Economic Indicators - Initial jobless claims in the U.S. for the week ending July 26 were 218,000, lower than the expected 224,000 [1] Company News - JD.com (JD.O) announced a cash acquisition of German electronics retailer Ceconomy at €4.60 per share [2] - Meta Platforms (META.O) saw a pre-market increase of over 11%, with Q2 net profit rising 36% year-over-year [3] - Ford Motor Company (F.N) warned of a potential 36% drop in profits this year due to ongoing tariff impacts on the automotive industry [4] - TAL Education Group (TAL.N) reported Q1 revenue growth of nearly 40%, with a net profit of $31.28 million [5] - Western Digital (WDC.O) experienced a pre-market rise of over 6%, exceeding Q2 earnings expectations and announcing a dividend [6] - WeRide (WRD) saw a pre-market increase of nearly 8%, with Q2 revenue of ¥127 million, a year-over-year growth of 60.8% [7] - Nvidia (NVDA.O) was called in for discussions by China's Cyberspace Administration regarding security risks associated with the H20 computing chip sold in China [8] - Arm (ARM.O) reported a 12% increase in Q1 revenue to $1.05 billion, but net profit fell 41.7% year-over-year to $130 million [9] - Microsoft (MSFT.O) saw a pre-market increase of over 9% due to strong growth in Azure cloud business, with market capitalization expected to reach $4 trillion [10] - Qualcomm (QCOM.O) faced a nearly 5% pre-market decline, forecasting a potential loss of Apple as a customer for its modem chip business in the coming years [10] - Robinhood (HOOD.O) reported a 45% year-over-year increase in Q2 revenue to $989 million, with net profit rising 105% to $386 million [10]

北京时间周四20:30，美国公布PCE数据，6月核心PCE物价指数年率录得2.8%，高于预期的2.70%，前值由2.70%修正为2.8%。6月核心PCE物价指数月率录 得0.3%，符合预期，高于前值的0.20%。 包含食品能源的整体PCE指数环比上升0.3%，同比上涨2.6%，分别高于市场预期的0.23%和2.5%。 数据还显示，个人消费支出价格指数环比上涨0.3%，将年率提升至2.6%，为2月份以来的最高水平。支出疲软的背后是劳动力市场降温。实际可支配收入在 5月份下降后持平，而工资和薪金几乎没有上涨。预计将于周五公布的7月就业报告将显示招聘持续放缓，失业率略有回升。储蓄率保持在4.5%。 美国系列数据公布后，现货黄金短线波动暂不大，美元指数短线小幅走高。 "美联储传声筒"Nick Timiraos表示，（6月）核心PCE通胀看起来开始恶化，并不比美联储去年开始降息时更好，从某些指标来看甚至更糟。6月份核心PCE 物价指数3个月年化率为2.6%（去年同期为2.3%）。按6个月年化计算，这一数字为3.2%（去年同期为3.3%）。 美国6月通胀数据略超预期，为美联储降息时间表再添变数。政策制定者此前强调，需要看 ...

Group 1 - The U.S. Treasury Secretary expressed frustration from the entire trade team regarding India's stance and future developments [1] - There is uncertainty about how India will progress in trade negotiations [1] Group 2 - The comments reflect broader concerns within the U.S. government about India's trade policies [1] - The situation indicates potential challenges in U.S.-India trade relations moving forward [1]

Group 1 - The core point of the article highlights that the Challenger Job Cut Report indicates a total of 806,383 layoffs in the U.S. as of 2025, marking the highest number since January to July 2020 [1] Group 2 - The layoffs reported in 2025 represent a significant increase compared to previous years, reflecting ongoing challenges in the labor market [1]

（文章来源：金十数据） 特朗普：鲍威尔又不降息，他行动太迟了，而且实际上，他太愤怒、太愚蠢、太政治化了，不适合担任 美联储主席。 ...

美元正迎来今年的首次月度上涨，这得益于强劲的经济数据、对美国资产前景担忧的消退，以及越来越 多的人相信美联储可能在一段时间内不会再降息。 随着人工智能的热潮推动美国股市连续创下日度新高，以及对美元的无情抛售出现逆转，欧洲股市的优 异表现已陷入停滞，欧元汇率下滑，炙手可热的黄金涨势也陷入停滞。 百达资产管理（Pictet Asset Management）的多元资产联席主管Shaniel Ramjee说，"看空美元和美国，是 人们持有的最大仓位之一。" 美国银行的研究显示，就在7月中旬，看跌美元仍然是全球基金经理中最拥挤的交易。 但是，那些对美元进行短期押注的货币交易员们现在正在退缩。美元在今年上半年遭受了自1973年以来 最糟糕的暴跌。 美元指数目前交投于两个月高点，并有望在7月份上涨3%，这是今年的首次月度增长。 在截至6月份的半年里创下其26年历史上最佳六个月表现的欧元对美元汇率现已跌破1.15，正走向自 2023年5月以来的最大月度跌幅。 埃德蒙·德·罗斯柴尔德资产管理公司的多元资产主管Michael Nizard说，"我们正在看到向美国股市的轮 动，货币市场的轮动，以及（市场）势头的轮动。" 他将华盛 ...

