Along with SpaceX's stock price hitting a new high, its mascot-named meme coin ASTEROID surged 50% in tandem.

Surging energy prices, new U.S. tariffs, and a sharp rise in AI capital expenditures have reignited global investor concerns about inflation. Brent crude topped $100 for the first time in two months, retreating to $98.38 on Friday, but still notching a nearly 12% weekly gain. Markets expect the Federal Reserve, Bank of England (BOE), and Bank of Japan (BOJ) to hold interest rates steady next week, though federal funds futures show a 35% probability of a 25-basis-point Fed hike next week, with a September increase already fully priced in. On the macro front, next week will bring consecutive rate decisions from the Fed, BOE, and BOJ, plus key data including U.S. second-quarter GDP, June core PCE, Eurozone second-quarter GDP, and July CPI. Key scheduled events are as follows: Tuesday at 20:15 ET, U.S. weekly ADP employment change for the week ended July 11. Thursday at 02:00 ET, Fed FOMC rate decision; 02:30 ET, Fed Chair Jerome Powell holds a monetary policy press conference; 19:00 ET, BOE announces its rate decision, meeting minutes, and monetary policy report; 20:30 ET, U.S. initial jobless claims, June core PCE, personal spending, and second-quarter GDP data. Friday, the BOJ will release its rate decision and economic outlook report (time to be determined); 14:30 ET, BOJ Governor Kazuo Ueda holds a press conference; 22:00 ET, U.S. July final University of Michigan consumer sentiment index and 1-year inflation expectation. Separately, SK Hynix will release its second-quarter earnings on July 29 at 8:00 ET. Meta, Microsoft, Robinhood, Qualcomm, and Arm will report after U.S. market close on Wednesday, while Apple, Amazon, Coinbase, Reddit, and Roblox will do so after Thursday’s close. Investors will closely monitor the tech giants’ AI-related capital expenditures and returns on investment. Alphabet had earlier raised its 2024 capital expenditure forecast to $205 billion, with its spending plans and negative free cash flow already sparking market concerns.

SK Hynix is set to release its second-quarter earnings on the 29th, and following Samsung Electronics, the chipmaker is also expected to post a record-high profit for the period. According to reports from 14 securities firms compiled by South Korean financial information provider Yonhap Infomax over the past month, SK Hynix’s second-quarter revenue and operating profit are projected to reach 84.0597 trillion won and 64.0899 trillion won, respectively. The projected second-quarter operating profit is about 17 trillion won higher than the full-year 2023 operating profit of 47.2 trillion won. Adding the 37.6103 trillion won operating profit from this year’s first quarter, SK Hynix’s first-half operating profit alone will exceed 100 trillion won. Earlier this month, Samsung Electronics also released its preliminary earnings report, with its Device Solutions (DS) division delivering strong performance, logging an operating profit of 89.4 trillion won. If SK Hynix’s results meet market expectations, the combined operating profit of the two companies for the second quarter will exceed 150 trillion won. (Jinshi)

South Korean media reports that amid the rapid growth of South Korea’s exchange-traded fund (ETF) market this year, individual investors’ net purchases of ETFs have reached 70 trillion won, equivalent to 70% of their net purchases in the main stock board. Even as South Korea’s stock market has seen a correction this month, retail investors’ net purchases have continued to rise. According to data released by the Korea Exchange (KRX) and financial data firm Yonhap Infomax on the 26th, as of the 24th, South Korean individual investors’ net ETF purchases this year stood at 69.5 trillion won, approaching the 70 trillion won mark. In the same period, their net purchases in the main stock board totaled 109.9 trillion won, accounting for 63.2% of their total net purchases in the main board. In other words, for every 10 million won retail investors allocate to main board investments, 6.3 million won goes to ETFs.

The mysterious whale (0xf292) has built a 2.10M $CXMT ($13.04M) short position and is now up ~$502K. The whale also has another $4.32M in $CXMT limit short orders waiting to be filled. Current liquidation price: $13.45.

Arthur Hayes(@CryptoHayes) bought another 645 $ETH ($1.2M) 9 hours ago. Since July 15, Arthur Hayes has bought a total of 3,915 $ETH ($7.47M) at an average price of $1,909 and is now down ~$113K.

The Kobeissi Letter stated in a post that the total market capitalization of global stock markets has climbed to 137% of global GDP, near its all-time high. Since April 2025, this ratio has risen by 40 percentage points cumulatively, now matching the peak level hit during the 2021 meme stock craze. In contrast, the peak ratio of global stock market total capitalization to GDP before the 2008 financial crisis stood at around 120%. This month, the total market cap of global equities reached a record $166 trillion, with the U.S. stock market accounting for roughly $77 trillion, or approximately 46% of the global total. AI is fueling the historic growth in stock markets.