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25. 7. 2026
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Stocks live · indices
S&P 500
7,653
-0.3% 24h
Nasdaq
26,151
+0.7% 24h
Stocks momentumRisk-on
70/100
BearishNeutralBullish
Trend · SPXUptrend
7,412
▲ 5.8% vs 200DMA · above the 200DMA
BreadthMixed
≈ 60%est
est · share of S&P > 200DMA
VIXCalm
18.7
▲ 12.4% · vol contained
HY creditTight
277 bp
▲ 9bp · credit calm
Biggest stocks news
Uncertainty Surrounds July Fed Meeting Amid Dissents and Rate Hike Odds
Why it matters — A highly divided Fed with multiple dissents could signal that the path of monetary policy is far less predictable than the market currently assumes, potentially triggering bond and equity volatility.
𝕏x.comrates
8.5
1Signalsthe 4 that matter
01
Uncertainty Surrounds July Fed Meeting Amid Dissents and Rate Hike Odds
Why — A highly divided Fed with multiple dissents could signal that the path of monetary policy is far less predictable than the market currently assumes, potentially triggering bond and equity volatility.
𝕏x.comRates
8.5
02
AI Capex Trade Under Pressure as GPU Availability Tightens
Why — If hardware supply bottlenecks persist, it could limit the near-term revenue growth of AI infrastructure providers even as capital expenditures continue to spike.
𝕏x.comAi
7.8
03
Tesla Q2 Earnings Show Record Revenue but Negative Free Cash Flow
Why — The results highlight the heavy capital intensity required to compete in the EV and autonomous space, raising questions about near-term profitability and cash generation.
𝕏x.comEarnings
7.5
04
US Manufacturing and Services PMIs Diverge in July
Why — The data shows a resilient services sector keeping the broader economy in expansion, which may give the Fed more leeway to keep interest rates higher for longer.
𝕏x.comMacro
7.0
2Watch3 themes · 6 notes

Rates & the Fed

Nick Timiraos (WSJ) confirmed that Fed Chairman Jerome Powell has scheduled a press conference for next week's FOMC meeting, resolving market doubts.
Cleveland Fed President Beth Hammack stated that inflation remains too high and broad-based, and maximum employment gives the Fed freedom to focus on inflation.

Earnings & Sectors

The Transcript highlighted Alphabet CEO Sundar Pichai's plan to move toward a monthly model-release cadence once Gemini 4 is established as the baseline.
United Airlines CEO Scott Kirby noted that airport fees, labor, and maintenance inflation are forcing airlines to structurally reset uneconomic fare levels.

Positioning & Flows

Warren Pies observed that positioning currently dictates direction in the crude market, while fundamentals and news flow merely dictate the amplitude of the move.
Citrini Research noted that the recent market selloff has been centered on the most obvious beneficiaries of AI capex spending, prompting a search for less consensus trades.
3Actions4 · save now, convert to tasks later

Watchlist

4 items
Track the July FOMC interest rate decision and the distribution of votes among the 12 independent voters.
Monitor the upcoming June core PCE inflation print, which forecasters estimate at +0.18% month-over-month (+3.3% y/y).
Watch the progression of Brent crude prices and Gulf shipping disruptions following the second round of US strikes on Iran.
Observe the Q2 earnings releases of major tech companies including Microsoft, Meta, Apple, and Amazon.
What's expectedstocks, next 1–2 weeks
FOMC July Rate Decision and Press Conferencenext week
Big Tech Q2 Earnings Releases (MSFT, META, AAPL, AMZN)next week
June US PCE Inflation Data Releasethis week
Geopolitical escalation in the Gulf and its impact on Brent crude
LLM read from today's sources qualitative read, no buy/sell calls
Macro backdropat a glance
Fed pathCurve flat (+36 bp)
10Y Treasury4.71% · Tightening
Crude (WTI)$84.4 · Cost push