U.S. Stock Market Midday Update

Hut 8 Mining fell 12.87%, with increased trading volume. Based on recent key news:

1. On July 28, NVIDIA signed a lease agreement worth up to $50 billion with Hut 8. The agreement involves Hut 8's Beacon Point data center campus in Texas, with an initial 15-year lease valued at $19.6 billion, which could rise to $50.2 billion if renewal options are exercised. Following the announcement, the market expressed doubts about Hut 8's future profitability, leading to a decline in stock price. Source: Hong Kong Economic Journal

2. On July 28, NVIDIA may sublease the data center to its Neocloud partners, who purchase NVIDIA's GPUs and sell AI cloud computing services. This move is seen as a signal of NVIDIA's strategic shift, strengthening control over the AI supply chain. The market is concerned about Hut 8's long-term profitability, further pressuring the stock price. Source: Financial Times

3. On July 29, KBW raised Hut 8's target price from $138 to $157, maintaining an "Outperform" rating. Despite the rating upgrade, the market still harbors doubts about Hut 8's long-term profitability, and the stock price failed to stop its decline. Source: Gelonghui AI industry competition intensifies, financing costs rise, and risks increase.

Stocks with High Trading Volume in the Industry

S&P Global rose 4.27%. Based on recent key news:

1. On July 28, S&P Global secured a $1.6 billion contract from the U.S. Department of Veterans Affairs, driving the stock price up. The contract will utilize S&P Global's CRM technology platform and AI technology to modernize veterans' healthcare benefits and service support systems, integrating dispersed data and streamlining processes to provide more personalized and efficient services to approximately 17.9 million veterans. Analysts expect strong performance in the company's second-quarter results, maintaining a consensus buy rating with an average target price of $238.43. Source: Zhitong Finance

2. On July 28, software stocks such as Workday, CoStar Group, and S&P Global led the S&P 500 index. Despite a general weakness in the tech sector, S&P Global continued to rise and broke through short-term moving averages. Source: Wall Street Insight

3. On July 29, S&P Global's technical indicators showed that buyers had gained short-term control, with MACD remaining above the signal line and momentum indicators improving. The stock price remains below the 200-day moving average, indicating that the long-term trend remains negative. Source: Benzinga Pro The tech sector overall is weakening, with noticeable capital inflows.

Palantir Tech rose 1.13%. Based on recent key news:

1. On July 29, Palantir is set to announce its second-quarter earnings on August 3, with the market expecting a 12.12% volatility in its stock price. Investors are eagerly anticipating its earnings performance, driving the stock price up

2. On July 28, analysts predicted that Palantir's adjusted earnings per share would be $0.35, with revenue of $1.81 billion, a significant increase compared to the same period last year. The market remains optimistic about its ongoing government and commercial momentum, further boosting the stock price.

3. On July 27, Oppenheimer reiterated its outperform rating on Palantir and set a target price of $200. Analysts believe the company will capture the growing AI demand through innovation, driving the stock price up by 3.2%. Capital expenditures in the AI industry are increasing, with significant market divergence.

Adobe rose 5.84%. Based on recent news,

1. On July 27, NVIDIA announced the establishment of an Open Security AI Alliance with several founding members, with Adobe as one of the founding members, participating in promoting AI safety and security. This move enhanced market confidence in Adobe's position in the AI field, driving the stock price up.

2. On July 28, a rotation of funds was evident, with semiconductor stocks being sold off while software stocks performed strongly. Adobe, as one of the representatives of software stocks, benefited from the inflow of funds, leading to a rise in its stock price.

3. On July 29, Adobe announced the acquisition of Topaz Labs, expanding its video and image model product line and introducing advanced AI enhancement technology. This move further enhanced Adobe's market competitiveness, driving the stock price up. The rotation of funds was evident, benefiting software stocks.

Stocks ranked among the top in industry market capitalization

SAP rose 3.98%, with increased trading volume. Based on recent key news:

1. On July 28, BMO Capital Markets upgraded SAP's rating, raising the target price from $175 to $177, maintaining an "outperform" rating. Other analysts have divergent views, with TD Cowen cutting the target price but maintaining a "buy," Piper Sandler downgrading to "neutral," and HSBC upgrading to "buy." SAP's market capitalization reached $202 billion.

2. On July 27, SAP management member Dominik Asam purchased derivatives worth €972,400, showing insider confidence in the company's prospects.

3. On July 29, Jefferies analyst Charles Brennan reiterated a buy rating on SAP, maintaining a target price of €210, praising the company's proactive AI-oriented strategy and solid second-quarter performance. Goldman Sachs also maintained a buy rating, with a target price of €215. Cloud business growth is slowing, and the Eurozone economy is weak