel. If it succeeds, it could expand domestic fuel supplies, reduce dependence on newly mined uranium, and lessen the burden of nuclear waste management by producing 90% less high-level waste than conventional reactors.
Oklo's use of recycled nuclear fuel could make it an innovator in the nuclear energy space, and it is investing nearly $1.7 billion to build a nuclear fuel recycling facility in Tennessee. Construction is expected to begin here in 2027, with the facility projected to begin producing recycled fuel by the 2030s.
What's next for Oklo? Oklo is making important progress with its nuclear reactor technology. The company's anchor project is the Aurora Powerhouse located at the Idaho National Laboratory. Here, the company will build a 75-MWe liquid-metal-cooled, metal-fueled reactor and aims to begin operations as soon as 2028.
It also has a major deal with Meta Platforms to build a 1.2-GW clean energy campus in Ohio. It has signed a Letter of Intent (LOI) with Centrus Energy to purchase HALEU fuel for this facility, which is slated to start delivering power in 2030, and the full campus is expected to be completed by 2034.
That said, it has a long road ahead and is vulnerable to regulatory setbacks. On top of that, it will incur significant expenses (it projects $350 million to $450 million in capital expenditures this year) before becoming commercially viable.
For those reasons, Oklo is a speculative stock best left to aggressive investors with a long-term perspective.
Tilted, a Web3 gaming and social media platform, is pleased to announce its strategic partnership with Conflux Network, a public layer-1 blockchain built to achieve high transaction throughput under security. This partnership is aimed at joining Artificial Intelligence (AI) creation tools with scalable blockchain infrastructure.
🤝 Tilted x @Conflux_Network Partnership Announcement
Tilted and Conflux Network are teaming up to bring next-gen AI creation tools to a global user base.
Tilted is the AI platform and workspace for Gen Z, they bring creators and builders one place to generate UGC, build apps,… pic.twitter.com/hulYhKtJAy
— Tilted (@tiltedxyz) July 14, 2026 Tilted is among the trusted platforms for providing innovative services in terms of creating content that inspires users, especially Gen Z, for an interesting display and a smooth playing experience. This thing enables users to generate AI-Powered user-generated content (UGC) and build AI applications. Tilted has released this news through its official social media X account.
Tilted and Conflux Network Empower the Next Generation of AI Creators Conflux Network is known for its regulatory-compliant blockchain infrastructure in China and offers scalable, secure, and decentralized infrastructure for Web3 applications. On the other hand, Tilted creates and deploys custom AI agents and has 25000 users with a 150K+ member community. Both partners have a long, satisfactory history of making successful collaborations.
In this world, everything matters a lot in terms of decentralization and innovation for the betterment of users around the world. Tilted brings innovative things with each passing day and plays an essential role in attracting users for Web3-based and AI services. Basically, this partnership is going to expand the possibilities of Web3 along with AI in content creation that has some value among the audience.
Enhancing AI Creation with Decentralized Infrastructure The unification of Tilted and Conflux Network improves scalability, accessibility, and transparency for AI-driven Web3 applications. They also enable a borderless AI creator economy with decentralized technology and encourage creators and developers to make unique and innovative products in the market.
The credibility of any platform is judged by scalability, transparency, and error-free services for the betterment of desired and expected results. This integration is no less than a big opportunity in the world of content creation and a point of attraction for users sitting in different corners of the world. They ensure trusted services along with the proper satisfaction of users, even in the gaming world.
AUTHOR
Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.
The USD/CHF pair attracts some dip-buyers on Wednesday and moves further away from the weekly trough, around the 0.8060 region set the previous day. Spot prices climb to a fresh daily high during the first half of the European session, with bulls looking to build on the momentum further beyond the 0.8100 mark.
As investors digest Tuesday's soft US Consumer Price Index (CPI) data, energy-driven inflation fears resurface as escalating US-Iran tensions and the closure of the Strait of Hormuz remain supportive of elevated crude oil prices. This bolsters US Federal Reserve (Fed) rate hike expectations and offers some support to the US Dollar (USD), which, in turn, acts as a tailwind for the USD/CHF pair and validates the near-term positive outlook.
From a technical perspective, the recent breakout through the 200-day Simple Moving Average (SMA) and subsequent strength beyond the 0.8000 psychological mark were key triggers for bullish traders. Moreover, the Relative Strength Index keeps a constructive bullish tone and stays in positive territory near 58 without yet signaling overbought conditions. This further suggests that underlying demand remains firmly in play.
However, the Moving Average Convergence Divergence (MACD) indicator sits slightly below the zero line with a modestly negative reading, hinting that upside momentum is not fully convincing despite the supportive price structure. Nevertheless, the broader bias would likely stay tilted to the upside as long as the USD/CHF pair holds above the key SMA, with any pullbacks toward 0.8000 seen as a potential opportunity for bullish traders.
Furthermore, the 200-day SMA around 0.7919 might now act as an important technical floor should spot prices retreat further, and a convincing break below would be needed to shift the near-term bias in favor of bearish traders. On the topside, a move above the 0.8145-0.8150 region, or the highest since July 2025, touched on Tuesday, will set the stage for an extension of the recent upward trajectory from 0.7760 or the May swing low.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Swiss Franc FAQs The Swiss Franc (CHF) is Switzerland’s official currency. It is among the top ten most traded currencies globally, reaching volumes that well exceed the size of the Swiss economy. Its value is determined by the broad market sentiment, the country’s economic health or action taken by the Swiss National Bank (SNB), among other factors. Between 2011 and 2015, the Swiss Franc was pegged to the Euro (EUR). The peg was abruptly removed, resulting in a more than 20% increase in the Franc’s value, causing a turmoil in markets. Even though the peg isn’t in force anymore, CHF fortunes tend to be highly correlated with the Euro ones due to the high dependency of the Swiss economy on the neighboring Eurozone.
The Swiss Franc (CHF) is considered a safe-haven asset, or a currency that investors tend to buy in times of market stress. This is due to the perceived status of Switzerland in the world: a stable economy, a strong export sector, big central bank reserves or a longstanding political stance towards neutrality in global conflicts make the country’s currency a good choice for investors fleeing from risks. Turbulent times are likely to strengthen CHF value against other currencies that are seen as more risky to invest in.
The Swiss National Bank (SNB) meets four times a year – once every quarter, less than other major central banks – to decide on monetary policy. The bank aims for an annual inflation rate of less than 2%. When inflation is above target or forecasted to be above target in the foreseeable future, the bank will attempt to tame price growth by raising its policy rate. Higher interest rates are generally positive for the Swiss Franc (CHF) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken CHF.
Macroeconomic data releases in Switzerland are key to assessing the state of the economy and can impact the Swiss Franc’s (CHF) valuation. The Swiss economy is broadly stable, but any sudden change in economic growth, inflation, current account or the central bank’s currency reserves have the potential to trigger moves in CHF. Generally, high economic growth, low unemployment and high confidence are good for CHF. Conversely, if economic data points to weakening momentum, CHF is likely to depreciate.
As a small and open economy, Switzerland is heavily dependent on the health of the neighboring Eurozone economies. The broader European Union is Switzerland’s main economic partner and a key political ally, so macroeconomic and monetary policy stability in the Eurozone is essential for Switzerland and, thus, for the Swiss Franc (CHF). With such dependency, some models suggest that the correlation between the fortunes of the Euro (EUR) and the CHF is more than 90%, or close to perfect.
USD/CAD remains subdued after registering modest losses in the previous day, trading around 1.4050 during the European hours on Wednesday. The technical analysis of the daily chart indicates the pair is testing the lower boundary of the symmetrical triangle. A decisive close below the lower support line would signal that the sellers have taken control, suggesting a strong continuation or reversal to the downside. If buying pressure defends the lower line, the boundary holds, suggesting the price will reverse course and head back up to test the triangle's upper resistance line.
The USD/CAD is retreating from recent highs and slipping below the short-term dynamics reflected by the nine-period Exponential Moving Average (EMA), which now caps the topside. The pair still holds above the 50-period EMA. The 14-day Relative Strength Index (RSI) at 42 has eased out of overbought territory, hinting that bullish momentum has faded and leaving the near-term bias tilted to the downside while price remains under the nine-period EMA.
The USD/CAD pair recorded nearly a monthly low of 1.4039 during the early hours, near the lower boundary of the symmetrical triangle, followed by the 50-day EMA of 1.4014. A successful break below this confluence support zone would cause the bearish emergence and put downward pressure on the pair to navigate the region around the 21-month low of 1.3481, recorded on January 30.
On the upside, the USD/CAD pair may rebound toward the nine-day EMA of 1.4130. A break above the short-term moving average would cause a bullish emergence and support the pair to test the upper boundary of the symmetrical triangle around 1.4240, aligned with the 15-month high of 1.4248, reached on June 24.
USD/CAD: Daily Chart(The technical analysis of this story was written with the help of an AI tool. Know more.)
Canadian Dollar Price Today The table below shows the percentage change of Canadian Dollar (CAD) against listed major currencies today. Canadian Dollar was the strongest against the Swiss Franc.
USDEURGBPJPYCADAUDNZDCHFUSD-0.03%-0.00%0.02%-0.04%-0.18%-0.12%0.11%EUR0.03%-0.03%0.06%-0.02%-0.20%-0.15%0.14%GBP0.00%0.03%0.07%0.00%-0.17%-0.14%0.16%JPY-0.02%-0.06%-0.07%-0.06%-0.22%-0.16%0.08%CAD0.04%0.02%-0.00%0.06%-0.15%-0.14%0.15%AUD0.18%0.20%0.17%0.22%0.15%0.03%0.29%NZD0.12%0.15%0.14%0.16%0.14%-0.03%0.28%CHF-0.11%-0.14%-0.16%-0.08%-0.15%-0.29%-0.28% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Canadian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CAD (base)/USD (quote).
The AUD/JPY pair broke past the 113.00 resistance level following previous quiet six session bounds between 111.95 and 112.81 Yen weakness was fueled by interest rate differences and market confusion over speculation that Japan's massive pension fund might relocate foreign assets back home The Aussie dollar found solid fundamental support as global commodity prices remained firm despite the geopolitical tensions in the Middle East After six sessions trading within a tight range of 111.95 to 112.81, the AUD/JPY pair moved decisively higher on Tuesday. It surpassed the 113.00 psychological level and continued its ascent today, nearing 113.39. So, what changed?
Speculation Over the World’s Largest Pension Fund Triggers Yen Selloff Headlines regarding Japan’s Government Pension Investment Fund (GPIF) appear to be the primary driver behind the yen’s recent decline. Reports suggest the government is considering encouraging the massive pension fund to increase its investments in domestic assets to support local markets and the yen. While this sounds like it should strengthen the Japanese currency, the market reacted with immediate skepticism.
This skepticism stems from past attempts by the Japanese finance ministry to support the yen, which proved costly and ineffective. As CNBC reported, Tokyo’s finance ministry burned through roughly $73 billion defending the yen back in April and May, only to watch it slide right back toward the levels it started from.
Analysts suggest the yen’s weakness is rooted in structural issues. These include Japan’s growing public debt, a government focused on reflation, and inflation expectations that are not aligning with typical interest rate differentials.
On the Aussie side, the Reserve Bank of Australia has hiked its cash rate three times this year to 4.35%. Despite holding rates steady in June, RBA meeting minutes indicated ongoing concerns about inflation exceeding the target, with core inflation accelerating even as headline inflation eased.
A Finder survey of more than 40 economists shows 55% of them expect at least one more rate hike this year, likely in August. This policy stance supports Australian yields and the carry appeal of the Australian dollar.
Commodity prices and China’s economic performance also play a significant role. Australia, as a major exporter of iron ore, coal, and liquefied natural gas, benefits from resilient demand from China. Positive economic indicators from Beijing have bolstered risk sentiment and AUD strength.
Market Outlook Signals Bullish Bias with Caution This breakout suggests a constructive near-term outlook for AUD/JPY, potentially targeting higher levels if policy divergence persists and global risk conditions remain favorable.
For those considering trading this breakout, entering at current levels around 113.40 presents some short-term risk. A sustained move above 113.58 on a daily closing basis would be the next key level to watch, potentially opening the way toward 113.90 and the 52-week high zone around 114.90.
Below the surface, though, this rally is fragile. A significant risk to long positions is the potential for direct market intervention by the Bank of Japan or the Ministry of Finance to support the yen. Such action could lead to a rapid and substantial decline in the AUD/JPY pair.
Why did AUD/JPY break above 113.00 this week?
The breakout was caused by a combination of RBA rate-hike expectations supporting the Aussie and persistent yen weakness tied to Japan’s debt concerns and ineffective currency intervention.
Is the Australian dollar actually getting stronger?
The Australian dollar’s appreciation appears to be more a reflection of yen weakness than a substantial increase in the Australian dollar’s strength, although RBA policy has contributed positively.
How does China’s economy influence Australian dollar strength?
Stronger Chinese demand for commodities like iron ore and coal increases Australia’s export revenues, improving its terms of trade and supporting the AUD.
