US-listed storage concept stocks saw their declines widen, with Seagate down 6.58% and SK Hynix falling 5.23%.
According to Bit.com’s market data, U.S. storage concept stocks have seen their losses widen, with the following declines: SanDisk (SNDK) down 1.45%, Western Digital (WDC) down 5.89%, Seagate Technology (STX) down 6.58%, Micron Technology (MU) down 4.47%, and SK Hynix (SKHY) down 5.23%.
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Trump Urges Oil Companies to Lower Oil Prices
Trump posted: "Mike Wirth, Chairman and CEO of Chevron, in an interview, outlined all the reasons his company has performed so well. The only thing he 'forgot' to mention is that without the wisdom, foresight, strength and stability of the Trump administration, the oil industry and even our entire country would have collapsed long ago! For instance, they once ousted Mike and Chevron from Venezuela, but now they are back, bigger and stronger than ever, and poised to rake in big profits! The same applies to other oil companies... Lower your retail fuel prices now!"
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US July PMI data remains stable, but the report contains hidden warning signals.
S&P Global Market Intelligence Chief Business Economist Chris Williamson stated: "Although the U.S. PMI figures released in July remained stable, the survey data shows some warning signs for the future growth trajectory. July saw a notable slowdown in production growth, linked to the third consecutive month of weak new business growth, which reflects a drawdown in inventory overhang following the unusually strong precautionary inventory accumulation in the second quarter. Additionally, intensified supply chain delays, declining exports, and further customer resistance to high prices have added greater pressure. While raw material cost inflation eased slightly, inflationary pressures remain elevated due to persistent energy prices and tariffs. In response, producers are either attempting to raise selling prices to protect profits or striving to boost production efficiency, hence factory gate price inflation stayed high in July, while employment growth also flattened. In the current environment, corporate optimism about economic growth prospects has fallen to its lowest level since last October, highlighting downside risks to the near-term outlook."
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Amazon's market capitalization surpasses $3 trillion for the first time, up 5.45% currently.
According to Bit.com market data, Amazon’s market capitalization has for the first time surpassed $3 trillion, hitting $3.09 trillion, with its stock currently up 5.45%. The stock has rallied around 17% in just the past week. Data from institutions indicates that based on fair value analysis, Amazon’s current stock price remains slightly undervalued. The stock’s all-time high reflects investors’ confidence in Amazon’s sustained growth capacity and market dominance. The company is continuously expanding its business footprint across multiple sectors including e-commerce, cloud computing, and digital streaming. Recently, Amazon Web Services (AWS) has made notable progress: AWS revenue grew 37% in the latest quarter, and after excluding one-time items, the company’s total revenue and operating profit exceeded market expectations by 2% and 11% respectively. The market responded positively to this performance, with multiple institutions including Benchmark, UBS, and TD Cowen raising their price targets for the company.
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Morgan Stanley cuts Circle's target price from $106 to $38.
Morgan Stanley has downgraded Circle (CRCL)’s stock rating from “Hold” to “Underweight” and slashed its price target for the firm from $106 to $38. Morgan Stanley analyst James Faucette noted the downgrade is primarily driven by the contraction in USDC circulation, which exposed the sensitivity of Circle’s reserve income and revealed the company’s business is shifting to a transaction revenue model with lower profit margins. The report added that Morgan Stanley has cut its USDC size forecasts for Circle by roughly 33% and 44% for 2027 and 2028 respectively, and projects the firm’s GAAP earnings per share will be about 3% and 20% below market consensus. The analyst pointed out that tokenized money market funds and bank deposit products may exert pressure on USDC balances and revenue sharing ratios, while Circle’s USYC product has a relatively weak economic model. Additionally, the agency payment business remains small in scale, with daily trading volume falling to around $41,900, implying an average transaction value of roughly $0.24. Morgan Stanley further stated that Open USD, which uses a shared governance and reserve revenue model, may raise Circle’s costs for maintaining USDC distribution channels.
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