General Market News

Prime Video announced plans to invest over $2 billion in Latin America between 2027 and 2030, significantly expanding its original content production and sports programming across five key markets: Mexico, Brazil, Argentina, Colombia, and Chile. The investment aims to more than double local original productions and enhance sports offerings including NBA games and Mexico national team matches.

• Prime Video will more than double local originals across the five countries from 2026, with over 25 new titles launching in 2027 including second seasons of 'La Oficina', 'Tremembé', and 'Menem'
• Sports expansion includes over 200 NBA games per season in Brazil and Mexico under an 11-year global deal, with the league coming to Argentina, Colombia, and Chile for the first time
• Prime Video will become the new home for Mexico's national soccer team, carrying 38 home matches over four years starting next month, and will expand service to Costa Rica, Dominican Republic, Guatemala, Paraguay, and Peru later this year

Stock markets fell sharply on Thursday, with the Dow dropping 605 points (1.1%) to 52,857.91, as rising Treasury yields and disappointing earnings from Walmart pressured investor sentiment. The sell-off affected major retailers and consumer-focused sectors, raising concerns about consumer resilience amid elevated gas prices and inflation.

• Walmart's weak earnings dragged down the retail sector, with the S&P 500 consumer staples index falling 1.5% and rivals Albertsons down 1.5% and Costco down 2.3%
• Treasury yields resumed their climb despite the Treasury Department's bond buyback program announced the previous day, with oil prices rising above $87 per barrel adding further pressure
• The market decline reflected concerns about consumer health amid ongoing inflationary pressures, though unemployment claims data suggested the labor market remained stable

Goldman Sachs confirmed that U.S.-listed ETFs are on track to reach $2 trillion in net inflows for 2026, representing a 40% increase over 2025 levels. Already, over $1 trillion has flowed into ETFs during the first half of the year alone, driven by expansion from traditional passive funds into actively managed strategies, thematic investing, and innovative product offerings.

• Actively managed ETFs are capturing over 35% of year-to-date inflows despite representing only 13% of the $16.1 trillion in total U.S. ETF assets under management
• The total number of U.S.-listed ETFs is approaching 6,000 offerings, exceeding the number of domestic single stocks available, while daily trading volume has expanded 50% year-over-year to approximately $320 billion
• AI-related demand is driving significant flows, with semiconductor ETFs recording their largest aggregate monthly inflows of over $19 billion in June, while software ETFs saw outflows of roughly $1.9 billion

Treasury Secretary Scott Bessent stated there's a 'very good chance' the U.S. budget deficit under President Trump has peaked, despite July's monthly deficit reaching $432 billion, the highest in over five years. The administration is pursuing fiscal consolidation measures that Bessent says could save several hundred billion dollars.

• The fiscal year-to-date deficit climbed to almost $1.8 trillion, higher than the same period a year earlier, while total U.S. government debt has more than doubled over the last decade
• Bessent expects 2026 tariff revenue to match 2025 levels despite legal challenges, with revenues not requiring refunds to companies this time
• Administration officials including Bessent, Trump, and OMB Director Russell Vought are working on fiscal consolidation, with Bessent asserting 'there's nothing magic about the 40-trillion number' and the U.S. can 'grow our way out of that'

Mortgage rates declined for the second consecutive week, with the average 30-year fixed-rate mortgage falling to 6.65% from 6.67% the previous week, according to Freddie Mac's Primary Mortgage Market Survey released Thursday. The rates remain elevated compared to historical levels but show a modest downward trend.

• The average 30-year mortgage rate dropped to 6.65%, down from 6.67% the prior week and compared to 6.58% one year ago
• The average 15-year fixed-rate mortgage declined to 5.95% from 5.96% the previous week
• Mortgage rates closely track the 10-year Treasury yield, which hovered around 4.7% as of Thursday, though they are not directly affected by Federal Reserve interest rate decisions

Treasury Secretary Scott Bessent announced that an accelerated government debt buyback program could exceed the previously stated $4 billion amount. The statement was made during a CNBC interview on Thursday, indicating potential expansion of the Treasury's debt management operations.

• The buyback operation may be larger than the initially announced $4 billion target
• This represents an acceleration of Treasury's debt buyback activities as part of debt management strategy
• The announcement is developing news with further details expected

President Trump has threatened unprecedented sanctions and isolation on Iran, warning of economic consequences for countries that trade with it. Iran's main trading partners include China (buying over 80% of Iran's oil exports at 1.38 million barrels per day), UAE, Turkey, Iraq, and several other regional nations. The UAE has already suspended all financial and economic transactions with Iran, while China has rejected sanctions pressure.

