The Daily Market Flux - Your Complete Market Rundown (07/29/2025)

**Market Flux is the new standard in financial news aggregation, we’re committed to providing you with a complete, real-time view of the financial world.** Our platform aggregates and organizes all relevant market news, helping you stay informed, up-to-date, and knowledgeable without spending hours sifting through headlines. Reinvented to keep you in control, it's where your edge begins with better information. Go from market noise to clarity in seconds with a real-time platform built to redefine how traders and investors digest financial news. Visit [www.marketflux.io](http://www.marketflux.io/) # Stock Markets Events # Stock Market Rally Halts as Earnings and Fed Decision Take Center Stage In today's financial news, the stock market experienced a mixed day with notable movements across various sectors. The S&P 500 snapped its six-day record streak, closing down 0.3%, while the Nasdaq declined 0.4%. Wall Street lost steam amid a post-earnings slump in big names such as UnitedHealth, Merck, and Boeing. # Sarepta Stock Soars, Leads Market Movers in Dramatic Pre-Market Surge Sarepta Therapeutics stock skyrockets over 40% in pre-market trading, causing significant market movement. # VeriSign Shares Tumble Following Berkshire's Massive Stock Sell-Off VeriSign's stock plummets as Warren Buffett's Berkshire Hathaway sells $1.23 billion worth of shares. # Fixed Income And Interest Rates Events # Treasury Secretary Bessent Reports Progress in China Talks, Warns of Potential Tariff Changes In a series of statements and interviews, US Treasury Secretary Scott Bessent provided insights into recent trade talks with China and other economic matters. The discussions, which took place in Stockholm, focused on broad economic frameworks rather than specific issues like TikTok or a potential Trump-Xi meeting. # Treasury Yields Pause as Investors Eye Fed Meeting and Economic Data Treasury yields pause before key data and Fed meeting. Bond investors show risk appetite in a 'Goldilocks' economy. # Treasury Yields Plummet as 7-Year Note Auction Draws Strong Demand US Treasury yields experienced a significant drop, with the 10-year yield falling 8 basis points to 4.342%. The 30-year yield reached its lowest point since July 11. # Oil Prices Surge as Trump Comments on Low Rates; Treasury Criticizes China's Russian Oil Purchases Oil prices surged today, with Brent crude futures settling at $72.51 per barrel, up 3.53%. U.S. crude oil futures closed at $69.21, rising 3.75%. President Trump commented that oil prices are currently low. # Ethereum Treasury Race Intensifies as SharpLink and BitMine Expand Holdings SharpLink Gaming expands its Ethereum treasury to 438,190 ETH, rivaling MicroStrategy's Bitcoin strategy. BitMine maintains lead in ETH holdings despite SharpLink's purchase. # Companies Embrace Solar Power and Digital Assets in Treasury Strategies PowerBank activates a 3.79 MW solar project, integrating it with a bitcoin treasury plan. The Geddes Solar Project goes live, powering their new strategy. # Sweden's Prime Minister Backs EU-U.S. Trade Deal in Talks with Treasury Secretary U.S. Treasury Secretary Bessent reveals discussions with Sweden's Prime Minister regarding the EU-U.S. trade deal. # Macro Events # Treasury Secretary Bessent Reports Progress in China Talks, Warns of Potential Tariff Changes In a series of statements and interviews, US Treasury Secretary Scott Bessent provided insights into recent trade talks with China and other economic matters. The discussions, which took place in Stockholm, focused on broad economic frameworks rather than specific issues like TikTok or a potential Trump-Xi meeting. # Consumer Confidence Inches Up Despite Cooling Job Market The latest economic data reveals a mixed picture of the US job market and consumer sentiment. According to the US Labor Department's June JOLTS report, job openings fell to 7.437 million, slightly below the expected 7.5 million and down from May's revised figure of 7.712 million. This decline suggests a cooling in the labor market, with the job openings rate dropping to 4.4% from 