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7/30
07:43
Wealth management clients, including high-net-worth individuals, are increasingly turning to AI chatbots like Claude and ChatGPT for portfolio recommendations and tax advice, according to industry leaders. Matthew Fleissig, CEO of US-based Pathstone ($185 billion AUM), stated that ChatGPT is currently the largest investment advisor globally. Clients use AI for second opinions, to formulate questions for their advisors, and to evaluate firms, a trend observed by Northern Trust and WE Family Offices over the past 5-18 months. While this can make client meetings more efficient, experts warn of risks such as inaccurate advice, factual errors, and personal information leakage. The trend is prompting wealth advisories to justify their fees more rigorously, with Morningstar noting a pullback in wealth management stocks as AI encroaches on the industry.
07:33
Starbucks U.S. announced its financial results for the third quarter of fiscal year 2026 on July 29, local time. During the period, the company reported net revenue of $9.32 billion, exceeding market expectations of $9.16 billion; net income attributable to the parent company reached $1.05 billion, representing a significant year-over-year increase. The financial report shows that the international business improved profit margins through a transition to a franchise model, while the North American market maintained same-store sales growth through enhanced operational efficiency and sales of high-margin cold beverages. As a result, Starbucks has raised its full-year FY2026 operating margin forecast and earnings per share (EPS) guidance range.
07:27
BTIG strategist Jonathan Krinsky warns that a potential rebound in high-flying momentum stocks, following a recent historic crash on Wall Street, could be a trap. Krinsky suggests such a bounce might precede another selloff.
07:21
CoinDesk reports that net inflows into Bitcoin spot ETFs in July are on track to hit a record low, totaling just $205 million so far. Previously, these ETFs recorded net outflows of $2.43 billion and $4.52 billion in May and June, respectively.In contrast, the Ethereum ETF attracted $342.85 million in net inflows in July, outperforming theBitcoin, and other crypto funds. The XRP and Solana ETFs also recorded inflows of $13.61 million and $13.82 million, respectively. Analysts believe these figures indicate limited interest in cryptocurrencies among institutional investors.
07:21
South Korean Deputy Prime Minister Koo Yun-cheol confirmed to lawmakers that South Korea plans to tax cryptocurrency gains starting January 1, 2027. Under the plan, the portion of annual cryptocurrency gains exceeding 2.5 million won (approximately $1,740) will be subject to a maximum combined tax rate of 22%. This move indicates that the South Korean government does not intend to postpone the implementation of this measure for a fourth time. Currently, a bill aimed at repealing the tax is still under consideration in the National Assembly.
07:04
The Bank of England decided to keep its key interest rate unchanged at 3.75%. The vote was 6 to 3, with three policymakers supporting a rate hike and none supporting a cut, reflecting internal hawkish divisions. The Bank of England expects inflation to peak at 3.2% in the fourth quarter and return to the target level in early 2028, but warned that inflation could rise to 4.5% if oil prices remain above $100 per barrel. Policymakers indicated that interest rate cuts remain a possibility in the future if inflation risks subside.
07:02
Ferrari reported a Q2 net profit of €463 million and revenue of €1.94 billion, both exceeding analyst estimates. The luxury carmaker also maintained its full-year adjusted EBITDA guidance at a minimum of €2.97 billion, in line with expectations.
07:01
BNB's trading volume over the past hour reached $11.39 million, which is eight times the average for the same time period over the past seven days; it is currently trading at $587.390.
07:00
Bitcoin (BTC) held steady near $64,000, showing resilience despite global risk assets facing pressure from multiple fronts. This includes an 8% surge in oil prices after Iran launched ballistic missiles at U.S. troops, and the U.S. Federal Reserve's hawkish split, where three committee members voted for an interest rate increase even as the main rate remained unchanged. The Dow Jones Industrial Average fell 2.2%, and the Nasdaq Composite hit a three-month low.
06:55
US Treasuries extended their decline as bond traders awaited upcoming US inflation data. The market is bracing for the data, which could solidify concerns that the Federal Reserve is not acting quickly enough to control price growth.
06:52
Farmers in Iowa and across the U.S. are facing significant challenges, including rising input costs due to the Iran war, low crop prices, and increased health insurance premiums, according to a CNBC report. This comes despite President Donald Trump's promises of a "golden age" for agriculture. The American Farm Bureau Federation projects a $32 billion loss on major crops in 2027, and farm bankruptcies increased in 2025 and 2026. Trump's approval among rural voters has also reportedly fallen to 44% in July, down from 60% at the start of his second term.
06:43
Polish Prime Minister Donald Tusk stated that the fate of the war may be decided in the next 100 days.
06:22
OKX Wallet announced that older versions of its app and browser extension will no longer support Zcash. This change, effective July 30, is due to the Zcash network upgrade. Users are advised to update to app version 6.181.0 or later, or extension version 4.8.9 or later, to continue using Zcash-related services.
06:17
Cryptocurrency exchange Bybit has listed the WMTUSDT Perpetual Contract, which is now open for trading with up to 25x leverage.
06:16
Crypto exchange Bybit has listed the MAUSDT Perpetual Contract. Trading is now open with up to 25x leverage.
06:16
Crypto exchange Bybit has listed the PYPLUSDT perpetual contract. The contract is now available for trading with up to 20x leverage.

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