Key takeawaysSilver trades near the 57.0–57.6 participation zone as investors evaluate the latest manufacturing signals across Europe, the United States and Asia.Manufacturing expectations are gradually stabilizing, supporting industrial metals through improving production activity while financing conditions and energy costs continue shaping business confidence.Industrial fabrication, electrification and technology investment remain the principal structural demand channels supporting silver.The Renko structure has entered a Compression phase, indicating that participation is rebuilding while markets await stronger confirmation from the global manufacturing cycle.Silver follows the manufacturing cycleSilver enters Friday's session with market attention increasingly centered on the industrial economy.
This week's macro calendar has progressively shifted the focus away from inflation releases and toward manufacturing conditions across the major economies. The European Central Bank delivered an unchanged policy decision, while investors continue evaluating how manufacturing activity is responding to evolving financing conditions, energy prices and business confidence.
For silver, this transition carries particular importance.
Industrial production remains the dominant transmission channel connecting macroeconomic activity with physical demand.
Every improvement in factory utilization supports fabrication demand.
Every increase in technology investment strengthens consumption across electronics, automation and power infrastructure.
Every expansion in manufacturing activity reinforces participation across industrial metals.
Silver therefore continues reflecting the quality of the production cycle rather than the direction of monetary policy alone.
Manufacturing expectations continue improving across major economiesRecent macroeconomic releases describe a manufacturing environment that is becoming progressively more balanced.
The Eurozone manufacturing sector has continued recovering from the contraction that dominated much of the previous two years. Factory output has improved, production expectations have strengthened and inventory rebuilding has gradually returned across several industrial sectors. Reuters also notes that activity has benefited from easing cost pressures and a recovery in new orders, providing a firmer foundation for industrial production.
In the United States, manufacturing activity has remained above the expansion threshold, indicating that industrial demand continues supporting production despite higher financing costs. Markets now await the latest PMI figures to evaluate whether this stabilization can extend into the second half of the year.
Japan continues contributing positively to the global industrial picture. Factory production has expanded at its fastest pace in several years, supported by electronics, advanced manufacturing and export-oriented industries, although logistics and energy costs continue influencing business planning.
Together, these developments suggest that manufacturing expectations are becoming more stable across the major industrial economies.
Industrial demand continues defining silver's identitySilver occupies a unique position within the industrial economy.
Electrification.Power grids.Semiconductors.Industrial electronics.Automation.Artificial intelligence infrastructure.Solar installations.Each sector contributes to fabrication demand through different investment cycles.
This diversification increases the resilience of industrial participation because demand develops across multiple technologies simultaneously.
The Silver Institute continues projecting another annual market deficit, while mine supply expands only gradually. Supply elasticity therefore remains limited even as fabrication techniques continue improving material efficiency.
A modest improvement in industrial demand can therefore generate a disproportionately larger effect on market participation whenever available supply adjusts more slowly than consumption.
This interaction remains one of silver's defining structural characteristics.
Manufacturing quality matters as much as manufacturing growthIndustrial participation depends on more than production volumes.Energy costs influence operating margins.Credit availability shapes investment decisions.Inventory rebuilding determines procurement activity.Business confidence influences capital expenditure.Each transmission channel contributes to the pace at which fabrication demand develops.The current macro environment therefore supports a gradual rebuilding of industrial participation rather than an immediate acceleration.
Markets continue evaluating the quality of manufacturing recovery across regions while monitoring how businesses respond to financing conditions and input costs.
Silver naturally reflects these adjustments because industrial demand represents the largest component of its long-term consumption profile.
Technical structureThe Renko chart illustrates a market transitioning into a participation rebuilding phase.
Following the advance toward the 60.6 area, silver has entered an orderly consolidation above the long-term EMA200, preserving the broader recovery established during recent weeks.
Price currently trades below the EMA9 and EMA21, reflecting moderation in short-term participation while maintaining the broader structural framework.
Silver enters a Compression phase as manufacturing expectations stabilize, industrial demand remains resilient and participation begins rebuilding across industrial metals.The EMA200 continues rising beneath current prices, confirming that the medium-term trend remains constructive despite the recent consolidation.
The most significant signal comes from the ECRO, which currently reads 6.3 and has entered a confirmed Compression regime.
Participation has returned to very low levels.
Energy is gradually rebuilding.
Delta ECRO has improved to +6.3, indicating that institutional participation is beginning to recover from the recent compression phase.
The stochastic oscillator continues rotating lower toward oversold territory, remaining consistent with a market redistributing participation before its next directional expansion.
Immediate participation develops between 57.0 and 57.6.
Initial resistance emerges near 58.6, followed by the broader participation objective around 59.8–60.0.
The technical structure remains aligned with a market waiting for stronger confirmation from the global manufacturing cycle.
Bird's eye viewSilver continues functioning as an industrial participation asset.
Manufacturing expectations are gradually stabilizing across the major economies.
Industrial fabrication remains supported by electrification, technology investment and infrastructure development.
Supply elasticity continues limiting the market's ability to respond rapidly to changes in fabrication demand.
The Renko structure mirrors this macro environment through a confirmed Compression phase, where participation is rebuilding while investors wait for the next catalyst capable of reactivating industrial momentum.
OutlookSilver enters the final trading session of the week with manufacturing expectations becoming the dominant macro reference for industrial metals.
Upcoming PMI releases, the evolution of industrial orders and business investment will continue shaping fabrication demand during the coming weeks.
As long as manufacturing participation continues improving and supply elasticity remains constrained, silver is likely to remain closely linked to the quality of the global industrial cycle rather than short-term fluctuations in monetary policy.
Since its initial public offering in June, Space Exploration Technologies (SPCX +2.56%) has arguably been the most widely discussed stock in the market.
The company saw its stock soar out of the gate but has since given back much of those gains, despite joining several prominent market indexes sooner than most post-IPO stocks. While there is seemingly never a dull moment at the company, investors should definitely mark their calendars for Aug. 4.
Here's why.
Image source: The Motley Fool.
Second-quarter earnings will be announced Aug. 4 SpaceX recently announced that it will release its second-quarter 2026 financial results on Aug. 4 after the market closes. Management, including SpaceX founder Elon Musk, will host a live conference call at 4:30 p.m. ET to discuss the results with Wall Street analysts. Earnings allow investors to review financial results over three months.
While SpaceX filed its registration statement earlier this year, providing a lot of information about the company, second-quarter results will present investors with new information that will better inform their view of the company and their opinion of the stock and its valuation.
It's also possible, although certainly not guaranteed, that SpaceX provides financial guidance, which would better inform analysts' financial models.
But for a company like SpaceX, which is a long-term bet on the space economy and artificial intelligence, insights from Musk on the conference call are likely to be just as, if not more important than, second-quarter financials.
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Investors will have many questions about initiatives like Starship, the company's fully reusable, heavy-lift rocket on which much of the SpaceX business model hinges.
I'm sure investors will also be curious about the company's data center deals announced earlier this year, its planned future Terafab facility to be run in partnership with Intel and Tesla, and how Grok Intelligence is advancing.
Starlink, the company's low earth orbit satellite internet service, which has thus far been its most profitable business, will also be top of mind.
Consensus estimates project revenue of around $6.87 billion for the quarter and a loss of $0.28 per share, according to Yahoo! Finance (as of July 22). In the first quarter of 2026, SpaceX generated revenue of nearly $4.7 billion and a loss of $1.27 per share.
During SpaceX's IPO roadshow, the Financial Times reported that investment bankers suggested total revenue at the company could surge from about $19 billion in 2025 to $474 billion by 2030.
So while investors aren't focused on one quarter, they will be looking for clues about medium-term growth.
A big tranche of the lock-up shares expires SpaceX's second-quarter earnings report will also trigger the release of a big tranche of shares subject to the company's lock-up policy.
Following most IPOs, company insiders and employees are prevented from selling their shares for a certain period to maintain stability in the stock when it first hits the market. SpaceX has a staggered lock-up policy, under which a certain number of insider shares are gradually made available for sale over the first six months following the IPO.
On the second full trading day following the release of the company's second-quarter earnings results, a fifth of insider shares will be eligible for sale. Interestingly, if the stock price is at least 30% above SpaceX's IPO price of $135, an additional 10% of insider shares will be eligible for sale.
As of July 21, SpaceX stock traded at roughly $123.50, so there's some ground to make up for insiders to unlock that additional 10%. This policy does not apply to Musk, who holds an extraordinary amount of the company's shares and can't sell any stock until at least one year after the IPO.
If insiders sell a large number of their shares, that could flood the market with supply and hurt the stock, even if earnings are perceived positively.
Ultimately, SpaceX's second-quarter earnings report has both mechanical and fundamental implications for the stock. It could very well be the biggest day for the company and stock since the IPO.
Space Exploration Technologies (SPCX +2.56%), or SpaceX, launched its IPO in June with high hopes. While it benefited from an initial bump, its fortunes quickly reversed, and shares now sell below its original IPO price.
A likely reason for the pullback was the valuation of the communication stock, which remains extremely elevated. This overvaluation is so extreme that Planet Labs (PL -1.06%), which SpaceX has so far outperformed, is likely to earn higher returns (or at least lower losses) for 2026. Here's why.
Image source: The Motley Fool.
The state of SpaceX and Planet Labs Aside from their involvement in space and satellites, SpaceX and Planet Labs are different companies. Planet Labs uses satellites to create high-resolution maps of the planet daily. In contrast, SpaceX launches rockets and operates a satellite-based internet service.
Admittedly, Planet Labs would likely not be possible without SpaceX, and its infrastructure makes it a larger company. Its $1.6 trillion market cap is far above Planet Labs' $8 billion.
PL data by YCharts
Valuations explain a surprising amount of that difference. As of the time of this writing, SpaceX trades at a price-to-sales (P/S) ratio of 84, far above Planet Labs's 22 sales multiple.
Both exceed the average P/S ratio of 3.7 for the S&P 500 (^GSPC -1.21%). However, analysts estimate that Planet Labs's revenue will grow at 42% in fiscal 2027, well above the 26% increase in fiscal 2026 (ended Jan. 31). Amid those increases, a sales multiple in the low 20s is not unusual.
In contrast, investors rarely encounter an 84 sales multiple, and one has to wonder whether Elon Musk's track record can justify that valuation. In 2025, SpaceX's revenue grew by 33% year over year, and the forecast of 109% revenue growth in 2026 is a significant increase that makes its valuation more understandable. Still, that also leaves enough potential downside that any hint of bad news could spark a huge sell-off in SpaceX stock.
Planet Labs is not immune to the effects of bad news. Nonetheless, it is in a stronger position to handle it, and that valuation leaves room for a higher multiple if the company exceeds expectations.
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SpaceX probably has further to fall Of the two stocks, SpaceX is the one most likely to suffer more over the course of the year.
Admittedly, Planet Labs' stock has kept going down and has declined more than SpaceX's since the SpaceX IPO. Moreover, neither stock is inexpensive, and it is quite possible that both finish 2026 in the red.
However, one has to question whether any company is worth buying at 84 times sales, a valuation where even an implication of bad news could lead to more selling.
Since a perfect performance is unlikely, investors should expect SpaceX stock to fall further in the near term. Conversely, with Planet Labs facing less pressure, it should either recover or keep its downside in check going forward.
Space Exploration Technologies (SPCX +2.56%) has been on quite a ride since its debut in the public markets in early June. Shares were originally priced at $135, then quickly rose to $225 before tumbling to around $123 as of July 22. For a long-term, fundamentals-focused investor, it's not the volatility that's keeping other investors and me away; it's still the inflated valuation.
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Even after more than $1 trillion was wiped from SpaceX's market cap, the company is still inflated at a $1.6 trillion valuation. With less than $19 billion in revenue, that's still close to 85 times sales. A nearly triple-digit multiple doesn't make sense given last year's 33% growth rate. Elon Musk's company is also spending a tremendous amount on capital expenditures, expected to reach $40 billion this year. SpaceX is nowhere near profitable.
Image source: The Motley Fool.
What the company could achieve with its Starlink and rocket business is truly inspiring and exciting. SpaceX acquired Anysphere, the parent company of Cursor, which should add significant revenue. That's a positive for investors, but I'd still like to see more organic growth than purchased growth over the next several quarters.
If SpaceX can show consistent growth and a path to profitability, eventually I'd be more ready to climb on board. However, I still don't feel comfortable buying a company that is years away from its revenue justifying its price.
Right now, the upside for retail investors looks farther away than a colony on Mars.
Catie Hogan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
A prototype of Tesla's Optimus robot. CFOTO/Future Publishing via Getty Images Elon Musk built Tesla into the world's most valuable carmaker. Now he's betting the company's future on a robot that walks on two legs.
Musk predicts its robot, Optimus, could become "the biggest product ever," with legions of the humanoid robots working in factories, doing household chores, and eventually building more robots. He even has a name for them in the plural: "Optimi."
But Tesla has yet to prove the robot can navigate the physical world or perform useful work autonomously, much less that it can be manufactured by the millions.
On Tesla's earnings call this week, Musk offered few details about Optimus and tempered expectations for how quickly production would increase. He said Tesla would begin producing its third-generation robot "soon" in Fremont in the San Francisco Bay Area.
Tesla is competing in an increasingly crowded humanoid market. Agility Robotics, which plans to go public, has deployed its Digit robot across nine customer facilities, while Figure AI has announced deployments in logistics and distribution centers this year. Sunday Robotics, 1X, and Weave Robotics are preparing to ship robots into homes this fall.
Guy Hoffman, an associate professor of mechanical and aerospace engineering at Cornell University who leads its human-robot collaboration lab, called humanoids a "fantasy product."
Autonomous cars took about 20 years to reach the market after the technology was first shown to work, he told Business Insider. Building humanoids is even harder, and a fully autonomous machine has yet to be developed.
"Humanoid robots are a very risky bet," Hoffman said. "I don't see the product having a viable future in the near term."