• China is Iran's largest trading partner, purchasing an average of 1.38 million barrels per day of Iranian oil in 2025 through a ring-fenced system of refiners with limited U.S. exposure, often disguising Iranian oil as Malaysian or Indonesian
• UAE was among Iran's largest trade partners, providing 30% of its imports worth $21 billion in 2024, but suspended all financial and economic transactions with Iran this week citing military escalation
• Other significant partners include Turkey ($5-6 billion annually), Iraq ($10 billion in 2025, with $4-5 billion for natural gas), and smaller trade relationships with Oman, Pakistan, India, Armenia and Azerbaijan

The Treasury Department announced new rules on Thursday barring ESG (environmental, social and governance) investment funds from Trump Accounts, citing concerns about 'political activism' over financial returns. Treasury Secretary Scott Bessent stated the restriction aims to ensure the children's investment accounts focus on building financial security rather than advancing ideological agendas. The move comes as Trump Accounts has enrolled over 7 million families since its July 4 launch.

• Over 7 million families have enrolled in Trump Accounts in the month and a half since launch, with over 2 million eligible for federal seed money ($250 deposits for children born 2025-2028)
• The new eligibility framework requires index funds to measure performance using objective financial criteria rather than environmental, social, or governance factors
• Investment contributions have exceeded $1.5 billion, not including major philanthropic gifts like the $6.25 billion from Michael and Susan Dell for children under age 10

Chinese AI firms like DeepSeek are threatening the US AI investment boom by offering competitive models at dramatically lower prices, potentially undermining billions in US infrastructure spending. DeepSeek's V4 Flash model performs nearly as well as top US systems but costs $0.28 versus $25 for comparable output from Anthropic's Opus 4.8. This competitive pressure could derail the AI frenzy that currently accounts for roughly one-third of US economic growth.

• Chinese AI models from DeepSeek and Moonshot AI now rival leading US systems from OpenAI and Anthropic in performance, with flexible open-source options potentially offering superior user experience
• DeepSeek's aggressive pricing represents a 99% discount compared to premium US offerings, forcing competitors like OpenAI to slash prices by 80% within weeks of product launches
• AI-related investment has been offsetting declines in traditional office construction and driving demand across sectors from semiconductors to construction materials, but stretched valuations and Chinese competition make the sector increasingly risky

The U.S. Department of Energy is awarding $500 million in grants to seven companies for domestic lithium, cobalt, and battery materials projects. This funding supports President Trump's goal to bolster American mining and processing capabilities while reducing reliance on China. The grants target critical areas of the battery ecosystem including processing, recycling, and manufacturing.

• Lilac Solutions, Jervois Global, and Nth Cycle each receive $100 million for lithium processing, cobalt refining, and battery recycling facilities respectively
• Jervois will build the country's only cobalt refinery in Idaho, processing material for batteries, electronics, and weapons systems
• Four additional companies receive $50 million each for battery component technologies, including cathode reprocessing and silicon anode development

Bitcoin surged more than 11% over two days to nearly $72,000, its highest level since June, driven by falling Treasury yields and renewed White House efforts to pass the Clarity Act. President Trump hosted crypto CEOs and urged Congress to pass a 'fair version' of the market structure bill before year-end, though Democrats and Republicans remain divided over ethics provisions. The rally was amplified by $2.7 billion in short position liquidations.

• Bitcoin rose above $71,900 on Thursday, still 43% below its October 2025 high of $126,000, while crypto stocks like Coinbase and MicroStrategy gained 6-9%
• The Clarity Act faces a critical Senate procedural vote on September 15, with failure likely ending the bill's chances this year as focus shifts to midterm elections
• Disagreement centers on ethics rules preventing public officials from personally profiting from crypto, with Democrats seeking tougher restrictions and Republicans viewing provisions as overly restrictive

The European Commission stated there is no immediate concern about natural gas supply in the EU, despite storage levels at 62% of capacity. This is lower than the 74% storage level recorded at the same time last year, as high gas prices linked to the U.S.-Israeli war with Iran have discouraged companies from purchasing fuel for storage ahead of winter.

• EU gas storage currently stands at 62% of capacity, down from 74% at the same point last year
• High gas prices stemming from the U.S.-Israeli war with Iran have deterred companies from buying fuel to store
• EU countries are struggling to fill gas storage ahead of winter despite the Commission's reassurance about supply security

The Democratic Republic of Congo will receive 70,000 doses of Merck's Ervebo Ebola vaccine from the global stockpile to combat its largest-ever outbreak, which has exceeded 5,000 confirmed cases and caused 2,378 deaths. The outbreak is caused by the Bundibugyo strain of Ebola, for which there are no approved vaccines or treatments, making this an experimental intervention.

