US Stock Futures Dive Further

Following last week’s unexpectedly weak U.S. jobs data that cooled rate hike expectations, markets will closely monitor the U.S. July CPI and PPI data set to release on Wednesday, which will further clarify the Federal Reserve’s subsequent policy path. In addition, U.S. optical module giants Lumentum and Coherent, as well as computing infrastructure firm CoreWeave, will release their earnings reports this week, wrapping up the semiconductor earnings season. Key events for the coming week are as follows: Monday: The Bank of Japan releases the summary of opinions from its July Monetary Policy Meeting members; Unitree Robotics opens its IPO subscription, with an IPO price of RMB 150.8 per share. The STAR Market IPO plans to issue 40.4464 million shares, representing 10% of the total share capital post-issuance; each lot consists of 500 shares, requiring a total subscription payment of approximately RMB 75,400. Tuesday: Weekly change in U.S. ADP employment for the week ending July 25; Wednesday: Earnings calls for optical module leader Lumentum and AI computing power leasing firm CoreWeave (held after U.S. market close on Tuesday); U.S. July CPI and core CPI; U.S. EIA crude oil inventories for the week ending August 7; Thursday: Cisco (CSCO) earnings call at 4:30 AM UTC+8 (held after U.S. market close on Wednesday); Coherent releases its earnings on the same day; U.S. initial jobless claims for the week ending August 8; U.S. July PPI; 2026 FOMC voter and Cleveland Fed President Harlan Harker delivers a speech; 2027 FOMC voter and Richmond Fed President Thomas Barkin speaks on the economic outlook; Friday: Applied Materials (AMAT) earnings call at 4:30 AM UTC+8 (held after U.S. market close on Thursday); U.S. July retail sales month-over-month rate; U.S. preliminary August University of Michigan Consumer Sentiment Index, preliminary one-year inflation expectation, and June business inventories month-over-month rate.

Alliance co-founder Imran stated on X that competition between Pump and Fomo could act as a key catalyst to drive onchain finance into the mainstream. The rivalry between the two platforms will push onchain finance from its current niche status on Crypto Twitter to products accessible to mass consumers. Imran also pointed out that with the growth of transaction-focused content creators and trading-related content such as Market Bubble and Counterparty, the onchain finance industry could expand by at least an order of magnitude in the future. Earlier reports noted that pump.fun is using incentive programs to attract users from FOMO platforms to its application. According to its disclosed protocol documents, pump.fun intends to provide eligible users with a one-time $20,000 signing bonus plus a fixed monthly stipend of $30,000.

SpaceX recently announced a partnership with Tesla, with an initial investment of $16.8 billion to build the Terafab chip facility in Texas, U.S. A blogger reported that based on updates from Terafab, Elon Musk appears to be adopting the "Free Electron Laser (FEL)" technology route to challenge ASML's LPP EUV light source and upend the traditional monopoly of EUV chip production technology. Musk's subsequent response seemingly confirmed this claim, as he posted the phrase "FEL FTW" (FEL For The Win). Judging from Terafab's slender factory design and Musk's reply, the facility will likely use FEL technology. While Musk's push for FEL is still a conjecture, it has sparked heated discussions among industry insiders. FEL boasts advantages such as high power, high coherence, tunable wavelength, and higher energy efficiency; theoretically, it can push lithography light sources from 13.5nm to 6nm or even shorter wavelengths. However, the massive accelerator system, cost, and mass production stability remain the biggest challenges for its industrialization. (Sing Tao News)

U.S. President Donald Trump said Sunday local time he is prepared to escalate economic pressure on Iran rather than order new military operations, despite Tehran continuing to confront Washington. The Axios report notes that in a brief phone call, Trump said, “We’re handling this quietly. We’re only in semi-negotiations. We’re just watching Iran. They’re facing severe inflation and a shortage of funds.” He emphasized Iran’s economy is “in very bad shape” and lacks the funds to pay its military salaries. The U.S. maritime blockade has deepened the Iranian regime’s economic crisis. Meanwhile, Trump said U.S. consumers are feeling less pain from potential conflict as oil prices have fallen to just over $75 per barrel. “It will work out. It always works out. It’s like playing chess,” Trump added, referring to the ongoing back-and-forth with Iran.

Strategy CEO Phong Le published a post stating that Bitcoin has once again demonstrated resilience, even amid Strategy’s sell-off, security threats, stalled Senate legislation, and a soft fork.

According to Iran's Mehr News Agency, the National Security and Foreign Policy Commission of Iran's parliament has approved the outline of the strategic action plan to ensure the security and development of the Strait of Hormuz. (Xinhua News Agency)