EthSystems wurde vom Team der Institutional Privacy Task Force der Ethereum Foundation gegründet und entwickelt Datenschutz- und Compliance-Technologie für Ethereum
Zu den wichtigsten Geldgebern zählen Bitmine, Sharplink und Joe Lubin
, /PRNewswire/ -- EthSystems, ein Ingenieurs- und Forschungsunternehmen (das „Unternehmen"), gab heute seinen öffentlichen Start bekannt, finanziert durch eine Ankerfinanzierung von Bitmine Immersion Technologies, Inc. (NYSE: BMNR), Sharplink, Inc. (Nasdaq: SBET), Joe Lubin und weiteren Unterstützern des Ökosystems. Das Unternehmen entwickelt Datenschutztechnologie, die es Banken, Vermögensverwaltern und anderen regulierten Institutionen ermöglicht, Finanztransaktionen auf Ethereum in großem Maßstab durchzuführen, ohne sensible Informationen wie Handelsdetails oder Kundenidentitäten preiszugeben.
EthSystems Launches to Build Privacy Solutions for Institutions on Ethereum EthSystems wurde von dem Team gegründet, das die Institutional Privacy Task Force („IPTF") der Ethereum Foundation aufgebaut und geleitet hat. Das Unternehmen startet mit einem Jahr Open-Source-Arbeit, die bereits unter ethsystems.org öffentlich zugänglich ist, sowie mit direkt aufgebauten Beziehungen zu Zentralbanken, Aufsichtsbehörden, Tier-1-Banken und Vermögensverwaltern.
Banken, Vermögensverwalter und Marktinfrastrukturanbieter prüfen und setzen bereits Stablecoins, tokenisierte Vermögenswerte und die Abwicklung auf Ethereum ein. Eine sinnvolle institutionelle Akzeptanz erfordert jedoch mehr als nur den Zugang zum Netzwerk: Institutionen benötigen komplette Systeme, die geschäftlich sensible Informationen schützen, regulatorische und Compliance-Anforderungen erfüllen und sich in die bereits von ihnen betriebene Infrastruktur integrieren lassen. EthSystems entwickelt die Technologie, die es jeder Transaktionspartei ermöglicht, genau das zu sehen, wozu sie berechtigt ist – und nicht mehr –, ohne dabei auf die Dezentralisierung und Sicherheit zu verzichten, die den Kern von Ethereum bilden.
EthSystems schließt sich zwei weiteren Organisationen an, die kürzlich aus der Ethereum Foundation ausgegliedert wurden und jeweils eine eigenständige und sich ergänzende Rolle einnehmen. Ethlabs treibt die Weiterentwicklung des Kernprotokolls und der Infrastruktur von Ethereum voran. Ethereum Institutional ist für die Zusammenarbeit mit institutionellen Akteuren, Aufklärung, Marktanalysen und die Koordination des Ökosystems zuständig. EthSystems ist auf der angewandten technischen Ebene tätig und setzt institutionelle Anforderungen in Architekturen, Protokolle und Produktionssysteme um, die echte Finanzaktivitäten auf Ethereum ermöglichen.
Das Gründungsteam von EthSystems – Mo Jalil, Oskar Thorén und Aaryamann Challani – hat das IPTF aufgebaut und geleitet und im vergangenen Jahr direkt mit Zentralbanken, Aufsichtsbehörden und führenden Finanzinstituten zusammengearbeitet. Zu ihren bisherigen Stationen zählen die Ethereum Foundation, Goldman Sachs und Status, einer der frühesten mobilen Ethereum-Clients, wo sie am Aufbau der zentralen Datenschutzinfrastruktur mitwirkten, die heute im gesamten Ethereum-Ökosystem genutzt wird. Diese Kombination aus institutioneller und technischer Erfahrung ist der Grund, warum die Gründer davon überzeugt sind, Institutionen beim Aufbau hochwertiger Datenschutzlösungen mit echter Glaubwürdigkeit unterstützen zu können.
Tom Lee, Vorstandsvorsitzender von Bitmine. „Die Institutionalisierung von Ethereum erfordert eine Infrastruktur, die institutionelle Standards für Datenschutz und Sicherheit erfüllt. Ohne sie werden die nächsten 100 Billionen Dollar an Vermögenswerten nicht auf die Blockchain migrieren. EthSystems baut diese fehlende Ebene mit einem Team auf, das versteht, wie Institutionen neue Technologien bewerten und einführen. Genau diese Art von grundlegender Investition tätigt Bitmine, um die Entwicklung von Ethereum als institutionelle Finanzinfrastruktur zu beschleunigen."
Joseph Chalom, Geschäftsführer von Sharplink. „Unsere Kernthese lautet, dass sich der differenzierte Wert von Ethereum vervielfacht, je mehr Finanzaktivitäten auf die Plattform verlagert werden. Das volle Potenzial von Ethereum kann nur ausgeschöpft werden, wenn Institutionen das Netzwerk nutzen können, ohne dabei ihre Privatsphäre zu gefährden. Dieses Team hat diese Lösungen bei wichtigen Institutionen, die sie benötigen, gründlich validiert. Wir glauben, dass die Arbeit von EthSystems die nächste Phase der institutionellen Einführung von Ethereum beschleunigen wird. Indem wir das EthSystems-Team unterstützen, treiben wir direkt die Datenschutz- und Vertraulichkeitsfunktionen voran, die große Finanzinstitute benötigen, um auf Ethereum zu agieren – und zwar auf eine Weise, die im Einklang mit unserer Mission steht, langfristigen Wert für unsere Aktionäre zu schaffen."
Joe Lubin, Mitbegründer von Ethereum sowie Gründer und Chief Executive Officer von Consensys. „Im Laufe der Jahre habe ich beobachtet, wie viele Teams Institutionen Datenschutztechnologie angeboten haben, bei der es sich manchmal lediglich um genehmigungsbasierte Systeme mit zusätzlichen Schritten handelte. Dieses Team versteht den Unterschied sehr genau. Es kann auf ein Jahr praktischer Arbeit zurückblicken und verfügt über die Disziplin, die Ergebnisse fortlaufend zu veröffentlichen, sodass der Rest des Ökosystems darauf aufbauen kann, anstatt darauf zu warten, dass ein einzelnes Unternehmen die Lösung vorlegt. So hat das Ethereum-Ökosystem schon immer Innovationen vorangetrieben. Genau das erwartet Ethereum von den Menschen, die seine institutionelle Ebene aufbauen, und genau das hat dieses Team vom ersten Tag an mitgebracht. Ich und die Consensys-Institutional-Gruppe freuen uns darauf, eng mit dem EthSystems-Team zusammenzuarbeiten, um erstklassige Datenschutz- und Vertraulichkeitskonzepte in die erstklassigen Systeme zu integrieren, die wir mit und für große Finanzinstitute entwickeln."
Mo Jalil, Mitbegründer und CEO von EthSystem
„Datenschutz ist das, was die Würde, Sicherheit und den Schutz aller in einem Netzwerk gewährleistet – vom Einzelnen bis hin zu Institutionen. Deshalb hat Ethereum institutionelles Kapital gewonnen und ist auf dem besten Weg, den institutionellen Handel für sich zu gewinnen. Keine Zentralbank, kein Vermögensverwalter und keine Regierung wird ihre Geschäfte vor den Augen der ganzen Welt abwickeln. Für sie ist Datenschutz kein Feature. Er ist eine Voraussetzung – und er macht den Unterschied aus, ob Ethereum heute Milliarden verwaltet oder morgen Billionen."
Informationen zu Bitmine
Bitmine (NYSE: BMNR) ist ein Bitcoin-Miner mit Aktivitäten in den USA. Das Unternehmen setzt sein überschüssiges Kapital ein, um das weltweit führende Ethereum-Treasury-Unternehmen zu werden, und verfolgt eine innovative Strategie für digitale Vermögenswerte für institutionelle Investoren und Teilnehmer an den öffentlichen Kapitalmärkten. Geleitet von seiner Philosophie der „Alchemy of 5 %" setzt das Unternehmen auf ETH als primären Treasury-Reservewert und nutzt dabei protokollnative Aktivitäten, darunter Staking und dezentrale Finanzmechanismen. Das Unternehmen führte im Jahr 2026 MAVAN (Made-in America Validator Network) ein, eine spezielle Staking-Infrastruktur für Bitmine-Vermögenswerte.
Informationen zu Sharplink
Sharplink (NASDAQ: SBET) ist eine führende Ethereum-Treasury-Plattform für institutionelle Anleger, die darauf ausgelegt ist, Anlegern am öffentlichen Markt ein intelligenteres und produktiveres Engagement in ETH zu ermöglichen. Ethereum bildet die Grundlage für den Großteil der weltweiten Stablecoins, tokenisierter realer Vermögenswerte und Abwicklungen im Bereich der dezentralen Finanzen. Sharplink wurde 2019 gegründet und hat seinen Hauptsitz in Miami, Florida. Weitere Informationen finden Sie unter sharplink.com.
Informationen zu EthSystems
EthSystems ist ein Ingenieur- und Forschungsunternehmen, das vertrauliche Systeme für institutionelles Ethereum entwickelt. Das Unternehmen wurde vom Team der Institutional Privacy Task Force der Ethereum Foundation gegründet und kann auf ein Jahr erfolgreicher Open-Source-Projekte zurückblicken, darunter private Überweisungen, private Anleihen, vertrauliche Abwicklung und datenschutzkonforme Identitätsprüfung – alles verfügbar unter ethsystems.org. EthSystems arbeitet direkt mit Institutionen, Anbietern und Teams im gesamten Ethereum-Ökosystem zusammen, um diese Systeme in die Produktion zu überführen, und ist weltweit tätig, wobei das Unternehmen tief im asiatisch-pazifischen Raum verwurzelt ist.
Zukunftsgerichtete Aussage
Diese Pressemitteilung enthält zukunftsgerichtete Aussagen bezüglich des erwarteten institutionellen Interesses an Ethereum, der Pipeline für Kundenakquise und der Geschäftsstrategie. Diese Aussagen basieren auf aktuellen Erwartungen und beinhalten Risiken und Ungewissheiten, die dazu führen könnten, dass die tatsächlichen Ergebnisse wesentlich davon abweichen. Zukunftsgerichtete Aussagen gelten nur zum Zeitpunkt dieser Veröffentlichung, und EthSystems übernimmt keine Verpflichtung, diese zu aktualisieren, es sei denn, dies ist gesetzlich vorgeschrieben. Diese Pressemitteilung dient ausschließlich zu Informationszwecken und stellt weder ein Angebot zum Verkauf noch eine Aufforderung zur Abgabe eines Angebots zum Kauf von Wertpapieren oder digitalen Vermögenswerten dar.
Space Exploration Technologies (SPCX 2.20%) splashed onto the scene just a few weeks ago when it completed the world's biggest initial public offering, raising more than $85 billion after the exercise of an overallotment option. Of course, SpaceX wasn't new to investors -- the company had been making headlines for years, particularly for its rocket launches for NASA. But this was the first time investors, from retail to professional, could easily invest in the company.
Demand was high during the IPO -- it was greatly oversubscribed -- and during the first days of trading. The stock soared 50% from its $150 debut price to a peak of $225 on June 16. In recent days, though, SpaceX has lost the positive momentum. In fact, the stock has slipped below its debut price.
If you had invested $10,000 in SpaceX's early days of trading, how much would this investment be worth in a year? History offers us a very clear answer.
Image source: Getty Images.
Exciting growth businesses First, though, let's take a quick look at the SpaceX story. The company has attracted investors thanks to its exciting growth businesses and its ambitious leader, Elon Musk. SpaceX operates in rocket launches, satellite-based internet, and artificial intelligence (AI), areas that each could drive significant revenue gains if they reach certain goals. And speaking of goals, many are ambitious, but if the company can accomplish them, they could be game changers. For example, SpaceX aims to develop data centers in space, and its most ambitious goal may be to colonize Mars.
What's interesting about this mix of businesses is that they fit together nicely, with accomplishments of one driving gains in another. SpaceX's work to make reusable rockets and drive down the costs of launches will help it launch equipment more cheaply and quickly into space for its other businesses.
Elon Musk is the chief executive officer behind these ambitions, and while some investors aren't fans of his strategies, others are -- and they generally rush to bet on Musk. The popularity of the SpaceX IPO is proof of this.
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$18 billion in revenue SpaceX has made progress in various areas -- it aims to launch its fully reusable rocket, Starship, with payloads later this year -- and is delivering growth. Revenue last year climbed more than 30% to $18 billion. But SpaceX needs to invest heavily to support the development of its technology, and this pushed the company to a $4.9 billion loss. This may continue, considering the complexity of the technology involved in the company's businesses.
Now, let's consider the potential value of a $10,000 investment in SpaceX after the stock's first full year of trading. A look at some of the biggest IPOs, from Meta Platforms to Uber Technologies, shows that eight out of 10 fell in their first 12 months on the stock market. Seven of them delivered double-digit declines, and the average drop was 12%.
We might consider SpaceX's performance as falling into the average, and here's why: On its first day of trading, it climbed nearly 20%. According to a study by Jay Ritter of the University of Florida, the average first-day return of more than 6,000 IPOs between 1990 and 2025 was just over 21%.
So if we also apply the average drop seen in our look at 10 major IPOs to SpaceX, we come up with the following: History shows us that your $10,000 investment in SpaceX would be worth $8,800 after 12 months.
Major IPOs in general haven't delivered gains after their first year on the market, and the greatly popular SpaceX could follow unless it breaks with this historical trend, which, of course, is possible. Still, all of this means that investors shouldn't necessarily rush to get in on IPO stocks, as there may be better entry points down the road.
A lawyer says Apple's case against OpenAI is really a fight to see what's behind the curtain By You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.
