Today's important financial events include: China's Embodied Intelligent Robot Industry Conference, Germany's July CPI final value, the International Energy Agency's monthly crude oil market report, Tencent's earnings report, speech by Richmond Fed President Barkin, EIA crude oil inventory weekly report, speech on monetary policy by Chicago Fed President Goolsbee, economic outlook speech by Atlanta Fed President Bostic, and the Bank of Canada's monetary policy meeting minutes. In addition, after-hours trading in the U.S. stock market will see companies like Cisco Systems release their earnings reports

Reminder: Please pay close attention to the following (all times are in Beijing time)

Cryptocurrency exchange Bullish will go public on Wednesday in the U.S. stock market, with a target market capitalization of $5 billion. The company plans to issue 30 million shares, with an offering price range of $32 to $33. Bullish is led by former Intercontinental Exchange president Tom Farley, with investors including Peter Thiel's Founders Fund and ARK Investment Management. Although Bullish recorded a loss in the first quarter of 2025, it is expected to achieve a net profit of $106.1 million to $109.1 million in the second quarter

Institutional experts lend support! Cryptocurrency exchange Bullish is about to land on the US stock market, targeting a market value of $5 billion

Intel's stock rose 5.5% to $21.81 following a meeting between CEO Lip-Bu Tan and President Trump, signaling renewed political support amid U.S. chip strategy discussions. Trading volume surged, reflecting heightened investor interest. The Nasdaq Composite and S&P 500 also saw gains. Despite competition from TSMC and Nvidia, Intel's political backing may enhance its role in U.S. chip manufacturing. This meeting marks a shift from Trump's earlier criticism of Tan, with further discussions planned for next week.

Stock Market Today: Intel Rallies After Trump Signals Support for CEO Amid U.S. Chip Strategy Talks

U.S. President Donald Trump's nominee for Federal Reserve Governor, Chairman of the White House Council of Economic Advisers, Kevin Hassett, and former St. Louis Fed President James Bullard, who is considered one of the leading candidates for the next Federal Reserve Chair, both stated in separate media interviews on Tuesday that tariffs will not drive up inflation and expressed support for Trump's stance on interest rate cuts. They also emphasized the importance of maintaining the independence of the Federal Reserve

The Federal Reserve governor and chairman candidate nominated by Trump, James Bullard, supports interest rate cuts, stating that tariffs do not lead to inflation

On Tuesday (August 12), at the New York close, the US dollar fell 0.20% against the Japanese yen, reporting at 147.86 yen. After rising to 148.52 yen at 20:27 Beijing time, it plummeted when the US CPI data was released at 20:30, followed by two waves of rapid declines before 00:00, dropping to 147.58 yen at 23:44. The euro rose 0.30% against the yen, and the pound rose 0.30% against the yen as well

CoreWeave's revenue in the second quarter was $1.21 billion, exceeding analysts' expectations of $1.08 billion; however, the net loss was $267 million, surpassing analysts' expectations of $241.3 million. The stock price fell nearly 6% in after-hours trading

CoreWeave's Q2 revenue was $1.21 billion, while analysts expected $1.08 billion; the net loss was $267 million, with analysts anticipating a loss of $241.3 million. The stock price fell nearly 6% in after-hours trading

U.S. Treasury Secretary Becerra: President Trump even considered nominating former Federal Reserve Chair Yellen to serve as Federal Reserve Chair (again). (Fox Business News)

In the second quarter, CoreWeave's revenue exceeded expectations, setting a new quarterly record, but the year-on-year growth rate slowed compared to the 420% in the first quarter, with the extent of the exceedance below analysts' expectations compared to the first quarter; the EPS loss in the second quarter was also worse than expected. Revenue in the third quarter is expected to continue to reach new highs, and the full-year revenue guidance range has been raised by at least nearly 5%. The lower end of the third-quarter operating profit guidance is nearly 17% lower than analysts' expectations. The CEO stated that CoreWeave is the first company to provide a complete Blackwell GPU product portfolio at scale, with AI demand being "unprecedented." After-hours stock price fell over 10%