4.6% in May. # US-China Tariff Pause Hangs in Balance as Trump Set to Decide As the deadline approaches, India faces potential US tariffs of 20-25%. Meanwhile, the focus shifts to US-China trade relations. Treasury Secretary Bessent announces a meeting with President Trump tomorrow regarding the China tariff pause. Some technical details are still being worked out. # Spanish Economy Outperforms Expectations with Strong GDP and Retail Sales Growth Spain's Q2 GDP growth surpasses expectations, rising 0.7% quarter-on-quarter and 2.8% year-on-year. # US and China Agree to Extend Trade Tariff Truce After Stockholm Talks The United States and China have concluded their latest round of trade talks in Stockholm, marking the end of a two-day negotiation session. In a significant development, both nations have agreed to extend their trade tariff truce, as announced by China's chief trade negotiator, Li Chenggang. # Trump Hints at Possible 20-25% Tariffs on India, Trade Deal Still in Flux President Donald Trump provided updates on trade negotiations with China and India. He reported a "very good meeting" with the China trade team after speaking with Bessent. # US Goods Trade Deficit Shrinks Dramatically, Beating All Forecasts The U.S. advance goods trade deficit narrowed significantly in June, surprising economists and markets. The deficit shrank to $86.0 billion, well below the expected $98.0 billion and May's $96.6 billion figure. # Treasury Yields Pause as Investors Eye Fed Meeting and Economic Data Treasury yields pause before key data and Fed meeting. Bond investors show risk appetite in a 'Goldilocks' economy. # Bitcoin Holds Steady Near $117K as Fed Decision Looms; Institutional Demand Surges Bitcoin's price remains steady around $117,000 as the cryptocurrency market braces for the Federal Reserve's upcoming rate decision. President Trump is pressuring Fed Chair Powell to cut rates, but experts anticipate no change due to above-target inflation. # ECB Survey Shows Dip in Short-Term Inflation Expectations, Long-Term Outlook Stable The European Central Bank's latest consumer survey reveals a shift in inflation expectations. Consumers now anticipate inflation over the next 12 months to be 2.6%, down from 2.8% in May. However, longer-term inflation expectations remain steady, with 3-year and 5-year projections unchanged at 2.4% and 2.1% respectively. # IMF Sounds Alarm on Weakening Global Economy Amid Trade Concerns The IMF warns of a weakening global economy, vulnerable to trade shocks. Chief Economist Gourinchas notes mounting evidence of significant trade impacts. # Euro Zone Consumers Lower Inflation Expectations as ECB and BoE Data Show Mixed Economic Signals Mortgage and refinance rates remain steady as markets await this week's Fed meeting. In the UK, BoE Consumer Credit for June exceeded expectations at £1.417B. # Nordic Economies Show Mixed Performance as Sweden's GDP Improves Despite Missing Forecasts Finland's June GDP declined 0.2% year-over-year. Sweden's GDP showed mixed results, with Q2 growth at 0.9% YoY, below forecasts but up QoQ. June's indicator improved to 1.0% YoY. # Trump Administration Prepares Strict Pharma Policy, Massive Tariffs Loom U.S. Commerce Secretary Lutnick reveals Trump's upcoming pharmaceutical policy announcement. Expected within two weeks, the plan aims to be more stringent, potentially including a "massive" tariff on non-U.S. made pharmaceuticals. # India Prepares for U.S. Tariffs While Eyeing Trade Deal India is bracing for potential U.S. tariffs of 20-25% while simultaneously working towards a trade agreement. # P&G Raises Prices Amid Tariff Pressures, New CEO Incoming Procter & Gamble announces price hikes on US products due to tariff impacts. The company estimates a $1 billion hit from tariffs affecting 25% of its products. # Trump Uncertain About Russian Tariff Impact, Awaits Response President Trump addresses Russia's lack of response to tariff deadlines. He expresses uncertainty about the impact on Russia, stating he doesn't worry about Russian oil. # Trump Administration Pushes to Eliminate Greenhouse Gas Regulation Authority The Trump administration