OpenAI CEO Sam Altman looks past Apple CEO Tim Cook. Bloomberg/Getty Images Apple doesn't know what's happening behind OpenAI's closed doors, and its new lawsuit could change that.
Apple sued OpenAI in federal court on Friday, with a fiery complaint accusing the company of stealing trade secrets to build up its nascent hardware business. The suit pits an incumbent against a disruptor — OpenAI is working on devices that could threaten Apple's bottom line. Apple says OpenAI stole information in a "coordinated pattern of misconduct" and poached more than 400 employees from its ranks.
Patricia Lantzy, an attorney who leads Outside General Counsel's employment practice, told Business Insider that Apple likely brought this complaint in part because it had no other way to determine what information OpenAI might have taken. The complaint makes it clear there's a lot that Apple does not know about what OpenAI might have taken or what it might be doing with any potential trade secrets, she said.
"We have no interest in other companies' trade secrets," an OpenAI spokesperson said in a statement. "While we take these allegations seriously, we're not aware of any evidence that this complaint has merit. We believe in fair competition and allowing people the freedom to work wherever they choose, and we're focused on building innovative technology that empowers people everywhere."
Apple did not respond to a request for comment from Business Insider.
Lantzy laid out the case's most important questions for Apple and OpenAI to answer.
Apple wants more informationApple alleges that its former engineer, Chang Liu, used his old company laptop to access Apple systems during his new job at OpenAI, downloading confidential files containing technical specifications, manufacturing processes, and more. Apple is also accusing OpenAI of pumping potential recruits for confidential information about the iPhone giant's work.
Apple's suit calls these allegations the "tip of the iceberg," saying it "lacks visibility into what's been happening behind closed doors at OpenAI."
Lantzy said a lawsuit's discovery process can help Apple find out exactly what's happening. It's an alternative to something drastic and illegal like corporate espionage, she said.
Apple's point of view seems to be, "We need the court's help to hash out these facts and discover exactly what has gone on here," she said.
Apple's legal argument hinges on a 2016 lawThe thrust of the lawsuit hinges on the 2016 Defend Trade Secrets Act, which allows companies to sue for trade secret theft.
Apple will need to prove that any information in question was actually secret, that Apple took precautions to safeguard it, and that the defendants intentionally obtained it through improper means, Lantzy said.
Another important question, she said, is whether OpenAI actually used any stolen trade secrets in practice. That could have major ramifications in the case, where Apple has asked for monetary recovery and damages, or in lieu of those, a "reasonable royalty."
While it has hired hundreds of former Apple workers, OpenAI's hardware efforts are still early. Bloomberg reported on Tuesday that OpenAI's first device could be a screen-free smart speaker.
In the complaint, Apple alleges that OpenAI has deployed stolen secrets in its hardware development.
"That's kind of hard to prove at this stage," Lantzy said.
The attorney said California law generally protects OpenAI's recruitment of Apple employees, though if the company instructed decamping Apple workers to bring secrets with them, that would be "problematic."
"We're only reading Apple's side of it," Lantzy said. "We haven't gotten OpenAI's answer yet. That will also be illuminating, no doubt."
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Stephen Council You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.
Stephen is a Senior Tech Reporter at Business Insider, covering OpenAI, Anthropic and the ecosystem around the leading artificial intelligence companies.Previously he covered technology at SFGATE, and has written for The Wall Street Journal, The Information and CNBC. He studied journalism and economics at Northwestern University.His work has earned an SF Press Club Investigative Reporting Award and, in 2025, SPJ NorCal’s Excellence in Journalism Award for Technology Reporting.Stephen lives in San Francisco. Contact him via email at [email protected], or on Signal, Telegram, or WhatsApp at 415-757-8198. Use a personal email address, a nonwork WiFi network, and a nonwork device; here's our guide to sharing information securely.
Apple OpenAI Sam Altman More Legal lawsuit Big Tech
Coca-Cola (KO 1.39%) stock is a top pick for dividends, but it rarely beats the market. Historically, it tends to outperform when the market is down, since it's a classic "safe stock." But its low, steady growth and reliability are less prized in strong bull markets, and over time, it's an underperformer.
However, it's having a blowout 2026. Not only is the stock beating the market this year, up 22% versus 11% for the S&P 500, but it's also beating top growth stocks including Nvidia and Amazon. That's because its prized features matter today, too.
It's Warren Buffett's favorite Warren Buffett has praised Coca-Cola many times as an example of a great business, and it was the stock he was talking about when he said his favorite holding period is "forever." The reasons he loves it so much are the reasons I think the market is also loving it right now.
Image source: Getty Images.
He loves Coke's place in the economy, its global brand that travels, and its relationship with fans, which is a moat that's not easily torn down. That's well illustrated by the famous business case of when it introduced New Coke based on taste tests, which was a thorough failure because it didn't take into account users' emotional connection to the classic formula. Coca-Cola won't be replaced by artificial intelligence (AI), and people will always need to drink.
He also loves its dividend. Coca-Cola is a Dividend King, which means that it has raised its dividend for at least 50 years consecutively, and it has one of the longest track records, having raised its dividend for the past 64 years straight. It tends to have a high yield, but since the stock is soaring, the yield is down to 2.5% at the current price.
Why it matters now These are features that fortify it under adverse circumstances, which is why it's considered safe. And that's why investors are likely buying it today.
Despite what it might look like from the thriving market, the economy is in a challenging place. Inflation is still raging, and steady interest rates might eventually put a dent in the economy. The ceasefire with Iran seems to be over, and oil prices are already heading higher again.
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Despite all of that, the S&P 500 keeps climbing higher. There are two major streams of thought about why: Either investors are having a break with reality, or there's immense confidence in AI being reality.
Either way, Coca-Cola stock provides the security investors need when there's volatility. It's demonstrating healthy growth despite economic headwinds, and the company has a long growth runway as it continues to make inroads into developing regions. And it can continue to do so in the age of AI, using AI to its advantage to identify specific opportunities and act on them. That makes it a fantastic component of a defensive portfolio.
Key Takeaways Citi posted Q2 revenue of $24.77B and EPS of $3.15, both ahead of consensus estimates.C kept its 2026 RoTCE target unchanged, prioritizing investment flexibility over a near-term goal.Citi raised its dividend 12%, launched a $30B buyback and highlighted record Services revenue. Citigroup Inc. (C - Free Report) used its second-quarter call to make a broader point than the headline beat. Management framed the quarter as evidence that the bank’s multiyear rebuild is producing stronger earnings power, while also creating room to invest more aggressively for future returns.
That message mattered because analysts pressed hard on why Citi kept its full-year return target unchanged despite a strong first half. Management’s answer was clear: it wants flexibility to accelerate organic investments, structural efficiency moves and funding actions rather than optimize for a single near-term waypoint.
Citi Ties the Quarter to a Stronger FranchiseChair and CEO Jane Fraser said the quarter marked Citi’s best quarterly revenue in a decade, with double-digit growth for the firm and in four of five businesses. She emphasized that the result was not just market-driven, but tied to prior investments, tighter execution and a more durable earnings profile.
Citi reported revenue of $24.77 billion and EPS of $3.15, both ahead of the Zacks Consensus Estimate of $23.68 billion and $2.72, respectively.
Fraser also pointed to capital return as a sign of confidence. Citi plans to raise its dividend by 12% and launched a $30 billion common stock repurchase program, with $4 billion bought back during the quarter and about $5 billion returned through buybacks and dividends overall.
C Benefits From More Than One EngineManagement highlighted that Services posted its highest quarterly revenue ever, with revenue up 18% and RoTCE above 30%. Fraser and CFO Gonzalo Luchetti both tied that performance to deeper client relationships, operating deposit growth and continued demand for cross-border capabilities.
Markets also remained a major contributor. Revenue rose 17%, with Equities up 45% and prime balances up nearly 60%, while Fixed Income benefited from strength in foreign exchange, spread products and commodities.
Banking and Wealth added to the breadth story. Banking revenue climbed 34%, helped by a 44% jump in investment banking revenue, while Wealth revenue rose 13% for a ninth straight quarter as client investment assets grew 14% and net new investment assets strengthened.
Citi Defends Its Full-Year Return TargetThe central tension in the Q&A was Citi’s decision to keep its full-year 2026 RoTCE target at 10% to 11% even after generating 13.1% year to date. Luchetti said management wanted to preserve room for second-half seasonality, especially in Markets, and for a range of macro outcomes.
He also reaffirmed the full-year efficiency ratio target of around 60%, NII excluding Markets growth of about 5% to 6%, and a total U.S. credit card net credit loss rate of 4% to 4.5%.
What changed on the call was the emphasis. Fraser repeatedly told analysts Citi was focused on its near-term and medium-term return targets, not on maximizing a 2026 waypoint, and said a constructive environment would be used to pull forward investments that can support higher sustainable returns.
C Pushes Harder in Consumer CardsU.S. Consumer Cards was the clearest example of that strategy. Revenue rose just 1%, but management said the business absorbed deliberate investment in products, partnerships and customer acquisition, including the onboarding of an additional American Airlines co-branded portfolio with more than $6 billion in loans and over 2 million accounts.
Luchetti said expenses are expected to grow faster than revenue for the next few quarters as Citi invests in engagement and acquisitions. He stressed that the bank is comfortable doing so because Cards is a high-returning business, with second-quarter RoTCE at 22%.
Management also sounded constructive on credit. Luchetti said the U.S. consumer remains resilient, with card delinquencies and net credit losses down year over year and performance running in line with or better than expectations.
Citi Sees More Room on Efficiency and CapitalAnother important theme was self-help. Citi reduced headcount to 219,000 and incurred more than $800 million of severance year to date, as management continues to remove stranded costs, lower temporary transformation expenses and push productivity gains through technology and AI.
Fraser said much of the remediation work tied to Citi’s consent orders has now passed internal audit validation and can be handed to regulators. She added that Citi is already reducing related expenses as bodies of work are completed, rather than waiting for formal closure.
On capital, Citi ended the quarter with a 12.8% CET1 ratio, about 120 basis points above its current regulatory minimum. Luchetti also pointed to improving stress test results and a $500 million year-to-date reduction in disallowed deferred tax assets as evidence that the balance sheet story is improving alongside earnings.
C Keeps Playing the Long GameThe clearest takeaway from the call was tone. Citi did not argue that the second half must weaken. Instead, management argued that stronger operating momentum gives it more choices on where to invest and how quickly to execute structural actions.
That made the Q&A less about whether Citi could exceed its full-year target and more about whether it should optimize for that number. Fraser’s answer was that the bank is now in a position to think more about durability, market share and medium-term returns than about managing to a single annual figure.
What Zacks Signals Say on CC carries a Zacks Rank #3 (Hold), along with a Value Score of D, Growth Score of C, Momentum Score of A and VGM Score of C. Under Zacks’ framework, the Rank is the first screen because it reflects earnings estimate revisions, while Style Scores serve as complementary indicators over a similar one- to three-month horizon. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
That combination points to stronger momentum characteristics than value or broad style appeal right now. Zacks also notes that stocks with the most favorable return profiles typically pair a Zacks Rank #1 or #2 (Buy) with Style Scores of A or B, while a Zacks Rank #3 can still be held with attention to the score hierarchy. The Zacks Rank can change as analysts revise estimates after the quarter.
, /PRNewswire/ -- Bank of America publie aujourd'hui ses résultats financiers du deuxième trimestre 2026. Le communiqué de presse, les documents supplémentaires et la présentation aux investisseurs peuvent être consultés sur la page internet de Bank of America consacrée aux relations avec les investisseurs, à l'adresse suivante : https://investor.bankofamerica.com/quarterly-earnings.
Un formulaire 8-K contenant les résultats financiers de Bank of America est également disponible sur le site web de la Securities and Exchange Commission des États-Unis à l'adresse suivante : https://www.sec.gov.
Informations relatives à la conférence téléphonique avec les investisseurs
Brian Moynihan, président du conseil et CEO, et Alastair Borthwick, vice-président exécutif et directeur financier, présenteront les résultats financiers lors d'une téléconférence destinée aux investisseurs qui se tient aujourd'hui à 8h30 ET. Pour une connexion en écoute seulement pendant la conférence téléphonique, composez le 1.877.200.4456 (États-Unis) ou le 1.785.424.1732 (international). L'identifiant de la conférence est le 79795. Veuillez composer le numéro 10 minutes avant le début de la conférence téléphonique.
Les investisseurs peuvent suivre la conférence téléphonique en direct et consulter les diapositives de la présentation en se rendant dans la section « Événements et présentations » du site web de la société consacré aux relations avec les investisseurs.
Informations sur la rediffusion de la conférence téléphonique pour les investisseurs
Les investisseurs peuvent accéder aux enregistrements de la téléconférence destinée aux investisseurs en se rendant sur le site web des relations avec les investisseurs ou en composant le 1.800.934.4850 (États-Unis) ou au 1 402 220 1178 (international) à partir du 14 juillet à midi jusqu'au 24 juillet à 23h59 ET.
