Inflation "explodes" across the board! The U.S. July PPI surged 0.9% month-on-month, reaching a three-year high, and rose 3.3% year-on-year.
The U.S. July PPI exceeded expectations, leading to an expanded decline in U.S. stock futures, a rise in the dollar, and a drop in U.S. Treasury yields.
Interest rate cut expectations are further thwarted! Federal Reserve's Daly: No need for a significant rate cut in September.
The UK's Q2 GDP grew 0.3% above expectations, making further rate cuts increasingly unlikely.
Supported by AI demand, Foxconn's Q2 net profit surged 27% year-on-year, predicting a 170% increase in Q3 AI server revenue.
JD.com's Q2 revenue grew 22.4% year-on-year, exceeding expectations, while net profit fell over 50%, with new business revenue driven by food delivery soaring 198.8%.
NetEase's Q2 revenue grew 9.4% year-on-year, falling short of expectations, while net profit increased 12.5%, with slower growth in the gaming business.
Weibo's Q2 revenue slightly increased by 2% year-on-year, operating profit grew by 8%, and monthly active users reached 588 million.
CoinDesk's parent company Bullish saw its U.S. stock rise over 17% in pre-market trading, closing up 84% yesterday.
The Nikkei 225 index closed down 1.4%; the Shanghai Composite Index closed down 0.46%; the Hang Seng Index closed down 0.37%
