Most Important News

1. SpaceX Expands AI Compute Amid Starlink Ambitions, Surges Past Lock-Up Fears;
2. TSMC July Sales Jump 45%, Invest $6.3 Billion In Japan With Sony;
3. Intel Plans $15B Stock Offering, Shares Fall 4% Premarket;
4. Apple Tests China’s CXMT Memory Amid Shortages;

S&P 500 futures edged higher early Monday amid growing doubts that the US and Iran will come to a lasting resolution to the conflict in the near term.

Iran has said it is closing in on a deal with Oman to reopen the Strait of Hormuz, but Tehran has continued to resist direct negotiations with the U.S until several conditions are met.

The three major US indexes are coming off their best weeks since April. The $SPX finished last week at an all-time closing record.

Investors will closely monitor consumer and producer price index readings due out this week for the latest insights on inflation. No major economic reports are expected on Monday.

Traders will also be watching for earnings reports due out this week from consumer-facing companies such as On Holding(ONON.US) and CAVA Group, Inc.(CAVA.US), as well as technology firms including Super Micro Computer, Inc.(SMCI.US) and CoreWeave(CRWV.US).

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As of 03:26 PM Riyadh Time, top pre-market movements are as follows:

Wall Street Rallies Despite Weak US Jobs Data

S&P 500 index(SPX.US) hit record highs as July payrolls unexpectedly fell 23,000, prior months were revised down 103,000, wage growth softened, and unemployment declined to 4.1%, while CNN Fear & Greed Index rose to 63.7, signaling persistent risk-on sentiment. Read in detail>>

Iran Demands Threaten, US Blocks 55 Ships In Hormuz Stalemate

• Iran’s demands for US concessions to reopen the Strait of Hormuz raise renewed upside risk for global oil and US gasoline prices, even as WTI and Brent hover near $79 and $84, while US strategic petroleum reserves are expected to remain above 275 million barrels. Read in detail>>
• The US denied passage to 55 vessels and ordered 20 merchant ships to reroute from Iranian ports, with no negotiation consensus to ease maritime pressure.
• Trump says he's handling Iran low-key, preferring economic pressure over large-scale military action, per US sources.

Starlink AI Phone Proposal, SpaceX Shares Rebound

Investor Ross Gerber urges SpaceX(SPCX.US) to develop a Starlink-connected AI phone without apps, promising global flat-rate connectivity and backup demand, while SpaceX shares climb 3.07% above their $135 IPO price, despite Benzinga Edge signaling weak multi-horizon momentum. Read in detail>>

Ross Gerber: Alphabet, Amazon Dominate S&P 500 Earnings Growth

Ross Gerber Cites Data to Make a Point: Alphabet Inc. Class A(GOOGL.US) and Amazon.com, Inc.(AMZN.US) generated about 71% of S&P 500 Q2 earnings growth, lifting index profit expansion to 50.4% versus 32% excluding them, underscoring AI- and cloud-driven concentration risks despite strong headline macro earnings momentum. Read in detail>>

Dimon Warns Of Dollar Reserve Status Risk

Jamie Dimon warns US dollar reserve status could erode if American economic and military dominance weakens, urging $1.5 trillion Jpmorgan Chase(JPM.US) national-security investment and tighter public‑private coordination, while DXY edges to 99.70 and dollar ETFs Invesco DB US Dollar Index Bullish Fund(UUP.US), Wisdomtree Trust Bloomberg U S Dollar Bullish Fd(USDU.US), Invesco DB US Dollar Index Bearish Fund(UDN.US) show modest, divergent returns. Read in detail>>

AI Traffic Surpasses Humans, Bubble Fears Rise

Cloudflare(NET.US) reports AI-driven internet traffic already exceeding humans, validating Elon Musk’s forecast, while Michael Burry questions who funds AI agents’ social interactions. Burry holds bearish positions in NVIDIA Corporation(NVDA.US) and Palantir(PLTR.US) amid $800 billion AI capex by Amazon.com, Inc.(AMZN.US), Alphabet Inc. Class C(GOOG.US), Meta Platforms(META.US), Microsoft Corporation(MSFT.US) and Oracle Corporation(ORCL.US). Read in detail>>