AI demand supports CoreWeave's Q2 revenue doubling, raises full-year guidance, but profit performance is disappointing, plunging after hours | Earnings report insights

Tesla CEO Elon Musk threatened to take legal action against Apple, accusing it of violating antitrust laws in its App Store management. Tesla's stock price rose by 0.52%, with a trading volume of $27.042 billion. Meanwhile, electric vehicle sales surged in July, with Tesla's price cuts boosting sales growth. NVIDIA and Apple's stock prices also increased, with NVIDIA's trading volume at $26.394 billion and Apple's at $12.607 billion

Top 20 trading volumes in US stocks on August 12: Musk threatens legal action against Apple

Federal Reserve's Barkin: U.S. inflation will be more moderate than people think. (The Wall Street Journal)

Shares of Bank of America and Wells Fargo rose on Tuesday, driven by a market rally and positive investor sentiment following a mixed July inflation report. The report indicated a stable headline CPI at 2.7% year-over-year, but a higher core CPI at 3.1%, suggesting economic resilience. This has increased expectations for a Federal Reserve rate cut in September, seen as a proactive measure to support economic growth. Consequently, Bank of America shares closed up 2.86% at $47.50, while Wells Fargo shares rose 2.42% to $79.48.

As Fed Rate Cut Bets Rise, Tuesday's Bank Of America, Wells Fargo Rallies Signal Renewed Economic Confidence

U.S. Treasury Secretary Janet Yellen discussed the candidates for the Federal Reserve Board, stating: Miran's nomination is expected to receive confirmation from Capitol Hill. (Fox Business News)

The Nasdaq Golden Dragon China Index preliminarily rose by 1.5%. Among popular Chinese concept stocks, Tencent Music rose by about 12%, Xiaomi rose by 4%, Boss Zhipin and Alibaba rose by more than 3.2%, Pinduoduo rose by 3.1%, NetEase rose by 1.5%, YUM China rose by 0.8%, and TSMC rose by 0.6%. Li Auto fell by 0.3%, Pony.ai fell by 4%, XPeng fell by 6%, and Nio fell by 8.3%

The US dollar index fell 0.4% on the day the US CPI inflation data was released. On Tuesday (August 12), at the New York close, the ICE dollar index dropped 0.41% to 98.114 points, with an intraday trading range of 98.622-97.897 points. Before the data release, the dollar index remained in a narrow range at a high level, and after the data was released, it continued to decline. The Bloomberg dollar index also fell 0.40% to 1203.38 points, with an intraday trading range of 1208.65-1201.35 points

The US dollar index fell 0.4% on the day the US CPI inflation data was released

Goldman Sachs economists released a report last Sunday predicting that by October, the proportion of tariff costs borne by American consumers will rise from 22% in June to 67%. Trump posted on Tuesday that tariffs have not caused inflation issues for consumers, and in most cases, they haven't even paid these tariffs; however, the Goldman Sachs CEO refused to acknowledge this, suggesting he should find a new economist, as Goldman Sachs has long mispredicted market reactions and tariffs

Trump criticizes Goldman Sachs' tariff forecast as incorrect, mocking the CEO: Just focus on being a DJ

TME (Minutes): Strong Growth Momentum to Continue into Q3

CIRCLE (Minutes): Continue to expand usage scenarios and distribution channels

Meta Platforms Inc.'s Threads has surpassed 400 million monthly active users, leading to a surge in its stock price, which hit a 52-week high of $784.75. The platform added 50 million users in the last quarter, closing in on X's daily mobile app usage. Analysts are optimistic about Meta's growth, citing strong ad revenue and AI investments, with the stock trading up 3.02% to $789.03.

