Bitget UEX Daily Report | US Stocks Rebound Sharply Led by Memory Chips; Precious Metals and Crude Oil Strengthen Simultaneously; Alphabet, IBM, Tesla Earnings Reports Incoming
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Bitget UEX Daily Report | US Stocks Rebound Sharply Led by Memory Chips; Precious Metals and Crude Oil Strengthen Simultaneously; Alphabet, IBM, Tesla Earnings Reports Incoming
Overall strategy recommendations suggest maintaining flexibility during the rebound, prioritizing AI supply chain segments with earnings elasticity, while remaining wary of profit-taking following overheating and macro data disturbances.
Navigating Web3 tides with focused insights
I. Key News
International Commodities
Precious Metals and Crude Oil Strengthen Simultaneously, Safe-Haven and Supply Concerns Intertwine
- Gold and Silver rose significantly, and crude oil also recorded a noticeable increase.
- Geopolitical and supply-demand factors jointly drive prices. Market Impact: Commodities moving up in tandem reinforces dual narratives of inflation and safe-haven demand, causing some disturbance to interest rate-sensitive assets.
Macroeconomic Policy
Market Sentiment Turns Optimistic, Tech and Storage Themes Lead Rebound
- US stocks experienced a sharp rebound after consecutive pullbacks, with the memory chip sector becoming the core driver.
- Capital flows back from defensive positions to growth and AI-related targets. Market Impact: Short-term risk appetite rebounds, but caution is needed regarding subsequent earnings verification and macroeconomic data fluctuations.
II. Market Review
Commodities & Forex Performance
- Spot Gold: About 4,115 USD/oz, +0.92%
- Spot Silver: About 59 USD/oz, +1.65%
- WTI Crude Oil: About 85.47 USD/barrel, +1.32%
- Brent Crude Oil: About 92.4 USD/barrel, +1.15%
- US Dollar Index (DXY): About 101.16, -0.03%
Driver Analysis: Precious metals and crude oil strengthened simultaneously, reflecting geopolitical risk premiums and renewed safe-haven demand, while supply-side tightness and AI-related industrial demand expectations provided additional support. Silver's gain was significantly larger than gold's, indicating strengthened industrial attributes. A slight strengthening of the US dollar exerted some pressure on precious metals but failed to stop the price upward trend. Institutional views suggest that short-term commodities remain dominated by macro uncertainty, with obvious inter-asset correlation. If risk events ease, prices may correct, but the medium-term supply-demand pattern remains bullish.
Cryptocurrency Performance
- BTC: About 66,666 USD, +1.45%
- ETH: About 1,940 USD, +1.14%
- Total Cryptocurrency Market Cap: 2.34 trillion USD, +1.2%
- Market Liquidation Status: 24h Total Liquidations 205 million, Short Liquidations 159 million USD
- Bitget BTC/USDT Liquidation Map: Current price is near 66,425 USD, below which the 65,500–66,000 USD area accumulates a large number of high-leverage long liquidation positions. If price falls below this area, it may trigger cascading long liquidations, accelerating the decline. Above, there is a large short liquidation liquidity pool in the 67,500–69,000 USD area, the market has momentum to sweep liquidity upward in the short term. If breaking through 67,000 USD, price has a chance to rise quickly above 68,000 USD.
- Spot ETF Net Inflow/Outflow: BTC Spot ETF net inflow yesterday was 227 million USD, current 24h dynamic net inflow is 39.3 million USD, net inflow for 6 consecutive days.
Driver Analysis: US stock risk appetite rebound and ETF fund inflows jointly support crypto market recovery. BTC held key ranges and broke upward, ETH followed but with relatively weaker elasticity. Leverage liquidation data shows market sentiment remains cautious, technical repair and macro linkage are main drivers. Institutional consensus points to oscillating upward trend, but reminds to focus on subsequent US stock earnings and policy spillover potential impact on risk assets.