is advancing plans to dismantle the U.S. government's authority to regulate greenhouse gases. # Consumer Confidence Soars, Job Openings Slightly Miss Mark US July Consumer Confidence surges to 97.2, surpassing estimates of 96.0 and previous month's 93.0. # US Economic Data Mixed as Markets Shrug Off Trump's Trade Deal Ambiguities US economic indicators show mixed results. Retail inventories ex-auto remained flat, while wholesale inventories increased slightly. The goods trade balance deficit narrowed more than expected. # Trump Administration Faces Backlash Over Environmental and Trade Policies The Trump administration is facing criticism on multiple fronts regarding environmental and trade policies. A major US oil refining trade group has challenged Trump's biofuel and tariff policies in a letter to top Republican lawmakers, warning of potential cost spikes for refineries and consumers. # German Economy Minister Warns of EU's Weak Negotiating Position and Tariff Burden The German Economy Minister has issued a stark warning about the EU's negotiating position, describing it as weak and in need of change. # Companies Adjust Forecasts as EU-US Trade Deal Reshapes Tariff Landscape The EU-US trade deal has significantly impacted various companies. Philips revised its estimated tariff impact to €150-200 million, down from €250-300 million, while maintaining its 2025 sales growth forecast. The company continues to advocate for healthcare tariff exemptions. # Sweden's Prime Minister Backs EU-U.S. Trade Deal in Talks with Treasury Secretary U.S. Treasury Secretary Bessent reveals discussions with Sweden's Prime Minister regarding the EU-U.S. trade deal. # Trump Administration Weighs 90-Day Trade Extension Option U.S. Trade Representative Jamieson Greer suggests a 90-day extension as a potential option for President Trump's approval. # Earnings Events # UnitedHealth Misses Q2 Profit Estimates, Lowers 2025 Outlook Amid Rising Medical Costs UnitedHealth Group, the health insurance giant, has released its second-quarter results, disappointing investors with lower-than-expected earnings and a downbeat outlook for 2025. The company reported adjusted earnings per share of $4.08, falling short of the estimated $4.48. Revenue, however, met expectations at $111.6 billion. # Starbucks Misses Earnings Target Despite Revenue Beat, While Visa Posts Strong Q3 Results Starbucks and Visa have released their Q3 2025 earnings reports, revealing contrasting results. # Spotify Shares Tumble as Earnings Disappoint and Tax Burden Weighs on Outlook Spotify reports a second-quarter loss, missing estimates. The company forecasts lower-than-expected third-quarter profit due to higher taxes, causing shares to sink. # PayPal Beats Q2 Earnings Estimates, Raises Full-Year Guidance on Strong Venmo Growth PayPal has reported strong second-quarter earnings for 2025, surpassing Wall Street estimates and demonstrating a continued upward trajectory. The digital payments giant posted impressive figures, with adjusted earnings per share of $1.40, beating the expected $1.30, and revenue of $8.29 billion, exceeding the estimated $8.09 billion. # Boeing Soars Past Q2 Expectations, Signaling Strong Recovery in Production and Deliveries Boeing's Q2 2025 earnings report has exceeded expectations, showcasing a remarkable turnaround for the aerospace giant. The company reported a core loss per share of $1.24, beating estimates of $1.40. Revenue soared to $22.75 billion, a 35% year-over-year increase, surpassing forecasts of $21.45 billion. # Mondelez Beats Q2 Expectations, Maintains Optimistic Full-Year Outlook Mondelez International reported strong Q2 2025 results, beating estimates. Revenue reached $8.98B, surpassing the expected $8.84B. Adjusted EPS of $0.73 exceeded the $0.68 forecast, while reported EPS was $0.49. # Visa Posts Robust Q3 Earnings, Driven by Steady Consumer Spending Visa reports strong Q3 earnings, with an 8% profit increase. The company attributes the growth to resilient consumer spending, despite economic challenges. # SoFi Surpasses Expectations with Q2 Earnings and Boosts 2025 Guidance SoFi has reported a strong Q2 