π° Hourly Briefing | 2026-07-15 23:00 CST
Fed Chair Warsh testifies before Congress with a hawkish tilt: recent inflation data does not fully reflect underlying pressures, expects AI to push up observable price levels over the next 12 months. Dell (DELL) plunges 13%, the largest intraday drop since April 2025; SK Hynix ADR falls 11% as AI hardware sector faces broad selling pressure. Iran threatens an immediate response to U.S. strikes, yet WTI crude falls 1% below $79.
π Market Snapshot
- π₯ Gold (XAUUSD): 4062.56 (+0.24%), intraday range 4017-4074
- π’οΈ WTI Crude (USOIL): 78.33 (-1.05%), breaks below 79
- π Dell (DELL): -13%, largest intraday drop since April 2025
- π SK Hynix ADR: -11%
- π± EUR/GBP: falls below 0.85, first time since June 2025
π₯ Key News This Hour
ποΈ Fed Chair Warsh Testifies Before Congress
Warsh appeared at the semi-annual monetary policy hearing with several notable remarks:
- Recent inflation data does not perfectly reflect underlying inflation pressures; one-off price changes do not necessarily lead to inflation
- Expects AI to push up observable price levels over the next 12 months; AI’s impact on demand is arriving faster than on supply
- Cannot guarantee no job disruption from AI in the short term, but believes AI is a long-term job creator
- Corporate capital investment contributes enormously to GDP; prefers to see companies invest rather than buy back stock
- Has fully divested pre-chair assets, converted to cash equivalents and short-term Treasuries
π» Tech Stocks Hit Hard
Dell (DELL) dropped 13% intraday, the largest decline since April 2025; SK Hynix ADR fell 11%. AI hardware sector under broad pressure.
π Apple Seeking AI Chip Acquisitions
Sources say Apple has been in discussions with bankers in recent months about potential AI chip acquisitions to strengthen its in-house server chip capabilities.
βοΈ Iran Threatens Response to U.S. Strikes
Iran’s Army Ground Forces stated they will deliver a “clear and immediate” response at the appropriate time to the U.S. attack on a military camp in southeastern Iran. Earlier, U.S. Central Command announced it had completed a new round of strikes on Iran and resumed a maritime blockade.
π§ Situation Assessment
Warsh’s testimony struck a hawkish tone, explicitly stating that recent inflation data is imperfect and AI will push up prices, weakening market expectations for Fed rate cuts this year.
The tech sell-off resonates with Warsh’s preference for “investment over buybacks,” as AI hardware sector valuation pressure is releasing.
Iran tensions are escalating yet oil prices are falling β the market is currently more focused on demand-side weakness than supply risks, continuing the trend of OPEC+ pricing power erosion.
Gold stabilizing above 4060, with a tug-of-war between safe-haven demand and rate-cut expectations, currently leaning mildly bullish.
EUR/GBP breaking below 0.85 amid dollar strength, with continued outflows from UK equities β sterling assets facing structural selling pressure.
β° Upcoming Key Data
- Thursday (7/16): U.S. Initial Jobless Claims, July Philadelphia Fed Manufacturing Index
- Watch for further policy signals from Day 2 of Warsh’s testimony