US Stock Index Performance
- Dow Jones Index: Closed about 52,225 points, up about 0.74%, ending consecutive pullbacks
- S&P 500: Closed up about 0.9%, showing obvious rebound
- Nasdaq Index: Closed up about 1.3%, leading the three major indices, tech and semiconductor drive obvious
Tech Giants Dynamics
- NVDA: 207.29 (+1.97%)
- AAPL: 327.74 (+0.35%)
- MSFT: 397.75 (-1.13%)
- GOOGL: 347.15 (-1.38%)
- AMZN: 247.55 (-0.98%)
- META: 643.81 (-0.32%)
- TSLA: 378.93 (+2.53%)
Performance Summary and Driver Analysis: Tech sector overall benefited from risk appetite rebound, but the real leaders were the memory and semiconductor sub-sectors. AI capex expectations and supply chain tightness logic strengthened, individual stock divergence is obvious — memory leaders gained far more than traditional giants, showing capital focuses more on earnings elasticity and supply-demand shortage themes, rather than simple valuation repair.
Sector Movement Observation
Memory Chips/Semiconductors Significantly Lead Gains
- Representative Stocks: Micron Technology (MU) up over 12%, closed about 970.82 USD; AMD up about 7.87%, Intel up about 8.02%.
- Drivers: AI server and High Bandwidth Memory (HBM) demand remains strong, supply chain tightness expectations rise again, plus capital flows back centrally after consecutive pullbacks. Market trades memory cycle upward logic in advance, sector elasticity significantly higher than大盘，institutions believe if subsequent earnings verify demand, upward space remains considerable, but short-term need to guard against profit-taking pressure.
Tech and Growth Sectors Rebound Simultaneously
- Representative Stocks: Microsoft (MSFT) rose steadily, Google (GOOGL) followed rebound, cloud service and AI-related targets like NVDA, AMZN etc. generally closed higher.
- Drivers: Risk appetite rebound plus AI theme capital flow back, sector rotation from defensive to growth, short-term driven by technical repair and theme drive. Cloud business and AI infrastructure investment narrative provide support, capital replenishes from earlier oversold individual stocks, but gains obviously lag behind memory sub-sector, showing divergence characteristics.
III. In-depth Analysis of US Stocks
1. Micron Technology (MU) - Memory Chip Demand Drives Surge
Event Overview: Micron Technology stock price surged over 12% in a single day, closed about 970 USD vicinity, becoming market focus. Company HBM capacity has been sold out until 2026 via fixed-price contracts, AI data center demand for high bandwidth memory remains tight. Previously market discussion on AI capex heated up, storage as key bottleneck link gained capital favor, data center business revenue proportion exceeded half. Market Interpretation: Multiple institutions (including UBS, Citi, etc.) raised target prices to 800-1750 USD range, believe supply-demand gap may continue until 2027. Analysts point out, Micron's layout in HBM3E/HBM4 field and long-term supply agreements provide rare revenue visibility, short-term gain reflects capital repricing on earnings elasticity and pricing power, meanwhile still remind to focus on traditional memory cycle risk. Investment Implications: Memory cycle and AI demand resonance provide medium-term logic, but need to closely track subsequent earnings, capacity expansion progress and free cash flow conversion, avoid volatility risk after chasing highs.
2. Tesla (TSLA) - Focus on Robotaxi and Deliveries in After-Hours Earnings Today
Event Overview: Tesla will announce Q2 earnings after US Eastern Time market close on July 22. Company Q2 deliveries increased YoY by about 25% to the best level in history for the same period, produced about 452,000 vehicles. Wall Street expects non-GAAP EPS about 0.55 USD, revenue about 27.5 billion USD, market focus concentrates on gross margin, Robotaxi progress, energy storage business and guidance. Market Interpretation: Institutions believe earlier aggressive timelines (such as Robotaxi coverage) not fully realized have partially weakened trust, short-term stock price rebound more benefits from broad market risk appetite rebound. Analysts emphasize execution landing and competition landscape remain key variables, strong deliveries but earnings quality and AI/autonomous driving commercialization progress will determine valuation re-rating space. Investment Implications: Focus on Robotaxi update, energy business contribution and full-year guidance in tonight's earnings, as core catalysts to judge AI and robot narrative realization.
