BlockBeats News, July 26th, a surge in energy prices, the US imposing new tariffs, and a sharp increase in AI capital expenditure have once again raised global investors' concerns about inflation. Brent crude oil broke through $100 for the first time in two months, retreated to $98.38 per barrel at the end of the week, still up nearly 12% for the week. The market expects the Fed, Bank of England, and Bank of Japan to keep interest rates unchanged next week, but the federal funds rate futures show a 35% probability of a 25 basis point rate hike by the Fed next week, with a September rate hike already fully priced in.

On the macro front, the Fed, Bank of England, and Bank of Japan will successively announce interest rate decisions next week, and key data such as US GDP for the second quarter, June core PCE, Eurozone GDP for the second quarter, and July CPI will also be released. The key release schedule is as follows:

Tuesday 20:15, US ADP Employment Change for the week ending July 11.

Thursday 02:00, Fed FOMC announces interest rate decision; 02:30, Fed Chair Powell holds a monetary policy press conference; 19:00, Bank of England announces interest rate decision, meeting minutes, and monetary policy report; 20:30, US Initial Jobless Claims, June Core PCE, Personal Spending, and GDP for the second quarter are released.

Friday, Bank of Japan announces interest rate decision and Economic Outlook Report, exact time TBD; 14:30, Bank of Japan Governor Kuroda holds a press conference; 22:00, US University of Michigan Consumer Sentiment Index and one-year inflation rate expectations final value for July.

Meanwhile, SK Hynix will announce its Q2 earnings report on July 29th at 8:00, Meta, Microsoft, Robinhood, Qualcomm, and Arm will report earnings after the US stock market closes on Wednesday, and Apple, Amazon, Coinbase, Reddit, and Roblox will report earnings after the US stock market closes on Thursday.

Investors will focus on the AI capital expenditure and investment returns of tech giants. Alphabet has already raised its capital expenditure outlook for this year to $205 billion, and concerns about related expenditures and negative free cash flow have sparked market concerns.