Overnight US stocks | Trump says he is ready to take higher-level military action against Iran. The three major indices rose and fell, and the Philadelphia Semiconductor Index fell more than 4%

The Zhitong Finance App learned that on Friday, the three major indices had mixed ups and downs. US President Trump said he is ready to take higher-level military action in Iran and has yet to decide on a major attack on Iran. He said that with the passage of time, Iran has become more serious in negotiations, is not in a hurry to reach an agreement with Iran, and will keep an eye on the progress of the Iranian negotiations.

[US stocks] At the close, the Dow rose 235.37 points, or 0.46%, to 51947.02 points; the NASDAQ fell 161.87 points, or 0.64%, to 24975.82 points; and the S&P 500 rose 3.68 points, or 0.05%, to 7411.98 points. The storage concept weakened, with SanDisk (SNDK.US) falling 10.79%, SK Hynix (SKHY.US) falling 8.81%, and Micron Technology (MU.US) falling 6.99%. The Philadelphia Semiconductor Index fell 4.25%, and Intel (INTC.US) fell 7.89%. IBM (IBM.US) rose 3.64% and Apple (AAPL.US) rose 3.53%. The Nasdaq China Golden Dragon Index fell 0.68%, Alibaba (BABA.US) fell 1.67%, and Baidu (BIDU.US) fell 1.91%.

[European stocks] The German DAX30 index rose 396.05 points, or 1.60%, to 25105.38 points; the British FTSE 100 index rose 100.23 points, or 0.94%, to 10739.40 points; the French CAC40 index rose 73.19 points, or 0.88%, to 8372.28 points; the Eurostock 50 index rose 71.98 points, or 1.16%, to 6282.15 points; Spain's IBEX35 index rose 322.83 points, or 1.68%. The report was 19589.83 points; Italy's FTSE MIB index rose 495.16 points, or 0.96%, to 51811.00 points.

[Asian Stock Market] The Nikkei 225 Index fell 2.73%, and the Korea Composite Stock Price Index fell 5.72%.

[US Dollar Index] The US dollar index, which measures the US dollar against the six major currencies, rose 0.02% on the same day and closed at 101.468 at the end of the foreign exchange market. As of the end of the exchange market in New York, 1 euro was worth 1.1370 US dollars, lower than 1.1377 US dollars on the previous trading day; 1 pound was worth 1.3326 US dollars, up from 1.3318 US dollars on the previous trading day. 1 US dollar was worth 163.84 yen, up from 163.80 yen on the previous trading day; 1 US dollar was worth 0.8182 Swiss franc, higher than 0.8169 Swiss franc on the previous trading day; 1 US dollar was worth 1.4096 Canadian dollars, higher than 1.4076 Canadian dollars on the previous trading day; 1 US dollar was worth 9.7158 SEK, lower than 9.7663 on the previous trading day.

[Cryptocurrency] Bitcoin fell more than 1.5% to $64,180; Ethereum fell more than 1.2% to $1859.64.

[Crude oil] Light crude oil futures for September delivery on the New York Mercantile Exchange fell $2.88, or 3.12%, to close at $89.31 a barrel by the close of the day; London Brent crude oil futures for September delivery fell $3.91, or 3.88%, to close at $96.78 a barrel.

[Precious Metals] Spot gold rose 0.1% to $4053.15; spot silver rose 0.96% to $58.202.

[Macro News]

Total new home sales in the US rebounded for the first time in three months. In June, the total number of new home sales in the US rebounded for the first time in three months. This was due to sharp price cuts by developers, which offset high mortgage interest rates and sluggish consumer confidence. Total sales of new homes in the US increased by 1.6% year-on-year in June, reaching an average of 628,000 units per year, which is expected to be 607,000 units. The median sales price fell 2.7% year on year to 398,300 US dollars, the fifth year-on-year decline in six months this year. The improvement in sales in June is likely to reflect significant discounts, as developers are still rolling out promotional offers and price cuts to customers to stimulate weak demand in the market.

It is reported that Pakistan is exploring ways to restart negotiations between the US and Iran. According to three Pakistani sources, Pakistan is exploring ways to restart negotiations between the US and Iran to end the war that has been going on for nearly five months. Sources said Iranian Interior Minister Eskandar Momeni held exploratory talks during his visit to Islamabad this week — his second visit in the past 10 days. According to a statement from the Pakistani government, Momeni, who is seen as being close to Iran's Revolutionary Guard Corps, met with Pakistan's government leader and military chief Asim Munir this week. All three sources warned that the obstacles to negotiations with the US are still high.

