π° Hourly Briefing | 2026-07-26 12:00 CST
Trump urges GOP senators to end filibuster and pass the Save America Act, budget, and debt ceiling; Jensen Huang says China is destined to produce excellent AI, NVIDIA's open-weight model letter gains 50 signatories including Google; Kazakhstan's president publicly urges Putin to freeze the Ukraine conflict, Ukrainian drones strike Russian Tyumen refinery.
π Market Snapshot
| Asset | Price | Change | Notes |
|---|---|---|---|
| Spot Gold (XAUUSD) | 4053.38 | +0.11% | Friday close, holding above 4000 |
| WTI Crude (USOIL) | 90.89 | -2.05% | Friday pullback, partial de-escalation of geopolitical premium |
Markets closed Sunday. Data reflects Friday (7/25) close.
π₯ Key News This Hour
Trump Pushes GOP to Pass Save America Act (11:49) Trump called on all Republican senators to end the filibuster and quickly pass the Save America Act, the budget, and the upcoming debt ceiling. A Sunday tweet suggests Congress may enter an accelerated agenda this week.
Jensen Huang: China Destined to Produce Excellent AI (11:39) NVIDIA CEO Jensen Huang stated in a foreign media interview that China is destined to produce excellent AI technology and that the world should continue learning from and cooperating with them. The same day, NVIDIA’s “Open Weight Model” open letter doubled its signatories to 50, with Google among the new joiners.
Korean Tech Titans Visit NVIDIA HQ (09:54) Samsung Electronics Chairman Lee Jae-yong, Hyundai Motor Group Chairman Chung Eui-sun, and Naver founder Lee Hae-jin met with Jensen Huang. Korean retail ETF net buying approaches 70 trillion won, as AI theme enthusiasm spills over to Korean equities.
Kazakhstan President Urges Putin to Freeze Ukraine Conflict (10:16) President Tokayev publicly called for freezing the Ukraine war and restarting the 2022 Istanbul peace talks during a meeting with Putin in Siberia. This is a rare public peace appeal from one of Moscow’s closest partners.
Ukrainian Drone Strike Hits Russian Tyumen Refinery (10:18) A Ukrainian drone attack set the Tyumen refinery in Russia’s Ural region on fire. Ukraine is simultaneously seeking a 30-year strategic energy deal with Canada focused on LNG supply.
Australia PM to Challenge Trump on New Tariffs (09:58) Prime Minister Albanese said he will raise the tariff issue with President Trump, with the Labor government calling the new duties unjustified.
π§ Market Assessment
Gold’s 4000 support remains solid, but this week’s super central bank week (Fed + BOE + BOJ) is the biggest variable. A hawkish signal from Warsh could push gold back to the 3950-3980 range.
WTI crude pulled back below 91 on Friday, but the Tyumen refinery attack shows Russia-Ukraine energy infrastructure strikes continue to escalate β supply-side risk is not off the table. JPMorgan previously warned that each month the Iran conflict drags on could add $7-8 to oil prices.
Trump’s rare Sunday pressure on Congress β debt ceiling, budget, and the Save America Act all at once β means Washington political noise will rise significantly this week, creating near-term volatility for Treasuries and the dollar.
The AI narrative continues to strengthen β Jensen Huang publicly affirming China’s AI capabilities, the open-weight model coalition expanding to 50 (Google now included), and Korean chaebol leaders making a pilgrimage to NVIDIA. But BofA warns the market is ignoring risks, with uncertainty around tech giants’ AI investment returns rising.
β° Key Data Ahead
This Week (7/27-8/1) Highlights:
- π¦ FOMC Rate Decision β Market watching for hawkish pivot from Warsh
- π¦ BOE & BOJ Decisions β Three major central banks in one week
- π US Core PCE Price Index β Inflation litmus test
- π Eurozone CPI β European inflation trajectory
- π Apple, Microsoft, Meta, Amazon Earnings β Tech giant AI ROI stress test