performance, exceeding expectations with an adjusted EPS of $0.08 and revenue of $858.230 million. This impressive growth is attributed to a surge in membership and an expansion of financial services. # Booking Holdings Smashes Q2 Earnings Expectations, Outperforming in All Key Metrics Booking Holdings (BKNG) has released its Q2 2025 earnings, surpassing expectations across the board. # P&G and Sysco Beat Q4 Expectations, Offer Optimistic Outlooks; P&G Announces New CEO Procter & Gamble and Sysco both reported strong Q4 2025 earnings, beating expectations. P&G's revenue reached $20.9B with adjusted EPS of $1.48, up 6% YoY. The company maintained robust cash flow despite challenges. # Qorvo Stock Skyrockets on Impressive Q1 Earnings and Robust Outlook Qorvo's stock surges after-hours as Q1 earnings significantly exceed expectations. # Royal Caribbean Stock Plunges on Revenue Miss, Despite Strong Earnings Royal Caribbean's stock drops despite beating earnings expectations. Revenue falls short of estimates, disappointing investors despite accelerating cruise demand. # Seagate Technology Smashes Q4 Earnings Expectations, Issues Robust Q1 Guidance Seagate Technology reports strong Q4 2025 earnings, beating estimates. Revenue soars 30% YoY to $2.44B, while adjusted EPS jumps 147% to $2.59. # L'Oréal Reports Mixed Q2 Results, CEO Warns of EU-US Trade Deal Impact on European Cosmetics L'Oréal, the global cosmetics giant, has released its second-quarter financial results, revealing a mixed performance across markets. The company reported sales of EUR 10.74 billion, a 2.4% increase like-for-like, slightly below the 2.9% consensus expectation. # Geopolitics Events # US-China Tariff Pause Hangs in Balance as Trump Set to Decide As the deadline approaches, India faces potential US tariffs of 20-25%. Meanwhile, the focus shifts to US-China trade relations. Treasury Secretary Bessent announces a meeting with President Trump tomorrow regarding the China tariff pause. Some technical details are still being worked out. # UK Signals Intent to Recognize Palestinian State, Pressures Hamas Amid Israeli Hardline Stance In a dramatic shift in Middle East politics, UK Prime Minister Rishi Sunak has announced plans to recognize a Palestinian state, aiming to change conditions in Gaza. This move is part of a broader push towards a two-state solution between Israel and Palestinians. # Trump Shortens Russia's Ukraine Deadline as EU Trade Deal Faces Criticism President Donald Trump has made several significant moves in international relations and trade. He has issued a new, shortened deadline to Russia for a Ukraine truce, giving Vladimir Putin "10 or 12 days" to halt the war. The Kremlin has remained silent on this ultimatum, which analysts suggest Russia is likely to ignore. # Trump Issues 10-Day Ultimatum to Russia for Ukraine Peace Deal, Threatens Tariffs President Donald Trump has issued a stern ultimatum to Russia regarding the ongoing conflict in Ukraine. In a series of statements, Trump announced that Russia has been given a 10-day deadline to reach a truce or peace agreement with Ukraine. # Trump Hints at Possible 20-25% Tariffs on India, Trade Deal Still in Flux President Donald Trump provided updates on trade negotiations with China and India. He reported a "very good meeting" with the China trade team after speaking with Bessent. # Kremlin Responds to Trump's Ukraine Ceasefire Proposal, Reaffirms Military and Peace Commitments The Kremlin has acknowledged Trump's statement on a shorter ceasefire deadline in Ukraine. Russia affirms its ongoing military operation while expressing commitment to a peace process that considers Russian interests. # US Trade Deficit Narrows Unexpectedly, Wholesale Inventories Rise US economic indicators show mixed results for June. Wholesale inventories unexpectedly rose 0.2%, while retail inventories increased 0.3% as estimated. # Israeli Foreign Minister Defends Gaza Stance as Public Opinion Shifts Israeli Foreign Minister Gideon Saar has made several statements regarding the ongoing conflict in Gaza. He asserts that while the situation is "tough," claims of starvation are exaggerated. Saar emphasizes that over 5,000 aid trucks have entered Gaza in the past two months, and Israel is willing to work with partners on airdrops. # U.S.