Tesla's first-generation Optimus production line in Fremont, California. Tesla Musk has never shied away from moonshot projects. But even he has acknowledged that Optimus is harder to develop than Tesla's Model X, Cybertruck, or gigafactories. If Tesla pulls it off, Musk believes Optimus could usher in "sustainable abundance," a future in which AI and robotics make human labor largely optional.
Tesla did not repond to a request for comment from Business Insider
Here's everything we know about Optimus so far:
From human to humanoidMusk introduced the "Tesla Bot" in 2021 with a person dancing in a robot costume.
Three years later, Optimus robots danced, served drinks, and spoke with guests at Tesla's "We, Robot" event. The robots walked on their own, but more complex movements, such as pouring drinks, handing out desserts, and interacting with attendees, were assisted by remote human operators.
Tesla hasn't yet revealed what the next version of Optimus will look like. All we know is that it stands nearly six feet tall and has a humanlike design, a form that one Silicon Valley investor dismissed to Business Insider as a "parlor trick". Musk has defended humanoids, arguing that robots must resemble people to perform the full range of human tasks.
Chinese companies, including Unitree and UBTech, accounted for about 90% of humanoid shipments last year, according to technology research firm Omdia. Musk has argued that Optimus will be much more sophisticated than its Chinese rivals, but has shared few details so far.
"Optimus is designed to have a lot of intelligence and to have the same electromechanical dexterity, if not higher, than a human," Musk said on a podcast earlier this year. "Unitree does not have that."
Where Optimus stands nowEven though Tesla has not publicly unveiled the next-generation Optimus, it released photos this week of the Fremont production line, where manufacturing is expected to begin soon. Musk previously said that Tesla was keeping the robot under wraps to prevent competitors from copying its design.
Tesla stopped producing the Model S and Model X in Fremont earlier this year to make room for an Optimus line designed to eventually produce a million robots a year. A second line under construction in Austin is planned to have an annual capacity of 10 million robots.
Tesla's first-generation Optimus production line in Fremont, California. Tesla The first bots will join Tesla's "Optimus Academy," where they will practice tasks and generate data used to improve the AI models that serve as their "brains." Musk has said that 10,000 to 30,000 robots will refine their real-world skills at the academy.
On the company's earnings call this week, AI chief Ashok Elluswamy said that the training could push the robots' capabilities to a "superhuman level."
Musk cautioned investors this week that production will ramp slowly because there is no established supply chain for many Optimus components.
Tesla has three big problems to solveTo make Optimus a reality, Musk says Tesla must solve three problems: intelligence, hands, and mass production.
First, the robot must learn to understand and move through the physical world. Musk believes Tesla's self-driving work gives it a head start because Optimus can use Tesla-designed AI chips and technology developed to help its cars interpret camera footage.
Tesla has adapted its driving simulator, a virtual environment used to train and test its self-driving technology, to train millions of virtual robots. But simulations cannot capture every real-world scenario, so Tesla also needs data from physical tasks. Tesla employees have recorded themselves performing factory jobs, for instance.
Hoffman, the Cornell professor, said Musk is underestimating how much harder humanoid robotics is than self-driving.
"It's like playing checkers versus doing nuclear physics," he said. Humanoids must balance on two legs without falling, he added, and today's AI models are still far from operating reliably in the physical world.
The second challenge is what Musk calls the "hands problem": replicating the human hand with motors, sensors, and software. A robot hand must combine strength, precision, and flexibility in a remarkably small space, making it exceptionally difficult to engineer.
Tesla has not unveiled the latest version of Optimus to prevent competitors from copying its design. Costfoto/NurPhoto via Getty Images On Tesla's earnings call this week, Musk said Optimus is being designed to have "human and then superhuman dexterity." Achieving that has required Tesla to develop custom motors, gears, and sensors.
The final challenge is scaling up manufacturing. Musk has warned that early production will be "agonizingly slow." But once Tesla starts producing a million robots a year — the timeline for which is still unclear — he estimates each Optimus could cost about $20,000 to $25,000 to produce.
How Optimus fits into Musk's AI empireMusk has increasingly talked about a "convergence" across his business empire, which is becoming more intertwined around AI.
Ahead of and during Tesla's earnings call this week, shareholders and analysts pressed Musk about a rumored merger with SpaceX. Musk wouldn't comment on the speculation, but highlighted the company's synergies, including the Robotaxi and AI businesses.
Musk has previously explained how Optimus could work with SpaceX's technology, which acquired xAI in February. Each robot would have enough computing power to perform some tasks independently, while xAI's Grok could coordinate larger groups, he said.
"Let's say you wanted to build a factory," Musk said earlier this year. "Grok could organize the Optimus robots, assign them tasks to build the factory floor to produce whatever you want."
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Rya is a senior reporter at Business Insider covering physical AI and robotics. She writes about factory automation, humanoid robots, and the race to collect the real-world data needed to bring AI into the physical world. She previously worked at The San Francisco Standard, where she reported on tech culture and autonomous vehicles. She has a bachelor’s degree in history and politics from Pomona College and a master’s in history from the University of Cambridge. Rya lives in San Francisco. Contact her at [email protected] or on Signal at rjetha.07. Use a personal email address, a nonwork WiFi network, and a nonwork device. Here's our guide to sharing information securely.
While Elon Musk’s two mega-cap public companies have not been doing particularly well in general in the 2026 stock market, the previous week of trading proved especially damaging, and, combined, SpaceX (NASDAQ: SPCX) and Tesla (NASDAQ: TSLA) wiped over $360 billion from their valuations.
Indeed, the rocket, social media, and artificial intelligence (AI) company started out strong following its initial public offering (IPO) in early June but then entered a downtrend that took it as low as $110.85 before recovering slightly to $118.24.
One-week price chart for Elon Musk’s SpaceX stock. Source: Google Within the last five sessions, SPCX shares fell 6.98%, and the company’s market capitalization crashed $116.83 billion from $1.67 trillion to $1.56 trillion.
The situation has arguably been even worse for the electric vehicle (EV) maker Tesla as its equity plummeted 16.18% within the same timeframe, meaning TSLA’s valuation plunged $243.61 billion from $1.5 trillion to $1.26 trillion.
One-week price chart for Elon Musk’s Tesla stock. Source: Google Why Tesla stock wiped $240 billion in a week To begin with, Elon Musk’s car company has been struggling since the year started, between dwindling vehicle deliveries and a shifting timeline for the autonomous ‘Cybercab’ and the humanoid ‘Optimus’ robot.
By Wednesday, July 22, the situation took another adverse turn as the firm’s quarterly earnings report disappointed investors, initiating a 14.52% daily crash to Tesla stock’s latest closing price of $319.69.
Specifically, though revenue came in higher than expected – at $28.24 billion instead of the expected $25.71 billion – and the firm’s core business grew relative to the same period in the previous year, compressed margins and an earnings per share (EPS) miss ensured the selloff.
EPS in particular demonstrates why TSLA shares plummeted, given that analysts were expecting $0.51 and the actual number came in at $0.33.
Why SpaceX stock wiped $116 billion in a week Elsewhere, SpaceX appears to be suffering from an overly ambitious initial valuation. Despite achieving less than $5 billion in revenue in the first quarter (Q1) of 2026 and suffering nearly a $2 billion loss, the company executed its IPO at a $1.77 trillion valuation and a $135 share price.
Broadcom (NASDAQ: AVGO) – a technology company with a comparable market capitalization – recorded roughly four times greater sales than Elon Musk’s space and AI firm within the same timeframe.
Saudi Aramco, an oil giant of a similar size, was profitable, unlike SpaceX, along with achieving significantly higher revenue.
Indeed, as Finbold reported earlier in the week, SPCX’s recent performance appears to back a case presented by Morningstar shortly before the IPO that the equity is headed under $100 and toward an estimated fair value close to $70.
Notably, however, SpaceX stock recorded a green day during the latest session and, despite the deep retracement, retains the confidence of Wall Street.
SummaryThe strong growth in investing in technology infrastructure to support AI has been a focus the past year and is projected to expand this year and next.For 2026, consensus year-over-year CapEx is expected to increase by almost $300 billion from $384 billion to $682 billion.Will Microsoft and Meta Platforms maintain their capex guidance this year? Getty Images
A look at CapEx spending The strong growth in investing in technology infrastructure to support AI has been a focus the past year and is projected to expand this year and next. The expectations for CapEx spending by
Marvell Technology (MRVL -1.02%) has emerged as a strong AI investment candidate throughout 2026. It has a great bull thesis and is right at the heart of the AI buildout.
Furthermore, Nvidia (NVDA -1.56%) has invested $2 billion into Marvell and announced several strategic partnerships to ensure that Nvidia's computing units function on Marvell's products. This is a big deal because Marvell is starting to grow its custom AI chip business, and this could be a major part of the company someday, especially with the two major clients that it has.
But is this enough to make Marvell the new Nvidia? Let's take a look.
Image source: Getty Images.
Marvell's custom AI chip business could take off over the next few years Marvell makes connectivity devices for data centers and also assists AI hyperscalers design custom chips. This is a great business to be in right now, as the AI buildout is full steam ahead. In its custom AI chip business, Marvel has captured two major clients: Amazon and Microsoft. These two companies operated the largest and second-largest cloud computing platforms in the world, and having these two as clients is a big deal for Marvell, as it gives them a major customer that wants to reduce reliance on Nvidia chips through designing their own.
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This may seem like an odd relationship, because Marvell is actively pursuing an industry that undermines Nvidia's GPU business despite Nvidia investing in them. However, Nvidia isn't concerned, because it understands that GPU-based training and inference are necessary in some applications, and that custom AI chips are better for the job in others. But, because Nvidia is making sure that Marvell's chips plug into its existing network, it ensures that Nvidia chips will still be used alongside any custom chip Marvell produces. That's a great spot to be in, but can Marvell become a new Nvidia?
I don't think so. Why? It's really more like Broadcom (AVGO -1.19%).
Broadcom is a far better comparison While Nvidia is the name in AI computing, Broadcom is following close behind. Like Marvell, Broadcom designs custom AI chips and has connectivity switches and networking equipment. This makes these two very similar and shares a lot more business overlap than they do with Nvidia. Broadcom's custom AI chip customers include Meta Platforms, Anthropic, OpenAI, and the biggest custom AI chip customer right now, Alphabet.
So, is Marvell a better buy than Broadcom or even Nvidia? Let's take a look.
For the current fiscal year, Wall Street analysts expect Marvell to deliver 41% revenue growth and 45% during the next fiscal year. While that's a solid growth rate, it's still behind Broadcom's expected 66% growth rate this year and 63% for next year. Nvidia is expected to generate 82% growth this year and 42% next year, although the analyst community has historically underprojected Nvidia's growth rate for years.
Despite those stronger growth outlook figures, Broadcom and Nvidia trade at far cheaper price tags than Marvell.
NVDA PE Ratio (Forward) data by YCharts
Why? Well, Marvell is the new shiny toy in this segment of the market. After three years of dominance, investors have gotten bored with Nvidia despite a strong outlook, and Broadcom is nearing the same level of complacency. However, individual investors don't need to get wrapped up in market sentiment like that. Instead, they should just look at the facts to decide which is the better stock pick.
While Nvidia and Marvell may not be in the same industry, Nvidia's valuation is less than half of Marvell's despite similar growth rates expected for next year. Broadcom is pretty much in the same industry as Marvell, but is valued at a much lower price tag and is expected to grow at a much faster rate. I think that combining these two makes them better buys than Marvell, and investors should be focused on these two established winners versus Marvell.
Keithen Drury has positions in Alphabet, Amazon, Broadcom, Meta Platforms, Microsoft, and Nvidia. The Motley Fool has positions in and recommends Alphabet, Amazon, Broadcom, Marvell Technology, Meta Platforms, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.
Orchestra Portable AI Hub Utilizes NVIDIA Jetson™ Platform for Real-Time Visual Perception, Gesture Recognition and Multi-Device Coordination
AUSTIN, Texas, July 24, 2026 (GLOBE NEWSWIRE) -- Wetour Robotics Limited (NASDAQ: WETO) ("Wetour Robotics" or the "Company"), a Physical AI infrastructure and wearable robotics company, today outlined Orchestra, its portable AI hub and operating system for wearable robotics. Orchestra is designed to enable real-time visual perception, gesture recognition and multi-device coordination by centralizing AI processing in a dedicated edge computing unit powered by NVIDIA Jetson.
Developing Physical AI with NVIDIA Technologies
Orchestra is designed to serve as the central intelligence and coordination layer for Physical AI and wearable robotics devices. By externalizing computing power from individual wearable endpoints into a dedicated portable hub, Orchestra enables devices such as smart glasses, gesture-control wristbands and body-worn sensors to remain lightweight and energy-efficient while the hub handles intensive AI processing, multi-device coordination and real-time decision-making.
The Orchestra hub utilizes the NVIDIA Jetson platform for on-device inference, supporting two core technology modules:
Vision-Link -- a visual perception and command pipeline that processes real-time visual input, performs scene understanding using NVIDIA-accelerated inference and translates visual context into actionable commands for connected physical devices.
Conductor -- a neural gesture recognition and command translation system. Conductor reads electromyographic (EMG) signals from the wearer's wrist, uses proprietary algorithms running on NVIDIA Jetson to recognize continuous hand gestures in real time, and converts recognized gestures into precise control commands for connected devices such as exoskeletons, smart furniture and robotic arms.
"NVIDIA Jetson is the computing foundation that makes Orchestra's real-time coordination possible," said Nan Zheng, Chief Executive Officer of Wetour Robotics. "Vision-Link turns what you see into machine action. Conductor turns how you move into machine commands. Both require low-latency, on-device AI processing enabled by NVIDIA edge computing. This is edge AI applied to the human body."
Open Architecture Approach
Orchestra is being developed with an open architecture approach. The Company intends to explore open interface protocols that would allow third-party hardware manufacturers, including makers of exoskeletons, smart furniture and robotic devices, to build on the Orchestra platform, while Wetour Robotics retains proprietary capabilities in its core intelligence engine, including Vision-Link and Conductor.
