Bitcoin reaches new August highs as US-Iran tensions ease, potentially reopening the Strait of Hormuz, causing oil prices to drop and the S&P 500 to hit a new record high of $70 trillion market cap.
McDonald's Q2 results were mixed, with US same-store sales rising 0.8% (below expectations) despite global sales growth of 1.3%. CEO Chris Kempczinski cited poor execution of value strategy and franchisee pricing issues. Skye Anderson takes over as US president to boost performance.
McDonald's reported mixed second-quarter results as U.S. same-store sales growth slowed. The company also announced Skye Anderson as the new president of its U.S. business, succeeding Joe Erlinger.
Amazon's market cap exceeded $3 trillion for the first time as shares hit a new all-time high Monday, up 4% after strong Q2 earnings. The surge was driven by robust cloud growth and AI demand, leading CEO Andy Jassy to hike capex estimates for 2024.
Amazon's market capitalization exceeded $3 trillion for the first time, fueled by strong quarterly results and investor confidence in its AI-driven cloud business. This makes it the fifth company to reach this milestone, with its AI investments being rewarded by investors unlike some other tech giants.
SpaceX has lost over $500 billion in market cap since its June 12 trade, with its stock down over 50% from its high, ahead of its first public earnings report. Investors are focused on Starship development, AI strategy, and potential share dilution from expiring lock-up restrictions.
Wall Street is split on AI's impact after major tech companies reported earnings, with Amazon, Microsoft, and Alphabet surging on strong cloud growth and AI investment, while Meta, Apple, and Tesla saw market value drops due to investor skepticism or supply issues.
Hyperscale Data's market cap ($56.4M) is below its disclosed Bitcoin holdings value ($71.7M), leaving uncertainty over the gap's allocation to common shareholders amidst liabilities, potential ATM stock issuance, and unresolved subsidiary asset treatment.
Ionic Digital, a Bitcoin miner and AI infrastructure company formed from Celsius Mining's assets, saw its shares rise 26% to $62.90 in its Nasdaq debut, valuing the company at $2.8 billion.
Novo Nordisk faces a lawsuit from shareholders alleging misleading statements about its obesity drug CagriSema's clinical trial, leading to a significant market value drop. A federal judge has allowed parts of the lawsuit to proceed.
ChangXin Memory Technologies (CXMT) debuts on Shanghai exchange with a 466% share price surge, achieving a market capitalisation of 3.28 trillion yuan, surpassing all mainland China onshore listings. The semiconductor firm's unprecedented trading volume exceeded 140 billion yuan, prompting regulatory meetings to address market stability concerns.
Ripple launched Ripple Mint, a platform for institutions to access, mint, redeem, and manage its US dollar-pegged stablecoin, Ripple USD (RLUSD). RLUSD, launched in December 2024, has become a top 10 USD stablecoin by market capitalization, briefly rising to $1.64 billion around the Mint launch.
S&P Dow Jones Indices and Pantera Capital have launched a new digital asset index that tracks blockchain networks based on protocol revenue, rather than market capitalization. This index, designed for institutional allocation, includes 18 constituents like Ether, BNB, and Solana, and aims to distinguish established blockchain activity from speculative exposure.
The Hong Kong Stock Exchange (HKEX) is expected to announce confidential filing and lower market capitalization requirements for listings by the end of this month, following months of consultations with market participants.
Dutch semiconductor equipment maker ASML reported better-than-expected quarterly results, driven by strong AI-related investments, leading the company to raise its full-year 2026 net sales and gross margin outlook. The firm also plans significant production capacity increases despite ongoing US-China tech tensions.
Taiwan Semiconductor Manufacturing Company (TSMC) has re-entered the top 10 most valuable companies globally, driven by the artificial intelligence (AI) boom. Its stock rallied, pushing market capitalization to a record high, surpassing Broadcom, with analysts expecting further growth.
Major Hong Kong developers like Sun Hung Kai Properties and Wheelock Properties are releasing new residential units this month. SHKP launched 120 units at its Garden Regency project, priced from HK$3.93 million. Wheelock Properties is set to launch its Park Silicon project.
SK Hynix debuted on the Nasdaq at $170 per share, a 14% increase, as investors sought a stake in the South Korean tech giant. The company raised $26.5 billion for expansion, driven by soaring demand for AI memory chips.
SK Hynix debuted on the Nasdaq at $170, with its ADRs priced at $149, raising $26.5 billion for expansion. The South Korean company, a key supplier of AI memory chips, plans to invest in new factories, including a $4 billion plant in Indiana and a $390 billion chip cluster in Yongin, South Korea.
The ANSEM meme coin's 299% surge has reignited interest in Solana's "trenches," a term for its meme coin ecosystem. This rally signals a potential return of high-risk appetite, with Pump.fun seeing significant volume increases. However, concerns about bot manipulation and artificial growth persist, mirroring past cycles.
Compliant euro stablecoins saw market cap surge 128% to $673.9M in the year before the MiCA transition period's end. Despite growth, they remain a small fraction of the dollar-dominated stablecoin market, sparking debate on MiCA's impact on competitiveness.
Bitcoin's market dominance has fallen to a one-month low of 54%, while "Others" (excluding BTC, ETH, stablecoins) climbed to 24.68%. This shift is driven by altcoins with real protocol fees, buyback programs, or institutional integration, signaling a move away from broad "everything pumps" alt seasons.
Compliant euro stablecoins saw a 128% market cap increase to $673.9M in the year before the MiCA transition period's end. Despite growth, they remain a small fraction of the dollar-backed stablecoin market, sparking debate on MiCA's impact on competitiveness.
Milan-based Bending Spoons, known for acquiring digital brands like Meetup and Vimeo, debuted on Nasdaq with a market cap briefly exceeding $25 billion. The company's strategy involves acquiring and holding brands, improving them with tech and AI, sometimes through price hikes and layoffs, while maintaining stable customer retention.
