U.S. Payrolls Surprise to the Downside, September Fed Hike Odds Slip; Hormuz Reopening Plan Advances

BlockBeats reports that global markets digested a string of major developments this week. U.S. July nonfarm payrolls fell by 23,000, sharply missing expectations for an 80,000 increase. Revisions to May and June cut payroll totals by a combined 103,000. Rate expectations cooled quickly: markets marked down the probability of a Federal Reserve rate hike in September to about 44% from roughly 58%. The U.S. dollar index posted a second straight weekly decline. Gold jumped more than 7% on the week, supported by safe-haven demand and growing expectations of rate cuts, while silver surged over 10%. All three major U.S. equity benchmarks ended the week higher. In the Middle East, reports say Iran and Oman have reached a temporary framework aimed at reopening the Strait of Hormuz. The arrangement is expected to run for 60 days but still requires Iran's approval. The U.S. and Iran remain at odds over control of the waterway. Energy markets swung sharply: crude prices initially fell on hopes of de-escalation, then rebounded as supply risks returned to focus. Other market highlights: Yutu Technology priced its STAR Market (科创板) IPO at RMB 150.8 per share, implying an issued market capitalization of about RMB 61 billion. Offline investor subscriptions were 2,618 times covered. SpaceX released its first earnings report after its IPO, reporting Q2 revenue of $7.8 billion, up 92% year over year. Capital expenditures above $18 billion drew particular attention. SanDisk and Western Digital both beat earnings expectations, yet their shares sold off on valuation concerns, underscoring a "high growth + high expectations" phase for AI-related storage. DeepSeek said it plans to significantly raise API pricing, signaling a shift away from its low-cost strategy. Major global oil producers posted strong second-quarter profit growth. Saudi Aramco reported net profit up 44% year over year, even as Trump urged oil companies to cut gasoline prices. Wall Street firms are accelerating AI adoption in risk management, while also confronting rising exposure to AI-driven cyberattacks. Google DeepMind is restructuring its core team. Separately, legal disputes have surfaced between OpenAI and Apple over AI talent mobility, adding to the intensifying competition for AI engineers and researchers.