Morning Juice – US Session Prep (31st July)

Sentiment
Technology stocks rallied as the chip rebound extended into Friday, helping markets end a volatile month on firmer footing.
South Korea’s Kospi surged a record 18%, SK Hynix hit its 30% daily limit, Nasdaq 100 futures rose 1.1% and a major semiconductor ETF gained 4.3%.
Europe’s Stoxx 600 approached a record high, while Amazon jumped 11%.

The recovery followed strong earnings from Microsoft and Amazon, whose fastest cloud growth since 2021 helped reassure investors that heavy AI capital spending can still generate sufficient returns.
Apple moved in the opposite direction, falling 7.8% after a weak sales outlook.
Elsewhere, Brent rose toward $90 as traders monitored the US-Iran conflict, while the yen remained volatile after the BoJ held rates and offered little support, despite signs that Japan spent around $52.8 billion intervening in FX markets.

Docket
08:30 ET
Canadian GDP MoM for May
Forecast: 0.2% | Prior: 0.5% | Range: 0.2% / 0.1%

10:00 ET
University of Michigan Survey June Final
Sentiment: – Forecast: 54 | Prior: 54.4 | Range: 55 / 52
1-Year Inflation – Forecast: 4.3% | Prior: 4.2% | Range: 4.4% / 4.2%
5-Year Inflation – Forecast: 3.3% | Prior: 3.3% | Range: 3.3% / 3.2%

Speakers
11:00 ET
Trump Cabinet Meeting

Good luck, and have a good weekend!