On August 10, Monday, JPMorgan raised its year-end target for the S&P 500 to 8,000 points, citing strong corporate earnings and signs that AI investments by major cloud service providers are about to accelerate revenue growth. The new target implies approximately 3.12% upside from last Friday's closing level of 7,757.64 points. (Jin10)
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JPMorgan Raises S&P 500 Year-End Target to 8,000
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Unitree Technology: Final Online Issuance Winning Rate 0.0181%
On August 10, Unitree Technology (688836.SH) announced that the company's initial public offering of shares and the online issuance subscription status and winning rate on the Sci-Tech Innovation Board were disclosed. The issuing price was RMB 150.80 per share, with a total of 40,446,434 shares issued. After the activation of the clawback mechanism, the final online issuance was 9,707,000 shares, accounting for approximately 30.00% of the total shares issued after deducting the final strategic placement, and the final online issuance winning rate was 0.01809759%. -
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On August 10, the onshore spot exchange rate of the RMB against the U.S. dollar rose to as high as 6.7439 during trading, marking a new high in more than three years since February 6, 2023. ICBC Asia, in its outlook on the RMB trend for the second half of the year, believes that the RMB exchange rate is likely to continue a gradual upward trend amid volatility. The main influencing factors include: first, exports are expected to maintain resilient growth in the second half of the year, with attention on the impact of geopolitical risks and tariff policies on the differentiation of export products, regional structure, and price-volume relationships; second, international capital is increasing its allocation to RMB assets, with net capital inflows supporting a stronger RMB central tendency; third, the central parity rate of the RMB against the U.S. dollar will be adjusted as circumstances dictate. The chief economist team of China Minsheng Bank pointed out that since the beginning of this year, the main factor supporting the strength of the RMB exchange rate has been the high prosperity of exports. At present, with the continuous optimization of the trade structure, the high growth rate of exports is expected to continue, and the trade surplus is also expected to remain at a high level. Overall, China's economy has demonstrated strong resilience in an environment of complex and volatile external conditions and the transition of domestic growth drivers, while the foreign exchange market operates steadily, laying a solid foundation for the RMB exchange rate to remain basically stable at a reasonable and balanced level. It is expected that in August, the RMB exchange rate will maintain a stable two-way fluctuation pattern around 6.75. (The Paper) -
Robinhood Launches Crypto Trading in UK Main App via Bitstamp
On August 10, Robinhood began rolling out cryptocurrency trading services to eligible UK customers via Bitstamp, increasing the number of digital assets in its main investment app to more than 50. The launch places crypto alongside stocks, ISAs, options, and futures as services Robinhood offers in the UK, as the company continues to expand its broader crypto ecosystem. -
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xStocks Tokenized US Stocks May Soon Launch on Hyperliquid
Recently, xStocks, the tokenized stock platform under Kraken's parent company, interacted with Hyperliquid on X, and xStocks' tokenized US stock products may soon launch on Hyperliquid. Starting from July 15, addresses related to xStocks (0xe2810af447c12c787ce02e60587c248529344b8a#txs) have gradually spent approximately 5,000 HYPE tokens to bid on 10 tokenized stock codes for xStocks in the HIP-1 market: NVDAX, SPYX, QQQX, SKHYX, MUX, SNDKX, SPCXX, TSLAX, AAPLX, and CRCLX. As of now, the trading pairs for these ten tokenized US stock products/USDC have all been registered, but trading has not yet begun. If xStocks tokenized US stock products open for trading on Hyperliquid, Hyperliquid will be able to simultaneously trade four major product categories: crypto spot, HIP-3 perpetual contracts, HIP-4 prediction markets, and US stock spot. -
Weekly Key Events and Data Preview: US CPI; Fuel Price Adjustment, Tencent Earnings
August 10 — Here is the weekly preview of key events and data: 1. Monday: ① Data: Japan June trade balance; Eurozone August Sentix investor confidence index; (pending) China July M2 money supply YoY. ② Events: Bank of Japan releases summary of opinions from board members at the July monetary policy meeting. 2. Tuesday: ① Data: Australia's RBA interest rate decision for August 11. ② Events: RBA announces interest rate decision and monetary policy statement; RBA Governor Bullock holds monetary policy press conference. ③ Holiday: Tokyo Stock Exchange closed all day. 3. Wednesday: ① Data: US API crude oil inventories for week ending August 7; Germany July CPI monthly final; US July unadjusted CPI YoY, US July seasonally adjusted CPI MoM, US July seasonally adjusted core CPI MoM, US July unadjusted core CPI YoY. ② Events: Tencent Q2 earnings call. 4. Thursday: ① Data: US initial jobless claims for week ending August 8, US July PPI YoY, US July PPI MoM, US EIA natural gas inventories for week ending August 7. ② Events: JD.com Q2 earnings call; 2026 FOMC voter, Cleveland Fed President Hammack speaks; 2027 FOMC voter, Richmond Fed President Barkin speaks on economic outlook. ③ Earnings: SMIC, China Mobile, etc. 5. Friday: ① Data: France July CPI monthly final; Eurozone Q2 GDP YoY revised, Eurozone Q2 seasonally adjusted employment change quarterly final, Eurozone June seasonally adjusted trade balance; Canada June wholesale sales MoM; US July retail sales MoM, US August one-year inflation expectations preliminary, US June business inventories MoM, US August University of Michigan consumer sentiment preliminary. ② Events: Domestic refined oil products will open a new adjustment window; National Energy Administration publishes social electricity consumption data around the 15th of each month; RBA Governor Bullock attends hearing. 6. Saturday: ① Data: US total oil rig count for week ending August 14. (Jin Shi) -
Netanyahu sees 'no risk' in opposing Trump on Gaza plan
Former Israeli diplomat Alon Pinkas said Netanyahu absolutely needs a permanent war. Israel's rejection of the Gaza plan should be viewed entirely against the backdrop of the October 27 Israeli elections. Pinkas said Netanyahu has made a calculation he sees as risk-free — he believes he can openly defy Trump because Trump doesn't care that much, because of timing, because Hamas has not yet disarmed, and because he can do so with impunity. It's all about permanent war and elections. (Jin Shi)
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