This report kicks off the week with what I’m keeping an eye on, including key levels for the QQQs and insights into the Mag 7 stocks that have my attention ahead of the start of 2026. It also features my watchlist, spotlighting the stocks I’ll be tracking at today’s open. Finally, I break down one swing trade ideas in detail.
Trump added another layer to the Fed story in a CNBC interview, saying incoming Fed Chair Kevin Warsh is dealing with a “hostile” board and suggesting some officials may want to “do the wrong thing” on policy. The comments appeared to give Warsh some political cover if rates do not move the way the White House wants, while also keeping pressure on the broader Fed board. Trump also renewed his criticism of Fed Governor Lisa Cook and argued that stronger growth can be “good” for inflation, reinforcing the administration’s view that the economy can expand without necessarily reigniting price pressure.
Saudi Arabia August OSPs: Arab Light crude oil to Asia set at USD -1.50/bbl to ICE Brent settlement, according to a pricing document
Taiwan Government’s China policy-making department says China’s missile launch into pacific heightens tensions in region
A fleet of 10 Japan-related ships have reportedly left the Strait of Hormuz, shipping data shows
AVGO - Broadcom to develop and supply a range of custom ASIC silicon products for use in multiple generations of Apple (AAPL) products
NVDA - Nvidia has named Anna Soellner, Reddit’s (RDDT) former vice president of communications, as head of corporate communications, according to Axios
IBM - Oak Ridge National Lab, Cleveland Clinic, and IBM Achieve First-Known Computations of Fusion Materials on a Quantum Computer/B of A Securities Maintains Buy on IBM, Raises Price Target to $330
SK Hynix (000660 SK) reportedly plans to offer 17.79mln common shares in its US IPO/reportedly plans to use the proceeds from its IPO for capital expenditures and EUV lithography scanners/SK Hynix’s US ADR listing is well oversubscribed
WULF - TeraWulf has entered into a definitive agreement to sell its 50.1% ownership interest in the Abernathy Joint Venture to an investor group led by its joint venture partner, Fluidstack
ARM - CEO says CPU demand is off the charts; thinks CPU demand is really going to take off because of the agent orchestration, scheduling and management
MSTR - Strategy Bitcoin holdings reduced by 3.588k to 843.775k
REGN - Regeneron expects Q2 acquired IPR&D charge of USD 127mln, will reduce GAAP and non-GAAP diluted EPS by c. USD 1.00; relates to up front and opt-in payments tied to collaboration and licensing agreements
SPCX - President Shotwell to gift share of Co. stock to a Trump account, according to reports
AMD - Goldman Sachs has increased its AMD price target from $450 to $640 and reaffirmed its buy rating.
OKTA - Scotiabank analyst Patrick Colville upgraded Okta to Outperform from Sector Perform with a $165 price target. Non-human identity management is the top priority among CISOs in the firm's fieldwork as Agentic AI is rolled out in enterprises, says the analyst, who views Okta as an AI beneficiary from a rising tide of cybersecurity spend as a result of Mythos preparedness as firms look to modernize their identity stack.
SLS - Alliance Global analyst James Molloy raised the firm’s price target on Sellas Life Sciences to $25 from $10 and keeps a Buy rating on the shares as the firm awaits the final two deaths in the ongoing Galinpepimut-S Phase 3 REGAL trial in acute myeloid leukemia patients achieving second complete remission. As opposed to normal in clinical trials, the firm regards an ongoing delay of the top-line data as a potentially significant positive as it suggests that patients are living longer than would be anticipated on Best Available Therapy in the CR2 AML setting, the analyst tells investors.
SMH - JPMorgan says the recent pullback in semiconductor stocks is a buying opportunity, arguing the AI-driven chip cycle remains strong and meaningful new supply is unlikely before 2028. The bank favors semiconductors over hyperscalers, expects global stocks to reach new highs in the second half of 2026, and sees market gains broadening beyond AI.
Market Focus
S&P 500 - The S&P 500 bounced after bottoming near 7,300, trending higher
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