--- title: "July 29th External Market Headlines: Apple's market value surpasses $5 trillion during trading; stocks under Musk evaporate by $1.5 trillion; oil prices see the largest three-day drop since 2020" type: "News" locale: "en" url: "https://longbridge.com/en/news/294117389.md" description: "July 29th foreign market headlines: Apple's market value surpasses $5 trillion; stocks under Musk's control lose $1.5 trillion in market value; influenced by the easing situation in the Middle East, oil prices experience the largest three-day drop since 2020; the U.S. consumer confidence index slightly falls to 90.8 points in July" datetime: "2026-07-28T21:31:25.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294117389.md) - [en](https://longbridge.com/en/news/294117389.md) - [zh-HK](https://longbridge.com/zh-HK/news/294117389.md) --- # July 29th External Market Headlines: Apple's market value surpasses $5 trillion during trading; stocks under Musk evaporate by $1.5 trillion; oil prices see the largest three-day drop since 2020 **Global financial media's headlines of common concern last night and this morning include:** **U.S. Consumer Confidence Index Slightly Declines in July** The Conference Board released data on Tuesday showing a slight weakening in consumer sentiment in July. The public remains concerned about inflation pressures, and pessimism regarding the job market has intensified. The monthly Consumer Confidence Index fell slightly to 90.8 points. The June index was revised up to 92.2 points, and this time it not only declined month-on-month but also fell short of the market consensus expectation of 92.0 points as surveyed by Dow Jones. The survey period coincided with heightened tensions in the Middle East and rising oil prices. **Oil: Oil Prices Experience Largest Three-Day Drop Since 2020 as Middle East Tensions Ease** Oil prices recorded their worst three-day performance in over six years, influenced by signs of easing tensions in the Middle East, with both the U.S. and Iran continuing to avoid launching attacks. Brent crude fell about 16% over the past three trading days, closing around $84 per barrel on Tuesday. This marks the first significant three-day drop in global benchmark oil prices since April 2020, when concerns about oversupply emerged. **Apple's Market Value Reaches $5 Trillion for the First Time** Apple's market value reached $5 trillion for the first time during intraday trading on Tuesday, just a day after surpassing Nvidia to become the highest-valued publicly traded company. The iPhone manufacturer is set to announce its quarterly earnings on Thursday, and its stock price has risen 25% this year, outperforming other major tech peers. The stock hit a high of $342.89 on Tuesday before retreating slightly. **Elon Musk's Stock Value Plummets by $1.5 Trillion as SpaceX Lock-Up Period Approaches New Test** It has been a tough month for Elon Musk—if the world's richest man can indeed have a "tough" time. Since mid-June, the market value of SpaceX and Tesla has collectively evaporated by $1.5 trillion, with SpaceX down nearly 50% from its peak and Tesla dropping 18% since last week's earnings report. Based on the options pricing surrounding SpaceX's earnings report on Tuesday and the impending end of the lock-up period for insiders two days later, next week could be even crazier. **Meta Partners with BlackRock to Build $14 Billion AI Data Center Campus** Meta Platforms and the world's largest asset management company, BlackRock, announced on Tuesday the formation of a joint venture to develop a data center campus in El Paso, Texas, with a total development cost of approximately $14 billion. The campus is designed to have a computing capacity of 1 gigawatt and is expected to be operational by 2028. According to the agreement, the fund managed by BlackRock will hold 80% of the joint venture's equity, while Meta retains the remaining 20%. Meta will contribute land and construction assets valued at approximately $2.3 billion, while BlackRock will invest about $4.9 billion in cash, part of which comes from $12.5 billion in debt financing. To align the equity structure with the 80:20 distribution arrangement, Meta will also receive a one-time distribution of about $1 billion. **OpenAI and Anthropic Employees Circulate Petition Calling for Slower AI Development Pace** Employees at OpenAI and Anthropic PBC are circulating a petition urging the U.S. government to support the establishment of a mechanism to intentionally control the pace of artificial intelligence development when necessary, to prevent technological advancements from occurring too rapidly. Days ago, OpenAI revealed that its tools had inadvertently breached another company's internal systems. Insiders say that employees from several leading AI labs have shared this open letter with colleagues, urging the U.S. to support an international effort to set the pace for the development of more advanced AI systems when necessary. 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