3. IBM - After-Hours Earnings Today to Verify AI and Cloud Growth
Event Overview: IBM will announce full Q2 earnings at 5 PM US Eastern Time on July 22. Company previously guided Q2 revenue about 17.2 billion USD (YoY growth about 1%), adjusted EPS about 2.93 USD, both lower than market expectations, causing stock price to plunge about 25% in a single day previously. Market focuses on hybrid cloud, software and consulting business actual performance under AI budget squeeze. Market Interpretation: Institutions point out AI capex boom may squeeze enterprise software budgets, leading to growth slowdown. Analysts believe valuation has reflected part of pessimistic expectations, if tonight's guidance shows pipeline warming or AI solution contribution acceleration, may trigger repair; otherwise need further verification of long-term growth logic. Investment Implications: Suitable for investors focusing on steady AI exposure,重点 track hybrid cloud revenue growth and software margin, guard against short-term earnings pressure continuous suppression on valuation.
4. Google (GOOGL) - After-Hours Earnings Today Focus on Cloud and AI Returns
Event Overview: Alphabet will announce Q2 earnings after market close US Eastern Time on July 22. Wall Street expects revenue about 100-117 billion USD (YoY growth about 21%), EPS about 2.87-2.93 USD; Google Cloud growth rate expected about 60%+, meanwhile focus on TPU chip sales, Gemini model progress and full-year capex (previous guidance 180-190 billion USD). Market Interpretation: Institutions believe vertical integration capability helps cost control and efficiency improvement, but need to verify AI investment revenue conversion speed. Analysts focus on search ad resilience, cloud business profit improvement and "Other Bets" segment warming situation, believe earnings may become important touchstone for tech sector sentiment. Investment Implications: Long-term bullish on cloud and AI ecosystem, focus on AI-related revenue contribution proportion and capex efficiency in earnings, as key signals to judge valuation sustainability.
5. AAOI - Optical Communication AI Demand Drives Movement
Event Overview: Applied Optoelectronics (AAOI) fluctuated significantly due to strong AI optical network demand, stock price single day gain over 15%. Company is expanding Texas manufacturing capacity, supporting high-end optical modules like 800G, benefiting from strong demand for high-speed optical interconnects from hyperscale data centers. Market Interpretation: Institutions point out AAOI as a key player in AI optical supply chain, highly sensitive to data center optical module orders. Analysts focus on capacity expansion implementation, order backlog conversion and competition with Coherent, Lumentum etc., short-term volatility amplifies theme heat, but long-term growth relies on AI infrastructure construction pace. Investment Implications: Suitable for investors with higher risk tolerance, closely monitor Q2 earnings, capacity progress and industry cycle signals, avoid pure theme speculation risk.
6. AXTI - Semiconductor Materials Niche Benefits from AI
Event Overview: AXTI as a compound semiconductor material supplier, indirectly benefits in AI optoelectronics and advanced packaging fields, stock price shows elasticity with sector rotation. Material side supports optical communication and power device demand growth. Market Interpretation: Institutions believe AXTI and other material stocks are sensitive to AI supply chain upstream, short-term gain reflects theme heat, but fundamentals rely on downstream order confirmation and technical verification. Volatility significant, need to focus on competition landscape and supply chain stability. Investment Implications: As high beta configuration supplement, suitable for diversified investment, focus track order data and industry cycle, avoid independent holding too heavy.
IV. Market & Project Dynamics
1. According to The Block report, Bitcoin is approaching 68,000 USD key resistance level after rebounding about 15% from July lows. Analysts point out, this level is close to average cost price of buyers in past five months, many previously losing investors may choose to sell when first returning to cost price, forming selling pressure. Additionally, 68,000 USD area is also mid-June previous high position, previous rebound failed here then fell below 58,000 USD. Analysts expect first test of this resistance level will trigger violent reaction.
Analysts believe market conditions are gradually improving — US spot Bitcoin ETF has turned from continuous outflow to mild inflow, but demand has not fully recovered. Bitcoin proportion of spot trading volume rose from about 50% one year ago to nearly 67%, showing investors still prefer Bitcoin rather than small market cap tokens, market sentiment remains defensive. K33 Research points out, CME Bitcoin futures open interest dropped to lowest since 2023, 30-day spot trading volume only 62% of annual average, late July historically weakest period of the year. K33 describes current as "typical summer slump period".
