Wall Street Edges Higher on Ceasefire Optimism
U.S. stock markets approached record levels, spurred by a temporary ceasefire in the Middle East, calming global tensions and pushing the Nasdaq to new highs. Oil prices dipped to near $65 per barrel, reflecting improved geopolitical stability. Investors closely monitor Federal Reserve signals, with markets now expecting a potential rate cut in September. Consumer confidence softened, but AI and defense sector gains, alongside company earnings from Micron, FedEx, and BlackBerry, kept momentum strong. UK and EU markets mirrored U.S. optimism, while Eurostar rail disruptions and major global layoffs signaled persistent volatility and transformation across sectors.
- Fed signals rate cut possible as economic data cools.
- Defense stocks rally on increased NATO spending pledges.
- Corporate layoffs continue, with AI reshaping workforces globally.
- Consumer confidence dips; retail mixed, with Lego outperforming.
Stocks Near Highs as Investors Shift Strategy
U.S. indices hovered just below record highs after a recent rally, buoyed by easing oil prices and positive economic sentiment. Pimco co-founder Bill Gross recommended favoring equities over bonds amid persistent inflation and a weak dollar. AI, EV, and crypto-related stocks drew strong interest, with institutional demand for spot Bitcoin and Ethereum ETFs surging. FedEx and General Mills earnings influenced bond market sentiment. With 68% of investors planning to adjust their allocations—many tilting toward tech and digital assets—experts forecast a continued global rebalancing as foreign investment in U.S. securities softens.
- Bill Gross: Stocks “little bull market”, bonds “little bear market”.
- Crypto ETFs drive new institutional inflows.
- Solid-state battery breakthrough lifts EV sector stocks.
- Investors eye global capital flows amid “de-dollarization”.
Institutional Inflows Drive Market Despite Volatility
After a strong rally, the crypto market saw a slight retreat, with total capitalization near $3.4 trillion. U.S. Bitcoin ETFs reported $588 million in inflows yesterday, the highest in June, extending an 11-day streak. Bitcoin held steady above $106K, supported by macro calm and a weaker dollar. Ethereum spot ETFs surpassed $4 billion in cumulative assets, while Solana and XRP posted technical breakouts amid rising institutional demand. Meanwhile, Coinbase stock gained on its dominant market position, and presale activity remained red hot with interest from major investors like JPMorgan.
- BlackRock and Fidelity lead Bitcoin ETF inflows.
- Ethereum ETFs accelerate, crossing $4B assets.
- Solana and XRP draw attention with technical strength.
- Crypto stocks (COIN, HOOD) outperformed broader tech sector.
IP Law, Mint Drops, and Cross-Chain Upgrades Lead Headlines
Spanish courts ruled Mango must destroy infringing NFTs on OpenSea and pay €750,000 in damages for unauthorized use of artworks. The Pixcape Genesis Pass limited mint launches today, promising exclusive benefits for holders. OpenSea continues to enhance its OS2 protocol, supporting seamless cross-chain NFT trading across 19 blockchains. The Meebits × mmERCH NYC event highlights the fusion of NFT culture and physical fashion, while platform metrics show monthly transactions near two million as low-cost, community-driven collectibles rebound.
- Mango ordered to destroy infringing NFTs and pay damages.
- Pixcape Genesis Pass mint drops at 19:00 UTC—limited, utility-driven supply.
- OpenSea OS2 supports 19 blockchains, boosting user engagement.
- Meebits hoodie drop in NYC bridges digital and real-world culture.
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