"The real bottleneck in Physical AI is not building better robots -- it is imagining better use cases," Zheng added. "Orchestra, powered by NVIDIA edge AI computing, gives builders tools to create Physical AI applications at the performance level these use cases demand."
About Wetour Robotics Limited
Wetour Robotics Limited (NASDAQ: WETO), formerly known as Webus International Limited, is a Physical AI infrastructure and wearable robotics company developing Orchestra, a portable AI hub and operating system designed to coordinate human intent with intelligent physical devices. Orchestra's core technology modules include Vision-Link, a visual perception and command pipeline, and Conductor, a neural gesture recognition and command translation system. Wetour Robotics is headquartered in Austin, Texas. For more information, visit www.wetourrobotics.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding the development, capabilities, architecture, performance, interoperability and commercialization of Orchestra, Vision-Link and Conductor; the use and availability of NVIDIA technologies; and potential third-party adoption. Words such as "designed to," "intends," "expects," "plans," "may," and similar expressions identify forward-looking statements. These statements are based on the Company's current expectations and involve risks and uncertainties, including development delays, technical performance, availability and performance of third-party technologies, interoperability, commercialization, customer adoption, competition, capital resources and other risks described in the Company's filings with the U.S. Securities and Exchange Commission. Actual results may differ materially from those expressed or implied. The Company undertakes no obligation to update forward-looking statements except as required by law.
Investor Relations Contact
Annabelle Li
Investor Relations - Wetour Robotics Limited [email protected]
Ethena’s Coinbase custody wallet transferred 290 million ENA worth $26.41 million to a personal wallet with a history of sending tokens to exchanges. As expected, the transaction revived concerns about another round of market distribution because the receiving address previously moved ENA to Binance and Coinbase.
However, traders did not immediately respond with aggressive selling despite the transaction’s size. Instead, market activity suggested participants waited for confirmation before adjusting their positions.
The transfer also arrived while ENA traded near an important resistance zone, increasing attention on whether buyers could absorb any incoming supply.
As a result, the wallet movement shifted focus towards exchange flows and price structure rather than creating an instant bearish reaction across the market.
Spot outflows offset distribution concerns Despite the large custody transfer, exchange flow data painted a more balanced picture at press time. ENA’s daily spot netflow, for instance, remained negative at -$456.47K, indicating that exchange outflows still exceeded inflows.
The reading suggested that the broader market continued to withdraw tokens instead of sending them to centralized exchanges for immediate selling. Even though the custody transaction raised fresh concerns, aggregate flow data failed to confirm widespread distribution.
In addition, recent sessions showed negative Netflows dominated most observations despite occasional positive spikes.
That trend reduced immediate exchange supply and softened the bearish implications of the 290 million ENA transfer.
Nevertheless, traders would likely require sustained negative Netflows to preserve that advantage because sustained inflows could quickly strengthen selling pressure.
Source: CoinGlass Can ENA break above resistance next? At the time of writing, Ethena [ENA] was trading at around $0.0913 after extending its recent recovery towards the $0.0955-resistance level. Buyers steadily defended higher lows, allowing price to recover from the $0.0788-support established earlier this month.
Meanwhile, the 14-day RSI climbed to 63.83 while its moving average stood at 52.56, reflecting a hike in buying interest without entering overbought territory.
That improvement suggested that bullish participation increased as the price approached its overhead resistance.
Even so, ENA still traded beneath the stronger $0.1120 resistance. It remains the next major barrier if buyers secure a breakout above $0.0955. Failure to reclaim that level would likely encourage another retest of $0.0788, whereas a confirmed breakout could open the path towards $0.1120.
Source: TradingView Where could ENA’s next volatility emerge? Finally, liquidation data highlighted several leveraged positions surrounding ENA’s press time trading range.
The nearest concentration of short liquidations appeared slightly above $0.093, meaning a successful breakout could force bearish traders to close positions and accelerate buying activity. However, substantial liquidity also clustered below $0.087, creating a downside magnet if the price loses its nearby support.
Those opposing liquidation pockets alluded to leverage being balanced, despite the recent recovery.
Rather than confirming a clear directional bias, the heatmap indicated volatility would likely increase once ENA reaches either liquidity zone.
Traders should probably watch those levels closely because liquidation-driven moves often intensify short-term price swings beyond ordinary spot market activity.
Source: CoinGlass Final Summary ENA held firm despite the large custody transfer as exchange outflows continued to outweigh inflows. Buyers approached the $0.0955-resistance while liquidation zones hinted at higher volatility ahead.
Item 1 of 2 2025 Ford Bronco Sport vehicles sit on a dealership lot for sale in Dearborn, Michigan, U.S., May 7, 2025. REUTERS/Rebecca Cook/File Photo
[1/2]2025 Ford Bronco Sport vehicles sit on a dealership lot for sale in Dearborn, Michigan, U.S., May 7, 2025. REUTERS/Rebecca Cook/File Photo Purchase Licensing Rights, opens new tab
CompaniesJuly 24 (Reuters) - Ford (F.N), opens new tab is recalling 565,691 vehicles in the U.S. as the engine compartment wiring harness may become damaged and short circuit, the National Highway Traffic Safety Administration said on Friday.
Here are the details:
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The recall affects certain 2021-2026 Bronco and Bronco Raptor vehicles.
A short circuit in the engine compartment can create heat or spark, increasing the risk of a fire, the auto safety regulator said.
As part of the recall remedy, dealers will install sheathing over the wiring, free of charge, NHTSA added.
Preetika Parashuraman in Bengaluru; Editing by Mrigank Dhaniwala
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Verizon Communications Inc. (NYSE:VZ) will release its second quarter earnings report before the opening bell on Friday, July 24.
Analysts expect the New York-based company to report quarterly earnings of $1.27 per share, up from $1.22 per share in the year-ago period. The consensus estimate for Verizon’s quarterly revenue is $35.11 billion. It reported $34.5 billion last year, according to Benzinga Pro.
On June 29, Verizon disclosed that it expects a second-quarter loss of $700 million to $800 million due to the classification of assets from its Contributed Business as assets and liabilities held for sale.
Shares of Verizon fell 1% to close at $43.82 on Thursday.
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 VZ stock? Here’s what analysts think:
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American Express Company (NYSE:AXP) will release its second quarter earnings report before the opening bell on Friday, July 24.
Analysts expect the company to report quarterly earnings of $4.40 per share, up from $4.08 per share in the year-ago period. The consensus estimate for American Express quarterly revenue is $19.7 billion. It reported $17.86 billion last year, according to Benzinga Pro.
On Wednesday, American Express and ALL Accor announced a new global partnership featuring elite status match and points transfer.
Shares of American Express fell 2.3% to close at $340.84 on Thursday.
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 AXP stock? Here’s what analysts think:
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Gold Production: 1.3 million ounces.Copper Production: 17,000 tonnes.Silver Production: 7 million ounces.Cash Flow from Operations: $2.9 billion after working
SAN FRANCISCO & WASHINGTON--(BUSINESS WIRE)--Salesforce, the world's #1 Agentic CRM, today announced that the U.S. Department of Veterans Affairs (VA) has awarded the company, through its distribution network, a $1.6 billion, three-year, Agentic Enterprise License Agreement (AELA).* Through the agreement, VA will leverage Missionforce to modernize care and service delivery and help provide more timely, consistent, and connected experiences for America's Veterans.Building on a relationship spanni.
Shares climbed after the group logged strong revenue figures, reassuring investors that growth at its cloud business remains healthy despite fears of AI disruption.
Cameron and Tyler Winklevoss, the co-founders of cryptocurrency exchange Gemini, have donated more than $10 million in Bitcoin ($BTC) to MAGA Inc., the Super PAC aligned with President Donald Trump. The contributions landed weeks after federal regulators moved to unwind a penalty the exchange had fought for years.
Two Contributions, One Day According to MAGA Inc.'s July report to the Federal Election Commission, Gemini Trust Company sent two separate contributions of more than $5 million in Bitcoin on June 19, disclosed in a July FEC filing. The precise breakdown, confirmed by FEC records, shows Cameron's records total $5,006,604.47 and Tyler's total $5,011,860.44. After receiving the Bitcoin, the FEC filing shows that the committee sold the donated Bitcoin through Gemini. Under FEC rules, a political committee selling donated Bitcoin must name the exchange, though the buyer can remain anonymous and does not count as a contributor.
Together, the contributions add up to a $10 million political commitment, one of the most significant crypto donations ever reported to the FEC. The contributions were made in Bitcoin, a relatively novel form of campaign finance that Super PACs are permitted to accept, and MAGA Inc. can deploy the funds for independent expenditures in support of President Donald Trump.
The Regulatory Backdrop The donation was recorded about three weeks after the CFTC filed a joint motion with Gemini in federal court in an attempt to reverse a January 2025 settlement over the company allegedly making false or misleading statements. The CFTC took the rare step of attempting to reverse the $5 million settlement it reached with Gemini in January 2025. In its motion, the CFTC acknowledged the original complaint was largely based on a whistleblower's account "known to be lacking in credibility," calling the exchange a "fraud victim."
CFTC Chair Michael Selig claimed at the time that the agency under former President Joe Biden "politically targeted" the Winklevosses through enforcement actions. Importantly, the donation came 23 days after the CFTC joined Gemini's effort to undo parts of its 2025 judgment, although the filing offers no evidence linking the two events, and the records provide no clear evidence that the donations caused or influenced the CFTC's action.
The Winklevoss brothers have a long track record of supporting Trump politically. In addition to the recent MAGA Inc. contributions, the Winklevoss brothers each donated $1 million to Trump's 2024 election campaign and supported the then-candidate through social media posts. Following Trump taking office in January 2025, the twins attended the signing ceremony for the GENIUS Act stablecoin payments bill and contributed $21 million in Bitcoin to the Digital Freedom Fund PAC in an effort to support the administration's efforts related to crypto policy. Gemini has now emerged as one of the largest crypto-aligned political donors backing the current administration.
Sources:
Cointelegraph: Gemini Sent $10M in Bitcoin to Trump PAC after Joint Motion with CFTC
CNBC: U.S. Regulator Moves to Withdraw $5 Million Penalty Against Winklevoss' Crypto Exchange
Decrypt: CFTC, Gemini File Joint Motion to Reverse $5M Settlement
Gemini Trust Company sent more than $10 million in Bitcoin to MAGA Inc., a super political action committee that supports President Donald Trump.
Summary
Gemini sent two Bitcoin contributions totaling over $10 million to Trump-supporting super PAC MAGA Inc. The donations followed Gemini and CFTC’s joint request to vacate ongoing terms of their settlement. Gemini will not recover its $5 million penalty even if the court grants relief requested. A July Federal Election Commission filing lists two Bitcoin contributions made on June 19, with each valued at more than $5 million. The committee can use the funds for independent spending that supports Trump.
The transfers came about three weeks after Gemini and the U.S. Commodity Futures Trading Commission filed a joint motion in a New York federal court. The parties asked the judge to remove the continuing terms of a January 2025 consent order. Available records do not establish that the donation affected the CFTC’s decision, and neither side has publicly linked the events.
FEC filing records two Bitcoin contributions MAGA Inc. disclosed the payments in its monthly report covering June. The filing identifies Gemini Trust Company as the contributor and records both payments on the same date. By June 30, the super PAC had reported more than $397 million in total receipts, according to reports citing the filing.
The contributions extend the Winklevoss brothers’ political support for Trump and pro-crypto groups. Cameron and Tyler Winklevoss each gave $1 million in Bitcoin to Trump’s 2024 campaign. They later donated $21 million in Bitcoin to the Digital Freedom Fund, a PAC created to support the administration’s crypto policy goals.
CFTC seeks relief from Gemini consent order The CFTC sued Gemini in June 2022. The agency alleged that the exchange made false or misleading statements while seeking approval for a Bitcoin futures product. Gemini settled the case in January 2025 without admitting or denying the findings. The consent order required a $5 million civil penalty and imposed a permanent injunction.
On May 27, 2026, the CFTC joined Gemini’s request for relief from that judgment. The agency said a later review found that the complaint “should not have been filed” under its current enforcement standards. It cited questions about the evidence, a whistleblower’s credibility and staff conduct during the investigation.
However, the motion does not seek repayment of the fine. The CFTC said both sides agreed that the $5 million “will not be returned to Gemini.” The requested relief covers the future-facing parts of the order, including the injunction. As crypto.news reported in May, the regulator said keeping those terms in force would not be equitable. No public ruling had appeared by July 24.
Warren questions the agency’s independence Senator Elizabeth Warren challenged the reversal request in a June 5 letter to CFTC Chair Michael Selig. She tied the matter to concerns about staffing cuts, reduced enforcement and contacts between the regulator and crypto or prediction-market firms. Warren called the developments “concerning signs of a CFTC beholden to political pressures and interests of the wealthy insiders.”
The letter states Warren’s position and does not prove that Gemini’s political giving shaped the agency’s action. The CFTC said its decision followed a review of the investigation, evidence, litigation tactics and current policy. It also said Gemini had been a fraud victim and that the earlier complaint relied heavily on an account lacking credibility.
Warren renewed her scrutiny on July 22 by asking the Government Accountability Office to examine CFTC staffing cuts and their effect on enforcement. Her office said the workforce had fallen by about 25% since January 2025. The CFTC’s current website lists Selig as its only commissioner, although federal law provides for a five-member commission.
Crypto election spending reaches new records The Gemini contribution arrived during a surge in crypto-linked political spending. As previously reported by crypto.news,Public Citizen estimated that crypto companies had contributed about $189 million during the 2026 U.S. election cycle by late June. The group said this represented about 37% of corporate political contributions tracked during the cycle.
Several large crypto firms have funded PACs supporting candidates from both parties. Fairshake and related committees have received backing from Coinbase, Ripple and other companies. Meanwhile, MAGA Inc. has attracted money from Gemini and other technology or crypto businesses. Super PACs may accept unlimited corporate contributions for independent spending, but they cannot contribute directly to candidates or coordinate communications with them.