-China Trade Talks Resume Amid Investor Push for Tariff Reductions Investors are signaling a desire for tariff reductions as U.S.-China trade talks resume. Japan's recent trade deal with the U.S. has eased some uncertainties, but risks persist. Economy Minister Akazawa emphasizes the need to monitor downside risks from remaining tariffs. # Trump Weighs Trade Deals as August 1 Deadline Approaches Commerce Secretary Lutnick discusses Trump's trade decisions. Deals are on the table for consideration by August 1, including EU steel and aluminum. # China and US Hold Constructive Trade Talks, Emphasize Stable Relations China's top trade negotiator Li reports on recent US-China trade talks. The two sides engaged in candid, in-depth discussions, utilizing their trade consultation mechanism. # Trump Administration Pushes to Eliminate Greenhouse Gas Regulation Authority The Trump administration is advancing plans to dismantle the U.S. government's authority to regulate greenhouse gases. # US Economic Data Mixed as Markets Shrug Off Trump's Trade Deal Ambiguities US economic indicators show mixed results. Retail inventories ex-auto remained flat, while wholesale inventories increased slightly. The goods trade balance deficit narrowed more than expected. # Trump Likely to Skip G20 Summit, May Send Representative Instead President Trump expresses uncertainty about attending the upcoming G20 Summit in South Africa. # Trump Mixes Business and Pleasure in Scotland, Unveils New Golf Course President Trump's recent trip to Scotland blended his love for golf and business. The visit featured the opening of a new 18-hole course on his property, where he played alongside former athletes and business leaders. # Trump's Tariffs Soar to Historic Highs as Fed Signals Potential Rate Cut The financial world is abuzz with anticipation as the Federal Reserve is expected to signal a potential rate cut in September. This news comes alongside positive movements in cryptocurrencies, with Bitcoin, Ethereum, and Ripple on the verge of another breakout. # US Job Openings Fall Short of Expectations, Signaling Potential Labor Market Shift US JOLTS job openings for June came in at 7.437 million, lower than the expected 7.5 million and previous 7.769 million. # US Successfully Repatriates Minor Citizen from Syrian Displaced Persons Camp The US State Department announced the repatriation of a minor US citizen from a displaced persons camp in northeast Syria last week. # Trump Anticipates Meeting with Chinese President Xi President Trump announces a potential meeting with Chinese President Xi before year's end. # House Judiciary Committee Investigates Spotify for Alleged Censorship The US House Judiciary Committee has launched an investigation into Spotify over concerns of free speech censorship. # Trump Administration Weighs 90-Day Trade Extension Option U.S. Trade Representative Jamieson Greer suggests a 90-day extension as a potential option for President Trump's approval. # Technology Events # Nvidia's AI Dominance Grows with China Expansion and Revolutionary Power System Partnership Nvidia continues to dominate the AI landscape, with its stock gaining momentum as AI chip sales are poised to boom in China. The tech giant's market capitalization has now surpassed the combined value of Amazon, Tesla, and Netflix, reaching an astounding $4.3 trillion. This growth is largely attributed to Nvidia's strong position in the AI market. # Microsoft Negotiates Long-Term Access to OpenAI Tech, Reshaping Partnership Microsoft is in advanced negotiations with OpenAI to revise their partnership agreement. The talks aim to secure long-term access to OpenAI's technology, even if Artificial General Intelligence (AGI) is achieved. # Apple Loses Key AI Researcher to Meta's Superintelligence Team Apple faces another setback as AI researcher Bowen Zhang departs for Meta's superintelligence team. # AI Startup Anthropic Poised for Multibillion-Dollar Funding at Staggering Valuation Anthropic, an artificial