2. Cathie Wood's Ark Invest bought 16,665 shares of Securitize (SECZ) stock on Tuesday, value about 125,654 USD. SECZ rose 13.9% that day, closed at 7.54 USD.
3. Solana and Hyperliquid ETFs have occupied nearly 80% of non-Bitcoin and Ethereum ETF trading volume. Solana ETF assets under management reached 904 million USD, Hyperliquid ETF launched only two months has attracted 350 million USD net inflow, both account for about 2% of respective token market cap respectively. In contrast, Bitcoin ETF accounts for about 9% of its market cap, gap indicates altcoin ETFs still have growth space.
4. UK Bitcoin reserve listed company Satsuma Technology shareholders approved selling all Bitcoin holdings, returning capital to investors and delisting from London Stock Exchange with 90% support rate. Company currently holds 668 BTC (about 43.5 million USD), second largest listed Bitcoin reserve company in UK.
5. According to Businesswire, stablecoin issuer Circle Internet Group (NYSE: CRCL) announced, will announce 2026 Q2 financial results on August 5, 2026 (Wednesday).
Circle stated it will hold an online video live stream at 8 AM US Eastern Time, introducing quarterly financial performance and business progress, this live stream will be open to public via Circle official YouTube and X (formerly Twitter) channels.
Market expects this earnings report to focus on Circle's USD stablecoin USDC circulation size, reserve yield, institutional cooperation progress and stablecoin market competition landscape changes.
6. Asset management giant BlackRock's Korea ETF iShares MSCI South Korea ETF (EWY) had net inflows over 2.8 billion USD last week, creating single week historical high, far exceeding 1.2 billion USD record created in February this year, among which about 25% of positions have been allocated to SK Hynix.
7. South Korean President Lee Jae-myung stated at the State Council meeting today regarding market controversy triggered by Samsung Electronics, SK Hynix single-stock leveraged ETFs, financial regulatory departments should formulate and improve relevant supporting measures as soon as possible, study launching further countermeasures if necessary, he called market generally criticizes single-stock leveraged ETFs "excessively amplified market volatility", requesting relevant departments "quickly and fully improve relevant systems".
8. Morgan Stanley "bought the dip" again in the past week, increasing holdings by about 115 BTC via its spot Bitcoin ETF MSBT, so far its total Bitcoin holdings have reached 5,876 BTC, value over 389 million USD.
V. Today's Market Calendar
Data Release Schedule
July 22 (Wednesday)
★★★★★ Google (Alphabet) releases earnings after hours, market focuses on AI investment returns and cloud business growth; ★★★★★ IBM releases earnings after hours, investors evaluate AI-related business performance; ★★★★★ Tesla releases earnings after hours, focus on deliveries, robots and AI progress;
July 23 (Thursday)
American Airlines, Blackstone, Lockheed Martin, Nokia, Raytheon Technologies will announce earnings before US market open ★★★★★ Intel releases earnings after hours,重点 examine chip demand and AI-related prospects;
July 24 (Friday)
★★★★ Trump attends White House Correspondents' Dinner, speech content may affect market; ★★★★ AMD holds Advancing AI conference, CEO Lisa Su gives speech, discussing AI agents, model optimization etc.
Institutional Views:
Investment bank analysts generally believe, US stocks sharp rebound driven by memory chip supply-demand logic and risk appetite rebound jointly, short-term technical repair obvious, but sustainability still depends on upcoming earnings verification. Precious metals and crude oil strengthen simultaneously reflecting macro uncertainty remains, crypto market benefits from capital flow back. Overall strategy suggests maintaining flexibility during rebound, prioritize focusing on AI supply chain links with earnings elasticity, meanwhile guard against profit-taking after overheating and macroeconomic data disturbance.
Disclaimer: The above content is organized by AI search, manual verification only for publication, not as any investment advice. Data in the text inevitably contains deviations, please refer to real-time market data.
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