Trump accord calls for tech firms to ‘self police’ their own frontier AI
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Analysis: South Korean stocks have plummeted more than 20% from their peak and are poised to enter a technical bear market.
PANews reported on July 8th that, according to Jinshi, the South Korean stock market continued its decline, with the KOSPI index falling by more than 6% intraday, accumulating a drop of over 20% since its June peak, poised to enter a technical bear market. Samsung Electronics and SK Hynix fell by approximately 7% and 5% respectively, as investors reassess the prospects for AI demand. South Korea has been the world's best-performing stock market this year, but its over-reliance on two chipmakers makes it particularly vulnerable to shifts in industry sentiment. Leveraged ETFs amplified two-way volatility, further exacerbating market fluctuations. Despite Samsung Electronics' quarterly profit surging 19-fold this week, chip stocks continued their decline, highlighting that traders are demanding more evidence to justify the exorbitant investments across the entire supply chain. Fidelity International portfolio manager Ian Samson stated, "The current increased volatility stems largely from fundamental uncertainty."
Since October of last year, hedge funds have once again concentrated their buying on technology stocks.
According to a chart posted on X by financial analysis website Barchart, based on Odaily of America data, hedge funds' purchases of technology stocks last week reached their highest level since October of last year.
One hour before Trump's statement, a short position of 21 million (long oil, short Nasdaq) saw significant profits after investors added to their short positions.
According to BlockBeats, on July 8th, Hyperinsight monitoring showed that an address starting with 0xec4 had already established a long position in Brent crude oil with 20x leverage two days prior. Then, approximately one hour before Trump's Middle East statements triggered a market surge, a short position in the Nasdaq 100 was significantly increased with 30x leverage. Subsequently, oil prices jumped, and risk assets came under pressure, leading to profit-taking on both sides. As of press time, the two highly leveraged positions at this address had a combined unrealized profit of approximately $510,000. The return on the Brent crude oil long position reached 189%, and the return on the Nasdaq 100 short position reached 37%. The entry times were as follows: July 6th afternoon: Brent crude oil long position established with 20x leverage; July 7th evening: Nasdaq 100 mapped contract (XYZ100) opened with a base position of approximately 200 contracts with 30x leverage; This afternoon (approximately 1 hour before the statement): Significantly increased short positions, pushing the XYZ100 short position to 600 contracts, valued at approximately $17.304 million, completing the setup just before the news was released. On the news front, Trump's latest statement indicated that the temporary ceasefire arrangements between the US and Iran may have ended, and the market re-priced in Middle East geopolitical risk premiums. Reports indicate that crude oil futures jumped approximately 5% after the statement. Current core positions: Brent crude oil (BRENTOIL) long positions: 50,000 contracts, approximately $3.915 million, average price $71.8645, liquidation price $37.26, unrealized profit approximately $322,000; Nasdaq 100 mapped contract (XYZ100) short positions: 600 contracts, approximately $17.304 million, average price $29,108.44, liquidation price $32,119.96, unrealized profit approximately $161,000.
Before Musk could comment, SpaceX president donated 2 million shares, marking the largest corporate donation to the "Trump account."
According to Mars Finance, on July 6th, SpaceX President Gwyneth Shotwell announced on Monday that she and her husband will donate 2 million shares of SpaceX stock to the "Trump Account" program, one share each to over 2 million American children. Based on the current share price of approximately $160, this is worth about $320 million. This move comes just days after Trump publicly predicted that SpaceX would participate in the program. She stated that the donation will target children aged 11 to 17 from lower-income families, with a focus on recipients near her home in central Texas. Previously, Michael Dell and his wife pledged $6.25 billion, Micron Technology pledged $250 million, and BlackRock, Intel, JPMorgan Chase, and others pledged to match their donations at a rate of $1,000 each. Trump previously told CNBC that he expected Musk to also donate SpaceX stock, saying, "I think he will," but Musk has not yet publicly responded. Trump also said his relationship with Musk remained strong, describing the previous disagreements as "a minor friction."
A summary of key pre-market news for US stocks: SpaceX donates shares to the "Trump account," and SK Hynix initiates its roadshow for a US IPO.
According to Odaily Odaily, the following are key financial news items in the US stock market that investors should pay attention to: 1. US stock index futures are mixed. Dow Jones futures are down 0.13%, S&P 500 futures are up 0.41%, and Nasdaq 100 futures are up 1.17%. 2. International oil prices fluctuated narrowly. WTI crude oil futures fell 0.76% to $68.167 per barrel; Brent crude oil futures fell 0.71% to $71.605 per barrel. 3. International spot gold and silver prices both declined. Spot gold fell 0.69% to $4,145.79 per ounce; spot silver fell 0.66% to $61.95 per ounce. 4. Semi-analytical research firm SemiAnalysis has published a report indicating that NVIDIA's Kyber NVL144 rack architecture may face delays. The firm attributes this to "significant challenges remaining in the manufacturing process of the PCB midplane" and predicts that delivery will be postponed until 2028. 5. Broadcom will develop custom (ASIC) chips for Apple, and the two companies have agreed to expand their technological collaboration until 2031. Broadcom shares rose more than 4% in pre-market trading. 6. SpaceX President and Chief Operating Officer will donate a portion of SpaceX shares to the "Trump Account" as part of the "Invest in America" program. 7. SK Hynix has officially launched its roadshow for a US IPO. The offering size is approximately $28 billion, potentially making it one of the top three largest IPOs in global history.
Trump Calls on Congress to Pass 'Fair Version' of Clarity Act at White House Crypto Meeting
Trump touted his administration’s crypto policies and said regulators are working to bring Hyperliquid into the U.S. under a compliant framework.