ADDX GO Market Morning Wrap - 9th Aug

Stock Market 

On August 8, U.S. stocks opened high and closed higher, with all three major indices posting gains. By the close, the Dow Jones Industrial Average rose 0.47% to 44,175.61 points; the S&P 500 gained 0.78% to 6,389.45 points; and the Nasdaq Composite rose 0.98% to 21,450.02 points, marking its second consecutive day of record closes.  

 

On a weekly basis, the Dow rose 1.35%, the S&P 500 climbed 2.43%, the Nasdaq Composite gained 3.87%, and the Nasdaq 100 increased 3.73% over the week. The primary driver was the strong performance of heavyweight stock Apple.  

 

Popular tech stocks generally rose, with Apple up over 4%, gaining more than 13% for the week—its best weekly performance since July 2020. Google and Tesla rose over 2%, while Nvidia gained more than 1%, hitting a new closing high.

 

The automotive manufacturing and consumer electronics sectors led gains, with GoPro up over 7%, Sony up more than 4%, and Toyota and Honda each rising over 3%. Sports betting and cruise line concepts saw declines, with Flutter Entertainment dropping over 8% and Carnival Cruises and Royal Caribbean Cruises each falling more than 2%.  

On Wednesday, Apple announced an additional $100 billion investment in the U.S. and advanced its “Made in America” plan. U.S. President Trump stated at the event that Apple would be exempt from chip and semiconductor tariffs.  

 

eToro analyst Bret Kenwell noted that market momentum is strong, with both technicals and fundamentals favoring bulls. “While unexpected risks may arise in the second half, corporate earnings have exceeded expectations, and the Fed is inching closer to rate cuts.”  

 

JPMorgan analysis suggests that August employment data will be a key factor in determining whether the Fed opts for significant rate cuts: an unemployment rate at or above 4.4% could support a larger cut, while opposition from inflation-focused policymakers might emerge otherwise.  

Global Hotspots  

Trump Announces Meeting with Putin in Alaska on the 15th  

 

U.S. President Trump posted on his social media platform “Truth Social” on August 8 local time, announcing a meeting with Russian President Putin in Alaska on August 15, with further details to follow. Russia has yet to respond.  

 

U.S. June Imports Plummet Far Beyond Expectations  

 

The National Retail Federation (NRF) reported on August 8 local time that U.S. imports in June dropped 8.4% year-on-year, far exceeding expectations, due to tariff hikes under the Trump administration.

 

Multiple tariffs took effect on August 7, with some national goods facing rates as high as 50%. The NRF forecasts a 5.6% decline in full-year 2025 imports compared to last year. NRF Vice President Gold warned that tariffs are driving up prices, reducing product variety, and called for trade agreements to lower tariffs.  

 

Indian Businessman in U.S.: Tariffs Reduce Consumer Purchasing Power, Business Struggles  

 

U.S. President Trump signed an executive order on the 6th, imposing an additional 25% tariff on Indian goods exported to the U.S., citing India’s “direct or indirect” imports of Russian oil, bringing the total tariff rate to 50%.

 

Indian businessmen in the U.S. say this will lower American consumer purchasing power and jeopardize their businesses.  

 

World Meteorological Organization: Extreme Heat Affects Global Population  

 

The World Meteorological Organization (WMO) stated on the 7th that extreme heat is impacting a large global population, with wildfires and air pollution exacerbating the effects, underscoring the need for improved early warning systems and heat health action plans.

 

The WMO report noted that recent global heatwaves have set new temperature records. According to the EU’s Copernicus Climate Change Service, July 2025 was the third-warmest July on record, with the average sea surface temperature also ranking third-highest.

 

In Europe, Sweden and Finland experienced unusually prolonged temperatures above 30°C, while Southeast Europe faced heatwaves and wildfires. China and Japan also saw significantly higher-than-average July temperatures.  

 

WTO Revises Forecast: Global Goods Trade to Grow 0.9% This Year  

 

The World Trade Organization (WTO) released a forecast on August 8, projecting global goods trade volume to grow 0.9% in 2025, an upward revision from the -0.2% contraction predicted in April, though below the pre-tariff hike 2.7%.

 

The adjustment reflects two positive factors: first, U.S. imports surged 11% year-on-year in the first half of 2025 to avoid tariffs, temporarily boosting trade prospects; second, the global macroeconomic outlook is more optimistic than economists’ April expectations.

 

A weaker dollar against other currencies is cited as a reason for improved conditions in developing economies, while falling oil prices could support manufacturing economies, though potentially reducing import demand in oil-producing regions.  

