Market Overview - The US dollar index experienced fluctuations this week, initially rising before declining due to President Trump's dismissal of Fed Governor Cook, raising concerns about the Fed's independence and interest rate cuts [1] - Spot gold benefited from the uncertainty surrounding the Fed and French politics, returning above the $3400 mark, potentially marking a second consecutive week of gains [1] - International oil prices are expected to rise for the second consecutive week, influenced by ExxonMobil's potential return to Russian projects and the diminishing likelihood of a meeting between Russian and Ukrainian leaders [1] - Bitcoin saw a significant drop below $110,000, likely marking a second consecutive week of losses, while Ethereum outperformed with a 17% increase over the past 30 days [1] Investment Bank Insights - Morgan Stanley predicts the Fed will cut rates by 25 basis points in March, June, September, and December 2026, targeting a final rate range of 2.75%-3.0% [4] - Deutsche Bank highlights risks to the dollar's structure due to rising US debt and concerns over the Fed's independence [4] - UBS warns that the politicization of the Fed could lead to increased economic risks and higher risk premiums on US debt [4] - HSBC raised its year-end target for the Shanghai Composite Index to 4000 points, citing ample liquidity [4] Major Events - Trump's dismissal of Fed Governor Cook marks the first time a sitting president has removed a Fed official, with Cook planning to challenge the legality of her dismissal in court [5][6] - The Fed's upcoming meetings and potential rate cuts are under scrutiny, with officials indicating support for a 25 basis point cut in September [7][8] - The ongoing conflict in Gaza is expected to reach a decisive conclusion within two to three weeks, although the situation remains complex and uncertain [9][10] - The US government has permanently eliminated the tariff exemption for packages valued under $800, expected to generate an additional $10 billion in annual tariff revenue [16] Company-Specific Developments - Cambricon Technologies surpassed Kweichow Moutai in stock price, becoming the "king of A-shares" with a market capitalization exceeding 600 billion yuan, following a significant turnaround in its financial performance [22][23] - Nvidia's second-quarter earnings exceeded expectations, but the lack of sales in the Chinese market was a notable concern, with third-quarter revenue guidance falling short of some analysts' forecasts [24] - Meituan's stock plummeted nearly 13% after reporting an 89% drop in net profit due to intense competition in the food delivery market, leading to downgrades from several banks [25] - Musk's xAI filed a lawsuit against Apple and OpenAI, alleging collusion to monopolize the AI market, while SpaceX successfully completed its tenth test flight of the Starship [26][27]

Core Viewpoint - Elon Musk's xAI has filed an antitrust lawsuit against OpenAI and Apple, accusing them of colluding to monopolize the AI market and manipulate app rankings in the App Store to disadvantage Musk's own AI application, Grok [2][9][10]. Group 1: Lawsuit Details - The lawsuit, consisting of 61 pages, alleges that a partnership agreement between OpenAI and Apple allows ChatGPT to be the sole generative AI chatbot integrated into Apple's operating systems, which harms Grok's market access [9][10]. - Musk seeks billions of dollars in damages and a court ruling declaring the collaboration between OpenAI and Apple illegal [10]. Group 2: Background and Context - Musk has a history of conflict with OpenAI, having previously sued them for abandoning their non-profit mission in favor of profit-making, which he claims has turned OpenAI into a "subsidiary" of Microsoft [10][11]. - The rivalry extends to Apple, with Musk previously criticizing Apple's high App Store fees and expressing disdain for Apple's attempts to enter the automotive market [13][14]. Group 3: Market Dynamics - Observations indicate that the App Store heavily promotes ChatGPT, while other generative AI applications, including Grok, receive minimal visibility [5][14]. - Despite Musk's claims, some users noted that the AI application rankings are not exclusively dominated by ChatGPT, suggesting that competition remains in the market [15].

Core Viewpoint - Elon Musk's xAI has filed an antitrust lawsuit against OpenAI and Apple, accusing them of manipulating app rankings in the App Store to favor ChatGPT over Musk's own AI application, Grok [1][6]. Group 1: Lawsuit Details - The lawsuit claims that a partnership agreement between OpenAI and Apple, signed last year, constitutes an illegal monopoly in the AI market [5][6]. - Musk seeks billions in damages and a court ruling that the collaboration between OpenAI and Apple is unlawful [6]. - The lawsuit includes allegations that Apple has delayed updates for Grok, putting it at a competitive disadvantage [6]. Group 2: Background and Context - Musk has a history of conflict with OpenAI, having previously sued them for abandoning their non-profit mission in favor of profit [8]. - Musk's grievances extend to Apple, with past criticisms regarding their high App Store fees and competition with Tesla [10]. - The ongoing rivalry between Musk and Apple is highlighted by Musk's past comments labeling Apple as a "graveyard" for those who cannot succeed at Tesla [10]. Group 3: Market Dynamics - The App Store currently features a predominance of ChatGPT advertisements, with other generative AI applications appearing less frequently [3][11]. - Despite Musk's claims, some users have noted that the AI application rankings are not exclusively dominated by ChatGPT, indicating a more competitive landscape [14].

Core Viewpoint - Elon Musk's xAI has filed an antitrust lawsuit against OpenAI and Apple, accusing them of manipulating app rankings in the App Store to favor ChatGPT while suppressing Musk's own AI application, Grok [1][9][13]. Group 1: Lawsuit Details - The lawsuit claims that a partnership agreement between Apple and OpenAI constitutes an illegal monopoly in the AI market, leading to unfair competition [9][14]. - Musk alleges that the agreement allows ChatGPT to be the only generative AI chatbot integrated into Apple's iOS, iPadOS, and macOS, which significantly hampers Grok's visibility to billions of potential users [10][12]. - xAI is seeking billions of dollars in damages and a court ruling to declare the collaboration between OpenAI and Apple unlawful [14]. Group 2: Market Manipulation Allegations - Musk accuses Apple of manipulating App Store rankings and delaying updates for Grok, putting it at a disadvantage compared to ChatGPT [13]. - Observations from users indicate that the App Store is heavily promoting ChatGPT, while other generative AI applications, including Grok, are largely overlooked [3][25]. - Despite Musk's claims, some users noted that the AI application rankings are not exclusively dominated by ChatGPT, suggesting that competition still exists [30]. Group 3: Background Context - Musk's ongoing conflict with OpenAI is well-documented, stemming from his belief that the organization has strayed from its original non-profit mission to pursue profit [16][17]. - Previous tensions between Musk and Apple CEO Tim Cook have included Musk's criticism of Apple's App Store fees and a failed attempt to discuss a potential acquisition of Tesla by Apple [22][23]. - The current lawsuit reflects Musk's consistent adversarial stance towards both OpenAI and Apple, indicating a long-standing rivalry in the tech industry [20][24].