The spending comes as Congress considers the CLARITY Act, which could give the CFTC a larger role in digital asset oversight. Lawmakers continue to debate the regulator’s staffing, authority and leadership structure before expanding its duties.
The court has not publicly resolved the Gemini-CFTC motion. The Bitcoin transfer remains a separately disclosed political contribution. Gemini has already paid the $5 million penalty, and the agreement with the CFTC prevents its return even if the judge removes the order’s continuing restrictions.
USD/JPY soared to 163.81 on Friday, marking a new 40-year high. Repeated warnings of possible currency intervention have so far failed to halt the yen's decline amid a broad strengthening of the US dollar.
The market paid little attention to the Japanese Finance Minister's statement that authorities are ready to take decisive action. Reports that the Bank of Japan may allow a faster pace of rate hikes than markets currently expect also failed to provide support.
Additional pressure on the yen is coming from concerns over Prime Minister Sanae Takaichi's fiscal policy and the escalating US–Iran conflict. Japan is heavily dependent on energy imports, making the economy and trade balance particularly vulnerable to rising oil prices.
Headline inflation in Japan hit a six-month high in June, reinforcing expectations of further rate hikes. However, the yen has already lost 0.8% since the start of the week and is on track for its worst weekly performance since May.
Technical analysis
On the H4 USD/JPY chart, the market is forming a consolidation range around the 163.70 level, currently extending between 163.97 and 163.70. A rise to 164.27 is expected today, with scope for the trend to extend to 164.84. The MACD indicator supports this scenario, with its signal line above zero and pointing firmly upwards.
On the H1 chart, USD/JPY has completed a downward move to the 163.50 level, with a possible extension towards 163.30. Thereafter, a move higher towards at least 164.30 is expected. A breakout above this level would open the way for a continuation towards 164.84. The Stochastic oscillator confirms this scenario, with its signal line below 50 and pointing downwards towards 20, indicating short-term downside pressure before a potential reversal.
ConclusionUSD/JPY has surged to a fresh 40-year high as the yen remains under pressure amid a strong dollar and persistent headwinds. Despite official warnings of potential intervention and indications that the Bank of Japan may tolerate a faster pace of rate hikes, markets remain largely unresponsive. The currency continues to face pressure from concerns over fiscal policy, escalating Middle East tensions, and Japan's reliance on energy imports. Although domestic inflation has accelerated to a six-month high, the yen is on track for its worst weekly performance since May. Technically, further upside towards 164.27–164.84 appears likely, with intervention risks remaining a key wildcard.
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USD/JPY soared to 163.81 on Friday, marking a new 40-year high. Repeated warnings of possible currency intervention have so far failed to halt the yen’s decline amid a broad strengthening of the US dollar.
The market paid little attention to the Japanese Finance Minister’s statement that authorities are ready to take decisive action. Reports that the Bank of Japan may allow a faster pace of rate hikes than markets currently expect also failed to provide support.
Additional pressure on the yen is coming from concerns over Prime Minister Sanae Takaichi’s fiscal policy and the escalating US–Iran conflict. Japan is heavily dependent on energy imports, making the economy and trade balance particularly vulnerable to rising oil prices.
Headline inflation in Japan hit a six-month high in June, reinforcing expectations of further rate hikes. However, the yen has already lost 0.8% since the start of the week and is on track for its worst weekly performance since May.
Technical Analysis
On the H4 USD/JPY chart, the market is forming a consolidation range around the 163.70 level, currently extending between 163.97 and 163.70. A rise to 164.27 is expected today, with scope for the trend to extend to 164.84. The MACD indicator supports this scenario, with its signal line above zero and pointing firmly upwards.
On the H1 chart, USD/JPY has completed a downward move to the 163.50 level, with a possible extension towards 163.30. Thereafter, a move higher towards at least 164.30 is expected. A breakout above this level would open the way for a continuation towards 164.84. The Stochastic oscillator confirms this scenario, with its signal line below 50 and pointing downwards towards 20, indicating short-term downside pressure before a potential reversal.
Conclusion USD/JPY has surged to a fresh 40-year high as the yen remains under pressure amid a strong dollar and persistent headwinds. Despite official warnings of potential intervention and indications that the Bank of Japan may tolerate a faster pace of rate hikes, markets remain largely unresponsive. The currency continues to face pressure from concerns over fiscal policy, escalating Middle East tensions, and Japan’s reliance on energy imports. Although domestic inflation has accelerated to a six-month high, the yen is on track for its worst weekly performance since May. Technically, further upside towards 164.27–164.84 appears likely, with intervention risks remaining a key wildcard.
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SummaryPity Mr. Market. He supposedly wants to buy low and sell high. But he often recoils from and spews hate at stocks that can be bought low — like Oracle.Supposedly, ORCL is doing wrong by spending heavily to build data centers and, horror of horrors, borrowing and selling new equity to do this. In other words...ORCL is acting (gasp) normal. The whole world can’t be “asset lite” services. And building physical assets often means big spending and (double gasp) temporarily negative FCF.Big AI spenders will eventually need to earn returns on their investments. Not all will succeed. But AI, real, productive, AI is about data. Not all big spenders are. But...Data is and always has been ORCL’s forte, especially mission-critical enterprise data. Given its prowess here, I see ORCL as one of the eventual AI winners and its stock as a contrarian value 'Buy.' Vertigo3d/E+ via Getty Images
Buy low, sell high — or so they say.
Sounds wonderful. Let’s all go out and do that very thing.
Actually, though, that takes courage.
First, you have to power your way through a gauntlet of
8.35K Followers
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 ORCL 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.
Core FFO: $2.13 per share in Q2 2026, 14% year-over-year growth.Bookings: Record 0 to 1-megawatt plus interconnection signings surpassing $100 million.Renewal
Disney’s parks initiative does not involve a roller coaster or resort expansion. Instead, the company is using grocery brands to create more reasons for visitors to spend inside its parks, resorts and cruise ships.
Disney and Kraft Heinz announced a multiyear alliance covering ten brands, including Heinz, Philadelphia and Kraft Mac & Cheese.
The partnership spans North American parks, Disney Cruise Line, studios and streaming platforms, with new menu items, themed experiences and branded condiment stations across hundreds of dining locations.
Financial terms were not disclosed.
Disney stock closed Thursday at $92.83, down 3.1%, while Kraft Heinz fell 2.3% to $25.36, suggesting investors see potential but little basis for changing earnings forecasts.
The agreement will reach Walt Disney World, Disneyland Resort and North American cruise sailings. Its first showcase is scheduled for Disney’s D23 fan event from August 14 to 16.
For Disney, the opportunity extends beyond supplying ketchup or cream cheese.
Branded menus can encourage food spending, while co-developed products and campaigns can link park visits with characters, franchises and streaming content.
Kraft Heinz gains access to Disney’s destinations and media reach, while Disney can refresh dining experiences without funding product-development or marketing effort alone.
The companies provided no contract value, revenue contribution, margin guidance or financial targets and the partnership should be treated as a potential sales tool rather than a confirmed earnings catalyst.
Goldman Sachs analyst Michael Ng maintained a Buy rating and a $163 price target, citing Orlando tourism data that indicated park demand.
Record May hotel and short-stay tax collections pointed to healthy visitor spending, while airport traffic broadly matched Goldman’s attendance expectations.
That backdrop improves Disney’s chances of converting themed dining into higher spending per guest.
Visitors willing to pay for hotels, tickets and merchandise may respond to exclusive menus and products tied to Disney stories.
UBS analyst John Hodulik cut his target to $133 from $138 but retained a Buy rating and forecast high-single-digit growth for Experiences.
He warned that higher sports-rights costs and softer film profitability could offset gains from parks and streaming.
The partnership cannot repair every weak point, but it supports the division central to Disney’s earnings resilience.
Experiences remains central to Disney’s valuationBenchmark initiated Disney coverage with a Buy rating and a $115 target, describing the company as a diversified consumer-engagement platform.
The brokerage estimated that Experiences generates 57% of segment operating income despite contributing less than 40% of revenue.
That profitability explains why an incremental parks initiative matters.
Disney repeatedly monetises the same intellectual property through destinations, merchandise, food and media, increasing the consumer touchpoints available to each franchise.
JPMorgan has said investor sentiment remains muted because of concerns about park attendance and streaming growth.
The bank nevertheless sees Disney’s price-and-volume opportunity in Experiences as a potential re-rating catalyst.
Revenue: $435 million, up 6% year over year.Earnings Per Share (EPS): $2.38, increased 7.7% year over year.Net Income: $217 million, compared to $207 million a
Once a high-flying stock, Palantir Technologies (PLTR -0.90%) isn't having a good year. The stock is down about 25% so far this year, putting it firmly in bear market territory.
But I'm convinced this is an outstanding buying opportunity for what I believe is the best artificial intelligence software company on the planet, and that's why I'm buying more shares of Palantir stock now.
Palantir CEO Alex Karp says any company involved in AI will find something to like in his company's products. Image source: Palantir Technologies.
Palantir's software can't be replicated The secret behind Palantir's success is its revolutionary software. The company collects data points from thousands of sources, including satellites, to provide real-time insights to commercial customers and government agencies. CEO Alex Karp described how the company works in a 2025 interview.
If you're an intelligence agency, you're using us to find terrorists and organized criminals while maintaining the security and data protection of your country. Then you have the special forces. How do you know where your troops are? How do you get in and out of the battlefield as safely as possible, avoiding mines, avoiding enemies? Then there's Palantir on the commercial side. The shorthand is if you're doing anything that involves operational intelligence, whether it's analytics or AI, you're going to have to find something like our products.
But the magic really began when Palantir incorporated its Artificial Intelligence Platform (AIP) into its Foundry and Gotham products, which allow users to pose detailed queries, automate tasks, and have AI propose and complete real-world tasks.
Three years after launching AIP, Palantir is continuing to grow at a staggering pace. Revenue in the first quarter was $1.63 billion, up 85% from a year ago. The company said its U.S. commercial revenue jumped 133% from a year ago to $595 million, and U.S. government revenue increased 84% to $687 million.
The company closed 206 deals in the first quarter, with at least $1 million each, 72 of them at least $5 million, and 47 at least $10 million. Overall, in the quarter, Palantir closed $2.41 billion in total contract value.
Today's Change
(
-0.90
%) $
-1.12
Current Price
$
123.46
The company increased its full-year guidance, now calling for revenue in a range of $7.650 billion to $7.662 billion. Previous guidance was for revenue between $7.182 billion and $7.198 billion.
The valuation is improving The biggest red flag for many investors has been Palantir's staggering valuation -- or, perhaps, its once-staggering valuation. In December, Palantir's forward price-to-earnings ratio was more than 240, and its forward price-to-sales ratio topped 90. But those numbers moderated in the first half of this year.
PLTR PE Ratio (Forward) data by YCharts
Yes, Palantir is still expensive. But it's a unique company providing software that is changing the way businesses operate, from managing supply chains to tracking inventory to conducting competitive analysis. And its military applications are significant enough that the Pentagon is making its AI-powered Maven Smart System an "official program of record," which would streamline Maven's adoption across all branches of the military and provide Palantir with long-term funding.
Palantir stock still has a long runway, which is why I'm buying the dip in 2026.
MUFG’s Derek Halpenny says the ECB’s latest communication supports a likely September rate hike, now almost fully priced, but warns that Euro support may fade as energy costs rise. He sees increased downside risks for the Euro versus the Dollar, with EUR/USD’s break below 1.1400 and weaker European data contrasting with a more resilient US economy.
ECB path priced as Euro risks grow"The ECB message yesterday in our view certainly pointed to the prospect of another rate hike in September. While the statement acknowledged that energy prices remain close to baseline assumptions, the comment that the “full inflationary impact of the energy shock has yet to play out” gave some balance with concerns still elevated over achieving price stability."
"Bloomberg released one of its sourced articles (from people familiar with the matter) confirming a hike in September unless the inflation outlook improves “markedly”. The fact that some Governors considered whether a hike was needed yesterday reinforces the prospect of a September hike."
"Who knows how the Middle East pans out but even if crude oil prices start to decline again, we are unlikely to see a marked improvement in the outlook by then and hence a hike from the ECB is very likely, consistent with our call. That’s close to fully priced now."
"The US dollar gained broadly yesterday but we certainly see increased downside risks for the euro and the pound if the energy markets continue the current pace of increases. One energy space that looks increasingly different is the natural gas market with prices surging and are already have hit the peaks in March."
"Momentum points to further gains for the US dollar while technically the clearer break of 1.1400 in EUR/USD adds to short-term bullishness. The previous high for DXY at 101.80 is now in sight and a break there would be another bullish sign."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
Micron stock's next catalyst may be coming from the Chinese model that initially unsettled semiconductor investors.
MU closed Thursday at $990.21, up 3.2%, after Alphabet raised its 2026 capital-spending forecast and revived confidence in data-centre demand.
Another signal is emerging from Moonshot AI’s Kimi K3. The low-cost, open-weight model was viewed as a threat to expensive Western infrastructure, but its popularity quickly strained computing capacity.
That reversal supports a Wall Street argument that cheaper AI may reduce the cost of each task while increasing the number of tasks, deployments and memory chips required.
Kimi K3 is a mixture-of-experts model with 2.8 trillion parameters and 50 billion active.
Its performance and low API prices revived comparisons with DeepSeek, raising fears that US technology groups were overspending on processors and data centres.
Demand then produced the opposite warning. Moonshot said usage pushed its infrastructure to capacity, forcing it to pause new subscriptions so customers could retain access.
For Micron, the point is not a confirmed order from Moonshot.
No such purchase has been disclosed, but the signal is that large, inexpensive models still consume memory when deployed at scale.
Bank of America analyst Vivek Arya said Chinese pricing reflects “business-model choices” rather than lower hardware costs, MarketWatch reported.
He added that model weights and active parameters can require “the same or more memory.” BofA reiterated its Buy rating and $1,550 target.
