Track the evolution of major financial and economic events
On July 2, Tesla reported Q2 delivery numbers that exceeded analyst expectations. On July 7, Tesla announced significant growth in electric vehicle deliveries in its most recently completed quarter.
The USD/JPY pair experienced a steep decline and broke the 161.51 support level, confirming a short-term top at 162.83. The intraday bias for USD/JPY has shifted to the downside, targeting the 38.2% retracement level at 159.84. The pair found technical support at a previous resistance area around the 161.00 level.
The EU has initiated a review of the MiCA regime, informally called MiCA 2.0, with a consultation period ending in September. Lawyers and industry executives expect EU regulators to enforce MiCA differently, as unauthorized crypto companies must wind down operations. The UK's FCA's new crypto framework has been praised for its focus on global liquidity and institutional adoption. The authorization and compliance process for crypto firms is expected to be daunting and complex.
The Indian government plans to sell stakes in 8 state-owned companies, including major insurers and banks, to raise billions of dollars. This move aims to plug the fiscal gap caused by the oil shock following the closure of the Strait of Hormuz. The government also plans to sell up to a 5.04% stake in Cochin Shipyard through an Offer for Sale. Additionally, India has scrapped import duties on some parts used to make mobile phones and other electronic devices, which previously stood at 5% and 7.5%.
The total number of Bitcoin ATMs declined sharply in the first half of 2026, with the United States accounting for 96% of the global decrease. Key factors include the state of Tennessee implementing a ban on these machines and FBI data identifying Bitcoin ATMs as a final stop in an $11 billion cryptocurrency scam pipeline.
The EUR/USD pair is nearing its weekly high at 1.1435. Technical analysis indicates a fading of the bearish momentum that was previously affecting the pair. On July 6, the pair surpassed the 38.2% Fibonacci retracement level of the recent downward move but faces selling pressure. Bears remain active near the 1.1675 resistance and the 100-period simple moving average.
A Nasdaq-listed Korean media company confirmed the liquidation of its entire Bitcoin treasury to pivot toward AI infrastructure and maintain its listing status. Concurrently, the IPO market saw significant activity as Bleichroeder Acquisition Corp. III completed a $345 million offering and Mercator Acquisition Corp. priced its $150 million IPO. Additionally, pharmaceutical firm Apnimed has filed for a U.S. initial public offering to fund the development of its sleep apnea treatment.
Japan's SBI Group announced it will shut down its Bitcoin mining pool on July 31 after more than five years of operation. On the same day, Yield Guild Games announced it is cutting 35 jobs and shutting down its YGG Play platform, as the company plans to pivot toward AI data services and datasets due to weak crypto gaming demand.
On July 2, Alphabet, Google's parent company, joined the Dow Jones Industrial Average, replacing Verizon. Alphabet became the fifth member of the 'Magnificent Seven' tech giants included in the blue-chip index. On July 7, Google participated in a €411 million funding round for the startup Proxima Fusion, which is targeting the development of Europe's first commercial fusion power plant. On July 8, Waymo announced plans to deploy its fully autonomous vehicles in four additional cities across the United States.
Spot gold prices surged above the $4,100 per ounce level on Thursday, July 2, following steady U.S. weekly jobless claims at 215,000, which came in below economists' forecasts. On July 9, spot gold prices continued to trade above $4,100 per ounce after the release of U.S. labor market data showing the same figure for jobless claims.
On July 2, Rivian raised its 2026 electric vehicle delivery outlook to a range of 65,000 to 70,000 units. The company delivered 12,194 vehicles in Q2, exceeding its previous guidance of 9,000 to 11,000 units. Rivian produced a total of 12,613 vehicles at its Normal, Illinois facility during the quarter ending June 30, 2026. On July 5, the company launched the R2 model, targeting the $50K midsize SUV segment.
SLB secured a seven-year contract with Kuwait Oil Company to drive digital transformation and technological innovation, while its OneSubsea unit won a contract from Eni in Indonesia. Financially, Oxbow Advisors acquired a new stake valued at $4.26 million, and institutional ownership remains high at 81.99%. The company also reported quarterly earnings of $0.52 per share, beating estimates, and announced a quarterly dividend of $0.295 per share.