intelligence startup, is on the verge of securing a massive funding round. # Misc Tag Events # IMF Raises Global Growth Forecast, U.S. and China Show Promising Outlook The International Monetary Fund (IMF) has released its latest World Economic Outlook, revealing a mixed picture of global economic health. Despite initial concerns about weakening and vulnerability to trade shocks, the IMF has raised its global GDP growth estimate for 2025 to 3.0%, up from 2.8% in April. # JPMorgan Chase Poised to Acquire Apple's Credit Card Program JPMorgan Chase is on the verge of finalizing a deal to acquire Apple's credit card program. # China Launches Massive Childcare Subsidy Program to Combat Declining Birth Rates China unveils unprecedented childcare subsidies to boost fertility rates. The government offers parents up to $1,500 annually, marking a significant shift towards social welfare spending. # NYSE Parent ICE Negotiates Billion-Dollar Acquisition of Energy Data Platform Intercontinental Exchange (ICE), parent of the New York Stock Exchange, is in negotiations to acquire Enverus, an energy data platform. # Temasek Boosts Stake in Ermenegildo Zegna, Stock Rises Temasek, Singapore's state investment firm, is set to increase its stake in Italian luxury fashion house Ermenegildo Zegna to 10%. # U.S. Ambassador Anticipates Imminent Canada-U.S. Trade Agreement The U.S. Ambassador to Canada expresses optimism about an imminent trade deal between the two nations. # Bausch Health Acquires Durect, Sending Stocks Soaring Bausch Health announces acquisition of Durect for $1.75 per share, with potential additional milestone payments up to $350M. # Stellantis Restores Guidance, Braces for Billion-Euro Tariff Impact Stellantis reinstates full-year guidance after tariff uncertainty. # DOJ Dismisses Challenge to Amex GBT's CWT Acquisition The U.S. Department of Justice has dismissed its complaint challenging American Express Global Business Travel Group's acquisition of CWT Holdings. # Ecolab Reports Mixed Q2 Results: Revenue In-Line, Profit Slightly Misses Ecolab's Q2 earnings report shows mixed results. # Healthcare Events # Novo Nordisk Shares Tumble as Weight-Loss Drug Sales Disappoint Novo Nordisk's shares plummeted 12% following a surprise update to its financial forecast. The pharmaceutical giant slashed its full-year sales and operating profit outlook, citing weaker-than-expected U.S. sales of Wegovy, its flagship weight-loss drug. # AstraZeneca Exceeds Q2 Profit Expectations, Fueled by Strong Cancer Drug Sales AstraZeneca surpasses Q2 profit expectations, maintaining its outlook. The pharmaceutical giant reports impressive sales growth and rising profits, driven by its cancer medicine portfolio. # Biotech Stocks Fluctuate as Trial Results and FDA Designations Shake Sector Fulcrum Therapeutics reports mixed results from their sickle cell disease drug trial, causing stock fluctuations. Despite positive data, shares fall. # Biotech Stocks Surge on Promising Drug Developments and FDA Feedback Scinai Immunotherapeutics' stock soars as new clinical data validates $1B market potential for their skin disease treatment, PC111. The antibody shows promise for pemphigus and SJS/TEN, supported by a peer-reviewed publication. # Merck Slashes Costs as Drug Patents Expire; Novo Nordisk Downgrades Forecast Merck announces $3 billion in annual cost cuts, including job reductions, as it prepares for competition to its top-selling cancer drug Keytruda. The company also faces weak demand for Gardasil in China. # FDA Pushes to Classify 7-OH Opioid Compound as Controlled Substance FDA Commissioner Makary announces recommendation to schedule 7-OH opioid compound as a controlled substance. The compound, found in vape products, drinks, and children's gummies, is a kratom byproduct. # Biotech Breakthroughs: Promising Therapies for Rare Diseases Gain Traction Scinai's PC111 antibody shows promise as a disease-modifying therapy for pemphigus and SJS/TEN, according to a new peer-reviewed publication. # HHS and FDA Target Kratom Products Amid Task Force Controversy Robert F. Kennedy Jr., as HHS Secretary, announces plans to restrict kratom, a