Open-weight models can transfer infrastructure spending from the developer to businesses operating them.
Deployments require servers, DRAM and storage even when access to the model is cheap.
The investment case resembles the Jevons paradox: when technology becomes cheaper, total consumption can rise because more customers adopt it and existing users run more workloads.
Wedbush analyst Matt Bryson said larger models require more memory to hold their parameters, either increasing memory content per accelerator or forcing larger chip clusters.
Continued adoption of Chinese models could therefore be “arguably good for memory vendors,” he said.
Micron, SK Hynix and Samsung are suppliers of high-bandwidth memory used alongside AI accelerators.
Wider deployment can also lift demand for DRAM and NAND storage needed to serve models and retain data.
Kimi K3 strengthens the demand thesis without proving that Micron will sell directly into China. Export restrictions, local suppliers and procurement arrangements make that conclusion premature.
The signal matters because data-centre memory supply is already tight.
Morgan Stanley analyst Joseph Moore said shortages “show no signs of abating,” according to MarketWatch, and expects prices to rise at least 25% from the second quarter to the third.
Moore argued that weakness in PCs, smartphones or consumer products could become a misleading “false flag” because AI data centres are absorbing so much DRAM.
Cloud customers are paying premiums to secure supply, while shortages are expected to persist through 2028.
Micron has reinforced that outlook by signing 16 multiyear customer agreements expected to generate about $22 billion in cash deposits and related financial commitments.
Novo Nordisk said on Friday it is seeking a preliminary U.S. court injunction to immediately block obesity and diabetes drug advertisements by Eli Lilly , in a further escalation of the rivalry between the two groups.
Chubb (NYSE:CB) reported a strong second quarter of 2026, with Chairman and Chief Executive Officer Evan Greenberg pointing to underwriting performance, investment income, life insurance growth and global diversification as key contributors to results.
Core operating earnings were $2.8 billion, or $7.26 per share, up 14.6% and 18.2%, respectively, from the prior year, Greenberg said on the company’s earnings call. Tangible book value per share rose 17.1% year over year, which Greenberg described as the company’s “most important measure of shareholder wealth creation.”
The insurer posted an annualized core operating return on tangible equity of 21.2% for the quarter and a core operating return on equity of 14.5%. Property and casualty underwriting income exceeded $1.9 billion, up almost 19%, with a combined ratio of 83.8%. On a current accident year basis excluding catastrophe losses, the combined ratio was 82.2%.
Investment Income Hits Record Level Adjusted net investment income reached a record $1.88 billion, up more than 11%, supported by performance in fixed income and alternative asset portfolios. Greenberg said the fixed income portfolio yield was 5.1%, while the current new money rate averaged 5.5% as of June 30. Chubb’s invested assets stood at $175 billion, up from $161 billion a year earlier.
Chief Financial Officer Peter Enns said adjusted operating cash flow totaled $3.5 billion in the quarter. He also noted that Chubb issued $2.2 billion of debt across several currencies at a weighted average cost of 4.2% and an average term of about 7.5 years, with proceeds intended for general corporate purposes, including repayment and refinancing of debt.
Enns said Chubb returned $1.4 billion of capital to shareholders in the quarter, including $979 million of share repurchases at an average price of $327.18 per share and $395 million in dividends. The company ended the quarter with book value of $75 billion, or $195.45 per share. Book value per share and tangible book value per share excluding accumulated other comprehensive income grew 2.8% and 3.8%, respectively, during the quarter.
Chief Investment Officer Chris Hogan said the public fixed income portfolio generated $1.63 billion of income, up 12% year over year, while private investments, representing 12% of the portfolio, contributed $250 million, up 9.5%. Hogan called the current environment “ideal” for investment-grade bond investors, citing reinvestment rates above the portfolio’s book yield.
Premium Growth Varies by Business Line Global property and casualty premiums rose 3%, or 6.3% excluding large account and excess and surplus property, Greenberg said. Overseas general premiums grew 10.2%, or 4.8% in constant dollars. North America premiums increased about 0.5%, as commercial lines declined 2.3%, while personal lines and accident and health each rose 6%.
Greenberg said the “substantial majority” of Chubb’s businesses are growing, while some are flat or shrinking because of inadequate pricing or terms. He specifically cited U.S. large account and E&S property as an area where the company again reduced premium volume.
International retail, which Greenberg said produces more than $17 billion in annual gross premiums and operates in 51 countries, grew almost 12%, or about 6% in constant dollars. Consumer-related businesses, including accident and health and personal lines, were up more than 12%, while commercial lines rose more than 11%. Latin America grew 15.6%, Asia grew 12% and Europe grew nearly 7.5%.
In North America commercial, middle market and small commercial premiums grew almost 9%, with property and casualty lines up 12% and financial lines down about 3%. Premiums in major account and specialty, including E&S, declined 9% because of property.
In North America personal lines, Chubb’s high-net-worth business generated 6% premium growth and renewal retention of 90% on an account basis. Greenberg said the North America personal lines business now produces more than $8 billion in annual gross premiums.
Greenberg Warns on Casualty Pricing Greenberg said soft market conditions have begun to extend beyond property into more casualty lines, particularly in E&S. He said certain classes of large account and middle market business are becoming more competitive, and pricing in multiple casualty areas is not keeping pace with loss costs.
“U.S. casualty loss costs are rising at a pretty steady 6%-7% for primary casualty, and 9.5%-12% for excess,” Greenberg said, adding that pricing can become inadequate quickly under those conditions. He said financial lines remain soft, with some newer market participants and managing general agents underwriting at prices and terms he considers inadequate.
In North America, commercial property and casualty pricing excluding financial lines and workers’ compensation was up 1.3%, with rates down 1.4% and exposure change of 2.7%. Property pricing was down about 6%, while casualty pricing rose 7.1%, including a 6.4% rate increase and 0.7% exposure growth. Financial lines pricing was up 0.3%.
Asked during the question-and-answer session about casualty pricing, Greenberg said the issue was not limited to commercial auto. “It’s across casualty,” he said, adding that there is “zero evidence across the industry” that loss costs have abated.
Life Insurance and Worksite Benefits Grow Life income was $332 million, up 9% from a year earlier. Greenberg said international life insurance premiums and deposits rose almost 14.5%, with most exposure in Asia and most growth in North Asia, including China, Hong Kong, Korea and Taiwan.
Chubb’s North America Worksite Benefits business grew premiums 14%. Greenberg said the business has been built steadily over more than five years, through brokerage distribution tied to small and middle market commercial relationships and through a retooled agency force focused on small and lower middle market employers.
Greenberg said the company sees “a tremendous opportunity” to continue growing Worksite Benefits organically at double-digit rates, and expects it to become a more significant contributor to Chubb’s top and bottom line over time.
Reserves, Catastrophe Losses and Capital Pre-tax catastrophe losses were $475 million, principally from weather-related events in the U.S., Enns said. Chubb recorded favorable pre-tax prior period development of $441 million in active companies, with 89% from short-tail lines and 11% from long-tail lines. The corporate runoff portfolio had adverse development of $158 million, more than two-thirds of which came from molestation-related claims development.
Net loss reserves increased to nearly $69 billion, up 4% from the second quarter of 2025. The paid-to-incurred ratio was 90% for the quarter, or 86% excluding catastrophe losses, prior period development and agriculture. When asked why the ratio remains below pre-pandemic levels, Greenberg said it “speaks to overall the strength of our reserves.”
Enns said the core operating effective tax rate was 19.2% for the quarter, below the company’s previously guided range because of shifts in income mix and discrete tax benefits. Chubb continues to expect a full-year core operating effective tax rate of 19.5% to 20%.
Greenberg said Chubb remains confident in its ability to generate strong operating earnings growth and double-digit tangible book value growth over time, while acknowledging softer commercial property and casualty market conditions. “We have many sources and handles to pull,” he said, citing the company’s global mix, life business, invested assets and capital management.
About Chubb (NYSE:CB) Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.
In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.
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.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
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.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Hong Kong’s Securities and Futures Commission (SFC) fined Victory Securities HK$1.7 million for violating regulatory rules and temporarily revoked the license of its responsible officer.
The Hong Kong Securities and Futures Commission (SFC) announced that Victory Securities Limited was censured and fined HK$1.7 million for violating regulatory requirements in handling a client’s account. Zhao Ziliang, the firm’s responsible officer and core function head, had his license suspended for three months, effective from July 22 to October 21, 2026. The violations were uncovered during the SFC’s investigation into an alleged "pump and dump" scheme. The client opened an account on October 29, 2019, subsequently submitting two sell orders and providing statements purportedly issued by other brokers as proof of shareholdings. Despite the client’s shareholding value being clearly inconsistent with the financial status declared in the account opening documents, Victory Securities failed to conduct sufficient due diligence before executing the orders, nor did it obtain reasonable explanations for the warning signs. Subsequent information revealed the client may have submitted false documents to facilitate one of the transactions, but Victory Securities did not report the relevant fraud or deception to the SFC. The SFC ruled that the firm’s handling fell short of the requirements of the Code of Conduct and relevant anti-money laundering laws and guidelines, with the deficiencies attributed to Zhao Ziliang’s failure to fulfill his duties as a responsible officer and senior management member. In its disciplinary decision, the SFC considered that the incident was an isolated case with no systemic gaps found in Victory Securities’ internal controls; the firm has since improved its policies and procedures and conducted mandatory training, both Victory Securities and Zhao cooperated with the investigation, and Zhao had no prior disciplinary record.
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$MU whale opens $25.2M 3x long with perfect 4/4 winning record, $2.28M profit
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Hong Kong’s Securities and Futures Commission (SFC) has optimized the regulatory framework for daily leveraged and inverse products to ensure orderly market trading.
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"The Big Short" prototype Michael Burry posted that people should closely monitor the trend of long-term U.S. Treasuries. Multiple factors are exerting pressure on the U.S. Treasury market, including the rapid expansion of AI-related debt, rising inflation volatility, unstable basis trading conditions, and oil prices rebounding back to nearly $100. He stated that it remains uncertain how long private equity and private credit markets can sustain themselves.
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Semiconductor stocks were mixed in U.S. pre-market trading, with Intel rising nearly 5% while most storage and optical communication stocks declined.
According to BIT (bit.com) market data, ahead of Friday’s US pre-market trading, semiconductor stocks were mixed: Intel (INTC) rose 4.76%, Arm (ARM) gained 0.96%, and AMD (AMD) increased 0.41%; SK Hynix (SKHY) fell 2.93%, Micron Technology (MU) dropped 2.16%, Marvell Technology (MRVL) decreased 1.41%, and NVIDIA (NVDA) declined 0.72%. The storage sector saw broad declines: SK Hynix (SKHY) fell 2.93%, SanDisk (SNDK) dropped 2.19%, Micron Technology (MU) decreased 2.16%, Western Digital (WDC) declined 1.68%, and Seagate Technology (STX) fell 1.24%. Most optical communication concept stocks retreated: Nokia (NOK) dropped 2.15%, Astera Labs (ALAB) fell 1.99%, Credo (CRDO) decreased 1.86%, Ciena (CIEN) declined 1.14%, and Applied Optoelectronics (AAOI) fell 0.62%.
Hong Kong’s Securities and Futures Commission (SFC) fined Victory Securities HK$1.7 million for violating regulatory rules and temporarily revoked the license of its responsible officer.
The Hong Kong Securities and Futures Commission (SFC) announced that Victory Securities Limited was censured and fined HK$1.7 million for violating regulatory requirements in handling a client’s account. Zhao Ziliang, the firm’s responsible officer and core function head, had his license suspended for three months, effective from July 22 to October 21, 2026. The violations were uncovered during the SFC’s investigation into an alleged "pump and dump" scheme. The client opened an account on October 29, 2019, subsequently submitting two sell orders and providing statements purportedly issued by other brokers as proof of shareholdings. Despite the client’s shareholding value being clearly inconsistent with the financial status declared in the account opening documents, Victory Securities failed to conduct sufficient due diligence before executing the orders, nor did it obtain reasonable explanations for the warning signs. Subsequent information revealed the client may have submitted false documents to facilitate one of the transactions, but Victory Securities did not report the relevant fraud or deception to the SFC. The SFC ruled that the firm’s handling fell short of the requirements of the Code of Conduct and relevant anti-money laundering laws and guidelines, with the deficiencies attributed to Zhao Ziliang’s failure to fulfill his duties as a responsible officer and senior management member. In its disciplinary decision, the SFC considered that the incident was an isolated case with no systemic gaps found in Victory Securities’ internal controls; the firm has since improved its policies and procedures and conducted mandatory training, both Victory Securities and Zhao cooperated with the investigation, and Zhao had no prior disciplinary record.
9 minutes ago
$MU whale opens $25.2M 3x long with perfect 4/4 winning record, $2.28M profit
The whale who is good at trading $MU just opened a new 3x long on 25,961 $MU($25.2M). The whale has completed 4 long trades on $MU, winning every one and making a $2.28M profit.
9 minutes ago
Hong Kong’s Securities and Futures Commission (SFC) has optimized the regulatory framework for daily leveraged and inverse products to ensure orderly market trading.
The Hong Kong Securities and Futures Commission (SFC) today issued a revised circular, mandating that leveraged and inverse products—whose capacity is highly sensitive to market conditions—adopt a flexible leverage structure. Under this structure, leverage multiples can be adjusted daily within the existing caps: 2x for leveraged products and -2x for inverse products. Accordingly, product providers may lower the target leverage multiples of these products when necessary, giving them greater flexibility to manage the products during periods of high trading volume. The leverage multiples for these products on the next trading day will be disclosed after daily market close. The potential daily adjustment of leverage multiples also helps deepen investors’ understanding that leveraged and inverse products are designed as daily products, reminding investors that these products are not suitable for holding beyond one day.
9 minutes ago
The 'Big Short' Michael Burry warns to watch long-term US Treasuries, which are facing multiple pressures including surging AI-related debt and oil prices approaching $100.