On July 2, at least five supertankers carrying 10 million barrels of Saudi oil loaded from Ras Tanura exited the Strait of Hormuz. On the same day, Saudi Aramco announced its switch to spot pricing to accelerate sales in Asian markets. By July 6, Aramco had lowered its main oil prices for Asian buyers to rare discount levels.
On July 2, Europe's top court dismissed Google's appeal against a record fine of 4.125 billion euros imposed by EU antitrust regulators regarding its Android operating system. The fine stems from antitrust practices dating back eight years. Additionally, Alphabet Inc. lost three antitrust rulings in three days across the U.S., Europe, and Asia.
Cantor Fitzgerald predicts that Bitcoin could reach its cyclical floor within the coming months. The shareholder vote on the merger between Cantor Equity Partners and Bitcoin Standard Treasury has been postponed to July 10, with the proposed merger valued at approximately $4 billion and backed by Blockstream CEO Adam Back. Bernstein analysts maintained their year-end Bitcoin price target of $150K despite a 54% market drawdown, describing the current drawdown as milder compared to previous crypto bear cycles.
On July 2, Samsung Group announced plans to invest $90 billion in the central region of South Korea. On the same day, SK Hynix announced plans to invest $64 billion to build memory chip production and packaging facilities in South Korea. On July 3, Samsung distanced itself from the OUSD stablecoin founding consortium after being named as one of the project's partners.
On July 2, Tether froze USDT stablecoins in 131 wallets on the TRON network due to links with ISIS-K. On July 7, former Tether CIO Richard Heathcote is seeking buyers for part of his 1.26% stake in the firm.
Bitcoin faces further downside risk after its worst June performance since 2022. It closed June above the realized price but below the 200-week moving average. Analysts warn that current technical signals suggest the bear market bottom is still ahead. Meanwhile, Metaplanet added 2,823 Bitcoin to its treasury, increasing its total holdings to 43,000 BTC, while its revenue from Bitcoin income business fell by 41% in the second quarter.
Silver prices surged above $60.00 on July 2 as the Federal Reserve adopted a softer tone. On July 9, silver prices (XAG/USD) rebounded to trade above the $58.00 level despite ongoing inflation fears. Gold (XAU/USD) also saw a recovery as the dollar eased, although it faced pressure from rising Treasury yields.
Bitcoin and major altcoins experienced a sharp pullback in futures long exposure on July 2. Coinglass data indicated a sudden shift in trader positioning, potentially leading to higher near-term volatility. On July 3, Bitcoin deposits to exchanges rose to nearly 49,000 BTC, a rare extreme seen only four other times this year. On July 4, researchers at Schwab and Hashdex noted that the AI boom has diverted capital flows away from digital assets. Bitcoin continues to follow a familiar recovery pattern typical of the post-halving period.
Greenbrier issued its FY2026 earnings per share guidance, expecting it to be between $3 and $3.15. On July 6, investor focus on CSX's safety practices intensified following recent operational disruptions, including a train derailment in Pennsylvania. CSX reported solid Q1 2026 financial results with sales of $3,482 million and net income of $807 million. Additionally, CSX has expanded its Automated Track Inspection Program to cover over 16,000 miles of its rail network.
Bitcoin mining company American Bitcoin (ABTC) executed a 1-for-15 reverse stock split to maintain its Nasdaq listing, with split-adjusted trading commencing on July 6. Following the split, shares tumbled to $7.70 after an anticipated adjusted opening of $8.40. As of July 12, the company reported holding approximately 8,000 BTC on its balance sheet.
Idaho Copper announced on July 2 the pricing of a public offering of common stock and warrants at $4.85 per share, expecting gross proceeds of approximately $18 million before underwriting discounts and expenses. The company's shares will be listed on the NYSE American under the tickers COPR and COPR WS. On July 6, the company announced the closing of its public offering, with gross proceeds of approximately $18 million, and granted underwriters a 45-day option to purchase additional shares to cover over-allotments.
On July 1, Vertex received expanded approval for its Casgevy therapy to include children as young as two years old. On July 7, the U.S. FDA accepted the supplemental New Drug Application (sNDA) for mitapivat in sickle cell disease with Priority Review. The FDA set a PDUFA goal date of November 1, 2026, for the approval decision. Additionally, the FDA granted Rare Pediatric Disease Designation to VCA-894A, an experimental therapy for Charcot-Marie-Tooth disease type 2S.