Bank of America
Bank of America est l'une des principales institutions financières du monde. Elle propose aux particuliers, aux petites et moyennes entreprises et aux grandes sociétés une gamme complète de produits et de services bancaires, d'investissement, de gestion d'actifs, ainsi que d'autres produits et services financiers et de gestion des risques. L'entreprise offre un niveau de commodité inégalé aux États-Unis, où elle compte près de 70 millions de clients, grâce à environ 3 500 agences bancaires, quelque 15 000 distributeurs automatiques de billets et une offre bancaire en ligne primée qui compte environ 60 millions d'utilisateurs numériques vérifiés. Bank of America est un leader mondial de la gestion de patrimoine, de la banque d'entreprise et d'investissement et de la négociation, couvrant un large éventail de catégories d'actifs et proposant ses services aux entreprises, aux gouvernements, aux institutions et aux particuliers du monde entier. En tant que premier prêteur des petites entreprises aux États-Unis (FDIC), Bank of America offre un accompagnement de premier plan à environ quatre millions de petites entreprises grâce à une gamme de produits et services en ligne innovants et intuitifs. L'entreprise répond aux besoins de ses clients à travers ses activités aux États-Unis, sur ses territoires et dans plus de 35 pays. Les actions de Bank of America Corporation (NYSE : BAC) sont cotées à la bourse de New York.
Les investisseurs peuvent contacter
Lee McEntire, Bank of America
Téléphone : 1.980.388.6780
[email protected]
Jonathan G. Blum, Bank of America (Produits à revenu fixe)
Téléphone : 1.212.449.3112
[email protected]
Les journalistes peuvent contacter
Jocelyn Seidenfeld, Bank of America
Téléphone : 1.646.743.3356
[email protected]
Key Takeaways JPM now expects 2026 NII excluding Markets of $96.5 billion and total NII of $105.5 billion.Investment banking fees rose 30%, and Markets revenues climbed 35% amid a robust deal pipeline.JPM cut its card net charge-off outlook to about 3.2% as delinquencies tracked better than expected. JPMorgan Chase & Co. (JPM - Free Report) used its second-quarter 2026 earnings call to push the story beyond a headline beat and toward a stronger full-year revenue outlook. Management highlighted a rare mix of elevated market activity, resilient consumer trends and broad-based business momentum.
The call also mattered because executives spent much of the Q&A defending the durability of those tailwinds while updating investors on leadership succession, capital deployment and the bank’s next wave of AI and digital investments.
JPM Raises the 2026 Revenue BarChief financial officer Jeremy Barnum said JPM now expects full-year net interest income excluding Markets of about $96.5 billion, up from the prior $95 billion view. Total NII is now expected to reach about $105.5 billion, helped by roughly $9 billion of Markets NII.
Barnum said the revised outlook reflects stronger deposit balances across wholesale and consumer banking, along with a somewhat firmer rate backdrop. He added that the most important implication is a higher exit run rate into next year.
The quarter itself added support. Excluding significant items, JPM reported EPS of $6.14, which topped the Zacks Consensus Estimate of $5.59. Fourth-quarter revenues came in at $57.35 billion, beating the estimate of $49.14 billion.
JPMorgan Sees a Healthy Deal BackdropBarnum described the commercial environment as especially supportive in investment banking and trading, though he stopped short of calling it fully repeatable. Investment banking fees rose 30% year over year, while Markets revenues climbed 35%.
He said the banking pipeline remains robust even after some transaction pull-forward, with large equity deals and faster M&A closings helping second-quarter performance. Management also said current activity levels are encouraging more activity rather than shutting it down.
At the same time, Barnum drew a distinction between healthy conditions and permanence. He said the market is clearly risk-on, but JPM is trying to support clients without relaxing its own risk discipline.
JPM’s Consumer Trends Stay ConstructiveBarnum said consumers and small businesses remain resilient despite elevated gas prices and inflation. He pointed to solid spending trends, stronger tax refunds and a durable labor market as key supports.
That message aligned with the numbers in Consumer & Community Banking, where revenues rose 8% year over year to $20.3 billion, and net income increased 3% to $5.3 billion. Management also noted more than 500,000 net new checking accounts in the quarter.
On credit, Barnum said delinquencies are tracking better than expected across FICO bands. JPM also lowered its full-year card net charge-off rate outlook to about 3.2%, reflecting stronger consumer performance.
JPMorgan Pushes Growth Despite Cost PressureOne of the sharper exchanges in the Q&A centered on expenses. Barnum raised the adjusted expense outlook to about $107.5 billion, saying the increase was driven mostly by volume- and revenue-linked costs tied to unusually strong activity.
Jamie Dimon, chairman and chief executive officer, rejected the idea that the bank should manage for perpetual operating leverage. He argued JPM’s model is to keep investing in branches, technology, bankers and marketing while still producing strong returns.
That stance also shaped the AI discussion. Dimon said the bank already has close to 1,000 use cases in motion, with roughly 50 considered especially important across fraud, risk, marketing, hedging, note-taking and document review. He framed AI as a tool to improve service and productivity, not a reason to assume structurally higher margins.
JPM Sticks With Organic Capital DeploymentCapital allocation drew another heavy round of questions after the bank bought back $6.2 billion of stock in the quarter and reported a 14.1% standardized CET1 ratio. Dimon said buybacks are an investment decision, not simply a return of capital.
He said the bank still sees a large set of organic opportunities across cards, branches, payments, digital products and international expansion. That helps explain why management remains willing to preserve flexibility even with returns running well above long-term targets.
On regulation, Dimon again pressed for changes to Basel III endgame proposals, arguing that some capital calculations still double-count risk. Barnum added that regulatory stability would be welcome, but said JPM’s current valuation is not obviously being capped by regulation alone.
JPMorgan Broadens the Leadership StoryLeadership succession also moved to the foreground. Dimon said the elevation of Doug Petno and Troy Rohrbaugh to co-presidents does not change the expected succession timetable, which he again described as being measured in several years and ultimately up to the board.
Dimon defended Rohrbaugh’s move into the consumer role by emphasizing broad management ability, culture and operating depth rather than narrow product experience. He said the bank wants leaders who can carry the franchise across businesses, not just excel in one silo.
That answer fit the broader tone of the call. JPMorgan presented itself as a bank still leaning into growth, still investing through the cycle and still treating today’s unusually favorable environment as a chance to build, not coast.
Zacks Signals Still Favor SelectivityJPM carries a Zacks Rank #2 (Buy). Under the Zacks framework, Rank #1 (Strong Buy) and #2 stocks have the strongest potential to outperform over the next one to three months, especially when paired with favorable Style Scores. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Style Score picture is mixed. JPM has a Momentum Score of A, but Value, Growth and VGM Scores of F. That combination points to stronger price-action support than broad style-based appeal, and it also means the current Zacks Rank can still change as estimate revisions move after the quarter.
OCBC’s Sim Moh Siong and Christopher Wong note that Silver has risen nearly 2%, outperforming Gold’s 1.2% gain on the back of a softer US Dollar (USD) and reduced Fed hike expectations after weak core Consumer Price Index (CPI). They highlight Silver’s higher sensitivity to monetary conditions and risk appetite, expecting larger two-way swings unless Fed tightening expectations ease more sustainably, with key support at 55 and resistance at 61.20.
Outperformance tempered by volatility risks"Silver rose nearly 2% alongside gold (about 1.2%), supported by the softer USD, some push back in Fed hike expectations after core CPI underwhelmed. The stronger rebound partly reflects silver’s higher sensitivity to shifts in both monetary conditions and investor risk appetite. Near term, silver may outperform gold if the USD and yields extend lower."
"But conviction remains limited as oil-driven inflation risks persist. Without a more sustained easing in Fed tightening expectations, silver is likely to remain prone to larger two-way swings, rather than move into a clean recovery trend. Silver last seen at 58.80 levels."
"Daily momentum and RSI have yet to offer a clean read at this point. Two-way trades likely. Support at 55 levels (recent low year-to-date) before 49."
"Resistance at 61.20 (21 DMA) needs to be taken out for momentum to gain traction. Failing which, silver may well revert to trade near recent lows."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
The British Pound (GBP) is up 0.1% at around 1.3403 against the US Dollar (USD) during the European trading session on Wednesday. The GBP/USD pair gains as the US Dollar comes under selling pressure, with market participants dialing down expectations for Federal Reserve (Fed) interest rate hikes.
In the European trade, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, has recovered its early losses and is marginally down to near 100.87. However, the DXY is still holding Tuesday’s losses.
According to the CME FedWatch tool, the odds of the Fed raising interest rates in the policy meeting this month have eased to 16.6% from 41.7% recorded on Monday.
Traders pare hawkish Fed bets as the United States (US) Consumer Price Index (CPI) report for June showed on Tuesday that both headline and core inflation grew at a slower-than-expected pace.
In the United Kingdom (UK), Andy Burnham is set to replace Prime Minister (PM) Keir Starmer on July 20 and will likely appoint a new Finance Minister (FM). The smooth UK leadership transition is supporting the British Pound.
GBP/USD technical analysis
GBP/USD trades slightly higher at around 1.3400, holding a mildly bullish near‑term bias as it remains above the 20‑period exponential moving average (EMA) at 1.3350. However, the overall trend appears sideways amid the Descending Triangle formation.
The Relative Strength Index (RSI) at 55.93 suggests steady, but not overextended, upside momentum.
On the downside, initial support is seen at the current price area around 1.3401, with the 20‑period EMA at 1.3350 reinforcing a nearby demand zone before the structural floor defined by the rising trend‑line break near 1.3166. On the topside, a sustained move above 1.3520, where the descending resistance trend line break level resides, would be needed to open the door for a more decisive bullish extension beyond the recent range. Above 1.3520, the pair could extend its advance towards 1.3600.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Inflation FAQs Inflation measures the rise in the price of a representative basket of goods and services. Headline inflation is usually expressed as a percentage change on a month-on-month (MoM) and year-on-year (YoY) basis. Core inflation excludes more volatile elements such as food and fuel which can fluctuate because of geopolitical and seasonal factors. Core inflation is the figure economists focus on and is the level targeted by central banks, which are mandated to keep inflation at a manageable level, usually around 2%.
The Consumer Price Index (CPI) measures the change in prices of a basket of goods and services over a period of time. It is usually expressed as a percentage change on a month-on-month (MoM) and year-on-year (YoY) basis. Core CPI is the figure targeted by central banks as it excludes volatile food and fuel inputs. When Core CPI rises above 2% it usually results in higher interest rates and vice versa when it falls below 2%. Since higher interest rates are positive for a currency, higher inflation usually results in a stronger currency. The opposite is true when inflation falls.
Although it may seem counter-intuitive, high inflation in a country pushes up the value of its currency and vice versa for lower inflation. This is because the central bank will normally raise interest rates to combat the higher inflation, which attract more global capital inflows from investors looking for a lucrative place to park their money.
Formerly, Gold was the asset investors turned to in times of high inflation because it preserved its value, and whilst investors will often still buy Gold for its safe-haven properties in times of extreme market turmoil, this is not the case most of the time. This is because when inflation is high, central banks will put up interest rates to combat it. Higher interest rates are negative for Gold because they increase the opportunity-cost of holding Gold vis-a-vis an interest-bearing asset or placing the money in a cash deposit account. On the flipside, lower inflation tends to be positive for Gold as it brings interest rates down, making the bright metal a more viable investment alternative.
The carrier's earnings come just days after its rival Delta Air Lines reported but the landscape for the sector has shifted dramatically in that short time.
PayPal, the struggling payments processor, rallied in premarket trade on Wednesday on a report that rival Stripe is teaming up with private-equity group Advent International on a bid.
PayPal's stock surged in premarket trading after reports emerged that Stripe and Advent International had offered to acquire the company for over $53 billion.
The offer, valued at $60.50 per share, represents roughly a 28% premium over PayPal's most recent closing price. Shares have traded as low as $38.46 over the past year, a steep comedown from PayPal's peak market capitalization near $343 billion in 2021.
So how did PayPal fall from a $343 billion valuation to being acquired for just $53 billion?
PayPal, one of the best-known in the fintech industry, has fallen from grace in the past few years. Its stock has plunged from the pandemic-era high of $300 to the premarket level of $54. Its market capitalization has plunged from $343 billion in 2021 to $53 billion today.
The decline has coincided with the broader weakness in the fintech sector, with many of its competitors being much lower than their all-time highs. Jack Dorsey’s Block has plunged from a high of $288 to $79 today, while Shift4 Payments fell from $127 to $50. SoFi stock has pulled back from $32.70 to $18.
Even traditional payment companies have struggled in this period. Mastercard stock has dropped by 2.27%, while Visa has risen by just 2.2% in the last 12 months.
The main reason behind this crash is that PayPal’s business is no longer growing as it did before. SeekingAlpha data shows that its annual revenue growth has slumped from 8.46% in 2022 to 4.32% last year. And analysts anticipate that its annual revenue will grow by 3.50% this year to $34 billion.
PayPal’s business has found substantial competition challenges across its branded and unbranded business in the past few years. Its branded business has faced competition from companies like Google, Amazon, and Apple.
Its unbranded business is also facing strong competition from other money processors globally.
At the same time, the company's strategy to pivot its business has not been particularly successful. A good example is the launch of its stablecoin business. Launched in 2023, PYUSD has grown to a market capitalization of just $2.58 billion, making it far smaller than USDC and USDT.
Similarly, its attempts to introduce new management have not been successful. It replaced Dan Schulman with Alex Chriss in 2023. After attempting to reinvigorate its growth, Chriss exited this year and was replaced by Enrique Lores, a former President and CEO of HP.
Stripe and Advent are said to have made a $53 billion bid for PayPal. Such a deal would make sense for them as PayPal is one of the most undervalued companies in Wall Street, with a forward PE ratio of 8.9, much lower than the S&P 500 average of 23. The two companies may decide to break PayPal apart, potentially by spinning off Venmo into an independent company.