 

U.S. Tax Credits Countdown: Analysts Predict EV ‘Final Frenzy’  

 

Automotive industry analysts say U.S. consumers are rushing to buy electric vehicles (EVs) before the deadline to claim a $7,500 tax credit per vehicle. Stephanie Valdez Streaty, senior analyst at Cox Automotive Consulting, noted, “With tax incentives set to expire, we expect a record Q3 EV sales surge as people scramble to buy.”  

 

Company News  

Challenging the Largest IPO in History? Fannie Mae and Freddie Mac Rumored to Plan Year-End Listing  

 

Amid a sizzling U.S. IPO market, long-speculated news of the relisting of America’s “two housing giants” has gained traction. The latest reports on Friday suggest the U.S. government is planning to sell shares of mortgage giants Fannie Mae and Freddie Mac on the secondary market, potentially launching later this year with a fundraising target of $30 billion.  

 

Amazon Commits $1 Billion in Cloud Service Discounts to U.S. Government  

  Amazon Web Services (AWS) pledged up to $1 billion in discounts for U.S. government agencies by 2028, aiding modernization with AI and cloud tech. The General Services Administration announced the partnership, with AWS offering credits for training, infrastructure upgrades, and cloud migration to cut costs and accelerate federal digital transformation.  

 

Tesla Secures Texas Ride-Hailing License, Paving Way for Robotaxi Operations  

 

Tesla has obtained a ride-hailing license in Texas, enabling the EV maker to operate its autonomous Robotaxi service under the state’s new self-driving vehicle regulations. Tesla Robotaxi LLC is now listed by Texas licensing and regulatory authorities as a permitted transportation network company, joining Uber Technologies Inc. and Lyft Inc.

 

The license is essential as Texas’s new law, effective September 1, imposes equivalent regulations on autonomous ride-hailing as human-driven services.  

 

U.S.’s Largest Rare Earth Miner Q2 Output Surges, Stock Hits New High  

 

Shares of MP Materials, the largest U.S. rare earth miner, hit a record high on Friday after reporting a significant Q2 output increase, a quarterly loss below expectations, and forecasts for further growth.  

 

Amid ‘Stargate’ Progress Admission, SoftBank Buys Foxconn’s U.S. EV Plant for AI  

 

Since announcing the “Stargate” project in January at the White House with bold AI investment plans in the U.S., SoftBank has been quiet—until this week. Latest reports on Friday reveal that SoftBank is the mystery buyer of Foxconn’s U.S. electric vehicle plant, signaling a shift toward AI development.  

Forex & Commodities  

WTI crude futures closed flat at $63.88 per barrel, down 5.81% for the week. Brent crude futures rose 0.24% to $66.59 per barrel, down 4.73% weekly.  

 

COMEX gold futures gained 0.13% to $3,458.2 per ounce, up 1.24% for the week. COMEX silver futures rose 0.56% to $38.51 per ounce, up 3.79% weekly.  

 

The U.S. Dollar Index rose 0.20% to 98.271.  

Key Events  

New York Gold Futures Briefly Hit Record High, U.S. Tariff News Shakes Market  

 

On Friday (August 8), December gold futures on the New York Mercantile Exchange briefly hit a record high as the U.S. imposed import tariffs on 1-kilogram and 100-ounce gold bars. Prices surged to $3,534.1 per ounce intraday, surpassing the prior high from April 22, with gains nearing 1.5%.  

Cryptocurrency  

Major digital assets rose broadly on Friday.  

 

The CoinDesk Market Index, tracking dozens of assets including Bitcoin, rose nearly 1.8% in the past 24 hours.  

 

Bitcoin fell 0.9% to $116,452, with 24-hour trading volume up 1.1% to $61.82 billion.  

 

Ethereum (ETH-USD), the second-largest digital asset by market value, climbed 4.9% to $4,052.  

 

XRP (XRP-USD) gained 6.8%, BNB (BNB-USD) rose 1.8%, and Solana (SOL-USD) surged 3.7%.  

 

Dogecoin (DOGE-USD) rose 4.9%, and Cardano (ADA-USD) added 4%.  

 

The total market value of the cryptocurrency industry rose 0.9% in the past 24 hours to $3.89 trillion, with trading volume up 23.5% to $183.53 billion.  

Key Events  

Embracing Digital Assets! Japan’s SBI Plans Nation’s First Bitcoin-XRP Dual-Asset ETF  

 

Japan’s financial giant SBI Holdings plans to launch the country’s first dual-asset cryptocurrency ETF, offering exposure to Bitcoin and Ripple (XRP), potentially marking a major breakthrough in Japan’s tightly regulated financial market for crypto investment products.  

 

On Thursday, SBI Holdings outlined plans for two crypto-based ETF products in its financial report, indicating discussions with regulators may be underway following regulatory approval.