Group 1 - The US July PPI year-on-year rate is 3.3%, significantly exceeding the market expectation of 2.5% and marking the highest level since February [1] - The US July PPI month-on-month rate recorded a 0.9% increase, the largest since June 2022 [1] - The number of initial jobless claims in the US for the week ending August 9 is 224,000, slightly below the expected 228,000 [1] Group 2 - Binance co-founder He Yi has been selected as a global leader by Fortune, co-owning the venture capital arm YZi Labs and holding at least 10% of Binance's parent company [1] - US Treasury Secretary Bessent stated that Bitcoin reserves are valued between $15 billion and $20 billion, and there will be no purchases of cryptocurrency reserves [2] - Bessent indicated a potential for a series of interest rate cuts, starting with a 25 basis point reduction [2] Group 3 - Tron founder Justin Sun has filed a lawsuit against Bloomberg in Delaware, claiming the disclosure of his crypto assets violates previous confidentiality agreements [2] - The Guizhou provincial government has refuted rumors regarding a former official allegedly mining 327 Bitcoins, clarifying that the case is unrelated to Bitcoin [3]

Core Insights - The number of initial jobless claims in the U.S. for the week ending August 9 is reported at 224,000, with the previous value revised from 226,000 to 227,000 [1] Summary by Category - **Employment Data** - Initial jobless claims for the week ending August 9 stand at 224,000 [1] - The prior week's claims were revised from 226,000 to 227,000 [1]

Group 1 - The US stock market opened higher with all three major indices rising, with the Dow Jones up 0.17%, Nasdaq up 1.55%, and S&P 500 up 0.82% [1] - Microsoft shares surged over 10% after earnings, making it the second tech giant globally to surpass a market capitalization of $4 trillion [1] - Meta's stock rose over 6% following earnings, driven by AI boosting core business growth [1] Group 2 - Qualcomm's stock fell over 3% in pre-market trading due to the announcement that it will lose Apple as a customer for its modem business in the coming years [8] - Meta's pre-market stock increased by over 11%, reporting a 22% year-on-year revenue growth and a net profit of $18.3 billion, up 36% [9] - Microsoft's pre-market stock rose nearly 9% after reporting Q4 FY2025 revenue of $76.44 billion, compared to $64.7 billion in the same period last year [10] Group 3 - The US core PCE price index for June increased by 2.8% year-on-year, up from a previous value of 2.7% [11] - The number of initial jobless claims in the week ending July 26 was reported at 218,000, slightly up from the previous week's 217,000 [12][13] - The number of layoffs reported by Challenger companies in July was 62,075, an increase from the previous value of 47,999 [14]

Group 1 - The number of initial jobless claims in the U.S. for the week ending July 26 was 218,000, which is lower than the expected 224,000 and slightly higher than the previous week's figure of 217,000 [1]

Core Viewpoint - The decline in initial jobless claims may mask the true weakness of the labor market, as highlighted by Oliver Allen from Pantheon Macroeconomics [1] Group 1: Labor Market Analysis - Despite the decrease in initial jobless claims, the labor market's weakness may not be accurately reflected due to seasonal adjustments affected by summer maintenance shutdowns in auto factories [1] - The current level of continuing claims for unemployment benefits remains high, indicating a slow but steady deterioration in the labor market [1]

Core Viewpoint - US Treasury yields have slightly increased, while initial jobless claims show a decline [1] Group 1 - The increase in US Treasury yields indicates a potential shift in investor sentiment towards riskier assets [1] - Initial jobless claims have decreased, suggesting a strengthening labor market and potential economic growth [1]

Core Viewpoint - The number of initial jobless claims in the U.S. for the week ending July 19 was reported at 217,000, which is lower than the expected 226,000 and the previous value of 221,000 [1] Summary by Category - **Employment Data** - Initial jobless claims decreased to 217,000, indicating a stronger labor market than anticipated [1] - The figure is a decline from the previous week's claims of 221,000, suggesting a positive trend in employment stability [1] - The expectation for the week was set at 226,000, showing that the actual claims were significantly lower than forecasts [1]