Meta Stock Hits New High As Threads Rockets Past 400 Million Users

Ford Motor Company has introduced a Universal EV Platform for a midsize electric truck, emphasizing simpler construction and efficiency. Analyst Mark Delaney from Goldman Sachs maintains a Neutral rating on Ford with a price target of $11. The platform reduces parts by 20% and assembly time by 15%, aiming for a starting price of around $30,000 with deliveries expected in 2027. The design includes a structural battery and is inspired by Tesla's modular approach, enhancing manufacturing efficiency. Ford shares rose 1.12% to $11.27 following the announcement.

Ford Unveils Universal EV Platform: 'Assembly Tree' Mirrors Tesla's 'Unboxed' Approach

Tesla CEO Elon Musk has dissolved the Dojo AI project and reallocated engineers, affecting multiple teams. The terminated Dojo business has been split, and relevant personnel have been assigned to different groups. Some software employees report to Ashok Elluswamy, silicon or semiconductor engineers report to Aaron Rodgers, and firmware employees are led by Silvio Brugada. This reorganization indicates an elevation in Elluswamy's status, as Tesla's AI projects in the fields of autonomous driving and humanoid robots are ongoing

Tesla suddenly terminated the Dojo AI project and reorganized the engineering team

U.S.-listed ETFs saw nearly $19 billion in inflows for the week ending Aug. 8, with bond ETFs attracting $15.3 billion, significantly outpacing the $2.2 billion in equities. This trend reflects a defensive investment strategy as expectations grow for a Federal Reserve rate cut, with futures indicating over a 94% chance of a quarter-point reduction. Top inflows were seen in short-duration Treasury ETFs, while some equity funds, particularly in the Communication Services sector, also gained attention. Overall, the market shows caution amid geopolitical tensions and economic uncertainties.

Bond ETFs Outshine Equities In Weekly Flows As Rate Cut Bets Build

White House Press Secretary Leavitt: President Trump plans to sue Federal Reserve Chairman Powell

Intel Corporation's shares rose 2.28% to $21.11 after CEO Lip-Bu Tan met with President Trump at the White House. This meeting followed Trump's accusations of Tan being "highly conflicted" due to his investments linked to China's military. Tan denied these claims, asserting he operates within legal and ethical standards. Intel emphasized its commitment to U.S. national security and described the meeting as "candid and constructive."

Intel Stock Is Trading Higher Tuesday: What's Going On?

Nvidia and AMD will pay a 15% tax on AI chip revenue from China, with AMD facing greater exposure (24% of revenue) compared to Nvidia (13%). This tax not only impacts profits but also introduces uncertainty in global tech sales regulations. Nvidia may have a slight advantage due to lower dependence on China, while AMD may need to adjust pricing strategies or diversify. Investors should consider these factors when evaluating the companies' ability to manage geopolitical and regulatory risks.

Nvidia Vs. AMD: Who Gets Hit Harder By The 15% China Revenue Tax?

On Tuesday (August 12), UK government bond yields generally rose, with the 50-year gilt yield increasing by 6.5 basis points to a historic high of 4.908%, closing at 4.886%. The 10-year government bond yield rose by 6.1 basis points to 4.626%, while the 30-year yield increased by 7.6 basis points to 5.467%. Following the release of the US CPI inflation data, yields briefly retreated before resuming their upward trend. The 2/10 year gilt yield spread increased by 3.899 basis points, reported at +73.883 basis points

The 50-year UK bond yield rose by more than 6 basis points, reaching a historic high of above 4.9% after the release of the US CPI inflation data

Nvidia's stock surged as Metis Global Partners sold $19.7 million worth of shares, reducing its stake to 6% of its assets under management. As of August 5, 2025, Nvidia shares were priced at $178.26, up 66.2% over the past year, significantly outperforming the S&P 500. Nvidia's revenue has quadrupled to $130.5 billion between fiscal years 2023 and 2025, with data centers contributing 88% of revenue. The company continues to lead in AI and gaming markets, with a market cap exceeding $4 trillion, marking a historic milestone.

