BlockBeats News, August 8th. This week, the global market witnessed several major events. The U.S. non-farm payrolls for July unexpectedly decreased by 23,000, far below the market's expectation of an 80,000 increase. Moreover, the combined May and June employment data was revised down by 103,000, leading to a significant reduction in the market's expectations of a Fed rate hike. The probability of a rate hike in September dropped from about 58% to 44%. The U.S. dollar index fell for the second consecutive week, while gold rose over 7% this week due to safe-haven demand and rate cut expectations. Silver surged over 10%, and all three major U.S. stock indexes posted gains.

On the Middle East front, it was reported that Iran and Oman have reached a temporary agreement to reopen the Strait of Hormuz. The agreement is expected to last for 60 days, but it still requires Iran's approval. Both the U.S. and Iran still hold diverging views on control of the strait. The energy market experienced intense fluctuations as oil prices initially fell on de-escalation expectations but later rebounded due to supply risks.

Regarding market highlights, YuTree Technology's Sci-Tech Innovation Board IPO was priced at 150.8 yuan per share, with an estimated market capitalization of about 61 billion yuan. The oversubscription ratio in the offline subscription reached 2,618 times. SpaceX's first post-listing financial report revealed a second-quarter revenue of $7.8 billion, a 92% year-on-year increase. However, concerns were raised in the market due to over $18 billion in capital expenditures. While SanDisk and Western Digital's earnings reports exceeded expectations, their stock prices plummeted due to valuation pressure, signaling that the AI storage industry has entered a phase of "high growth + high expectations."

In addition, DeepSeek announced plans to significantly raise API prices, marking an adjustment to its low-cost strategy. Global oil companies saw a substantial increase in second-quarter profits. Saudi Aramco's net profit grew by 44% year-on-year, but President Trump demanded that oil companies lower gasoline prices. Wall Street institutions are accelerating the use of AI for risk management while facing AI-driven cyber attack risks. Google DeepMind's core team underwent restructuring, OpenAI and Apple engaged in a legal dispute over AI talent poaching, further intensifying the competition for AI talent.