Group 1 - The initial jobless claims in the U.S. for the week ending July 19 are set to be released shortly [1] - Canada's retail sales month-over-month for May will also be announced in ten minutes [1]

Group 1 - Tesla is scheduled to release its earnings report after the US stock market closes on July 24, 2025 [1] - The Reserve Bank of Australia Governor Philip Lowe will deliver a speech at 11:05 AM [1] - The European Central Bank will announce its interest rate decision at 8:15 PM [1] Group 2 - Various PMI data will be released, including Germany's manufacturing PMI at 3:30 PM and the Eurozone's manufacturing PMI at 4:00 PM [1][1] - The UK will also release its manufacturing and services PMI data at 4:30 PM [1] - The US will report initial jobless claims for the week ending July 19 at 8:30 PM [1]

This Week's Key Focus - On July 21 at 09:15, the People's Bank of China is expected to announce that the 1-year LPR remains at 3.00% and the 5-year LPR at 3.50% [2][4] - On July 24 at 20:15, the European Central Bank will announce its interest rate decision, with an expected unchanged benchmark rate [2][15] - On July 25 at 20:30, the US Department of Commerce will release the preliminary value of June's durable goods orders [2] - On July 27 at 09:30, China's National Bureau of Statistics will announce June's industrial enterprise profits, with the previous value showing a 9.1% year-on-year decline and a 1.1% cumulative decline from January to May [2][19] - Other factors such as domestic macro - policy changes, international trade and tariff wars, international geopolitical situations, and speeches by US President Trump and Fed officials may impact the futures market [2] This Week's Hotspot Preview July 21 - At 10:00, the State Council Information Office will hold a press conference on the achievements of building a transportation powerhouse during the '14th Five - Year Plan' [3] July 22 - At 15:00, the State Council Information Office will hold a press conference on the first - half 2025 foreign exchange revenue and expenditure data [5] - At 20:30, Fed Chair Powell will give a welcome speech at a regulatory meeting, a rare 'live speech during the quiet period' [8] July 23 - At 22:00, the EU Statistics Bureau will release the preliminary value of the eurozone's July consumer confidence index, expected to be - 14.5 [9] - At 22:00, the US National Association of Realtors will announce June's existing home sales, with an expected annualized total of 4 million households and an annualized monthly rate of - 0.7%. Lower values may suppress non - ferrous metal futures prices [10] - At 22:30, the EIA will announce the change in US crude oil inventories for the week ending July 18. A continued decline may boost crude oil and related commodity futures [11] July 24 - At 9:30, the National Bureau of Statistics will announce the mid - July market prices of important production materials [12] - At 16:00, S&P Global will release the preliminary value of the eurozone's July SPGI manufacturing PMI, expected to be 49.8. A slight increase may slightly boost non - ferrous metal futures prices [13] - At 20:15, the European Central Bank will announce its interest rate decision, followed by a press conference by President Lagarde at 20:45 [15] - At 20:30, the US Department of Labor will announce the number of initial jobless claims for the week ending July 19, expected to be 215,000. A slight decrease may slightly boost non - gold and non - silver industrial product futures but suppress gold and silver futures [14] - At 21:45, S&P Global will release the preliminary value of the US July SPGI manufacturing PMI, expected to be 53.5. A slight increase may slightly boost non - ferrous metal futures prices [16] - At 22:00, the US Department of Commerce will announce June's new home sales, with an expected seasonally adjusted annualized total of 650,000 households and an annualized monthly rate of 4.3%. Higher values may boost non - ferrous metal futures prices but suppress gold and silver futures prices [17] July 25 - At 20:30, the US Department of Commerce will announce the preliminary monthly rate of June's durable goods orders, expected to be - 11%. A significant decrease may suppress non - ferrous metal futures but boost gold and silver futures [18] July 27 - At 09:30, China's National Bureau of Statistics will announce June's industrial enterprise profits [19]