WS #11148
The dominant narrative remains the de-escalation of US-Iran tensions, with Strait of Hormuz traffic recovering and oil prices falling below $70. However, new signals emerge: the US has lifted export controls on Anthropic's AI models, clearing the path for its IPO. Eurozone inflation fell faster than expected to 2.8%, boosting rate-cut hopes. Microsoft is reportedly planning thousands of layoffs. Bitcoin dropped to a 21-month low near $57,700 amid Fed rate-hike fears and crypto ETF outflows. Tesla's Q2 delivery expectations are mixed, with European demand rising but US sales pressured. The Japanese yen hit a 40-year low against the dollar, raising intervention risks. Trump disclosed over $1 billion in crypto earnings, highlighting regulatory conflicts. South Korean exports surged past $100 billion in June on chip demand, a positive for semiconductor stocks. The USMCA review suggests the US is unlikely to extend the free trade deal, a negative for Mexico and Canada.
Topics
Key developments
- US lifts export controls on Anthropic's AI models, clearing path for IPO
- Eurozone June inflation falls to 2.8%, below expectations
- Microsoft reportedly planning thousands of layoffs next week
- Bitcoin drops to 21-month low below $58,000 on Fed rate fears and ETF outflows
- Japanese yen hits 40-year low against dollar, intervention risk rises
- South Korean exports surpass $100 billion in June on record chip shipments
- USMCA review: US unlikely to extend free trade deal
- Strait of Hormuz traffic recovers, oil below $70, but Iran-Oman fee plan and stalled talks persist