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Monday, July 21

Noteworthy macro moves today: Gold +1.1%. US 10Y Treasury Bond +0.3%. US Dollar Index -0.5%. 

Recent developments in global markets are heavily influenced by ongoing trade tensions, particularly between the United States and the European Union. U.S. Commerce Secretary Howard Lutnick emphasized that August 1 is a "hard deadline" for new tariffs to take effect unless an agreement is reached with EU leaders, who are preparing countermeasures against potential U.S. tariff increases on imports.

In economic data releases, Canada's industrial producer prices rose unexpectedly by 0.4% month-over-month in June, driven largely by significant gains in non-ferrous metal products including platinum group metals which surged notably during this period. This rebound contrasts sharply with previous declines and suggests resilience within certain sectors of Canada’s economy amidst broader inflationary pressures linked to international trade dynamics.

Additionally, Japan's political landscape has shifted following recent elections where Prime Minister Shigeru Ishiba's ruling coalition lost its majority control over the upper house; however, he remains committed to his position amid concerns about upcoming negotiations related to U.S.-imposed tariffs on Japanese goods such as automobiles and electronics—key exports for Japan facing increased scrutiny from Washington ahead of looming deadlines.

SPDR Gold Shares (GLD) [+1.1%]
SPDR Gold Shares (GLD) has experienced a price increase of 1.1% since Friday. Recent discussions on social media reflect notable interest in GLD, with users highlighting its strong performance this year and suggesting it is poised for further gains. Additionally, gold prices have risen today amid economic uncertainty and lower interest rates, which are driving safe-haven demand. The recent signing of the GENIUS Act by President Trump has established clearer guidelines for stablecoin issuers, potentially enhancing institutional confidence in digital assets linked to traditional finance. This backdrop may contribute to increased volatility and investment flows into gold as a hedge against market fluctuations.

Bitcoin (BTC/USD) [+0.8%]
Bitcoin's price has increased following President Trump's signing of the GENIUS Act, which introduces guidelines for stablecoin issuers to maintain reserves tied to USD values. This regulatory clarity is anticipated to enhance institutional engagement with digital assets like Bitcoin. Additionally, Aether Holdings announced a $40 million public offering aimed at acquiring Bitcoin for its treasury, further supporting demand. Social media discussions highlight Tom Lee from Fundstrat projecting Bitcoin could exceed $1 million per coin in the coming years. Sequans has increased its Bitcoin holdings by acquiring an additional 1,264 BTC, bringing its total to 2,317 BTC. Moreover, Bitcoin's dominance rate has seen its largest decline since June 2022 as attention shifts to the broader market. Notably, crypto funds recorded an all-time high of $4.39 billion in weekly inflows, with Bitcoin attracting $2.2 billion. Coinbase has also launched U.S. Perpetual-Style Futures for Bitcoin and Ethereum today.

XYZ | +9.5% | +4.7B
Block Inc | Transaction & Payment Processing Services
Block Inc is set to join the S&P 500 index, replacing Hess Corp, effective July 23. This announcement has prompted a significant surge in Block's stock price, with increases reported during after-hours trading. The company, founded by Jack Dorsey, holds substantial Bitcoin assets exceeding $1 billion, which constitutes nearly 6% of its total market capitalization. Block plans to allocate 10% of its monthly Bitcoin-related gross profit for acquisitions. Baird has upgraded Block's price target to $84 from $76 while maintaining an Outperform rating. Social media discussions reflect a positive sentiment surrounding this milestone, highlighting the potential for increased passive investment flows due to the index inclusion and noting a boost in transaction volume for Cash App attributed to new features.

RYAAY | +5.3% | +3.6B
Ryanair Holdings PLC | Passenger Airlines
Ryanair Holdings PLC reported its quarterly earnings today, revealing adjusted earnings per share of 1.74 for the quarter ended June 30, significantly surpassing analysts' expectations of 1.40 per share. Revenue increased by 26% year-over-year to 4.92 billion, exceeding the anticipated 4.56 billion. The company announced a net income of approximately 929 million for the quarter. Despite a decline in shares this quarter, Ryanair's stock has appreciated notably year-to-date. The average analyst rating remains a "strong buy," with a median 12-month price target set at 62.50, about 10% above its last closing price of 56.15. Additionally, Ryanair maintained its FY26 traffic forecast at 206 million passengers amid challenges such as delayed Boeing deliveries and tariff risks. Conversations on social media have noted an expected earnings report of 1.49 for Q1 2026, alongside a price target from Raymond James at 70.00.

VZ | +4.4% | +7.9B
Verizon Communications Inc | Integrated Telecommunication Services
Verizon Communications Inc reported strong second-quarter results, with adjusted earnings per share (EPS) of 1.22, exceeding the analyst estimate of 1.19. Revenue reached 34.5 billion, surpassing the expected 33.57 billion. The company noted a 6.9% increase in consumer revenue to 26.6 billion and a consolidated adjusted EBITDA of 12.8 billion. Additionally, Verizon achieved 293,000 broadband net additions during the quarter, bringing its total broadband connections to over 12.9 million, a year-over-year increase of 12.2%. The company raised its full-year guidance for adjusted EBITDA growth to a range of 2.5% to 3.5% and adjusted EPS growth to between 1% and 3%. Social media discussions highlighted these results, noting that both operating revenue and business revenue exceeded estimates, contributing to an upward movement in Verizon's share price.

DPZ | +3.7% | +619.4M
Domino's Pizza Inc | Restaurants
Domino's Pizza Inc. reported its second quarter earnings today, revealing a GAAP earnings per share (EPS) of 3.81, falling short of the analyst estimate of 3.94 by 0.13. Revenue matched expectations at 1.15 billion, reflecting a year-over-year increase of 4.3%. The company's net income declined to 131.09 million from 141.98 million in the prior year. U.S. same-store sales rose by 3.4%, exceeding the forecast of 2.21%, while international same-store sales increased by 2.4%, surpassing the expected 1.71% growth. Additionally, Domino's declared a quarterly dividend of 1.74 per share, payable on September 30. Following the earnings announcement, the stock experienced a price increase of approximately 3%.

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