product with opioid-like effects. The FDA, led by Commissioner Marty Makary, recommends scheduling the 7-OH opioid compound to the DEA. This crackdown comes after complaints from the supplement industry. # Crypto Events # eToro Revolutionizes Trading with 24/5 Expansion and Tokenized Stocks on Ethereum In a groundbreaking move, eToro has announced plans to expand its 24/5 trading to 100 U.S. stocks and ETFs, while also launching tokenized equities as ERC20 tokens on the Ethereum blockchain. This innovative approach aims to bridge traditional markets with decentralized finance (DeFi), allowing users to redeem tokenized stocks for real assets on the platform. # Strategy Acquires 21,021 Bitcoin Following Massive $2.52 Billion IPO Michael Saylor's company, Strategy, has made a significant move in the cryptocurrency market. Following a successful $2.52 billion initial public offering (IPO) of its STRC stock, the company immediately purchased 21,021 Bitcoin for approximately $2.46 billion. # SEC Approves Direct Crypto Redemptions for Bitcoin and Ethereum ETFs, Boosting Market Efficiency The U.S. Securities and Exchange Commission (SEC) has made a significant decision regarding cryptocurrency Exchange-Traded Products (ETPs). The regulatory body has approved in-kind creations and redemptions for Bitcoin and Ethereum ETFs. # Ethereum Treasury Race Intensifies as SharpLink and BitMine Expand Holdings SharpLink Gaming expands its Ethereum treasury to 438,190 ETH, rivaling MicroStrategy's Bitcoin strategy. BitMine maintains lead in ETH holdings despite SharpLink's purchase. # BitMine Unveils Massive $1 Billion Stock Buyback Plan BitMine, a major Ethereum holder, announces a $1 billion stock repurchase program. # Tether-Backed Twenty One Capital Boosts Bitcoin Holdings Ahead of Listing Twenty One Capital, backed by Tether, is set to acquire 5,800 additional Bitcoin. # iPower Unveils Blockchain Strategy, Expands into Digital Asset Market iPower unveils a comprehensive digital asset strategy, signaling a major push into the Web3 ecosystem. # SEC Acknowledges BlackRock's Filing for Ethereum ETF Staking Feature BlackRock's spot Ethereum ETF takes a significant step forward. The SEC acknowledges the asset manager's filing to permit staking for the ETF. # Bitcoin Faces Pullback as Altcoins Gain Traction, but Analysts Predict Imminent Surge Bitcoin dominance declines, signaling potential altcoin season. Coinbase's BTC premium streak at risk as U.S. investor demand slows. # Ethereum Dominance Surges as Bitcoin Eyes Breakout; Cardano Poised for Rally Ethereum's open interest dominance has surged to 40%, the highest since April 2023, indicating a potential shift in capital from Bitcoin to Ethereum. This comes as ETH price approaches $4,000. # Senator Lummis Proposes Bill to Include Crypto in Mortgage Eligibility Senator Cynthia Lummis introduces the 21st Century Mortgage Act, proposing to include digital assets in mortgage eligibility assessments. # Standard Chartered Predicts Massive Growth in Corporate Ethereum Holdings Standard Chartered Bank predicts corporate treasuries could hold up to 10% of Ethereum's total supply in the future. # Corporate Actions Events # Palo Alto Networks Poised to Acquire CyberArk in $20 Billion-Plus Deal Palo Alto Networks is reportedly nearing a deal to acquire cybersecurity firm CyberArk for over $20 billion. The Wall Street Journal reports that the deal could be finalized as soon as this week. # Union Pacific's $85 Billion Norfolk Southern Acquisition Creates Historic Coast-to-Coast Rail Giant Union Pacific agrees to acquire Norfolk Southern for $85 billion, creating the first coast-to-coast rail shipping company in U.S. history. # Rail Giants' Merger Faces Union Opposition Union Pacific announces a historic $85 billion deal to acquire rival Norfolk Southern at $320 per share, creating a mega U.S. railroad merger. # Barclays Unveils Profit Surge, Launches Billion-Pound Buyback Barclays reports a strong financial performance for the first half of the year, with profits soaring 23% to £5.2 billion. # Whirlpool Shares Tumble on Reduced Outlook and Dividend Cut Whirlpool's stock