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Monday, August 18

Noteworthy macro moves today: Ethereum -3.1%. Bitcoin -1.8%. Noteworthy US mega-cap moves today: UnitedHealth Group Inc (UNH) +2.6%.

Recent economic data has shown a mixed picture, particularly in the Eurozone where trade surplus figures for June narrowed significantly to €7 billion from €20.7 billion year-over-year, falling short of expectations. This decline was attributed to a 6.8% rise in imports while exports only edged up by 0.4%, indicating potential challenges ahead as demand dynamics shift.

In Canada, foreign investors increased their holdings of Canadian securities slightly more than anticipated during June despite rising long-dated yields and ongoing divestments from equities and money market instruments; this suggests some resilience within certain segments like corporate bonds amidst broader market fluctuations.

Market participants are closely monitoring geopolitical developments following the recent summit between U.S. President Trump and Russian President Putin that yielded no significant breakthroughs regarding Ukraine's conflict resolution but did lead to upcoming discussions involving European leaders aimed at negotiating peace terms with Ukrainian President Zelenskyy today. These talks could influence investor sentiment across various asset classes leading into key events such as Fed Chair Jerome Powell’s speech at Jackson Hole later this week.

Ethereum (ETH/USD) [-3.2%] Cryptocurrency markets are experiencing notable declines today, with Ethereum (ETH/USD) dropping alongside major coins such as Bitcoin (BTC/USD) due to intensified profit-taking activities. The newly launched ETHZilla Corporation, focusing on an Ethereum treasury strategy, began trading on NASDAQ with Ether holdings valued at approximately $419 million. Social media discussions reveal significant trading activities, including a trader who transformed $125K into nearly $30 million through leveraged ETH trades. Additionally, BlackRock's ETHA holds 3.49 million ETH, representing 58% of all Ethereum ETFs. The NFT market has seen a substantial valuation drop, shedding $1.2 billion amid a cooling ETH rally. Liquidations have surged, with over $56 million liquidated in the last hour alone. Ethereum has recorded a daily return of approximately -3.2%, reflecting broader market sentiment and correlated movements with Bitcoin's decline of nearly 2%.

Bitcoin (BTC/USD) [-1.8%]
Bitcoin's price has dropped significantly in the last twenty-four hours, falling below $116,000 amid rising difficulty levels for miners and a broader cryptocurrency sell-off. This decline coincides with heightened geopolitical tensions related to U.S.-Ukraine discussions. In the institutional arena, Norges Bank Investment Management has increased its bitcoin-equivalent exposure, while Metaplanet has acquired additional BTC, raising its total holdings to 18,888 BTC. Concurrently, Ethereum has experienced a notable decline, reflecting the overall market sentiment. Notably, Canary Capital's CEO has projected that Bitcoin could reach between $140,000 and $150,000 by year-end due to increasing institutional demand. Despite this optimism, there are concerns about a potential bear market in 2026.

INTC | -2.5% | -2.5B
Intel Corp | Semiconductors
Shares of Intel Corp. have declined by 2.5% as reports surface regarding potential government involvement in the company's future. Discussions are ongoing about the Trump administration acquiring a financial stake in Intel, aimed at enhancing domestic manufacturing, particularly for its Ohio factory hub project. This follows a week where Intel's stock surged significantly, driven by anticipation of this government engagement, which included discussions with the CEO about national security. Notably, the stock reached its highest trading volume since 1993 during this period. Concurrently, the Nasdaq 100 Index has seen a slight decrease of 0.11%, reflecting broader market sentiment that may be influencing Intel's recent price movements.

NVO | +3.0% | +5.4B
Novo Nordisk A/S | Pharmaceuticals
Novo Nordisk A/S's shares rose significantly following the U.S. FDA's approval of its weight-loss drug, Wegovy, for treating metabolic dysfunction-associated steatohepatitis (MASH). This approval marks Wegovy as the first GLP-1 therapy sanctioned for this liver condition, affecting about 5% of U.S. adults. The decision was based on favorable results from the ESSENCE trial, where 63% of patients showed MASH resolution without worsening fibrosis compared to 34% on placebo. Additionally, the FDA approved an extra indication for Wegovy for noncirrhotic MASH. Following this announcement, Novo Nordisk's stock price experienced an increase, reflecting positive market sentiment. Social media discussions highlighted the potential for significant revenue growth, estimating an annual addition of $4–6 billion, and suggested upward revisions of price targets for the stock. The approval also positions Novo Nordisk competitively against Eli Lilly in the pharmaceutical landscape.

UNH | +2.9% | +8.3B
UnitedHealth Group Inc | Managed Health Care
UnitedHealth Group Inc's shares have recently surged, benefiting from significant investments by notable figures such as Warren Buffett, Marjorie Taylor Greene, and Michael Burry. This uptick coincided with a substantial rise in the stock price, which increased dramatically on Friday, marking its largest single-day gain in over five years. Berkshire Hathaway's acquisition of a five million share stake has led to heightened retail buying activity, with $43 million in shares traded—the highest in three months. Currently, 19 out of 28 analysts rate UnitedHealth as a "buy" or higher, with a median price target of $321. Social media discussions reflect optimism around the stock, especially as it trades below its all-time high. Despite this positive momentum, the company has cautioned about impending billions in additional costs and remains a laggard in the Dow Jones Industrial Average for the year.

XPEV | +3.2% | +1.2B
Xpeng Inc | Automobile Manufacturers
Xpeng Inc. is set to report its Q2 2025 earnings on August 19, 2025, with a conference call scheduled for 8:00 AM. The company has achieved a year-to-date stock gain exceeding 65%. In a recent analyst note, BNP Paribas Exane initiated coverage with a Neutral rating and established a price target of 19.00. Meanwhile, Macquarie has maintained an Outperform rating, increasing its price target from 24.00 to 25.00. These developments coincide with expectations of a further narrowing in the company's net loss, attributed to record sales. Additionally, iQIYI Inc. has experienced a notable price increase, which may be influencing Xpeng's stock performance.

DUOL | +3.0% | +438.4M
Duolingo Inc | Education Services
Duolingo Inc. experienced notable movement in pre-market trading following several positive analyst actions. KeyBanc upgraded the stock to Overweight, establishing a price target of 460. Concurrently, Citi initiated coverage with a Buy rating and a price target of 400. These endorsements were highlighted in social media discussions, with analysts noting that anticipated AI innovations could enhance monetization and uncover new growth opportunities. The upgrades were reiterated in posts made approximately 12 hours apart, further amplifying the positive sentiment surrounding the company's market position.

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