"The Big Short" prototype Michael Burry posted that people should closely monitor the trend of long-term U.S. Treasuries. Multiple factors are exerting pressure on the U.S. Treasury market, including the rapid expansion of AI-related debt, rising inflation volatility, unstable basis trading conditions, and oil prices rebounding back to nearly $100. He stated that it remains uncertain how long private equity and private credit markets can sustain themselves.
9 minutes ago
Smart money takes a triple long position on Micron, with the position valued at $25.2 million.
According to Lookonchain's monitoring, a crypto whale has just opened a 3x leveraged long position on 25,961 units of MU, valued at approximately $25.2 million. The whale had previously completed four MU long trades, all profitable, with a total profit of $2.28 million.
9 minutes ago
Semiconductor stocks were mixed in U.S. pre-market trading, with Intel rising nearly 5% while most storage and optical communication stocks declined.
According to BIT (bit.com) market data, ahead of Friday’s US pre-market trading, semiconductor stocks were mixed: Intel (INTC) rose 4.76%, Arm (ARM) gained 0.96%, and AMD (AMD) increased 0.41%; SK Hynix (SKHY) fell 2.93%, Micron Technology (MU) dropped 2.16%, Marvell Technology (MRVL) decreased 1.41%, and NVIDIA (NVDA) declined 0.72%. The storage sector saw broad declines: SK Hynix (SKHY) fell 2.93%, SanDisk (SNDK) dropped 2.19%, Micron Technology (MU) decreased 2.16%, Western Digital (WDC) declined 1.68%, and Seagate Technology (STX) fell 1.24%. Most optical communication concept stocks retreated: Nokia (NOK) dropped 2.15%, Astera Labs (ALAB) fell 1.99%, Credo (CRDO) decreased 1.86%, Ciena (CIEN) declined 1.14%, and Applied Optoelectronics (AAOI) fell 0.62%.
The native token of Hyperliquid, HYPE, remains under the spotlight as its price structure signals continued bullish momentum, even amid short-term volatility. Observers have stated that a major support level could determine whether buyers sustain the rally or if the token will correct lower in the near term. Meanwhile, Hyperliquid’s ecosystem is expanding through the launch of new artificial intelligence (AI)-focused decentralized investment offerings via HYPER EVM.
HYPE technical outlook and support levelsAt press time, HYPE is trading at $57.88. The token registered a 24-hour trading volume of $320.77 million and boasts a market capitalization of $14.62 billion. Despite a 2.33% decline on the day, the price structure has shown resilience, suggesting that bullish continuation is still possible if support levels hold.
Technical analyst Wick assessed that HYPE surged from below $50, reaching the $160 resistance zone. However, this move has placed the token at a local peak, a level where profit-taking and corrective selling could emerge. Wick drew parallels to two earlier market moves and identified a likely demand region between $72 and $100, forming part of a recurring rally-correction-recovery pattern seen before.
Wick highlighted that if buyers defend the $72 to $100 support, HYPE could attract new demand and resume gains aiming for targets between $120 and $150.
Below this support, a breakdown could trigger a deeper correction, with the next significant accumulation area identified around $40.
Support LevelUpside TargetDownside Risk$72-$100$120-$150$40Analysts have noted that the overall direction of the token is currently influenced by the broader cryptocurrency market, which has seen downward pressure as Bitcoin begins to retreat.
Ecosystem growth: New AI investment productsBeyond price movements, the Hyperliquid platform continues to innovate. New decentralized investment products focused on artificial intelligence have recently been deployed through HYPER EVM. This blockchain-based protocol now supports “AI agent tokens,” which are backed by baskets of perpetual futures contracts.
These AI agent tokens give users exposure to select AI-driven cryptocurrencies, diversifying investor portfolios and increasing capital efficiency within the DeFi sector. Market data from PerpGame indicated that these products aim to expand user participation and broaden the platform’s reach.
Participants are now able to engage with AI agent tokens collateralized by baskets of perpetual contracts, gaining structured exposure to this emerging asset class.
Mini dictionary: HYPER EVM is a blockchain environment within the Hyperliquid platform that enables smart contracts and supports the launch of decentralized applications, including AI-based investment products.
Market context and outlookDespite active network development and positive expansion in decentralized finance, HYPE has faced additional downward pressure following a general downturn in the crypto market. Bitcoin’s recent slide has contributed to the cautious sentiment surrounding emerging tokens, including HYPE.
The broader market environment is adding volatility to HYPE’s outlook, and its near-term path will depend on whether traders can defend critical support levels and ride the next wave of buying momentum.
Traders are watching closely to see if HYPE can build on its technical structure and ecosystem growth, or if the correction will deepen toward the next accumulation region.
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.
Hong Kong’s Securities and Futures Commission (SFC) fined Victory Securities HK$1.7 million for violating regulatory rules and temporarily revoked the license of its responsible officer.
The Hong Kong Securities and Futures Commission (SFC) announced that Victory Securities Limited was censured and fined HK$1.7 million for violating regulatory requirements in handling a client’s account. Zhao Ziliang, the firm’s responsible officer and core function head, had his license suspended for three months, effective from July 22 to October 21, 2026. The violations were uncovered during the SFC’s investigation into an alleged "pump and dump" scheme. The client opened an account on October 29, 2019, subsequently submitting two sell orders and providing statements purportedly issued by other brokers as proof of shareholdings. Despite the client’s shareholding value being clearly inconsistent with the financial status declared in the account opening documents, Victory Securities failed to conduct sufficient due diligence before executing the orders, nor did it obtain reasonable explanations for the warning signs. Subsequent information revealed the client may have submitted false documents to facilitate one of the transactions, but Victory Securities did not report the relevant fraud or deception to the SFC. The SFC ruled that the firm’s handling fell short of the requirements of the Code of Conduct and relevant anti-money laundering laws and guidelines, with the deficiencies attributed to Zhao Ziliang’s failure to fulfill his duties as a responsible officer and senior management member. In its disciplinary decision, the SFC considered that the incident was an isolated case with no systemic gaps found in Victory Securities’ internal controls; the firm has since improved its policies and procedures and conducted mandatory training, both Victory Securities and Zhao cooperated with the investigation, and Zhao had no prior disciplinary record.
9 minutes ago
$MU whale opens $25.2M 3x long with perfect 4/4 winning record, $2.28M profit
The whale who is good at trading $MU just opened a new 3x long on 25,961 $MU($25.2M). The whale has completed 4 long trades on $MU, winning every one and making a $2.28M profit.
9 minutes ago
Hong Kong’s Securities and Futures Commission (SFC) has optimized the regulatory framework for daily leveraged and inverse products to ensure orderly market trading.
The Hong Kong Securities and Futures Commission (SFC) today issued a revised circular, mandating that leveraged and inverse products—whose capacity is highly sensitive to market conditions—adopt a flexible leverage structure. Under this structure, leverage multiples can be adjusted daily within the existing caps: 2x for leveraged products and -2x for inverse products. Accordingly, product providers may lower the target leverage multiples of these products when necessary, giving them greater flexibility to manage the products during periods of high trading volume. The leverage multiples for these products on the next trading day will be disclosed after daily market close. The potential daily adjustment of leverage multiples also helps deepen investors’ understanding that leveraged and inverse products are designed as daily products, reminding investors that these products are not suitable for holding beyond one day.
9 minutes ago
The 'Big Short' Michael Burry warns to watch long-term US Treasuries, which are facing multiple pressures including surging AI-related debt and oil prices approaching $100.
"The Big Short" prototype Michael Burry posted that people should closely monitor the trend of long-term U.S. Treasuries. Multiple factors are exerting pressure on the U.S. Treasury market, including the rapid expansion of AI-related debt, rising inflation volatility, unstable basis trading conditions, and oil prices rebounding back to nearly $100. He stated that it remains uncertain how long private equity and private credit markets can sustain themselves.
9 minutes ago
Smart money takes a triple long position on Micron, with the position valued at $25.2 million.
According to Lookonchain's monitoring, a crypto whale has just opened a 3x leveraged long position on 25,961 units of MU, valued at approximately $25.2 million. The whale had previously completed four MU long trades, all profitable, with a total profit of $2.28 million.
9 minutes ago
Semiconductor stocks were mixed in U.S. pre-market trading, with Intel rising nearly 5% while most storage and optical communication stocks declined.
According to BIT (bit.com) market data, ahead of Friday’s US pre-market trading, semiconductor stocks were mixed: Intel (INTC) rose 4.76%, Arm (ARM) gained 0.96%, and AMD (AMD) increased 0.41%; SK Hynix (SKHY) fell 2.93%, Micron Technology (MU) dropped 2.16%, Marvell Technology (MRVL) decreased 1.41%, and NVIDIA (NVDA) declined 0.72%. The storage sector saw broad declines: SK Hynix (SKHY) fell 2.93%, SanDisk (SNDK) dropped 2.19%, Micron Technology (MU) decreased 2.16%, Western Digital (WDC) declined 1.68%, and Seagate Technology (STX) fell 1.24%. Most optical communication concept stocks retreated: Nokia (NOK) dropped 2.15%, Astera Labs (ALAB) fell 1.99%, Credo (CRDO) decreased 1.86%, Ciena (CIEN) declined 1.14%, and Applied Optoelectronics (AAOI) fell 0.62%.
Key Takeaways Major institutional players including Multicoin Capital, Selini Capital, and Galaxy Digital have initiated withdrawals totaling approximately $150M in HYPE tokens The token experienced an 8% decline, touching $58 before finding support at $59.19 Pending withdrawals represent nearly 2x the token’s daily spot trading volume of $72.8M Selini Capital’s withdrawal appears connected to the termination of a HIP-3 perpetuals market operated by DreamCash Multicoin’s managing partner Tushar Jain publicly stated the unstaked tokens aren’t intended for immediate sale; withdrawal completion scheduled for July 28 The HYPE token from Hyperliquid experienced a sharp 8% correction from its recent peak this Wednesday following news that three prominent cryptocurrency investment funds have initiated withdrawal processes for approximately $150 million worth of tokens.
Hyperliquid (HYPE) Price The breakdown shows Multicoin Capital controlling $138.78 million in staked HYPE tokens, with approximately $116 million currently pending withdrawal from the staking protocol. Meanwhile, Selini Capital has queued $4.4 million and Galaxy Digital has initiated a $29.4 million HYPE withdrawal request.
On-chain tracking also revealed that a cryptocurrency wallet associated with Multicoin transferred approximately 167,000 HYPE tokens—valued around $11.2 million—to the Coinbase exchange. HYPE’s price momentarily dipped to $57.39 before stabilizing at $59.19, per CoinGecko data. The 24-hour trading activity exceeded $415 million.
Multicoin-linked wallet moves 490K $HYPE (~$29.48M) in 2 days
A wallet likely belonging to Multicoin Capital just moved 93K $HYPE (~$5.48M) to fresh wallets.
New addresses:
• 0xFA2173AD69De51769d75934AcBCF5C2382B1B7F1
• 0x257F1352204A01f59abC5bc60384Bf4c1e5f8B70
This follows… pic.twitter.com/InfWQIXYFF
— Onchain Lens (@OnchainLens) July 23, 2026
Massive Withdrawal Queue Creates Market Imbalance The sheer magnitude of the $150 million withdrawal request represents almost twice the daily spot market activity for HYPE. Data from Block Liquidity indicates that spot market volume reached only $72.8 million during approximately 28 hours preceding Wednesday’s movements. Market participants included 1,463 distinct buyers versus 982 sellers. Wintermute emerged as the dominant net buyer with purchases exceeding $9 million, while the top net seller disposed of $5.2 million worth of tokens.
Over the trailing seven-day period, HYPE has declined approximately 11%, marking it as the weakest performer within the top 10 cryptocurrencies by market capitalization during this timeframe. ETF monitoring platform CoinGlass registered zero inflows on Wednesday, following Tuesday’s $0.7 million outflow. The token’s Futures Open Interest currently stands at $2.5 billion, reflecting a modest 0.5% decrease over 24 hours.
Technical analyst CryptosBatman highlighted on X that HYPE has breached its 50-day moving average following a six-month sustained rally above this threshold. The analyst identified a developing bearish continuation pattern and projected a subsequent price target of $55, derived from the 1.618 Fibonacci extension level—a price point that coincides with an important support zone.
After a 6-month rally above the 50-day MA, $HYPE has broken down from it.
Not just a usual breakdown, but a bearish continuation has formed as well.
The next target based on the 1.618 Fibonacci extension is $55, right at a support level. pic.twitter.com/mhDl4htYSo
— BATMAN ⚡ (@CryptosBatman) July 23, 2026
Understanding the Institutional Exit Strategy Selini Capital’s withdrawal decision appears directly linked to the closure of DreamCash’s HIP-3 CASH perpetuals market. The protocol architecture requires market operators to stake 500,000 HYPE tokens as collateral, which gets returned upon market termination. Market intelligence suggests Selini Capital may liquidate its HYPE holdings through over-the-counter trading desks.
The rationale behind Multicoin’s substantial unstaking remains more ambiguous. The venture firm recently spearheaded a $1.75 million seed funding round for Trasia, an Asian-focused trading infrastructure planning to introduce perpetual contracts for Asian equity markets on the Hyperliquid platform. Managing partner Tushar Jain clarified on X that the unstaked HYPE tokens weren’t earmarked for immediate liquidation.
The critical July 28 unlock deadline will provide definitive answers regarding the ultimate destination of these substantial token positions.
Currently, HYPE trades beneath its 50-day exponential moving average positioned at $62.52. For bullish momentum to return, the token must recapture the $60.72 level and cross back above the 50-day EMA to improve near-term technical sentiment. The Relative Strength Index hovers around 40 while the MACD indicator persists below the zero line, both technical signals suggesting ongoing bearish pressure.
The 200-day EMA at $50.77 continues to hold as a critical long-term support threshold.
A crypto whale has staked 2.93 million $HYPE tokens worth approximately $172 million in a single 24-hour window, according to on-chain analytics firm Lookonchain. The deposits were spread across 19 separate wallets, which analysts believe are controlled by the same holder.