Group 1 - Canada will recognize the state of Palestine in September, joining the UK and France, amid increasing international condemnation of the humanitarian crisis in Gaza [1][2] - Canadian Prime Minister Trudeau emphasized the long-standing commitment to a "two-state solution" for a viable Palestinian state to coexist peacefully with Israel [1] - The decision adds pressure on Israel to end its offensive in Gaza, highlighting the isolation of the Trump administration's support for Israeli Prime Minister Netanyahu [1][2] Group 2 - Other countries, including the UK and France, are taking similar actions, which Trudeau believes increases the chances of success for the two-state solution [2] - Trudeau stated that the worsening humanitarian situation in Gaza necessitates immediate coordinated international action [2] - Discussions have taken place among Canada and its allies regarding the future governance of Gaza, with a clear stance that Hamas cannot play a role in that governance [2]

Group 1 - The core point of the article indicates that copper futures are trading at a premium of $8 per ton compared to COMEX copper [1]

Core Viewpoint - Iran has hardened its stance in nuclear negotiations with the Trump administration, demanding compensation for losses incurred during recent conflicts and assurances against future attacks [1][2]. Group 1: Iran's Position and Demands - Iranian Foreign Minister Abbas Araghchi stated that the U.S. must agree to compensate Iran for damages suffered during the recent conflict with Israel [1]. - Araghchi emphasized the need for a "win-win solution" to resolve the long-standing deadlock surrounding Iran's nuclear program [1][2]. - He indicated that trust-building measures, including economic compensation and guarantees against future attacks, are essential for resuming negotiations [1][4]. Group 2: Recent Conflicts and Their Impact - The recent conflict involved significant military actions, including Israeli airstrikes that reportedly killed over 1,000 people and destroyed much of Iran's air defense systems [2][3]. - Iran retaliated with missile and drone strikes, resulting in 29 fatalities in Israel [3]. - The U.S. also conducted airstrikes on Iranian uranium enrichment facilities, causing severe damage to Tehran's multi-billion dollar investments [3][5]. Group 3: Nuclear Program Status - Despite the damage to its nuclear facilities, Iran retains a stockpile of approximately 408 kilograms of uranium enriched to 60% purity, nearing weapon-grade levels [5]. - Araghchi confirmed that Iran still possesses uranium enrichment capabilities and has a workforce of scientists and technicians available for future operations [6]. - The Iranian leadership remains committed to a peaceful nuclear program, rejecting any notion of weaponization despite internal pressures [4][5]. Group 4: Diplomatic Relations and Future Negotiations - The Iranian government has expressed skepticism towards the U.S. and European nations, particularly regarding their ability to lift sanctions and fulfill commitments made in the 2015 nuclear agreement [7]. - Araghchi warned that if European countries initiate a "snapback" sanctions mechanism, Iran would terminate negotiations with them [7]. - The Trump administration has reiterated its stance of "maximum pressure" on Iran, indicating a willingness to engage in direct talks while maintaining strict sanctions [6][7].

Group 1 - The article discusses President Trump's use of emergency declarations to bypass normal government procedures, allowing for unilateral actions without congressional approval [1][2] - Trump's emergency declarations have led to numerous lawsuits questioning the legitimacy of these claims and the extent of his powers [1][4] - The upcoming court case regarding Trump's tariffs based on emergency powers is expected to be a significant test of his authority [1][3] Group 2 - Trump's legal battles have seen mixed results, with some courts rejecting his claims under the Alien Enemies Act regarding Venezuelan immigrants [2] - In contrast, a federal appeals court allowed Trump to use emergency powers to take control of the California National Guard for immigration raids [2] - The Supreme Court previously allowed Trump to continue construction on the border wall after he declared a national emergency, despite lower court rulings against him [2][3] Group 3 - The legality of Trump's tariffs under the International Emergency Economic Powers Act has been challenged, with courts ruling that he overstepped his authority [3][4] - The debate centers around whether the courts can question the president's declaration of a national emergency and the implications of such powers [4][5] - Historical context shows that presidents have often claimed extraordinary powers in response to unforeseen events, leading to ongoing tensions with Congress [5][6] Group 4 - The National Emergencies Act of 1976 established procedures for declaring emergencies and allows Congress to revoke such declarations [6][7] - Trump has invoked this act at least eight times this year, highlighting his reliance on emergency powers to address various issues [7]