The challenge, however, is whether PayPal will accept a buyout deal. If it does, it will demand a higher price than the $53 billion that the two companies have suggested. Also, there is a likelihood that more bidders will come in and place a higher offer, which will benefit existing shareholders.
PayPal jumped in premarket trading Wednesday after Stripe and Advent International reportedly made a joint offer to acquire the payments firm in a $53 billion deal.
Payments firm Stripe and private equity company Advent are planning to buy PayPal for $60.50 per share, Reuters reported Wednesday, citing two people familiar with the matter. The deal would value the payments company at more than $53 billion.
The offer was submitted earlier this month and includes roughly $50 billion in committed bank financing, valuing PayPal at a 28% premium to its closing share price on Tuesday, according to the report.
PayPal hasn't responded to the offer, which would see Stripe and Advent jointly own the company and hold equal stakes. The firms are hoping to progress discussions in the coming weeks.
PayPal was last trading 16% higher before the market opened, but its stock has declined 18% in the past year.
CNBC has reached out to PayPal, Stripe, and Advent International for comment.
PayPal's stock in the past year.
This is a breaking news story. Please refresh for updates.
The Travelers Companies, Inc. (NYSE:TRV) will release its second quarter earnings report before the opening bell on Friday, July 17.
Analysts expect the New York-based company to report quarterly earnings of $5.33 per share, down from $6.51 per share in the year-ago period. The consensus estimate for Travelers’ quarterly revenue is $10.99 billion. It reported $10.92 billion last year, according to Benzinga Pro.
On April 16, Travelers Companies reported better-than-expected first-quarter results.
Travelers shares fell 1.4% to close at $336.83 on Tuesday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
Considering buying TRV stock? Here’s what analysts think:
Photo via Shutterstock
Market News and Data brought to you by Benzinga APIs
International Business Machines (IBM 25.37%) just experienced one of the largest one-day declines in its history. That 25% drop on Tuesday came after CEO Arvind Krishna admitted that high capital expenditures on hardware had caused many companies to shift budgets away from software spending.
Such a sharp reaction from the market will understandably leave many investors wondering how to react. However, there are good reasons to treat this plunge as a buying opportunity.
Image source: The Motley Fool.
Why IBM sold off Admittedly, the negative reaction to Krishna's statement was understandable. According to IBM's preliminary Q2 results, the company's revenue grew by just 1% year over year. That is well below its 9% increase in Q1 and brought revenue growth down to levels comparable to where IBM was before Krishna shifted the company's focus to the cloud and AI.
Software is now IBM's largest business segment, accounting for almost 45% of the company's revenue in the first quarter. Additionally, the software segment's annual growth rate fell from 11% in Q1 to just 5% in Q2.
Moreover, while IBM still operates an enterprise hardware business, its infrastructure segment experienced a 7% annual revenue decline in Q2. Hence, it does not appear to have benefited from the boom in hardware spending.
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Why investors should stay confident Nonetheless, the one benefit to investors is that the drop in this tech stock seems to have instantaneously priced in this particular challenge. IBM's P/E ratio is now just 19, near its multiyear low. As recently as last fall, its earnings multiple was above 40, so this pullback represents a considerable discount.
Moreover, under Krishna's leadership, IBM's total returns have outpaced the S&P 500, indicating that he has earned investors' confidence during his six-year tenure as the head of the company.
IBM Total Return Level data by YCharts.
Also, not all of the news in the preliminary report was negative. Red Hat's year-over-year revenue growth in Q2 was 11%, indicating that bright spots remain in IBM's software business.
Furthermore, the U.S. government is betting billions on quantum computing, and IBM has long led the way in that technology. Amid its partnership with the government, IBM in May announced plans for the construction of Anderon, the first pure-play foundry to build quantum wafers.
In addition to the $2 billion investment in the foundry ($1 billion of which came from CHIPS Act funds), it plans to invest $10 billion in quantum technology over the next five years. Such investments greatly increase the odds that IBM will be a major player in a technology that's likely to drive innovation for years to come.
Buy IBM stock The struggles in the software sector and IBM's 1% revenue growth in Q2 are likely to continue weighing on the stock in the near term.
Fortunately, despite the sell-off, IBM stock has prospered under Krishna, and it appears that it is on track to continue outperforming in the longer term.
Additionally, the continued success of Red Hat and its investments in quantum computing should serve IBM well in the coming years. With this growth story now on sale at just 19 times earnings, Tuesday's stock price plunge could be a blessing in disguise for new investors.
Britain's competition regulator on Wednesday cleared eBay's planned takeover of fashion resale platform Depop, concluding an initial probe and removing a potential hurdle for the U.S.-based company in closing the deal.
TSMC is expected to deliver another record profit on Thursday, but investors may need more than strong headline numbers to push the stock higher.
The chipmaker reports at 2 AM ET on July 16. Analysts expect second-quarter net profit to surge 59% to NT$632.6 billion, which would mark a fifth consecutive quarterly record.
Revenue is already known: sales rose 36% to NT$1.27 trillion.
Yet TSMC’s US-listed shares have gained about 38% in 2026, leaving investors focused on third-quarter guidance and whether Nvidia’s next-generation Vera Rubin rollout remains on schedule.
TSMC’s second-quarter revenue narrowly exceeded the NT$1.264 trillion consensus compiled by LSEG, reinforcing the strength of demand for its most advanced manufacturing processes and chip-packaging services.
Any quarterly profit above NT$572.5 billion would set another company record.
The company previously forecast a gross margin of between 65.5% and 67.5%, alongside an operating margin of 56.5% to 58.5%.
Investors will examine whether stronger pricing and high factory utilisation allowed TSMC to reach the upper end of those ranges, particularly as overseas expansion costs continue to rise.
Dan Nystedt, a research analyst at investment firm TriOrient, told Reuters that the revenue performance showed AI demand remained healthy, supporting TSMC’s advanced-node production and chip-on-wafer-on-substrate, or CoWoS, packaging business.
Because TSMC has already disclosed its sales, Thursday’s share-price reaction will probably depend more heavily on profitability and management’s outlook.
Options markets imply that the US-listed stock could move roughly 5% in either direction by the end of the week. The shares closed Tuesday at $420.39.
TSMC manufactures Nvidia’s most advanced AI processors and provides the sophisticated packaging needed to combine GPUs with high-bandwidth memory.
That makes Nvidia’s annual product cadence an important driver of TSMC’s advanced-node utilisation and CoWoS demand.
KeyBanc analyst John Vinh recently flagged a slight delay to Nvidia’s Vera Rubin rollout, citing thermal heat-lid issues and delays involving HBM4 qualification.
The concern is not that demand has disappeared.
Rather, a later volume ramp could shift production and revenue between quarters at a time when investors expect AI growth to accelerate during the second half.
Vinh believes the financial impact should remain limited because Nvidia can compensate by shipping more B300 Blackwell systems.
He still expects Rubin shipments to begin ramping in July and forecasts deliveries of roughly 1.7 million to 1.8 million units during 2026.
KeyBanc retained an Overweight rating on Nvidia and raised its price target to $330 from $310.
Bank of America analyst Haas Liu said in a research note that supply-chain checks continued to indicate a strong AI demand pipeline.
He believes TSMC could raise its full-year revenue-growth outlook from the current forecast of more than 30%.
Capital expenditure will provide another important signal.
TSMC previously said its 2026 spending would reach the upper end of its $52 billion to $56 billion range.
Liu believes the company could lift that forecast to about $58 billion, reflecting tight equipment availability and capacity expansion across advanced logic, memory and packaging.
Nystedt, by contrast, expects management to retain the existing range.
A larger budget would signal confidence that demand from Nvidia, custom-chip designers and hyperscale cloud companies can remain strong.
Unchanged spending would not necessarily indicate weakness, although it could disappoint investors positioned for another upgrade.
Silver’s recovery lost momentum below the $60 mark this week despite softer-than-expected US inflation, highlighting a macro backdrop that has become less supportive than many investors anticipated. Ordinarily, a downside surprise in CPI would trigger a broader Dollar selloff and provide precious metals with a meaningful tailwind. This time, however, the Dollar’s decline proved relatively shallow and uneven, while buying interest in Silver remained subdued. Together, those factors have kept the metal trapped within its recent trading range and preserved a bearish near-term outlook.
The first headwind has been the Dollar itself. Although the Dollar Index initially fell following June’s weaker CPI report, it recovered a meaningful portion of those losses after Federal Reserve Chair Kevin Warsh reaffirmed the Fed’s commitment to restoring price stability while avoiding any dovish policy signals during his congressional testimony. The Dollar’s weakness was also concentrated in a handful of currencies with their own domestic catalysts, particularly the Canadian Dollar, supported by stronger oil prices and a more hawkish Bank of Canada outlook, and the New Zealand Dollar following hawkish comments from RBNZ Chief Economist Paul Conway. Against the Euro, Sterling, Swiss Franc and Yen, Dollar weakness was comparatively modest. Without a broad-based decline in the US currency, Silver has struggled to attract the sustained buying that typically follows softer US inflation.
Muted demand has reinforced that pressure. While positioning data are not yet available to confirm investor behavior, price action suggests opportunistic buying following the CPI release was considerably weaker than in previous episodes of Dollar weakness. The inability to reclaim the $60 level despite an ostensibly supportive inflation report indicates that buyers remain cautious, leaving the metal vulnerable if the Dollar regains strength or Treasury yields move higher again.
Beyond the immediate macro backdrop, Silver also faces a more structural challenge through industrial demand. The market is currently in its sixth consecutive annual supply deficit, but unlike many commodities, higher prices do not necessarily generate a meaningful increase in supply. Around 70% of global Silver production comes as a by-product of copper, lead and zinc mining, meaning output decisions depend primarily on those metals rather than Silver prices. New mine development also typically requires seven to ten years, leaving demand adjustment as the principal mechanism for balancing the market.
That demand adjustment may already be underway. China’s largest solar manufacturer, Longi Green Energy, has begun commercial production using copper-metallized solar cells, reducing reliance on Silver in one of the metal’s fastest-growing industrial applications. Given that the solar sector accounted for roughly 17% of global Silver demand last year, broader adoption of copper metallization could gradually weaken one of Silver’s most important structural demand drivers. The transition is unlikely to transform the market overnight, but it represents a notable shift in the long-term balance between supply and demand.
Technically, the outlook remains bearish while resistance at 63.25 caps upside. A break below 55.59 would resume the broader decline from the record high of 121.83 to o 76.4% retracement of 28.28 to 121.83 at 50.35, which is close to 50 psychological level.
Conversely, sustained break above 63.25 would delay the bearish scenario and extend the corrective rebound toward with another rising leg to 38.2% retracement of 89.37 to 55.59 at 68.49 instead.
Until the Dollar weakens more broadly, however, Silver appears increasingly vulnerable to another leg lower.
ActionForex
ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for two decades. We started providing only a daily and a mid-day report, now known as Action Insights. Gradually, we added a lot more in-house contents to the site. Technical Outlook section was expanded to cover more pairs. In addition to that, Top Movers, Heat Map, Pivot Point Charts and Pivot Meters, Action Bias and Volatility Charts, are tools used by traders from all over the world.
IBM stock suffered its worst one-day decline on record after the technology group admitted that customers were moving money away from its products and towards urgently needed data-centre infrastructure.
The stock plunged 25.2% to $217.07 on Tuesday, leaving it just above its 52-week low, after preliminary second-quarter revenue and profit missed Wall Street forecasts.
Yet Barclays analyst Saket Kalia sees a potential winner on the other side of that spending shift: network-security companies selling firewalls.
As per TipRanks, his industry checks identified Palo Alto Networks, Fortinet and Check Point as potential beneficiaries.
Palo Alto Networks is one of the world’s largest firewall providers and gives customers a broad portfolio spanning network, cloud and security operations products.
Its position makes it an obvious beneficiary when companies prioritise cybersecurity spending over less urgent software projects.
The stock climbed 6.8% to $352.89 on Tuesday as IBM’s warning drew attention to the resilience of security budgets.
Kalia’s analysis suggested that demand for firewall hardware was benefiting from the same urgency pushing companies to secure servers and memory before costs rise further.
The difficulty is valuation. TipRanks’ comparison tool showed no analyst-implied upside for Palo Alto at Tuesday’s closing level.
Its average 12-month target was $333.31, below the market price, despite a Strong Buy consensus.
Fortinet supplied Kalia with the strongest numerical evidence that customers are already buying more security hardware.
Its first-quarter product revenue jumped 41% from a year earlier to $645 million, while total revenue rose 20% to $1.9 billion.
Kalia pointed to that product strength as evidence that the shift was appearing in firewall sales rather than remaining a theoretical opportunity.
The company specialises in FortiGate firewalls and builds many of its own security processors, allowing it to offer high-performance appliances at competitive prices.
That could be particularly attractive when customers need greater network capacity to protect expanding AI infrastructure.
Fortinet shares gained 3.9% to a record $166.83 on Tuesday. But, like Palo Alto, the rally has overtaken the broader analyst consensus.
TipRanks listed an average target of about $117, while Barclays’ own latest target was $155 and TD Cowen recently raised its target to $215.
Check Point was the most modest gainer of the three, rising 2% to $137.02, but it offered the clearest valuation case.
The platform showed a Moderate Buy consensus and an average target of $148.36, implying almost 9% upside from the price used in its analysis.
The target was based on 12 Buy and 18 Hold ratings, with no Sell recommendations.