The position was originally accumulated around nine months ago, leaving the whale sitting on an unrealized profit of roughly $44.5 million at current prices.
Why Staking $HYPE Matters The move is notable not just for its size but for what staking actually entails. Hyperliquid uses a delegated proof-of-stake consensus mechanism called HyperBFT, where validators must stake HYPE to participate in consensus and users can delegate their tokens to validators to earn staking rewards while helping secure the network. Stakers earn rewards following a dynamic formula inversely proportional to the square root of total HYPE staked, with rewards accruing every minute and distributed daily with automatic recompounding.
From a supply perspective, the decision to stake rather than sell carries a clear market signal. Staking removes tokens from liquid supply, tightening float, and ties validator economics to the token's price rather than fee revenue alone.
A Pattern of Large-Scale Accumulation This is not an isolated event. On-chain data has shown a consistent pattern of large holders locking up significant positions in recent months. Lookonchain data from June showed that three newly created wallets withdrew a combined 557,406 HYPE from Kraken and staked the tokens, a holding worth about $40.2 million at the time. Separately, Bitwise staked 1.775 million HYPE worth roughly $114 million on Hyperliquid, as reported by Lookonchain, through its Bitwise Hyperliquid ETF, which launched on NYSE Arca in May 2026.
The tokenomics reinforcing these decisions are also notable. Up to 97% of all trading fees generated on the platform are used to buy HYPE from the open market, creating persistent demand pressure that scales with trading volume. HYPE has a fixed maximum supply of 1 billion tokens, and the supply can only decrease over time through burns.
The whale's decision to stake rather than liquidate a position carrying tens of millions in unrealized gains suggests a longer-term conviction on the protocol's trajectory, even as other large holders, including Multicoin Capital, have recently moved to reduce their exposure.
Sources:
Bloomingbit: Hyperliquid Whale Buying Continues as $60 Million in Exchange Withdrawals Emerges
Hyperdash: HYPE Token Tokenomics, Staking and Buybacks
Bitcoin.com: Bitwise Stakes $114 Million in HYPE on Hyperliquid
Three major cryptocurrency investment firms have initiated the withdrawal of approximately $150 million in HYPE tokens from Hyperliquid, prompting an 8% decline in the token’s value and raising questions about market stability as institutional positions unwind.
Major holders move to withdrawHyperliquid, a decentralized exchange known for its derivatives marketplace, saw pronounced activity from key institutional stakeholders including Multicoin Capital, Selini Capital, and Galaxy Digital. Multicoin Capital, a prominent venture firm with significant influence in the digital asset sector, currently controls $138.78 million in staked HYPE tokens and has set in motion the withdrawal of about $116 million from the staking protocol.
Meanwhile, Selini Capital and Galaxy Digital have also joined the exodus, lining up withdrawals of $4.4 million and $29.4 million respectively. On-chain data showed a wallet linked to Multicoin sending around 167,000 HYPE (valued at approximately $11.2 million) to the Coinbase exchange, suggesting possible preparations for a major transaction.
As the news circulated, HYPE’s price tumbled briefly to $57.39 before recovering to $59.19. Over the past 24 hours, trading activity for HYPE surpassed $415 million. However, the amount of pending withdrawals nearly doubles the daily spot trading volume, which stood at $72.8 million within the latest 28-hour window.
FundPending HYPE WithdrawalMulticoin Capital$116 millionGalaxy Digital$29.4 millionSelini Capital$4.4 millionBlock Liquidity recorded 1,463 buyers against 982 sellers during this period, with market maker Wintermute accumulating more than $9 million in net buys. The top net seller offloaded tokens valued at $5.2 million.
Market reaction and trading metricsHYPE has lost roughly 11% over the preceding seven days, underperforming other top ten digital assets by market capitalization in the same period. Data from CoinGlass revealed no inflow into HYPE ETF instruments on Wednesday, following a modest outflow of $0.7 million on Tuesday. Futures Open Interest stands at $2.5 billion, registering a 0.5% decrease in 24 hours.
Technical analyst CryptosBatman identified a key technical shift as HYPE slipped below its 50-day moving average after maintaining strength above this level for six months. The analyst forecast a correction towards $55, which aligns with the 1.618 Fibonacci extension, suggesting a crucial support target as selling pressure mounts.
Markets have observed HYPE break down from its 50-day moving average, forming a bearish continuation pattern. Projections indicate that $55 is the next notable price level to watch, as it coincides with key technical support.
Institutional withdrawal motivationsSelini Capital’s move to withdraw tokens has been connected to the shutdown of DreamCash’s HIP-3 CASH perpetuals market. The protocol’s design mandates that market operators stake 500,000 HYPE tokens as collateral, which are reclaimed when the market closes. Observers believe Selini may offload these tokens using over-the-counter channels.
Multicoin Capital’s unstaking is somewhat less transparent. The firm recently led a $1.75 million seed round for Trasia, an infrastructure project aiming to introduce perpetual contracts for Asian equities on the Hyperliquid platform. Tushar Jain, Multicoin’s managing partner, clarified on X that the tokens being unstaked are not intended for immediate sale, and the withdrawal process will complete on July 28.
Although significant amounts are being withdrawn, these tokens are not planned for immediate sale on the open market, according to Multicoin Capital’s leadership.
The final disposition of these tokens will become clearer after the unlock date. Until then, the market faces continued speculation about potential selling pressure and sentiment shifts.
Technically, HYPE now trades below its 50-day exponential moving average at $62.52. For a bullish reversal, the token must regain levels above $60.72 and reclaim the 50-day EMA to reestablish upward momentum. The Relative Strength Index is hovering near 40, while the MACD indicator remains below zero—both factors indicate persistent bearish sentiment. The 200-day EMA, currently at $50.77, continues to serve as a crucial long-term support.
Mini dictionary: Hyperliquid, a decentralized derivatives exchange, allows users to trade perpetual contracts and offers staking mechanisms for native tokens such as HYPE. Institutional staking refers to large-scale holders securing blockchain networks or supporting market operations while earning rewards.
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.
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) is expected to post its Q2 2026 results before the market opens on Friday, July 31st. Analysts expect Cameco to announce earnings of $0.31 per share and revenue of $573.7270 million for the quarter. Parties can find conference call details on the company’s upcoming Q2 2026 earning report for the latest details on the call scheduled for Friday, July 31, 2026 at 8:00 AM ET.
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The company had revenue of $607.49 million during the quarter, compared to analyst estimates of $598.63 million. During the same quarter last year, the business posted $0.16 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts expect Cameco to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Cameco Trading Down 1.0% NYSE CCJ opened at $89.47 on Friday. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. Cameco has a 1-year low of $68.96 and a 1-year high of $135.24. The firm’s fifty day simple moving average is $101.60 and its 200-day simple moving average is $110.66. The company has a market capitalization of $38.97 billion, a PE ratio of 82.85, a price-to-earnings-growth ratio of 1.43 and a beta of 1.02.
Institutional Investors Weigh In On Cameco Several institutional investors and hedge funds have recently made changes to their positions in the company. Mcguire Capital Advisors Inc. bought a new position in Cameco during the 4th quarter valued at about $28,000. Corient Private Wealth LLC increased its holdings in shares of Cameco by 1,339.8% during the fourth quarter. Corient Private Wealth LLC now owns 964,552 shares of the basic materials company’s stock worth $88,247,000 after buying an additional 897,558 shares in the last quarter. Alpine Woods Capital Investors LLC raised its stake in shares of Cameco by 57.6% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 9,766 shares of the basic materials company’s stock valued at $893,000 after acquiring an additional 3,568 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Cameco by 9.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,208 shares of the basic materials company’s stock worth $1,025,000 after acquiring an additional 939 shares in the last quarter. Finally, Vident Advisory LLC grew its position in Cameco by 5.5% during the 4th quarter. Vident Advisory LLC now owns 511,768 shares of the basic materials company’s stock worth $46,822,000 after acquiring an additional 26,699 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.
Analyst Ratings Changes CCJ has been the subject of a number of recent research reports. Royal Bank Of Canada raised their price target on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Sanford C. Bernstein restated an “outperform” rating and issued a $135.00 price objective on shares of Cameco in a research note on Monday, June 15th. Barclays decreased their target price on Cameco from $108.00 to $104.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 15th. Weiss Ratings lowered shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Finally, TD Securities downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cameco currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.18.
Read Our Latest Analysis on Cameco
Cameco Company Profile (Get Free Report)
Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.
The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.
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Announcements from OpenAI and Anthropic continue to wreak havoc on certain sectors of the market, and the latest victim appears to be UiPath (PATH -4.63%), which as of midday Thursday had dropped by almost 15% from its peak over the prior few days. That slump in its stock price appeared to stem from OpenAI launching a new offering this week called OpenAI Presence. That solution is designed to help organizations better deploy AI agents by connecting those agents to the systems that house the organization's data, policies, workflows, guardrails, and existing software.
Presence can handle both real-time voice and chat interactions as well as help automate tasks such as resolving employee IT requests, fixing billing issues, and supporting insurance claims. The solution only gives AI agents access to the information and systems they need to complete their defined jobs, and clients can preset conditions when a person should take over or when human approval for an action is required.
Image source: The Motley Fool.
Software bots still have their uses While that may sound like what UiPath is doing in the robotic process automation and agentic AI arenas, there are some major differences. OpenAI Presence is largely aimed at deploying AI agents for things like customer service, sales, human resources, and IT support. These are all tasks that need probabilistic solutions, which AI handles very well. However, UiPath and its software bots have always been more focused on issues revolving around deterministic behavior. This includes rules-based tasks for things such as data entry or payroll. These are also tasks where management teams may be unwilling to take the risk that an AI hallucination will mess up the results. It's also much cheaper to use software bots than AI agents in cases where software bots can automate a particular task.
UiPath has also developed an agentic AI platform called Maestro, and while Presence could compete against this offering, Maestro has some clear advantages. The first is that it can determine which tasks need AI agents and which can be handled by cheaper software bots, and assign those tasks to the appropriate tools. AI expenses have been on the rise, and organizations are now making an effort to keep them in check. A solution like Maestro can save money while helping organizations manage a growing number of third-party AI agents and making sure they get the most value possible for their spending.
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Another important differentiation is that UiPath's Maestro platform is model-agnostic. Just as enterprises don't want to rely too much on a single vendor, they also don't want to be beholden to an AI model from a single company. Relying on OpenAI Presence is a bet on OpenAI's models, but that adds risk. If an AI model gets pulled (as happened recently with Anthropic's Claude Mythos 5) or a better model comes out, it is safer to have software layers that are separate from AI model vendors.
Overall, the pullback in UiPath stock that was triggered by the launch of OpenAI Presence looks overdone. UiPath could play an important role in the future of enterprise AI agent orchestration, and with the stock trading at a forward P/E ratio of about 13.5 and a price-to-sales (P/S) ratio of just above 3, it's an AI stock worth betting on.
SummaryBlackstone reported very strong Q2 results.However, it remains out of favor with Mr. Market.I take a look at the headwinds and share why I believe that the current stock price weakness presents a golden buying opportunity.Looking for a portfolio of ideas like this one? Members of High Yield Investor get exclusive access to our subscriber-only portfolios. Learn More » MicroStockHub/E+ via Getty Images
About three months ago, I wrote an analysis of Blackstone (BX) Q1 results and highlighted that I believed it was a great buy on the post-earnings dip. Since then, the stock has generated positive
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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.
CME Group (NASDAQ:CME) reported record second-quarter revenue and near-record trading activity, while executives used much of the company’s second-quarter 2026 earnings call to address investor questions about perpetual futures and outline a slate of new product launches.
Chairman and CEO Terry Duffy said second-quarter average daily volume was 29.8 million contracts, the second-highest second quarter in the company’s history and within 1% of the record set a year earlier. He said May and June were particularly strong following a difficult April comparison. Open interest ended the quarter up 8% from a year earlier and 16% since the start of 2026.
Duffy also said CME delivered record capital efficiencies, saving customers an average of more than $95 billion in margin per day. He said 94% of CME’s first-half volume came from institutional customers, a figure he used repeatedly to frame the company’s response to questions about perpetual futures.
Revenue Hits Second-Quarter Record Lynne said CME generated more than $1.7 billion in revenue during the second quarter, up 1% from the same period in 2025. She said that marked a second-quarter record and the company’s second-highest quarterly revenue total ever, behind the first quarter of 2026.
The average rate per contract was $0.678, up $0.026 from the first quarter. Market data revenue rose 20% to $238 million, which Lynne said extended CME’s streak to 33 consecutive quarters of year-over-year market data revenue growth and marked the eighth straight quarter of record market data revenue.
Adjusted expenses were $521 million, or $412 million excluding license fees. Adjusted operating income totaled $1.2 billion, producing a 69.5% adjusted operating margin. Adjusted net income was $1.1 billion, and adjusted diluted earnings per share were $2.99, up 1% from the second quarter of 2025. Lynne said the adjusted net income margin was 63.4%.
CME returned $1.2 billion to shareholders in the quarter, including $468 million in regular quarterly dividends and $695 million through share repurchases.
For the first half of 2026, Lynne said volume was 10% ahead of the prior year, revenue increased 8% and adjusted diluted earnings per share rose 10%. She also said July volumes to date were tracking 18% ahead of the prior year.
Executives Push Back on Perpetual Futures Concerns Duffy said recent discussion of perpetual futures had overshadowed CME’s business performance. He argued that although the products are often described as futures, they function more like leveraged spot instruments and are not substitutes for the institutional hedging tools used by CME’s core customers.
“Perpetual futures are in no way substitutes for the institutional hedging tools that these customers rely on,” Duffy said. He said the products do not provide price or time certainty, which he called necessary components for hedging exposures.
Duffy said CME has the technical and operational capabilities to launch perpetual futures and has contract specifications ready if customer demand or market structure changes justify it. However, he said the company has not heard demand from its core customers. In response to a question from Jefferies analyst Dan Fannon, Duffy said he had spoken with senior executives and derivatives users at major institutional participants, including a large commercial energy firm, and was told they did not want CME to list the product.
