📰 Hourly Briefing | 2026-08-10 20:00 CST

📰 Hourly Briefing | 2026-08-10 20:00 CST

📊 Market Snapshot

Gold trading in a narrow range with ~$48 intraday swing (4313-4362), slightly lower. WTI crude rebounding notably, up nearly $2 from the 77.0 low.

🔥 Key News This Hour

1. Intel Announces $15B Stock Offering, Pre-market Down 3%

Intel (INTC.O) announced a proposed $15B common stock offering to raise funds for general purposes including capital expenditures and working capital. Intel emphasized unprecedented investment in AI computing, calling AI progress a significant growth opportunity. Markets reacted negatively to dilution concerns, with pre-market losses widening to 3%.

2. White House Advisor Hassett Speaks Extensively: Would Hold or Cut Rates at the Fed

Hassett made multiple statements: (1) If at the Fed now, he would maintain rates or cut; (2) AI is perhaps the most important policy issue for the next two years, and the government is carefully studying AI safety; (3) Fed Chair Wash is “known for independence”; (4) Hopes Fed Governor Cook is indeed clean, but it’s a legal matter; (5) Will not replace Lisa Cook as Fed governor; (6) Yen stability helps prevent volatility spillover.

3. Jefferies Downgrades Apple to “Underperform”

Jefferies downgraded Apple (AAPL.O) from “Hold” to “Underperform,” cutting the price target from $285.56 to $263.66, implying ~16% downside from Friday’s close. The analyst believes AI-driven growth expectations are overly optimistic.

4. GME CEO Cohen Reportedly Considering Withdrawing $56B eBay Acquisition Bid

GameStop (GME.N) CEO Cohen is reportedly considering withdrawing the $56B acquisition offer for eBay. If withdrawn, this would significantly impact GME shares and the broader meme stock sector.

5. UK Approves Eli Lilly’s Weight Loss Drug FOUNDAY

The UK approved Eli Lilly’s (LLY.N) FOUNDAY for weight management and type 2 diabetes treatment, further expanding the global approval footprint of GLP-1 drugs.

6. Japan’s Economic Minister: Spending Plans to Support Yen Long-Term

Minister城内实 stated he doesn’t expect yen depreciation to continue, that increased investment will positively impact the yen, and that the BOJ is performing well on policy. He respects BOJ independence and the government’s stance is unchanged.

7. Brent Crack Spread Flashing Warning

Brent crude has fallen 30%+ from conflict highs, but US diesel retail prices remain elevated. The crack spread is now signaling an alarm. Tightening product supply could reverse into higher crude prices.

🧭 Assessment

Intel’s $15B raise is the biggest event this hour — markets reacted negatively to dilution, but Intel’s emphasis on AI investment commitment suggests short-term pressure with long-term execution risk.

Hassett’s “would hold or cut rates” comment continues the White House’s gentle policy lean, combined with “respecting Fed independence” language — this is mild pressure rather than direct intervention.

Jefferies’ Apple downgrade is noteworthy. If AI-narrative-driven valuation expansion starts cracking, it could trigger a tech stock chain reaction.

GME potentially withdrawing the eBay bid signals Cohen may be shifting to a more conservative strategy, which could cool meme stock sentiment.

WTI crude’s 3% rebound, combined with the crack spread warning, suggests product tightness could become a catalyst for the next leg higher in oil.

Gold is range-bound around 4330, directionless, awaiting this week’s US data (ADP, existing home sales) for guidance.

⏰ Upcoming Key Data

• 22:00 ⭐⭐ US July Conference Board Employment Trend Index (prev. 106.69)
• 23:30 ⭐ US 3-month/6-month T-bill auctions
• Tomorrow 07:01 ⭐⭐ UK July BRC Retail Sales
• Tomorrow 08:00 ⭐⭐ Singapore Q2 GDP (est. 5.9%)
• Tomorrow 12:30 ⭐⭐⭐ Australia RBA Rate Decision (est. 4.35% hold)
• Tomorrow 18:00 ⭐⭐⭐ US July NFIB Small Business Optimism Index
• Tomorrow 20:15 ⭐⭐⭐ US ADP Employment Weekly Change
• Tomorrow 22:00 ⭐⭐⭐ US July Existing Home Sales Annualized (est. 4.04M)