Check Point has traditionally been viewed as a slower-growing but profitable cybersecurity company.
That positioning could become more attractive if the current spending shift favours established firewall vendors without supporting the premium valuations attached to faster-growing rivals.
Still, Kalia included an important warning. The boost “could be temporary,” because companies may simply be bringing purchases forward to avoid supply constraints and higher prices.
Once that wave passes, the sector could experience a digestion period similar to the slowdown that followed pandemic-era technology spending.
Embedded offers are becoming a payment strategy, not just a marketing tool.
AI could shift cardholder loyalty by choosing payment methods for consumers.
Banks and credit unions have a limited window to modernize legacy offer models.
Watch more: Need to Know | FIS | Mladen Vladic
The next contest for cardholder loyalty may depend less on rewards programs than on whether consumers receive relevant offers before they decide how to pay.
That is the larger message emerging from research conducted by FIS® and PYMNTS Intelligence, according to FIS Head of Product, Payment Networks, Mladen Vladic. The findings point to a $42 billion opportunity tied to offers that never reach consumers at the moment they can influence spending.
The problem is not simply creating offers, Vladic said. It is delivering them in ways that match how consumers now shop and pay.
Legacy delivery models remain an obstacle. Consumers move between physical stores, digital commerce and mobile channels, while many offer programs still require manual activation or delayed statement credits. These processes create friction for consumers and make it harder for merchants to measure whether promotions actually drive incremental sales.
“There are some gaps in terms of how the industry is delivering on that today,” Vladic told PYMNTS in an interview. “The way that offers are being constructed and delivered, it’s really not matching the expectations of consumers.”
The challenge extends beyond convenience. In what Vladic described as a K-shaped economy, consumers pay close attention to opportunities that lower the cost of everyday purchases.
Rather than viewing embedded offers solely as discounts, Vladic said he believes financial institutions should think of them as engagement tools that strengthen relationships among consumers, merchants and payments providers. Better offers can influence payment choice while giving merchants another way to connect marketing spending to measurable results.
AI Changes the Definition of ‘Top of Wallet’ Technology is beginning to remove many of the barriers that have limited offer redemption. Real-time matching, tokenization and better attribution can replace manual processes with automated experiences that fit naturally into the payments journey.
“The technology is simply getting better in terms of the ability to do lookups in real time, do the matching, and then the presentment on the offer,” Vladic said.
Those improvements become even more important as agentic commerce develops. Vladic said he views artificial intelligence-powered purchasing as the next major commerce channel, one where agents make payment decisions using consumer preferences and permissions rather than brand loyalty alone.
“I think of agentic as the fourth major expansion when it comes to commerce,” Vladic said, listing physical transactions, eCommerce and mobile as the other three.
The emergence of agentic commerce changes what banks and credit unions must compete on. If AI selects the payment credential that delivers the best value, institutions will need to earn that recommendation through better experiences rather than relying on established customer habits.
Vladic said he believes financial institutions begin with an advantage because consumers trust them with financial data, but he cautioned that the lead may not last.
“This is a tremendous opportunity for our industry,” Vladic said. “But I also believe that it is a limited time opportunity because the rest of the industry players are very quickly going to catch up.”
His advice is straightforward. Waiting for perfect technology carries greater risk than learning through implementation, Vladic said.
“The key is for all participants and all brands to embrace the new technology,” Vladic said. “It’s a lot about iterating the models as we learn more and gain access to better technology.”
Watch the full interview with Mladen Vladic to learn more about:
Why better attribution could change how merchants allocate advertising budgets. How payment-linked offers differ from traditional loyalty and coupon programs. Why Vladic said he believes AI’s long-term utility matters more than today’s valuation debate. For all PYMNTS AI coverage, subscribe to the daily AI Newsletter.
Mladen Vladic is head of product, Payment Networks at FIS, where he leads product strategy for payment network solutions, with a focus on loyalty engagement, emerging commerce models and payment innovation.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in WDAY over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Shares of Rocket Lab (RKLB +2.67%) turned in a market-beating performance during the first six months of 2026, with shares jumping 46%, according to data provided by S&P Global Market Intelligence. That's more than four times the 10% gains of the S&P 500.
The rocket launch and satellite company has turned in back-to-back record-breaking quarters this year, and despite the stock's recent pullback, there could be more to come.
Image source: Getty Images.
Like a broken record Since the start of 2026, Rocket Lab has delivered two quarterly financial reports, and each was better than the last.
In February, the company reported record four-quarter results, as revenue climbed 36% year over year to $180 million, though its $53 million operating loss was essentially flat. Perhaps more importantly, however, was Rocket Lab's backlog, which jumped 73% year over year to $1.85 billion. Management's outlook called for additional growth for Q1, forecasting revenue of $193 million, up 57% at the midpoint of its guidance.
On the operational side, Rocket Lab pointed to a record 21 launches last year, boasting a 100% success rate, touting seven launches in the fourth quarter alone.
In May, the company provided another quarterly update, which -- like its previous report -- landed firmly in record-setting territory. For the first quarter, Rocket Lab generated record revenue that grew 63% year over year to $200 million, while its operating loss improved 5% to $56 million. The company's backlog of $2.2 billion surged 106% year over year and 20% quarter over quarter.
Rocket Lab announced an important milestone, noting that it had sold more launches in Q1 than it had in all of last year combined. Its total launch manifest now totals 70 contracted missions.
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More to come? It's worth noting that Rocket Lab received a temporary boost from the Space Exploration Technologies (SpaceX) IPO, though the initial excitement has since faded. Investor sentiment aside, there is plenty of evidence to suggest that Rocket Lab stock will climb to greater heights.
For the upcoming second quarter, management's forecast calls for revenue of roughly $233 million at the midpoint of its guidance, which would represent year-over-year growth of 61%.
The company's $8 billion acquisition of Iridium positions Rocket Lab as an end-to-end space company, fulfilling another of its long-term ambitions.
Wall Street is firmly in the company's corner. Of the 16 analysts who have published an opinion, 81% rate the stock a buy or strong buy, and none recommend selling. Moreover, Rocket Lab has an average price target of $117, suggesting potential gains for investors of 61% compared to Tuesday's closing price.
Add to that Rocket Lab's track record of robust results, recent expansion, and its growing backlog, and it's easy to see how this space stock could fly even higher.
AUDUSD (The Australian dollar) remained choppy as consumer confidence jumped out of negative territory.
• As the pair searches for a recovery to the previous swing high at 0.6980, a bearish RSI divergence could signal a halt to the potential rally.
• 0.6960 is the first level to expect some resistance after the recent announcement.
• Further down, 0.6880 at the bottom of the latest bounce is the first layer of support if price action turns around.
• A full reversal can take shape back towards 0.6840 if bears remain in the market.
XAUUSD steadily sinking
Gold continues to be pressured as price action looks to break through the 4000 level.
• On the chart, the metal continues to grind lower after dropping over $100 in just a few short sessions.
• Bulls will need to lift 4120 and then 4190 to make the rebound count.
• Otherwise, renewed selling could send the price below 3930.
UK100 finding support
The index market across the board looks for a reprieve as energy prices are expected to rise.
• The FTSE 100 hit another low after last week’s sell-off.
• 10350 is a key level to keep the index afloat, as its breach could trigger a further continuation lower.
• Bulls will need to clear 10600 to put the index back on track as the RSI moves away from the oversold area, potentially causing a bullish divergence in the process.
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OpenAI připravuje svůj první významný spotřebitelský hardware. Nepůjde však o klasický telefon ani chytrý reproduktor, nýbrž o nové domácí zařízení postavené od základu pro éru umělé inteligence, které má fungovat jako osobní digitální společník a centrum chytré domácnosti. Informuje o tom agentura Bloomberg s odvoláním na zdroje obeznámené s projektem.
Produkt je zatím ve vývoji a společnost jeho existenci oficiálně nepotvrdila, interně je ale popisován jako nový typ domácího počítače, který staví na schopnostech ChatGPT a pokročilých hlasových technologiích. Zařízení má komunikovat přirozeným způsobem, odpovídat na dotazy, přehrávat hudbu, pracovat se zprávami či pomáhat s ovládáním připojených domácích spotřebičů.
Pro OpenAI jde o významný strategický krok. Firma, která se stala jedním z hlavních tahounů současného boomu umělé inteligence, chce rozšířit své působení ze softwaru také do oblasti hardwaru. Tím by se dostala do přímější konkurence s technologickými giganty jako jsou Apple, Amazon nebo Google.
Vstup do segmentu zařízení však provázejí i právní komplikace. Minulý týden OpenAI zažaloval právě Apple s tvrzením, že společnost využívala obchodní tajemství související s vývojem budoucích produktů výrobce iPhonů. Podle zdrojů Bloombergu je však připravované zařízení natolik odlišné od produktů Applu, že společnost nepředpokládá porušení cizího duševního vlastnictví.
Hlubší porozumění
Hlavní ambicí OpenAI není vytvořit další chytrý reproduktor, ale zařízení, které bude postupně budovat hlubší vztah se svým uživatelem. Určujícím rysem produktu zkrátka bude jeho osobnost a schopnost spojit se s uživatelem na lidské úrovni.
Podle zdrojů má zařízení časem rozumět zvyklostem svého majitele, předvídat jeho potřeby a samo nabízet relevantní informace ještě předtím, než o ně uživatel požádá. OpenAI věří, že právě tato úroveň personalizace by mohla představovat zásadní odlišení od dnešních hlasových asistentů.
Významnou roli má hrát osobnost samotného zařízení. Produkt bude obsahovat pohyblivé mechanické prvky, které mají posílit dojem, že se jedná o „živého“ společníka, nikoliv pouze o pasivní elektroniku reagující na povely. K lepšímu pochopení uživatele by systém mohl využívat také osobní data, například obsah e-mailů nebo další informace, ke kterým dá majitel souhlas.
Jinými slovy, cílem je vytvořit fyzickou podobu ChatGPT v domácnosti a nabídnout zkušenost, která se bude více blížit komunikaci s člověkem než s běžným softwarem.
Nová hlasová technologie
Klíčovou součástí připravovaného zařízení má být pokročilá verze hlasového režimu ChatGPT označovaná jako GPT-Live. Technologie umožňuje plynulejší konverzaci, umí současně poslouchat i mluvit a přizpůsobovat se průběhu dialogu výrazně přirozenějším způsobem než dosavadní hlasoví asistenti.
Přestože výsledný produkt bude vzhledem připomínat reproduktor, OpenAI jej údajně nepovažuje za zařízení spadající do této kategorie. Interně jej popisuje jako nový druh počítače navrženého speciálně pro práci s umělou inteligencí a pro zvýšení osobní produktivity, vysvětluje Bloomberg.
Součástí hardwaru má být kamera a další senzory umožňující vyhodnocovat okolní prostředí a aktuální kontext uživatele. Zařízení se tak nebude spoléhat pouze na hlasové příkazy, ale bude schopné chápat situace ve svém okolí a podle nich reagovat.
Další důležitou vlastností má být integrovaná baterie. Uživatel nebude odkázán na jedno místo v domácnosti a zařízení bude možné během dne snadno přenášet mezi jednotlivými místnostmi. Může asistovat při vaření v kuchyni, pomáhat během domácích prací nebo sloužit jako hudební centrum v obývacím pokoji. Zároveň bude možné ponechat ho trvale zapojené na jednom místě.
Stovky pracovníků z Applu
Za hardwarovou strategií OpenAI stojí také rozsáhlé investice do vlastního vývoje. Společnost loni zaplatila 6,5 miliardy dolarů za startup io Products, který spoluzaložil slavný designér Jony Ive, dlouholetý autor ikonických produktů Applu.
Na vývoji nové produktové řady pracuje rovněž Iveho studio LoveFrom. Projekt podporuje řada bývalých designérů a inženýrů Applu, kteří se v minulosti podíleli například na vývoji iPhonu nebo počítačů Mac.
Významnou postavou je Tang Tan, někdejší šéf produktového designu iPhonu a nynější hardwarový ředitel OpenAI. Právě jeho Apple ve své žalobě obvinil z organizování aktivit zaměřených na získávání důvěrných informací o budoucích produktech společnosti. Lidé, kteří s Tanem spolupracovali, ho však popisují jako schopného manažera s hlubokými zkušenostmi v oblasti vývoje produktů a dodavatelských řetězců.
Apple ve své žalobě uvádí, že OpenAI zaměstnala více než 400 bývalých pracovníků firmy. Kromě Tana a Iva se na vývoji podílí například Evans Hankeyová, někdejší šéfka průmyslového designu Applu. Nedávno OpenAI získala také Paula Meada, který se v Applu podílel na vývoji headsetu Vision Pro a dalších budoucích zařízení rozšířené reality.
OpenAI odmítá, že by při vývoji využívala obchodní tajemství konkurence. Společnost uvedla, že nemá zájem o důvěrné informace jiných firem a že žalobu nepovažuje za podloženou dostupnými důkazy.
Apple naopak tvrdí, že rozsah přesunů zaměstnanců a rychlost vývoje nových produktů vyvolávají otázky, které si zaslouží prošetření. Zároveň ale připouští, že až soudní proces a fáze dokazování ukážou, zda skutečně došlo k využití chráněných technologií.
Právní spor může mít dopad i na načasování uvedení nového produktu. Apple totiž usiluje o soudní zákaz prodeje připravovaných hardwarových zařízení OpenAI, což by mohlo komercializaci oddálit, informuje Bloomberg.
