US stock indexes rebound strongly, Dow hits a record high: The Nasdaq rose 2.13%, the S&P 500 up 1.48%, and the tech mega-cap index surged 3.6%. Amazon's market value topped $3 trillion for the first time, Nvidia back to $5 trillion, Meta up over 6%, Google nearly 5%, surpassing Apple in market cap.
Crude oil plunges 7.42%: Trump says US-Iran talks have started, hinting that the Strait of Hormuz could reopen, Iran denies this but oil risk premium drops sharply. Trump also pressures ExxonMobil and Chevron to lower oil prices.
US Treasury yields fall, yen intervention in focus: 10-year US Treasury yield drops to 4.68%, 2-year at 4.246%. Japan intervened in the forex market around $87 billion at the end of July, and the US Treasury said liquidity can be obtained by pledging Treasuries without selling them.
AI and cloud computing narrative returns: CoreWeave surges 19%, Oracle up 9%; Palantir beats Q2 expectations and jumps 14% in after-hours trading; fiber optics, quantum computing, storage sectors rise together. Morgan Stanley thinks some low-valued crypto-related stocks could be due for a revaluation.