Traffic volume in the Strait of Hormuz declined, and the Strait of Mander rebounded. International market service agency Kepler posted news on social media on the 24th that there was a divergence in the navigation situation of the two key maritime corridors in the Middle East on the 23rd. Traffic volume in the Strait of Hormuz declined markedly, while the traffic volume of the Mander Strait, which connects the Red Sea and the Gulf of Aden, has rebounded. According to Kepler's data, a total of 6 ships completed the passage of the Strait of Hormuz on the 23rd, down 60% from the previous day. With the exception of one ship, all pass through channels designated by Iran. Meanwhile, a total of 49 ships passed through the Mander Strait that day, which is higher than the previous level. This includes 4 ships that have turned off the automatic ship identification system to “dark sail”. Kopler said that some of the ships that had previously turned back due to safety risks in the Gulf of Aden and the Red Sea have resumed sailing and completed traffic, but there are still some ships that continue to stay and watch after making a U-turn. Currently, international shipping companies are still continuously evaluating the regional security situation, and overall navigation activities are characterized by “careful but selective recovery.”

Trump has threatened to impose high tariffs on the European Union and demand that fines against US companies be lifted. US President Trump: The EU is here again, and as always, directly targeting great American companies! After unjustifiably imposing $15 billion in fines on Apple, $3 billion on Meta, $2.5 billion in fines on Amazon, and many other businesses, we've just learned that Google — a truly advanced and amazing company — has been fined another $1 billion without explanation. This has cost Google more than $18 billion in fines! This illegal and highly discriminatory practice reached such a high level during the first year of the “Sleepy Joe” (Biden) administration, but this situation will not continue during the Trump administration. The US is not Europe's “ATM”, and we won't allow it to be that way! It is hereby indicated that we will immediately launch a 301 investigation to investigate such acts of “looting” American companies and thereby harming the interests of American taxpayers. The EU will pay a very high price for this illegal and extremely immoral act, which I have always warned them not to do. These fines will be completely lifted, and we expect high tariffs to be imposed on them in the shortest possible time.

ECB chief economist Lien: September will be the next key point in interest rate policy. ECB chief economist Lien said that the ECB will re-evaluate and possibly adjust its policy position in September, and interest rate decisions will continue to be based on economic data. “Our work is more about reacting; it is neither excessive nor excessive or insufficient.” He said that the current situation was a “moderate shock”. Whether to adjust the policy in September will largely depend on whether oil and gas prices can remain high or whether a lasting solution can be found to reopen the supply in the Strait of Hormuz. The ECB previously kept interest rates unchanged to assess the impact of the Middle East conflict on inflation and economic growth in the Eurozone. Lien also said that the European economy is mainly supported by domestic demand. “Europe trades with the rest of the world; the US is not the dominant factor in international trade.”

[Individual Stock News]

Paramount and Warner Bros. explore a $111 billion merger deal suspended. According to reports, Paramount (PSKY.US) said on Friday local time that the company has agreed to suspend the merger deal with Warner Bros. Exploration (WBD.US) and extend the suspension period until June next year at the latest, to wait for a judge to hear lawsuits filed by various US state attorneys general to prevent the deal. The two sides stated in legal documents that they have reached an agreement to freeze this merger deal worth 111 billion US dollars, extending the short-term suspension order previously implemented by a California federal judge this week. The deal will integrate two major film studios, streaming services HBO Max and Paramount+, and networks such as CBS and CNN under the same umbrella. David Ellison, the head of Paramount, actively promoted the acquisition of Warner Bros. and eventually defeated Netflix after putting forward multiple rounds of price increases.

Relations deteriorated due to heated competition Waymo is considering ending its partnership with Uber (UBER.US). According to reports, Waymo, an autonomous driving company owned by Alphabet, is exploring options to exit the partnership with Uber. The relationship is deteriorating as the two technology companies compete fiercely to lobby for the future driverless taxi industry. According to several people familiar with the matter, the autonomous car company is already discussing ending the cooperation agreement with online ride-hailing giant Uber to carry out its current service in Austin and Atlanta. Uber said in a statement that Waymo has notified the company that it plans to enter these two markets independently from January 2028, as permitted by the contract. The two companies first established a partnership in 2023, but as the two sides gradually became direct competitors in some markets and lobbied for driverless taxi regulation policies that benefit their own business and weaken each other's interests, the relationship continued to deteriorate.

After SpaceX (SPCX.US) stock prices plummeted, it may usher in an opportunity. Morgan Stanley analysts are optimistic about the valuation of its AI business. Analysts at Morgan Stanley said that the sell-off in SpaceX shares has pushed its share price to a level close to a level where investors value its artificial intelligence business at zero. Morgan Stanley analyst Adam Jonas wrote in a report to clients on Friday: “We believe that there is a disconnect between the current growing pessimism of investors and the fact that the company's fundamentals have remained largely unchanged, creating an attractive opportunity for investors to buy SpaceX shares.” Jonas said that many investors expect SpaceX's share price may drop further to $100 per share as the first batch of stock restrictions expires next month, and some insiders can sell their shares. He believes that at this level, investors are actually giving SpaceX an artificial intelligence business zero or even a negative valuation. The analyst gave SpaceX shares a target price of $300, with more than 50% of the valuation coming from the company's artificial intelligence business.

[Major Bank Ratings]

Rosenblatt Securities: Raising Intel (INTC.US) Price Target from $65 to $80

J.P. Morgan: Raising the price target for RTX.US (RTX.US) from $215 to $240; raising the target price for Intel (INTC.US) from $75 to $84