Podle zdrojů OpenAI pracuje přibližně na pěti různých hardwarových produktech. Chytrý domácí společník má být prvním, který se dostane na trh. Představení by mohlo proběhnout ještě letos, samotný prodej je zatím plánován na příští rok.
Do budoucna firma zvažuje i mobilní AI zařízení, které by jednou mohlo nahradit dnešní chytré telefony, nositelná elektronika včetně přívěsku na krk nebo řešení z oblasti domácí robotiky.
Výrobce litografických zařízení ASML zveřejnil výsledky hospodaření za 2Q 2026. Tržby, marže i zisk překonaly očekávání, a to zejména díky vyšším tržbám ze správy instalované základny. Společnost podruhé v letošním roce zvýšila výhled tržeb a hrubé marže na celý rok a představila plány navýšení výrobních kapacit pro roky 2027 a 2028. Hlavním tahounem je pokračující poptávka spojená s umělou inteligencí, která podle managementu vede zákazníky k urychlování investičních plánů. Analytici hodnotí zprávu převážně pozitivně.
Výsledky společnosti ASML (ASML) za 2Q 2026 2Q 2026 Konsensus 2Q 2026 2Q 2025 Tržby (mld. EUR) 9,33 8,85 7,69 Čistý zisk (mld. EUR) 2,92 2,64 2,29 Zisk na akcii (EPS, EUR/akcie) 7,58 -- 5,90 Výsledky za 2Q Společnost ASML zaznamenala za 2Q tržby ve výši 9,33 mld. EUR, což představuje mezikvartální růst o 6,4 %.
ASML rozlišuje tržby ze 2 segmentů, jsou jimi systémy (high-tech zařízení na výrobu čipů) a služby a terénní operace. Tržby ze segmentu systémů dosáhly 6,56 mld. EUR, přičemž průměrný analytický odhad činil 6,34 mld. EUR. Podíl Číny na tržbách v tomto segmentu klesl na 14 % z 19 % v předchozím kvartále. Největšími trhy byly Jižní Korea a Tchaj-wan. Tržby ze segmentu služeb a terénních operací byly 2,76 mld. EUR. Trh predikoval 2,49 mld. EUR.
Hrubá marže dosáhla 54 % při očekávání 52 %. Mezikvartálně vzrostla o 1 p. b. a překonala i výhled samotné společnosti, primárně díky vyšším než očekávaným tržbám ze správy instalované základny.
Výdaje na výzkum a vývoj byly 1,28 mld. EUR.
Provozní zisk dosáhl 3,46 mld. EUR při očekávání 3,07 mld. EUR. Provozní marže činila 37,1 % (konsensus 34,7 %).
Hotovost a ostatní prostředky činily na konci kvartálu 7,58 mld. EUR, přičemž odhad byl 8,51 mld. EUR.
Celkový počet dodaných litografických systémů činil 91 jednotek (z toho 86 nových a 5 použitých), přičemž průměrný odhad byl 86. Z toho 16 systémů EUV, 23 ArFi, 8 ArFdry, 35 KrF a 9 I-Line.
Rozdělení prodejů systémů (čtvrtletní), zdroj: ASML
Společnost současně oznámila, že Intel jako první v odvětví zahájil sériovou výrobu logických čipů s využitím nejpokročilejší technologie High-NA EUV. Na uzlu Intel 18A jsou pomocí těchto strojů vyráběny vybrané vrstvy části procesorů Core Ultra řady 3 (Panther Lake).
Výhled a kapacitní plány Ve třetím kvartále ASML očekává:
Tržby v rozmezí 11,0 až 12,0 mld. EUR. Konsensus činil 10,27 mld. EUR. Hrubou marži ve výši 55 až 57 %. Očekávalo se 52,5 %. Výdaje na výzkum a vývoj přibližně 1,2 mld. EUR. V celém roce 2026 poté společnost nově odhaduje:
Tržby ve výši 43 až 45 mld. EUR. Dosavadní výhled činil 36 až 40 mld. EUR, konsensus Wall Street byl 39,3 mld. EUR. Hrubou marži ve výši 54 až 56 %. Dosavadní výhled činil 51 až 53 %, očekávalo se 52,5 %. Management dále představil kapacitní plány na následující roky. K letošní kapacitě přibližně 65 low-NA EUV strojů plánuje pro rok 2027 přidat 30 % (tedy na zhruba 85 systémů) a zvažuje navýšení o dalších 30 % pro rok 2028 (na přibližně 110 systémů). Obdobně hodlá o 30 % rozšířit letošní kapacitu cca 130 DUV imerzních strojů pro rok 2027 a prověřuje další 30% navýšení v roce 2028.
Návrat kapitálu akcionářům ASML plánuje vyplatit průběžnou dividendu za rok 2026 ve výši 1,88 EUR na akcii. Ve 2Q společnost zpětně odkoupila své akcie za přibližně 1,1 mld. EUR.
Komentář CEO „Naše celkové tržby za druhé čtvrtletí činily 9,3 mld. EUR a hrubá marže dosáhla 54,0 %, obojí nad úrovní našeho výhledu, primárně díky vyšším než očekávaným tržbám ze správy instalované základny. Pokračující investice související s AI a další pokrok v AI technologiích pohánějí poptávku po pokročilých logických a paměťových čipech a dále posilují růstový výhled polovodičového průmyslu. Naši zákazníci v reakci na to nadále urychlují své plány rozšiřování kapacit. To se promítá do zákaznických závazků napříč naším produktovým portfoliem a dává nám větší viditelnost dlouhodobější poptávky. Příjem objednávek zůstal v prvním pololetí extrémně silný,“ uvedl generální ředitel Christophe Fouquet.
Pohled analytiků Analytik Simon Coles z Barclays uvedl, že ASML dala investorům velkou část toho, co chtěli vidět. Kapacitní výhled pro low-NA EUV na roky 2027 a 2028 by podle něj měl utlumit debatu o tom, zda je firma omezena na straně nabídky. Objednávky low-NA EUV strojů mohly podle analytika v prvním pololetí dosáhnout rekordních až 22 mld. EUR.
Analytik Sandeep Deshpande z JPMorgan odhaduje, že kapacitní výhled pro rok 2028 implikuje zisk na akcii přes 65 EUR, s dalším potenciálem díky velmi silným tržbám ze správy instalované základny. Společnost sice pro rok 2027 negarantuje 90 EUV strojů, to by však podle analytika nemělo hrát roli vzhledem k výrazně silnějšímu než očekávanému kapacitnímu výhledu pro EUV a DUV na rok 2028.
Analytik Janardan Menon z Jefferies označil výhled za smíšený. Pozitivně hodnotí silný růst tržeb ze správy instalované základny a hrubých marží, kapacitu EUV pro rok 2027 však považuje za nepřesvědčivou a pod úrovní tržních očekávání, která v poslední době prudce vzrostla. Podle obchodního oddělení Goldman Sachs optimističtí investoři počítali s dodávkami 110 až 120 low-NA EUV strojů v roce 2028.
Akcie ASML
Akcie ASML (ASML) přidávají 4,3 % na 1 622,8 EUR Ukazatel Ukazatel Kapitalizace (mld. EUR) 629,9 P/E 58,8 Vývoj za letošní rok (%) +76,1 Očekávané P/E 50,8 52týdenní minimum (EUR) 587,8 Prům. cílová cena (EUR) 1756 52týdenní maximum (EUR) 1741 Dividendový výnos (%) 0,5 Zdroj: ASML, Bloomberg
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The GBP/JPY cross scales higher for the second straight day and climbs to a fresh weekly top, around the 217.70 region, during the first half of the European session on Wednesday. Moreover, spot prices remain within striking distance of the highest level since January 2008 and seem poised to appreciate further amid a supportive fundamental backdrop.
Despite looming intervention risks, the Japanese Yen (JPY) continues with its relative underperformance on the back of the wide gap in borrowing costs between Japan and other major economies, including the UK. The Bank of Japan (BoJ) raised the short-term policy rate in June to 1% or, the highest level since 1995, while the Bank of England's (BoE) base rate sits at 3.75%. This leaves an approximate gap of 275 basis points (bps), which keeps the so-called JPY carry trade active and continues to act as a tailwind for the GBP/JPY cross.
Meanwhile, Japan's economy is highly vulnerable to energy supply disruptions in the Strait of Hormuz as it relies on the Middle East for over 90% of crude oil imports. The closure of the critical waterway, along with a further escalation of tensions between the US and Iran, turns out to be another factor undermining the JPY. The British Pound (GBP), on the other hand, benefits from fading UK political uncertainty, hawkish BoE signals, and modest US Dollar (USD) weakness. This validates the positive outlook for the GBP/JPY cross and favors bulls.
Speaking before the Treasury Select Committee, BoE Governor Andrew Bailey warned on Tuesday of the potential effects of the resumption of the US-Iran conflict and that the event has demonstrated that inflation has not eased enough. Traders were quick to fully price in at least one 25 bps rate increase by year-end, and a possible first hike as early as September. This, in turn, suggests that the path of least resistance for the GBP/JPY cross is to the upside, and any corrective pullback is more likely to be seen as an opportunity for bullish traders.
Pound Sterling FAQs The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE).
The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates. When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects.
Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP. A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall.
Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
Commodity-linked currencies strengthened after US inflation data came in weaker than expected. The Consumer Price Index (CPI) slowed to 3.5% year-on-year in June, below the 3.8% forecast, while core inflation eased to 2.6% versus expectations of 2.8%. On a monthly basis, headline CPI unexpectedly fell by 0.4%, while core CPI was unchanged. The moderation in inflationary pressure increased expectations that the Federal Reserve may adopt a more accommodative policy stance, putting pressure on the US dollar and supporting both the Australian and Canadian dollars against the greenback.
However, despite the weaker US dollar, the next move in USD/CAD will largely depend on the Bank of Canada’s policy decision. Later today, the central bank will announce its interest rate decision, publish its updated Monetary Policy Report, and hold a press conference with the Governor. If policymakers maintain a cautiously hawkish tone on inflation, the Canadian dollar could receive additional support. Conversely, a more dovish message may limit CAD gains despite the broader weakness in the US dollar.
Market participants will also focus on the release of the US Producer Price Index (PPI), which will provide further insight into inflation trends following the softer CPI report. In addition, US crude oil inventory data could influence USD/CAD, as oil prices traditionally have a significant impact on the Canadian dollar.
AUD/USD The AUD/USD pair continues to develop the bullish engulfing reversal pattern. Yesterday, buyers managed to test the key resistance level around 0.7000. If the pair secures a sustained break above this level, the rally could extend towards the 0.7080–0.7130 area. The bullish scenario would be invalidated by a move below 0.6900.
Key events for AUD/USD:
Today at 14:00 (GMT+3): US MBA Mortgage Market Index Today at 15:30 (GMT+3): US Producer Price Index (PPI) Today at 15:45 (GMT+3): Speech by FOMC member John Williams
USD/CAD Following confirmation of the bearish tower top reversal pattern, selling pressure on USD/CAD intensified, reinforced by the weaker-than-expected US inflation data. As a result, the pair declined below 1.4100. Technical analysis suggests there is scope for a further move lower towards the 1.3960–1.4020 area. A decisive break back above 1.4120 could revive the bullish outlook.
Key events for USD/CAD:
Today at 16:45 (GMT+3): Bank of Canada interest rate decision Today at 17:30 (GMT+3): US Crude Oil Inventories Today at 17:30 (GMT+3): Bank of Canada press conference
Overall, the weaker US inflation report strengthened expectations of a more accommodative Federal Reserve, weighing on the US dollar and supporting commodity-linked currencies. However, the next moves in AUD/USD and USD/CAD will depend on upcoming economic data and the Bank of Canada’s policy guidance.
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CAMBRIDGE, Mass.--(BUSINESS WIRE)--Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNAi therapeutics company, today shared advances across its growing neuroscience portfolio at the Alzheimer's Association International Conference (AAIC) 2026. This scientific progress underscores the potential of RNAi therapeutics to address the needs of patients with debilitating neurological diseases. Mivelsiran: An investigational RNAi therapeutic targeting amyloid precursor protein (APP) in develop.
GBP/USD rose to 1.3403 on Wednesday, with British politics taking centre stage for investors.
The market is assessing the upcoming change of prime minister, with Andy Burnham set to take office on 20 July. Of additional interest is the potential candidate for the new Chancellor of the Exchequer. In betting markets, Ed Miliband is considered the favourite, whom investors perceive as a supporter of more active fiscal spending.
At the same time, market participants are monitoring escalating tensions in the Middle East, rising oil prices, and increased inflation risks. The United States has continued its strikes on Iran following Donald Trump’s restoration of a naval blockade on Iranian shipping and his proposal for a 20% fee to cover the costs of securing the Strait of Hormuz.
Against this backdrop, markets have strengthened expectations of further rate hikes from the Bank of England. Investors are now almost fully pricing in two rate increases in 2026, with a September hike already largely reflected in quotes.
In the US, weaker-than-expected inflation data for June has eased pressure on the Federal Reserve. However, Christopher Waller warned that the regulator could tighten policy again if inflation remains above the 2% target.
Technical Analysis
On the H4 GBP/USD chart, the market is shaping a growth wave towards 1.3451. A wide consolidation range is practically forming around the 1.3393 level. An upside breakout from this range would open potential for the wave to continue to 1.3453. A downside breakout would suggest the potential for the wave to continue to 1.3333, with the prospect of the trend extending to 1.3090. Technically, this scenario is confirmed by the MACD indicator, whose signal line is above the zero level and pointing strictly downwards.