TSMC July Sales Jump 45%, Invest $6.3 Billion In Japan With Sony

• Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR(TSM.US) posted July revenue of NT$467.58 billion, up 44.7% year-on-year and 5.6% month-on-month, lifting January–July sales 37%. Management guides 2026 capex to $60–64 billion and over 40% annual sales growth, driven by AI-chip demand. Read in detail>>
• Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR(TSM.US) and Sony Group Corporation American Depositary Shares(SONY.US) will invest $6.3 billion in a joint-venture image sensor fab in Kumamoto, Japan, targeting high-performance sensors for Apple Inc.(AAPL.US) iPhones and physical AI, with Sony holding 60% and production starting around 2029. Read in detail>>

SpaceX Expands AI Compute Amid Starlink Ambitions, Surges Past Lock-Up Fears

• SpaceX(SPCX.US) CEO Elon Musk projects Starlink could ultimately carry over 50% of global internet traffic, generating more than $1 trillion annual revenue, driven by AI and robotics bandwidth demand, potentially disrupting AT&T Inc(T.US), Verizon Communications Inc.(VZ.US), HughesNet and ViaSat, Inc.(VSAT.US). Read in detail>>
• SpaceX(SPCX.US) is boosting AI compute capacity via its Terafab facility targeting 1 terawatt annual AI power, intended to support AI-enabled spacecraft and Tesla’s future vision, while analysts question Starlink’s planned terrestrial mobile network competitiveness against established carriers like T-Mobile US, Inc.(TMUS.US). Read in detail>>
• SpaceX(SPCX.US) stock jumped 16% after lock-up expiry, defying expected sell-off as 911.5 million shares became tradable.

Intel Plans $15B Stock Offering, Share Fall 4% Premarket

Intel Corporation(INTC.US) has announced plans for a $15 billion common stock offering. The company stated that the offering is intended to support its growth and highlighted the unprecedented investment being made in the field of AI computing.

Nvidia Eyes $3B Power Co Stake

NVIDIA Corporation(NVDA.US) plans to invest up to $3B for a stake in Lancium, a power company backing the Stargate project, valuing it near $10B.

Tesla Exhausts California EV Incentive Allocation

Tesla Motors, Inc.(TSLA.US) exhausted its MyFirstEV incentive allocation in four days, signaling strong California demand for Model 3 and Model Y, while rivals Rivian Automotive(RIVN.US) and Lucid(LCID.US) also joined the program. Tesla shares rose 1.05% premarket to $332.02. Read in detail>>

Jefferies Downgrades Apple to Underperform

• Jefferies Financial Group Inc.(JEF.US) cut Apple Inc.(AAPL.US) to “Underperform” from “Hold” and lowered its target to $263.66 from $285.56, citing canceled all-glass iPhone plans, rising memory costs and growing pressure on future iPhone 18 demand.
• Apple Inc.(AAPL.US) is testing ChangXin Memory Technologies’ CXMT DRAM for iPhone and MacBook to secure supply as AI data-center demand tightens global memory, potentially cutting Apple’s LPDDR availability 10–20% through 2027 and prompting price hikes and increased regulatory scrutiny. Read in detail>>

Berkshire Hathaway Shares Slip Despite Profit Surge

Berkshire Hathaway Inc. Class B(BRK.US) fell 0.8% despite Q2 2026 revenue rising 10% to $101.8bn and adjusted net income doubling to $25.7bn, lifting trailing net margin to 22.3%. Investors weigh massive $365.5bn cash, concentrated Apple/Alphabet stakes, and $8.5bn buybacks. Read in detail>>

Faraday Future Regains Nasdaq Compliance, Advances Robotics

FARADAY FUTURE INTELLIGENT ELEC INC(FFIE.US) regained Nasdaq minimum bid-price compliance, launched FF EAI Robotics’ BLOS remote-control platform and multi-robot control upgrades, scheduled two “Made in USA” partner conferences for August and September, and set its Q2 earnings call for August 13. Read in detail>>

Lumentum Surges On Nvidia-Backed Growth Expectations

Lumentum Holdings, Inc.(LITE.US) rebounds from a local bear phase as NVIDIA Corporation(NVDA.US) investment, data-center demand, and key customers Apple Inc.(AAPL.US), Microsoft Corporation(MSFT.US) and Amazon.com, Inc.(AMZN.US) underpin a rich 108x forward P/E, with analysts forecasting 107% quarterly revenue growth and sharply higher EPS. Read in detail>>

CoreWeave Short Interest Climbs Ahead Earnings

CoreWeave(CRWV.US) remains 52% below its peak despite Q1 revenue doubling to $2.07 billion and backlog reaching $99 billion, as investors brace for Q2 revenue expected to surge 110%, heavy $30–35 billion capex, $25 billion debt, 15% short interest, and elevated 118% implied volatility. Read in detail>>