Nvidia (NVDA) Stock Zooms, Metis Global Dumps $19.7 Million Worth Shares

Sea (Minutes): Expected GMV growth in the second half of the year similar to the first half

Circle: Making or losing a little money is trivial; the ecosystem is the main artery!

Kweichow Moutai: After enduring the 'pain period,' the stock king remains a hero!

SEA: Southeast Asia's Little Tencent Completely 'Takes Off'?

SEA: The Southeast Asian Little Tencent Completely 'Takes Off'?

Artificial intelligence startup Perplexity proposed to acquire Google's Chrome browser for $34.5 billion, challenging Google's dominance in web search. The offer exceeds Perplexity's own valuation of approximately $18 billion, and several investors have agreed to fully support the deal. The market estimates Chrome's enterprise value to be between $20 billion and $50 billion. A U.S. district judge is considering whether to force Google to sell Chrome to combat its monopoly in the search market. Perplexity stated that the acquisition aims to serve the public interest of antitrust measures. Google has not yet indicated a willingness to sell

AI star company Perplexity proposed to acquire Google's Chrome for $34.5 billion

The State Council's executive meeting decided to implement a personal consumption loan interest subsidy policy aimed at boosting consumption and expanding domestic demand. The Ministry of Finance and nine other departments released relevant implementation plans, involving several state-owned banks and consumer finance companies. The policy directly benefits consumers by reducing the cost of personal consumption loans and supporting residents' daily consumption needs, covering a wide range of consumption areas. Agricultural Bank of China, PSBC, and others are actively promoting this policy

The "national subsidy" for consumer loans has arrived, with ABC, PSBC, Guangfa, Pudong Development Bank, and Zheshang actively promoting it

In July, electric vehicle sales in the United States saw a significant increase, with Tesla boosting sales through price cuts, exceeding 130,000 units, a year-on-year increase of 20%. The electric vehicle tax credit is set to expire soon, and demand is expected to remain strong in the third quarter. Tesla's average transaction price in July was $52,949, down 2.4% from June. The average incentive package in the electric vehicle industry accounted for 17.5% of the transaction price, reaching a record high. Analysts expect that the end of government incentives will stimulate electric vehicle demand in the short term

Tesla and industry price cuts drive growth in electric vehicle sales in the U.S. in July, federal tax credits set to expire

U.S. inflation data for July shows mixed signals, with headline inflation steady at 2.7% but core inflation rising to 3.1%. President Trump renewed pressure on Fed Chair Jerome Powell to cut interest rates, criticizing his management and defending tariffs as beneficial. Economists suggest the data supports a potential Fed rate cut in September, with expectations of at least two cuts by year-end. Futures markets indicate a high probability of a rate cut, reflecting concerns over labor market weakness and inflation trends.

Trump Slams Powell, Defends Tariffs As Economists Eye Fed Cuts

Intel is the only major chipmaker not subject to the new 15% revenue cut on AI chip sales to China, unlike Nvidia and AMD. This advantage stems from CEO Lip-Bu Tan's upcoming White House meeting, which could strengthen Intel's ties with the U.S. government and help avoid similar penalties. With less exposure to China, Intel can maintain healthier profit margins, allowing for greater investment in R&D and domestic expansion. The meeting presents an opportunity for Intel to turn political scrutiny into a competitive edge in the semiconductor market.