On the H1 chart, the market has formed a compact consolidation range around the 1.3400 level, currently extending down to 1.3370. An increase to 1.3451 is expected, followed by a decline to 1.3330. Technically, this scenario is confirmed by the Stochastic oscillator, with its signal line below the 80 level and pointing strictly downwards to 20.
Conclusion GBP/USD has edged higher as markets focus on the upcoming UK political transition, with Andy Burnham set to become prime minister on 20 July. The potential appointment of Ed Miliband as Chancellor-seen as favouring more active fiscal spending-adds an element of intrigue. Meanwhile, geopolitical tensions in the Middle East, including renewed US strikes on Iran and a proposed 20% fee for securing the Strait of Hormuz, have pushed oil prices higher and reinforced Bank of England tightening expectations. Markets are now pricing in two rate hikes for 2026, with September already priced in. In the US, softer inflation data has eased pressure on the Fed, though officials remain vigilant. Technically, the pound may see further upside towards 1.3451 before a potential pullback, with the broader direction hinging on UK political developments and geopolitical risks.
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Space Exploration Technologies' (SPCX 2.20%) IPO was the hottest ticket of the year, and if you didn't get a piece, the fear of missing out is real.
But here's something the frenzy overlooked: You don't need SpaceX to invest in space. A handful of established industrial giants are cashing in on the same boom, and they come with steadier businesses and, in most cases, a dividend check while you wait. There's a powerful tailwind behind them, too -- the U.S. government's push to build a space-based missile shield known as Golden Dome, which is funneling tens of billions of dollars toward satellites, sensors, and rockets.
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1. Lockheed Martin: The space and defense anchor Lockheed Martin (LMT 1.09%) is about as close to a one-stop shop for national-security space as you'll find. It builds satellites, missile-warning systems, and the Orion crew capsule, and late last year it won a roughly $1.1 billion award to deliver 18 missile-tracking satellites for the Space Force. It's also positioned at the center of the Golden Dome effort.
This is the blue chip way to own the government side of the space race.
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2. Northrop Grumman: Satellites and the propulsion nobody sees Northrop Grumman (NOC 2.48%) is deep in the same satellite constellations, having won its own multi-hundred-million-dollar Space Force awards, with a batch of its data-relay satellites slated to begin launching this year.
What I find underappreciated is its propulsion business: Northrop makes solid rocket motors that power missiles and launch vehicles across the industry, so it profits no matter whose rocket flies.
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3. L3Harris Technologies: The sensor specialist L3Harris Technologies (LHX +0.52%) rounds out the group that split the Space Force's latest missile-tracking satellite contract, and its real strength lies in the sensors and payloads that enable those satellites to actually spot a threat. The company has been sharpening its focus lately, agreeing to sell a majority stake in its space-propulsion arm to concentrate on the electronics and space systems where it has an edge. For a Golden Dome built on detection, that's a smart place to sit.
4. RTX: Missiles, sensors, and a missile-defense windfall RTX (RTX 1.53%), parent company of Raytheon and Collins Aerospace, is one of the largest defense contractors on Earth, and missile defense is squarely in its wheelhouse. The interceptors and radars that would form the lower layers of a system like Golden Dome are the kind of hardware RTX has made for decades. Its aerospace arm also supplies components across satellites and spacecraft, giving it broad, if less pure, space exposure.
Image source: Getty Images.
5. Boeing: The direct launch competitor Boeing (BA +0.74%) is the wild card here, and I'll be candid: It's the most troubled company on this list. But it co-owns United Launch Alliance, whose Vulcan rocket competes head-to-head with SpaceX for the most sensitive national-security launches, and it retains a large defense and space portfolio.
If you believe the government wants more than one launch provider, and it clearly does, Boeing offers direct exposure to that rivalry, provided you can stomach its ongoing turnaround risk.
The takeaway worth understanding Now the honest counterweight: None of these companies is a substitute for SpaceX in terms of growth. They're large, mature businesses where space is only one slice of the pie, so a satellite win rarely moves the whole stock the way it might for a pure play.
Their fortunes also lean heavily on government budgets, and programs like Golden Dome depend on appropriations that politics can slow, shrink, or reroute. Defense primes can also trade at rich valuations when geopolitical worries run hot, as they do now.
If you're chasing SpaceX-style rocket-ship returns, these steady industrials won't scratch that itch. But if what you actually wanted was durable exposure to the money pouring into space and missile defense, this group delivers it without the hype.
My honest suggestion is to treat them as the sensible, lower-drama way to invest in the theme and lean toward the names with the clearest space and Golden Dome tailwinds rather than buying all five indiscriminately.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
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US Dollar News: Softer Inflation Reshapes Fed Outlook The evolving monetary policies, particularly with the release of June’s inflation numbers in the United States, are causing shifts in the value of the dollar, sterling and the euro. U.S. annual inflation for July fell to 3.5% from June’s 4.2%, with core inflation also falling, to 2.6%. This caused a rapid decrease in the projected likelihood of a July 28-29 Federal Reserve interest rate hike. Demand for U.S. futures implied only a 10% likelihood of a July hike. Earlier estimates placed U.S. interest rate hikes at a 35% probability, indicating the bulk of interest rate conjecture has moved to September.
The euro has risen in value with speculation that the European Central Bank will keep the deposit rate at 2.25% and also Curb inflation and growth in the euro region.
The pound also remains strong as it is expected the Bank of England will continue to err on the side of caution. U.K. inflation has also been little influenced by renewed Middle Eastern conflict. Governor Andrew Bailey remains focused on other economic data.
US Dollar Index Technical Analysis: Is DXY Building Momentum for a Move Toward $101.22? Dollar Index Price Chart – Source: Tradingview The US Dollar Index (DXY) is hovering around the 100.88 mark, consolidating above the 0.50 Fibonacci retracement at $100.59 and the 50 EMA at $100.23. The 100 EMA at $99.66 is helping the uptrend. The last few DXY candlesticks display small bodies showing consolidation below $101.22, right after the bullish breakout from the previous descending triangle. $100.88 is the 0.382 Fibonacci level and is providing immediate support, while resistance sits at $101.22 and $101.79 respectively.
The RSI is at approximately 53, above the midpoint, and is showing a decrease in bullish momentum, but the uptrend is still there. As long as we observe DXY above $100.59, we can expect another attempt to reach $101.22, but if that fails, we may see $99.85.
GBP/USD Technical Analysis: Can the Rising Channel Extend the Rally Above $1.3450? GBP/USD Price Chart – Source: Tradingview GBP/USD is currently trading around 1.3405 and stays well within the confines of a rising channel on the 4 hour time frame. Price is above both the 50 EMA at 1.3370 and the 100 EMA at 1.3340 indicates that traders are still dominating the buying side of the market. Recent rejections of the 1.3400 support level have resulted in the formation of higher lows along the rising channel line. The most immediate resistance is found at 1.3453, while 1.3508 is a secondary resistance level.
The most significant support level is at 1.3342. The RSI is at 56 and indicates a bullish market, while the RSI is not at the overbought zone. Based on this market analysis I will be looking for buying opportunities above the 1.3400 level, the target being 1.3453 and with a break below the 1.3342 level the buy side market structure will be broken and this will be an indication of potential reversal in the market.
EUR/USD Technical Analysis: Will the Symmetrical Triangle Trigger the Next Breakout? EUR/USD Price Chart – Source: Tradingview EUR/USD is priced at 1.1423 and is forming a symmetrical triangle on the 4-H chart. The price is around the 50 EMA at 1.1420 but is below the 100 EMA at 1.1435. This shows that buyers and sellers have not taken control of the market. The latest candlesticks show small bodies and long wicks suggesting indecision as the triangle’s apex is approached.
The first nearby resistance is at 1.1461, and the first nearby support is at 1.1412, then 1.1379. The RSI is at 51 and shows no market pressure, which supports consolidation. Given this analysis, I would prefer to see a confirmed breakout beyond 1.1461 with targets set at 1.1493. However, if the price closed below 1.1412, the target would be 1.1379.
US Treasury Secretary Scott Bessent announced that the US government ordered the freezing of more than $130 million in cryptocurrency held in wallets associated with Iran, in response to escalating tensions in the Middle East.
Wallet freeze targets Iran’s Central BankBlockchain investigator Specter earlier identified onchain data showing that stablecoin issuer Tether froze four Tron blockchain wallets containing a total of $131 million worth of USDt (USDT). Bessent confirmed that these wallets were linked to the Central Bank of Iran.
Mini dictionary: Tron, a blockchain platform focused on high-throughput and scalable decentralized applications, supports USDT (Tether) token issuance and transactions. Tether is a popular stablecoin pegged to the US dollar, widely used in cryptocurrency trading and payments.
Bessent emphasized the Treasury Department’s efforts to counteract Iran’s financial activities using digital assets. He stated, “US Treasury is committed to disrupting and degrading Iran’s illicit financial activities, including its abuse of digital assets.” He added that authorities will continue tracing and blocking funds to prevent the Iranian government from accessing income generated via illicit operations.
“We will continue to aggressively follow the money and deny the Iranian regime access to the proceeds of its illicit revenue schemes.”
Ongoing pressure campaign against IranThe asset freeze coincided with the breakdown of a ceasefire between the US and Iran. Washington renewed its blockade of Iranian ports, while the US Central Command reported a new wave of military strikes on targets in Iran. On the same day, Iranian defense sources claimed to have conducted drone operations against American military facilities at Jordan’s Al Azraq Air Base.
This is not the first time the US government has coordinated with Tether on such actions. In April, Tether stated it froze over $344 million in USDT at the request of US authorities, as part of broader measures targeting Iran’s access to international financial systems.
MonthFrozen Amount (USDT)Initiated byApril$344 millionTether, US authoritiesJune$131 millionTether, US TreasuryOperation Economic Fury expands seizuresBessent earlier reported in May that the US had seized around $1 billion in Iranian crypto assets since the introduction of Operation Economic Fury, a financial pressure campaign begun in March 2025.
He described the ongoing initiative as a comprehensive effort targeting procurement networks supplying the Iranian military. “Through Economic Fury, the Treasury Department is disrupting the foreign procurement networks that support the Iranian military’s efforts to acquire weapons,” Bessent stated in June.
Treasury has frozen the Iranian regime’s assets, severely disrupted its economy, and dismantled the Iranian war machine. Treasury will not tolerate any support of the Iranian military.
TRM, an analytics firm specializing in blockchain forensics, reported that entities linked to Iran moved $3.8 billion in crypto through CoinEx, a global cryptocurrency exchange, as part of operations scrutinized under the ongoing sanctions framework.
Mini dictionary: TRM Labs is a blockchain intelligence company that analyzes cryptocurrency transactions to detect financial crime, money laundering, and sanction violations.
US authorities have repeatedly signaled that digital assets will remain a focus in efforts to clamp down on Iranian financial networks, with further actions possible as hostilities continue.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
The NZD/USD pair holds steady above the 0.5800 mark through the early European session on Wednesday and, for now, seems to have stalled the previous day's late pullback from a nearly one-month high, around the 0.5845 zone. The latter also marks a confluence hurdle – comprising the 200-day Simple Moving Average (SMA) and the 61.8% Fibonacci retracement level of the May-June downfall – and should act as a key pivotal point for short-term traders.
Looking at the broader picture, the NZD/USD pair now seems to have found acceptance above the 50% retracement level and seems poised to extend the recent recovery from the 0.5625 area, or the year-to-date low touched in June. Meanwhile, the Moving Average Convergence Divergence (MACD) is in positive territory, and the Relative Strength Index (RSI) is hovering near 60. This validates the near-term constructive outlook and backs the case for additional gains.
That said, bulls might still need to wait for a sustained move beyond the 0.5845 confluence hurdle before placing fresh bets, as escalating US-Iran tensions might continue to act as a tailwind for the US Dollar (USD). Nevertheless, a break above the said hurdle would open the way toward the 61.8% retracement at 0.5853, with stronger resistance seen higher at 0.5915 and the 0.5995 swing high, where the broader bearish bias would start to fade if reclaimed.
On the downside, initial support emerges at the 50% retracement near 0.5809, ahead of the 38.2% Fibo. level at 0.5765 and deeper cushions at 0.5711 and 0.5623. The downside, however, seems limited in the wake of the Reserve Bank of New Zealand's (RBNZ) hawkish tilt. Furthermore, receding bets for a Federal Reserve (Fed) rate hike this year might keep USD bulls on the back foot, suggesting that the path of least resistance for the NZD/USD pair is to the upside.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
NZD/USD daily chart
US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Swiss Franc.
USDEURGBPJPYCADAUDNZDCHFUSD-0.08%-0.15%-0.02%-0.07%-0.16%-0.04%-0.00%EUR0.08%-0.12%0.06%0.00%-0.13%-0.02%0.07%GBP0.15%0.12%0.15%0.11%-0.01%0.09%0.18%JPY0.02%-0.06%-0.15%-0.05%-0.15%-0.04%-0.00%CAD0.07%-0.00%-0.11%0.05%-0.10%-0.04%0.06%AUD0.16%0.13%0.01%0.15%0.10%0.08%0.14%NZD0.04%0.02%-0.09%0.04%0.04%-0.08%0.08%CHF0.00%-0.07%-0.18%0.00%-0.06%-0.14%-0.08% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
