The Nasdaq just posted its worst July in 22 years
The Nasdaq-100 fell 6.6% in July, while semiconductor stocks led the decline, with SOXX down 22.1%, its worst month since 2002. Unlike previous selloffs driven by a single catalyst, this correction reflects concerns over AI valuations, crowded positioning, and rising Chinese competition. Yet investors continue to buy the theme: Goldman Sachs estimates nearly $13 billion flowed into semiconductor ETFs during the decline. Meanwhile, gains in the equal-weight S&P 500 and software stocks suggest capital is rotating rather than leaving equities. The correction has reduced leverage and valuations, but conviction in the long-term AI story remains intact. Source: Bull Theory
Oil Reserves Are Still Dominated by the Giants
Proved reserves show where long-term oil power still sits Saudi Aramco remains in a league of its own with around 260 billion boe Source: Jack Prandelli on X
Brent Crude Oil crashes 10% as US and Iran halt strikes.
President Trump said the “perimeters of a deal” had been reached with Iran to reopen the Strait of Hormuz after speaking with Saudi Crown Prince Mohammed bin Salman (MbS). According to Saudi Arabia’s state news agency, both leaders emphasized dialogue, de-escalation, and pursuing a truce to prevent a wider regional conflict. Axios reported that MbS urged Trump to avoid large-scale strikes on Iran, warning of possible retaliation against Israeli and Gulf energy infrastructure. Saudi officials also sought clarity on U.S. military plans. As a key U.S. ally, Saudi Arabia has historically shaped Washington’s Iran policy and appears to have influenced efforts to delay or limit further escalation. Source: zerohedge
The Financial Times has called the end of the Magnificent Seven as an investment concept
Source: Mr Family Office
Indian investors holdings in U.S. stocks hit all time high
Holdings are up +1500% since May 2016 Source: FRED
Japan will use the International Repo Facility in the future to boost the Yen and avoid having to sell U.S. Treasuries
Source: Barchart
US produces 13.59 million barrels a day.
That is more than Russia and Saudi Arabia , at 10.16 million and 9.73 million. It is nearly triple Iran's 4.45 million. America is not just the largest oil producer on earth, it is exporting record volumes of that supply overseas. Source: Jack Prandelli on X
SK Hynix last 5 days "price discovery"
8/3: -11.47% 7/31: +26.42% 7/30: -3.62% 7/29: -7.54% 7/28: -16.16% Source: zerohedge