Intel's White House Advantage: The Only Chip Giant Not Paying The China Tax

U.S. President Trump defended his tariff policy on the day of the CPI release, stating that tariffs on trillions of dollars' worth of goods have had a positive impact on the U.S. economy, stock market, and public wealth. He claimed that tariffs have not led to inflation; instead, they have brought a significant amount of cash to the U.S. Treasury. Furthermore, consumers have not borne most of the tariffs, as they are primarily paid by foreign companies and governments

Trump defended his tariff policy on "U.S. CPI Release Day," stating that tariffs did not cause inflation

Affirm Holdings' stock rose after announcing an expanded partnership with Google Pay, allowing flexible payment options via Chrome autofill. This integration simplifies the checkout process for U.S. shoppers and requires no extra work from merchants. Affirm's stock is up 20% year-to-date, with Jim Cramer recommending it as a buy. However, potential fee increases from JPMorgan Chase for bank data access could pressure Affirm and similar fintech firms. As of Tuesday, AFRM stock was up 5.86% to $77.34, while GOOGL rose 1.07%.

Affirm Rises As Google Pay Partnership Brings Flexible Payments To More Online Checkouts

Federal Reserve Board nominee and Chair of the White House Council of Economic Advisers Stephen Miran: Other countries will endure the tariffs imposed by the United States. (CNBC)

Federal Reserve Board nominee and Chair of the White House Council of Economic Advisers Stephen Miran: It is very encouraging to see U.S. inflation "performing well." There is "no evidence" that (President Trump's) tariffs have caused inflation. There are often "related price fluctuations." There is no evidence that inflation is accelerating. "A tidal wave of tenants" is driving up housing rents. Illegal immigration has led to a surge in tenants. Inflation for new cars has not seen a substantial increase. (CNBC)

Trump's Federal Reserve nominee Miran: Illegal immigration has caused a surge in housing tenants, which has driven up housing rents

The Federal Court of Australia ruled that Apple and Google engaged in anti-competitive behavior in their respective app stores, marking a victory for Epic Games in its battle against the two tech giants. Although the court dismissed Epic's allegations of misconduct, this ruling could make it possible for Epic to return to the app stores in Australia. Google and Apple expressed differing opinions on the court's decision, emphasizing the security and collaborative nature of their app stores

Australian court rules that Apple and Google abused their dominant position in the app store market

Federal Reserve Board nominee Miran: Very pleased to see U.S. inflation "performing excellently."

Taiwan Semiconductor announced that it will gradually phase out 6-inch wafer production over the next two years and integrate 8-inch wafer capacity to improve efficiency. This decision is based on market conditions and the company's long-term strategy, ensuring a smooth transition for customers without affecting its financial goals. Taiwan Semiconductor has only one 6-inch wafer factory in Taiwan, primarily providing advanced process manufacturing for clients such as Apple and NVIDIA

Taiwan Semiconductor will gradually phase out 6-inch wafer production within two years

Trump: Considering allowing a major lawsuit against Federal Reserve Chairman Powell. Risk Warning and Disclaimer: The market has risks, and investment should be cautious. This article does not constitute personal investment advice and does not take into account the specific investment goals, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investment based on this is at one's own risk

Trump: Considering allowing major lawsuits against Federal Reserve Chairman Powell

Aion has been struggling to penetrate the high-end market

Betting on Huawei, GAC Aion aims to compete in the high-end market again

European Central Bank Governing Council member Nagel stated that the current borrowing costs in the Eurozone are sufficient to cope with trade resistance, and the central bank can respond flexibly to economic changes. He pointed out that key interest rates are at an ideal level, and inflation is no longer a significant challenge. The market expects that the European Central Bank may not lower interest rates again in the short term, although some central bank governors are cautious about future interest rate decisions. Nagel also warned that the increase in U.S. tariffs could bring harm

European Central Bank Governing Council member Nagel: Interest rates are at a "very good level," and the central bank can act flexibly

The U.S. July CPI data shows moderate inflation pressure, with the Nasdaq rising 0.58%, the S&P 500 up 0.41%, and the Dow Jones up 0.42%. Circle's stock price rose over 15%, with second-quarter revenue increasing by 53% year-on-year; Intel's stock price rose over 2%, and Trump's attitude towards Intel's CEO has softened