π° Hourly Briefing | 2026-08-10 14:00 CST
TSMC July revenue surges 44.7% YoY; JPMorgan raises S&P 500 year-end target to 8000; Ukraine drones strike Nizhnekamsk, Russia; Kazakhstan diverts oil exports amid CPC pipeline disruption.
π Market Snapshot
| Asset | Last | Change | % Change |
|---|---|---|---|
| Gold (XAUUSD) | 4,347.92 | -6.81 | -0.16% |
| WTI Crude (USOIL) | 77.122 | -0.772 | -1.01% |
Gold trading in a narrow range between 4,313β4,352, holding steady. Crude oil extends weakness, falling below the 77.7 open as Middle East tensions ease for now.
π₯ Key News This Hour
1. TSMC July Revenue Surges 44.7% YoY
TSMC reported July revenue of NT$467.58B, up 5.6% MoM and 44.7% YoY. Cumulative Jan-Jul revenue reached NT$2,872.06B, up 37% YoY. AI chip demand continues to drive strong growth. Taiwan Weighted Index closed up 1.59% at 44,928.
2. JPMorgan Raises S&P 500 Year-End Target to 8000
JPMorgan raised its S&P 500 year-end target to 8000 (vs. last Friday’s close of 7,757), citing strong corporate earnings and signs that AI investments by major cloud providers are about to translate into faster revenue growth.
3. Ukraine Drone Strike Hits Nizhnekamsk, Russia
Per Interfax, Russia’s Nizhnekamsk was hit by a massive Ukrainian drone attack, causing casualties and damaging industrial and civilian infrastructure. Geopolitical risk in the Russia-Ukraine theater remains elevated.
4. Kazakhstan Diverts Oil Exports Amid CPC Pipeline Disruption
Kazakhstan diverted some oil exports in July due to CPC pipeline operational disruption. It is now considering BTC, Baku-Supsa, and Trans-Caspian routes as alternative export corridors.
5. India Central Bank Suspected of FX Intervention
Traders report the RBI may be selling dollars to support the rupee, which traded at 95.2275. The central bank has intervened frequently in recent sessions amid Middle East uncertainty.
6. Switzerland Rate Hike Expectations Pushed to June 2026
Economists delayed their expectation for a Swiss National Bank rate hike to June 2026 at the earliest, previously expecting a move this year.
π§ Assessment
TSMC’s July revenue data confirms that AI compute demand remains robust, with no signs of semiconductor cycle slowdown.
JPMorgan’s S&P 500 target hike to 8000 signals continued Wall Street confidence in AI-driven earnings growth.
However, the Russia-Ukraine situation is flaring up again with a massive drone strike on Nizhnekamsk, which could lift geopolitical risk premiums.
CPC pipeline disruption is pushing Kazakhstan to divert exports, and combined with Middle East uncertainty, crude supply faces headwinds β though current weak oil prices suggest the market has not fully priced this in.
Gold is in a high-level stalemate around 4,350, with no clear short-term direction.
In A-shares, trading volume has exceeded 2 trillion yuan for 5 consecutive days, but the Shanghai Composite turned lower in the afternoon. Cambricon saw 20B+ yuan in turnover yet fell over 6%, highlighting intensifying divergence in the AI sector.