US July PMI data remains stable, but the report contains hidden warning signals.

According to a report from The Information, five people familiar with the matter revealed that the Trump administration invited employees from multiple tech firms including OpenAI, Google, and Anthropic to the White House on Tuesday to review the finalized AI regulatory framework. The framework will establish a voluntary process for AI labs, requiring them to submit their models to the government for review before releasing them to partners and the public. The scheduled meeting takes place several days after the August 1 deadline set by an executive order in early June for the framework’s completion. One source said the meeting will be hosted by the Office of the National Cyber Director, an executive branch agency, adding that the invitation explicitly notes the session will discuss next steps for the framework and an unspecified related activity. Two sources added that the meeting is expected to feature staff-level representatives from each company, not executives, as the gathering is not intended to be a public launch of the new framework.

After South Korea raised margin requirements for single-stock leveraged ETF investors, trading activity in related products has dropped significantly, with transaction volumes falling to roughly one-tenth of their previous peak levels. Data from the Korea Exchange shows that the combined transaction volume of 16 single-stock leveraged and inverse ETFs linked to Samsung Electronics and SK Hynix on South Korea’s KOSPI market reached 1.2388 trillion won in the two trading days following the new measure’s implementation, a 58.6% decrease from the 2.9907 trillion won recorded on July 31, the day the rule took effect. Earlier, South Korean regulators lifted the minimum cash margin requirement for single-stock leveraged ETF investors from 10 million won to 30 million won. Compared with the 12.4485 trillion won in transaction volume on the last trading day before the rule’s implementation (July 30), the current trading size of these products has fallen to roughly one-tenth. The cooling of retail investor enthusiasm is particularly evident. Data indicates that retail investors’ transaction volume in single-stock leveraged and inverse products dropped to 250.7 billion won, less than a quarter of the 929.9 billion won on July 31. Analysts noted that the raised margin thresholds have initially curbed speculative capital inflows, and the trading pattern where retail investors continuously bought leveraged products during declines in underlying stocks is shifting.

According to Bit.com market data, the S&P 500’s gain has widened to 1%, hitting its highest level since July 16. The Dow Jones Industrial Average is up 1.3%, while the Nasdaq is up 1.38%. The Euro Stoxx 50 rose 1.2%, notching an intraday record high since July 6.

Aug 3 Update: #Bitcoin ETFs: 1D NetFlow: -3,321 $BTC(-$210.32M)?? 7D NetFlow: -297 $BTC(-$18.8M)?? #Ethereum ETFs: 1D NetFlow: -3,515 $ETH(-$6.52M)?? 7D NetFlow: +1,573 $ETH(+$2.92M)??

HyperChange podcast host Gali posted on social media that SpaceX’s current stock price decline may be seen as a “crazy opportunity” in hindsight, attaching a chart of SpaceX’s stock performance. Elon Musk responded, “I think so.” The chart shows SpaceX’s stock once hit a high of roughly $200 after going public before falling continuously. As of July 31, SpaceX’s stock traded at $108.37, down about 32.67% from its past year high, a notable pullback from the all-time peak, with a current market capitalization of around $1.43 trillion.

According to Bit.com market data, some US tech giants are rallying: Meta Platforms (META.O) is up over 6%, Microsoft (MSFT.O) is nearly 5% higher, Alphabet Inc. Class A (GOOGL.O) gained 3.7%, and Oracle (ORCL.N) rose 4.6%.