Indices:- U.S. equity index futures are mostly lower after a session that saw the Dow 30 (+0.3% to 53,055) close above 53,000 for the first time, and where there were larger percentage gains for both the S&P 500 (+0.7% to 7,537) and more so the tech-heavy Nasdaq 100 (+1.3% to 29,697) as communication and tech sectors outperformed; Treasury yields were mostly little changed by the close falling back in real terms across most of the curve, and market pricing (CME’s FedWatch) a slight majority on a 25bp Fed rate hike in SeptemberStocks:- Shares of Nvidia (+0.4%) finished slightly higher in what was a strong session for the semiconductor sphere with far larger gains for AMD (+6.6%), Western Digital (+7.1%), Teradyne (+2.8%), Broadcom (+3.7%), and ASML Holding (+3.2%) some of whom were helped by price target increases- Tesla shares (+6.7%) jump to close near $420 as it launched its Robotaxi self-driving service in Miami last Friday, while Rivian’s (+8.1%; -9.3% AH) gains by the close were undone in extended trading after its 75 million-share public offering plan- Dell (+4.4%) jumped after President Donald Trump promoted the company’s computers from the White House, while Microsoft (-1%) slipped after announcing job cuts- Positive session for IBM (+3.5%) after Bank of America raised its price target, while Datadog (-1.9%) declined following a Bernstein downgrade- Walmart (NASDAQ:WMT) (-1.1%) shares ended lower after President Trump said the retailer would lower prices- SpaceX (-1%; -1.8% AH) edged lower ahead of its addition to the Nasdaq-100- Rough morning for shares of Samsung (-8.4%) following its earnings release even as net profit jumped 19 times compared to the same period last year- Meme stock movers: Beyond Meat (+3.4%), Kohl’s (-7.2%), GoPro (+2.6), Opendoor (+3.9%), AMC (-7.9%), Nokia (+3.7%), Avis (-3.1%), Wendy’s (-8.1%)- Crypto stocks track cryptocurrencies higher: Coinbase (+2.1%), Mara Holdings (+4.4%), Gemini Space Station (+4.3%), Bullish (+3.9%), Circle Internet Group (+6.2%)Commodities:- Gold in retreat this morning moving below $4,140 as its wide bear channel continues to hold, with a larger percentage drop for silver briefly below 61; gold/silver ratio in the 67s- Oil prices (WTI) little changed around $69; unconfirmed Reuters report that UAE crude output is nearing record highs following its exit from OPEC; further strikes on energy infrastructure in Russia; DOE that crude oil stocks at the SPR is at its lowest level since 1983; Saudi Arabia cuts its August official selling prices to AsiaFX/Central Banks/Crypto:- Bitcoin falls back beneath $64K after volatile moves yesterday that were sparked by Strategy’s Bitcoin sale reveal with sentiment later supported by President Trump saying he’s “become a big crypto guy”; Ether’s attempt at staying above $1.8K fails again- US Dollar Index remains in the 100 handle with intraday gains failing to stick as traders weigh softer rate hike expectations against still-hawkish Fed rhetoric, while USD/JPY moves back below 162- Federal Reserve’s Waller that forward guidance remains a valuable policy tool if used flexibly, reaffirming the Fed’s commitment to its 2% inflation target while warning inflation risks have increased even as the labor market has stabilized- European Central Bank’s Schnabel that the recent fall in oil prices does not mean the inflation shock has passed and policymakers cannot ignore the risk of second-round price pressures, Moulin that the ECB is in a good position following June’s rate increase and declined to provide guidance on July’s policy decision, Lane that AI could affect monetary policy through productivity gains and investment, and Panetta that central banks in Europe could come under political pressureCapital.com Client Sentiment:- Indices: Gains in the Dow 30 causes sentiment to shift there again (from a slight buy 52% yesterday to a slight sell 53%) with long bias falling out of heavy buy in the Russell 2000 (62% from 66%) and Nasdaq 100 (63% from 65%), and not far off doing so in the S&P 500 (66% from 69%); elsewhere falls out of heavy buy in the Nikkei 225 (62% from 69%) while pushes further into extreme buy territory in the ASX 200 (91% from 89%)- Commodities: Heavy buy but falls in gold (to 70% from 74% yesterday) while holding in silver (at an extreme buy 84%), and little changed in WTI (69%)- Forex: Back in heavy sell territory in USD/JPY (68% from 64% yesterday) as shorts re-enter anticipating a pullback, while sentiment shifts in GBP/JPY (from a majority long 58% to a majority short 56%) as the jump saw longs close out and shorts initiateData:- U.S. ISM’s services PMI for June edged down to 54.0 and new orders eased to 55.1 from 57.3, but the employment component moved back into expansion at 51.2 from 47.9 and prices paid softened from 71.3 to 67.7- German factory orders in May rebound 1.9% m/m well above the 1.2% forecast following April’s 3.2% decline, with annual growth accelerating to 6.2%; EZ retail sales for the month rise 0.2% m/m and 1.6% y/y; producer prices increase 0.2% m/m with annual PPI accelerating to 5.9%; July Sentix investor confidence improves to -3.1 from -13.4Today:- U.S. trade balance (4:30 pm Dubai time), RCM/TIPP’s economic optimism (6 pm), API’s weekly energy inventory readings (12:30 am), FOMC member speaks, 3-year auction- German industrial production (10 am)