Tim added that CME’s cryptocurrency business has continued to grow even as crypto perpetuals have existed outside the U.S. He said CME’s suite of cryptocurrency futures and options was up 44% in the first half of 2026 compared with the first half of 2025, and up 76% in June from a year earlier. He said CME was seeing between $4.5 billion and $6.5 billion per day in trading across its cryptocurrency complex, compared with about $270 million at a Bitcoin perpetual product introduced by Kalshi in July.
Duffy also raised concerns about whether perpetual products should be classified as swaps, citing the exchange of payments through funding rates. In response to Deutsche Bank analyst Brian Bedell, he said CME believes its litigation will show that such products are swaps, not futures.
New Products Include Crypto, Gold, Single Stock Futures and Compute Futures Duffy highlighted several product initiatives, including 24/7 trading for crypto futures, 24/7 trading for CME’s one-ounce gold contract, Single Stock futures, Treasury Link and Compute Futures.
He said Single Stock futures are scheduled to launch the following week and will simplify directional trading with capital efficiency. Duffy acknowledged that Single Stock futures had failed in an earlier market cycle but said timing is important and that current market conditions make the product more relevant.
Tim said CME’s equity complex has shown momentum, with second-quarter average daily volume of 8.6 million contracts, up 13% year over year. He said June equity volume was 10.1 million contracts, up 54% from a year earlier, while July volumes were running about 40% to 50% above July 2025. He also said the new Single Stock futures will be financially settled against the closing print of each stock.
Julie said retail brokers globally were “extremely excited” about the Single Stock futures launch and described the product as a significant retail growth catalyst. She said more than 35 retail partners were targeting readiness for day-one or week-one activity.
Duffy and Derek Sammann also discussed Compute Futures, which CME plans to launch in partnership with Silicon Data later in 2026. Sammann said the product will be a daily benchmark tracking the spot hourly rental cost of NVIDIA H100 GPUs. He said the contracts are intended to provide price discovery and risk-management tools for data centers, AI labs, cloud providers, asset managers, banks, energy firms, hedge funds and professional trading firms.
Market Data, Prediction Markets and Treasury Link On market data, Julie said CME’s second-quarter revenue benefited from pricing, professional subscriber growth, derived data revenue and growth in simulation trading device accounts. She said professional subscribers rose 3.5% quarter over quarter, while simulation trading device accounts were up 56% year over year. The quarter also included about $7 million in audits and catch-up payments for prior periods, compared with $3.8 million in the first quarter.
Asked about prediction markets, Lynne said CME has handled about 525 million event contracts since launch, including about 48 million contracts related to market events. She said more than 140,000 accounts traded event contracts during the quarter, up about 13% from the prior quarter, and average daily volume was above 4 million, up about 40% from the first quarter. Duffy said CME is being careful about its product set and repeated his view that some sports-related prediction markets resemble gambling.
At the end of the call, Duffy asked for additional commentary on Treasury Link, a planned fourth-quarter 2026 offering. Mike said Treasury Link will enable centralized spread trading between Treasury futures and BrokerTec cash Treasuries on CME Globex, using FX Link technology. He said the product is designed to connect two major U.S. Treasury liquidity pools and reduce execution lag risk in cash-futures spread transactions.
Duffy closed the call by emphasizing CME’s institutional base, capital efficiencies and product pipeline, saying the company remains focused on expanding its marketplace while maintaining protections and market integrity.
About CME Group (NASDAQ:CME) CME Group Inc is a global markets company that operates some of the world’s largest and most liquid derivatives exchanges, including the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX) and COMEX. The firm offers futures and options contracts across a broad range of asset classes — including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals — and serves a diverse client base of institutional investors, commercial hedgers, brokers and retail participants.
The company’s core services include electronic trading on the CME Globex platform, central clearing through CME Clearing, and distribution of market data, indexes and analytics.
Bitcoin ETFs snap seven-day inflow streak with $225M in outflowsAfter attracting nearly $1 billion over seven trading sessions, US-listed spot Bitcoin ETFs recorded their first daily net outflow since July 13.
US-listed spot Bitcoin exchange-traded funds (ETFs) ended a seven-session inflow streak on Thursday, marking their first day of net outflows since July 13.
Spot Bitcoin ETFs recorded $225.2 million in net outflows on Thursday, attracting nearly $1 billion in net inflows over the last seven trading sessions, according to SoSoValue.
Despite Thursday’s outflows, the funds had still attracted about $274 million in net inflows this week as of Thursday.
Source: SoSoValue
The outflows came as Bitcoin briefly slipped below $65,000 after US stocks fell amid renewed tensions between the US and Iran. Bitcoin traded at $65,403 at the time of publication after falling as low as $64,600, according to CoinGecko.
Bitcoin market sentiment also weakened, with the Crypto Fear & Greed Index falling 3 points to 28 and remaining in “fear” territory on Friday, according to Alternative.me.
Meanwhile, US-listed spot Ether ETFs extended their inflow streak to five, attracting a net $26.3 million on Thursday, according to SoSoValue.
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
Spot Bitcoin ETFs saw more than $225 million in net outflow on Friday, breaking an inflow streak of almost two weeks. Institutional investors are strategically rotating into U.S. Treasuries amid rising US Treasury yields, oil prices amid the US-Iran war, and Trump’s new global tariffs.
Spot Bitcoin ETFs Record First Outflows After Many Days US-listed spot Bitcoin ETFs recorded $225.18 million in net redemptions in the latest session, according to Farside Investors data on July 24. This ended a seven-day period of positive flows that saw nearly $1 billion in inflows.
BlackRock Bitcoin ETF (IBIT) led with a $202.5 million outflow, followed by Bitwise’s BITB and Fidelity’s FBTC. Other exchange-traded funds also saw outflows. In contrast, Morgan Stanley’s MSBT recorded $5 million in inflows.
Spot Bitcoin ETFs Record Outflow. Source: Farside Investors Just as spot Bitcoin ETF inflows triggered a rebound in BTC price to almost $67K, sentiment among institutional investors has again shifted. Institutions are now rotating capital out of spot Bitcoin ETFs.
BTC price has dropped more than 3% in the last two days amid the US-Iran war escalation and delays in passing the Clarity Act before the August recess.
US Treasury Yields Rising to Record Levels The latest spot Bitcoin ETF outflows come as institutions rotate to U.S. Treasuries amid rising bond yields. The benchmark 10-year Treasury yield (US10Y) reached about 4.71% on Friday, marking one of its highest levels in 18 months.
10-Year Treasury Yield jumps above 4.7% for the first time since January 2025 🚨 🚨 Houston, we have a problem 😱 pic.twitter.com/cXXR2llFoj
— Barchart (@Barchart) July 24, 2026
Economist Peter Schiff warned that the yield on the 30-year Treasury jumped to 5.18%, its highest since April 2006. He added that the U.S. national debt was $8.35 trillion at that time. However, it has now spiked fivefold to $39.6 trillion.
“The U.S. can’t afford these rates, let alone the much higher rates we’ll soon be forced to pay,” Peter Schiff warned.
Moreover, Trump’s latest global tariff package has heightened concerns about a further deterioration in trade relations between the US and its key partners. In addition, rising oil prices amid escalating US-Iran war have raised chances of Fed rate hikes.
Higher financing costs could increase government interest expenses and potentially lead to additional borrowing and fiscal spending needs, further worsening the trajectory of U.S. debt growth.
Market expert BIT (formerly Matrixport) warned that “Japan may gradually sell U.S. Treasuries to support the rapidly depreciating yen.” Meanwhile, China continues to diversify its foreign exchange reserves by reducing its U.S. Treasury holdings and increasing its gold reserves.
Outflows may continue in spot Bitcoin ETFs as institutional investors rotate capital to less risky assets such as US bonds and gold.
For retail and institutional traders aiming to hedge against geopolitical tensions by mirroring central bank behaviors, using the best platforms to trade tokenized commodities like gold provides an on-chain alternative with 24/7 liquidity.
In This Article Bitcoin ETF News: Seven Days of Inflows Snapped by -$225M OutflowWhy IBIT Keeps Winning Despite Not Being the Cheapest OptionBitcoin ETF News: Grayscale GBTC, The Fund That Still Drags the Whole ComplexThe CLARITY Act Catalyst and What It Actually Moved In Bitcoin news today, US spot BTC ETF funds recorded nearly $1Bn in net inflows over seven consecutive sessions through July 22, 2026 – their longest positive run in 11 weeks, with BlackRock IBIT capturing $319.16M of the $499.05M added this week alone.
However, that streak has already come to an end, as yesterday’s session closed with -$225M in outflows, even as Bitcoin has held steady above $65,000 despite ETF sell pressure.
Bitcoin climbed above $66,000 during the streak’s strongest two sessions, July 20 and July 21, according to 247 Wall St. The catalyst was news that President Trump had agreed to the ethics rules holding up the CLARITY Act.
This bipartisan digital-asset legislation, which would establish clearer regulatory boundaries for crypto markets, appeared to unlock a wave of institutional demand.
Bitcoin ETF News: Seven Days of Inflows Snapped by -$225M Outflow
(SOURCE: CoinGlass)
The last outflow day was July 13, when investors pulled $424.66M, the heaviest single-day withdrawal of the month. Since then, money has come back in every session, but not uniformly.
Flows on July 14 reached $181.08M, then faded to $107.80M on July 15, $79.15M on July 16, and recovered to $132.30M on July 17, according to CoinGlass data.
The two dominant sessions arrived with the CLARITY Act headlines. July 20 logged $226.92M, and July 21 added $203.14M as Bitcoin price pushed through $66,000.
By July 22, daily inflows had retreated to $68.99M, the weakest session of the entire streak. That deceleration pattern was telling, as yesterday saw -$225M in outflows, snapping the seven-day streak as a result.
The last time institutional demand for Bitcoin through ETF vehicles sustained this kind of multi-day consistency was in early October 2025, when Bitcoin was trading near its all-time high of approximately $126,000.
Why IBIT Keeps Winning Despite Not Being the Cheapest Option BREAKING: Bitcoin ETFs attracted +$900 million in inflows last week, the largest weekly inflow since early May.
This marks a sharp acceleration from +$197 million in inflows in the prior week.
The largest Bitcoin ETF, $IBIT, led the surge, attracting +$193 million last week,… pic.twitter.com/tr8lo363oX
— The Kobeissi Letter (@KobeissiLetter) July 22, 2026
The fee structure alone doesn’t account for IBIT’s dominance. Despite Fidelity FBTC charging no management fees and holding $11.38Bn in AUM, IBIT leads with $48.86Bn in AUM. Over ten years, the 0.25% annual fee for IBIT compounds significantly for long-term investors.
247 Wall St. attributes IBIT’s success to its distribution advantages. BlackRock’s products are familiar to pension managers and registered advisers, making purchasing IBIT a seamless experience with minimal compliance hurdles, rendering the fee less important.
Trading volume also highlights this concentration: on July 22, IBIT accounted for nearly 79% of the $1.11Bn in total trading across all 13 spot Bitcoin ETFs. IBIT holds 3.70% of all Bitcoins, while the other twelve ETFs combined hold only 2.38%, indicating significant institutional activity in IBIT during this period.
DISCOVER: The Next 1000x Crypto Gem Before It Lists on Binance
Bitcoin ETF News: Grayscale GBTC, The Fund That Still Drags the Whole Complex In other Bitcoin ETF news, Grayscale GBTC, the Grayscale Bitcoin Trust that converted from a closed-end fund to a spot ETF, remains the single largest structural headwind to the ETF complex’s net position. Since converting to ETF format, GBTC has shed $27.42Bn in cumulative outflows. On July 22 alone, another $38.30M left the fund.
The fee differential is the root cause. Grayscale charges 1.50% annually. IBIT charges 0.25%. For an investor holding $100,000 for five years, that 1.25 percentage-point gap compounds to roughly $6,500 in additional fees, before considering any performance difference.
The cumulative effect is that GBTC’s outflows have overwhelmed the genuine demand visible in IBIT and, to a lesser extent, other competitors.
Total net inflows across all 13 Bitcoin ETF funds stand at $51.85Bn since launch, but that figure is what remains after subtracting $ 27.42Bn from GBTC. Without GBTC’s drag, the headline numbers for the ETF complex would look considerably stronger.
$BTC — If we somehow deviate back and reclaim 65.5K on 4HR TF, we'll quickly see 70Ks!
Else chop continues till 64K.
I'm optimistic about upside movement due to the relative strength our orange coin had despite SPY weakness yesterday.
70K+ $BTC is programmed in the next few… pic.twitter.com/Ug9eGaGPUX
— Friedrich 🧲 (@FriedrichBtc) July 24, 2026
Trade BTC on ByBit and Join 99Bitcoin’s Exclusive $1000 USDT Airdrop
The CLARITY Act Catalyst and What It Actually Moved The CLARITY Act, or Digital Asset Market Clarity Act, had been stalled due to ethics-related disputes. Reports on July 20 about President Trump’s agreement to the ethics rules spurred significant inflows into the market.
Regulatory clarity reduces compliance risks, potentially allowing institutional investors like pension funds and insurance companies to hold Bitcoin ETFs more freely.
The $226.92M and $203.14M inflow days on July 20 and 21 indicate that institutions were anticipating this change, although yesterday’s large outflow has capped any bullish momentum built on a seven-day inflow streak.
However, if procedural delays arise again, the momentum could continue to flip red, as seen in the reduced $68.99M inflow on July 22, followed by yesterday’s outflow, both lacking fresh regulatory support.
EXPLORE: Best Crypto Presales With Asymmetric Upside in the Current Market
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Alex is a seasoned cryptocurrency trader and market analyst with over seven years of active experience in the digital asset space. Since entering the markets in 2017, Alex has specialized in identifying emerging "meta" trends and high-volatility narratives. Notably, Alex... Read More