plummets as the company slashes its earnings forecast and dividend. The appliance maker cites the impact of tariffs as a key factor in its decision. # Anghami Stock Tumbles Following Reverse Split Announcement Anghami announces a 1-for-10 reverse stock split to meet Nasdaq requirements. The news causes the company's stock to fall. # SoFi Announces $1.5 Billion Stock Offering, Shares Decline SoFi Technologies, Inc. has announced a $1.5 billion public offering of common stock. # Figma IPO Draws Overwhelming Demand, Oversubscribed by 40 Times Figma's highly anticipated IPO is generating massive interest, with reports indicating it's nearly 40 times oversubscribed. # Wells Fargo Boosts Quarterly Dividend by 12.5% to $0.45 Per Share Wells Fargo & Company has announced a significant increase in its quarterly dividend. # Legal Events # SEC Approves Direct Crypto Redemptions for Bitcoin and Ethereum ETFs, Boosting Market Efficiency The U.S. Securities and Exchange Commission (SEC) has made a significant decision regarding cryptocurrency Exchange-Traded Products (ETPs). The regulatory body has approved in-kind creations and redemptions for Bitcoin and Ethereum ETFs. # SEC Acknowledges BlackRock's Filing for Ethereum ETF Staking Feature BlackRock's spot Ethereum ETF takes a significant step forward. The SEC acknowledges the asset manager's filing to permit staking for the ETF. # Real Estate Events # UK Financial Indicators Surpass Expectations, Led by Strong Mortgage Lending UK's June financial data exceeds expectations across multiple indicators. Consumer credit rises to £1.417B, surpassing the estimated £1.2B. Mortgage approvals reach 64,167, higher than the forecast of 63.1K. # Housing Market Shows Mixed Signals Amid New Rules and Ongoing Challenges New mortgage affordability rules have given an immediate boost to housing sales, offering a glimmer of hope in an otherwise troubled market. Home prices have posted their smallest increase in nearly two years, providing some relief to buyers. # US Housing Market Cools as Home Prices Show Continued Weakness The US housing market shows signs of cooling. The House Price Index for May declined 0.2% month-over-month, matching expectations but improving from April's revised -0.3%. # Senator Lummis Proposes Bill to Include Crypto in Mortgage Eligibility Senator Cynthia Lummis introduces the 21st Century Mortgage Act, proposing to include digital assets in mortgage eligibility assessments. # Oil And Gas Events # Oil Prices Rise as Baker Hughes Acquires Chart Industries, Natural Gas Futures Show Promise Baker Hughes makes a strategic $13.6 billion acquisition of Chart Industries, betting on LNG and data center demand. OPEC+'s oil strategy appears less costly, while oil prices rise on trade war relief. # Oil Prices Surge as Trump Comments on Low Rates; Treasury Criticizes China's Russian Oil Purchases Oil prices surged today, with Brent crude futures settling at $72.51 per barrel, up 3.53%. U.S. crude oil futures closed at $69.21, rising 3.75%. President Trump commented that oil prices are currently low. # Oil Prices Climb as Russia Revises Refining Capacity and Industry Players Make Strategic Moves Russia's offline oil refining capacity for July has been revised upward by 6.3% to 4.1 million tonnes, while August's capacity is planned at 3.3 million tonnes. Reuters calculations confirm these figures. # Russian Oil Discount Narrows Despite Sanctions; U.S. Production Surges Russia's Urals crude is trading at its smallest discount since the Ukraine war began in 2022, indicating new European sanctions have yet to impact prices. The U.S. Treasury expresses displeasure with China's Russian oil purchases. # Duke Energy Sells Tennessee Gas Business in Billion-Dollar Deal Duke Energy announces the sale of its Tennessee Piedmont Natural Gas business to Spire for $2.48 billion. # Environment Events # Experts Warn of Unfolding Famine Crisis in Gaza UN-backed experts warn that famine is now unfolding in Gaza, describing it as the 'worst-case scenario'. # Currencies Events # UBS Reins in Complex Currency Product Sales UBS takes action to limit the sale of complex currency products.