• Of the 70,000 allocated doses, 20,000 will be used in a late-stage clinical trial to determine if Ervebo (approved only for the Zaire strain) provides protection against the Bundibugyo virus in humans
• Congo's 17th Ebola epidemic became the country's worst on record in late July, surpassing the 2018-2020 outbreak in case count with over 5,000 confirmed cases and 2,378 deaths
• WHO Director-General Tedros Ghebreyesus declared the outbreak in eastern Congo remains a global emergency, with vaccines being released from the International Coordinating Group stockpile

Fast-fashion retailer Shein has postponed its Hong Kong IPO debut until September, according to the South China Morning Post. The delay follows a setback in taking investor orders at a reduced valuation, with the company now planning to start book-building from August 24 instead of completing the entire IPO process by end of August.

• Shein is targeting a valuation just a quarter of the nearly $100 billion figure seen in a previous funding round
• The company plans to introduce multiple cornerstone investors, with investment banks considering arranging their own funds to serve as cornerstone investors
• Founded in China in 2012, Shein sells budget clothing like $5 dresses and $10 jeans to shoppers in approximately 160 countries

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U.S. stock markets declined on Thursday as rising government bond yields pressured investor sentiment, with the Dow falling 0.60%, S&P 500 down 0.15%, and Nasdaq losing 0.29%. Retail giant Walmart tumbled 8.6% after missing quarterly sales expectations as consumers reduced spending amid rising gas prices. Treasury yields rebounded despite earlier intervention, with the 30-year yield reaching 5.239%.

• Walmart's sales miss dragged the S&P 500 consumer staples index down 1.6%, the biggest sectoral loser, as shoppers pulled back spending due to elevated gas prices
• The 30-year Treasury yield rose to 5.239% after briefly retreating from near-two-decade highs, with market participants viewing Treasury Secretary Bessent's intervention as insufficient to reverse the trend
• Cryptocurrency stocks rallied after President Trump called on Congress to pass related legislation, with Strategy up 6.6% and Coinbase gaining 5.6%, while oil prices extended gains for a fifth consecutive session on stalled U.S.-Iran peace talks

Research by the Anti-Corruption Data Collective identified 152 Polymarket wallets that may have traded on classified U.S. military information, achieving a 97.2% average win rate and collectively earning $8 million. The analysis raises concerns that insider trading on the prediction market could broadcast exploitable signals to foreign adversaries, especially as automated bots and large traders appear to copy these suspicious bets.

• ACDC identified 556 'Orca' wallets that quickly placed successful long-shot bets before disappearing, with 152 specifically targeting military markets
• Copycat trading by bots and 'Whales' amplified potential insider signals, including $300,000 in copycat wagers before U.S. strikes in Iran in June 2025
• The research comes amid increased regulatory scrutiny, including charges against a U.S. soldier accused of using classified information to bet $400,000 on Venezuela's Maduro removal

Ant Group, Alibaba's financial subsidiary, reported quarterly profits of approximately 4.7 billion yuan ($698 million) for the quarter ending June 30, representing a modest 1% year-over-year increase. The fintech giant is strategically pivoting toward AI-driven services including agentic commerce, digital health, and embodied AI, backed by a record $5.17 billion investment in AI R&D in 2025.

• Quarterly profits reached 4.7 billion yuan ($698 million), up just 1% compared to the same period last year
• Ant Group invested a record $5.17 billion in AI research and development during 2025
• The company is shifting focus to AI-powered services, including its popular AQ AI personal health app, as part of its broader transformation strategy

Target's food and beverage sales grew 7% in the quarter ended August 1, the fastest growth in three years, driven by a strategic grocery expansion including 600 new private-label products over two years. However, the retailer's turnaround depends on converting grocery shoppers into buyers of higher-margin merchandise like apparel and home goods, where sales remain largely flat.

• Traffic rose 3.6% in the latest quarter with snack sales jumping 15%, but Target holds only 5% of the U.S. grocery market compared to Walmart's 27%
• Target plans to add 600 private-label food products over two years (including 400 under Good & Gather brand), expecting to drive over $2 billion in growth
• While hardlines grew 10.6% and beauty rose 7%, key categories like home furnishings and apparel remained roughly flat, creating uncertainty about whether grocery traffic will translate to broader store purchases

Ukraine's military struck two Russian energy facilities on Wednesday and overnight: the TANECO oil refinery in Tatarstan and the Tamanneftegaz oil terminal in Krasnodar. The Ukrainian General Staff reported that both strikes caused fires at the targeted sites, continuing Ukraine's campaign against Russian energy infrastructure.

• TANECO oil refinery in Russia's Tatarstan region was hit by Ukrainian forces
• Tamanneftegaz oil terminal in Krasnodar region was also struck in the coordinated attacks
• Both facilities sustained fires as a result of the strikes, according to Ukrainian military reports