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   Daily 2026-07-08
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                       All metrics are as of the latest market close.
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                         <td class="s22">
                          S&amp;P 500
                         </td>
                         <td class="s23">
                          0.29% ▼
                         </td>
                         <td class="s24">
                          7,482
                         </td>
                        </tr>
                        <tr>
                         <td class="s22">
                          GOLD
                         </td>
                         <td class="s23">
                          1.71% ▼
                         </td>
                         <td class="s24">
                          $4,086
                         </td>
                        </tr>
                        <tr>
                         <td class="s22">
                          BITCOIN*
                         </td>
                         <td class="s23">
                          1.74% ▼
                         </td>
                         <td class="s24">
                          $62,216
                         </td>
                        </tr>
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                         <td colspan="3" style="font-size:10px;font-family:Trispace,monospace;color:#7F879C;padding:0">
                          *24-hour change
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                         <td class="s22">
                          FTSE 100
                         </td>
                         <td class="s23">
                          1.85% ▼
                         </td>
                         <td class="s24">
                          10,469
                         </td>
                        </tr>
                        <tr>
                         <td class="s22">
                          BRENT OIL
                         </td>
                         <td style="font-size:12px;color:#16B166;font-weight:500;font-family:Trispace,monospace;width:30%;vertical-align:baseline;padding:10px 0 0 0">
                          6.69% ▲
                         </td>
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                          $79.12
                         </td>
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                         <td class="s22">
                          US BONDS*
                         </td>
                         <td class="s23">
                          0.01% ▲
                         </td>
                         <td class="s24">
                          4.56%
                         </td>
                        </tr>
                        <tr>
                         <td colspan="3" style="font-size:10px;font-family:Trispace,monospace;color:#7F879C;padding:0">
                          *10-year government yield
                         </td>
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                 <div style="font-family:Inter,sans-serif;font-size:14px;font-weight:700;line-height:1.5;text-align:left;color:#181c25;">
                  WALL STREET FEAR GAUGE INDEX 
(
                  <a style="font-weight:400;font-family:Trispace,monospace">
                   VIX
                  </a>
                  )
                 </div>
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                     <img alt="Wall Street Fear Gauge Index" class="s12" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fimages.bannerbear.com%252Fdirect%252F7Q4rjJzQn7vZo8qPOx%252Frequests%252F000%252F152%252F264%252F048%252Fw0gWbdEPaYagrkxp6rVklOA5j%252F70980db88c700be07fbf40e1c495704ccb20cdc2.png%253Fauto%253Dformat%2526fit%253Dclip%2526h%253DNone%2526ixlib%253Dpython-3.1.2%2526w%253D1200%2526s%253De9c99d373686d8787a09b8a619af9d6d/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3ODM1NDgxOTYuNjI0ODQ2Mn0:1whaMO:i-UKiFT2_he-9jXLwuJ89YRwd9pdh1SlKl9GVt679yA" width="536"/>
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                      <div class="s29">
                       <p data-block-key="10zqs">
                        🐻 South Korea’s index fell into a bear market
                       </p>
                       <p data-block-key="9m9o5">
                        <b>
                         💪 FOR PRO MEMBERS:
                        </b>
                        In this market, it might pay to throw your weight around
                       </p>
                       <p data-block-key="72q8p">
                        🛢️ With the US-Iran ceasefire over, oil
prices climbed
                       </p>
                       <p data-block-key="bvg40">
                        <b>
                         👇 Keep reading to find out more
                        </b>
                       </p>
                      </div>
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                     👀
                    </span>
                    <span class="s19">
                     Today's headlines
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                  <div class="s31">
                   <mj-raw>
                    <span class="s32">
                     Bear Trap
                    </span>
                   </mj-raw>
                  </div>
                 </td>
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                       <img alt="Bear Trap" class="s12" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fchivas-assets.s3-eu-west-1.amazonaws.com%252Fstatic%252Fimages%252FEditorial-080726-Korea.original.jpg%253Fauto%253Dformat%2526fit%253Dcrop%2526h%253D600%2526ixlib%253Dpython-3.1.2%2526w%253D1200%2526s%253Daa190c1b86cb1ee4a8c8e0bed7400a01/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3ODM1NDgxOTYuNjI1MDIzOH0:1whaMO:eLQEV1o5GCX-RVCnr9zuYlvizsVT8nIzNt6bWne1_oA" width="568"/>
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                  <div class="s29">
                   <p data-block-key="n4a5g">
                    <b>
                     What’s going on here?
                    </b>
                   </p>
                   <p data-block-key="afjvh">
                    South Korea’s key stock market index, the Kospi, ended Wednesday in the jaws of a full-grown bear market.
                   </p>
                   <p data-block-key="bn3bv">
                    <b>
                     What does this mean?
                    </b>
                   </p>
                   <p data-block-key="f5f14">
                    An index is in a bear market when its value is falling – swiping down, like a bear’s paw, not thrusting up, like a bull’s horns – specifically, when it’s dropped at
least 20% from a recent peak. So the Kospi’s 20.5% slide from its June high puts it officially in bear territory.
                   </p>
                   <p data-block-key="e3umo">
                    ▶ Even with the drop, the Kospi is up over 130% in the past year – and it’s been smashing record after record along the way. That’s largely been down to the success of its two dominant companies,
                    <b>
                     Samsung Electronics
                    </b>
                    and
                    <b>
                     SK Hynix
                    </b>
                    . Together, they represent some 64% of the index, so their fortunes have a big effect on it overall.
                   </p>
                   <p data-block-key="3ilub">
                    🔻 Both companies make the chips that tech firms have been gobbling up in the AI build-out. But growing skepticism about that seemingly endless spending – coupled with some investors getting out while the getting is good – has sent their shares down. Samsung has dropped more than 20% and SK Hynix almost 30% since that June high.
                   </p>
                   <p data-block-key="ej84n">
                    <b>
                     Why should I care?
                    </b>
                   </p>
                   <p data-block-key="7h3q5">
                    <b>
                     <i>
                      For you personally:
                     </i>
                    </b>
                    <i>
                     This dip or that.
                    </i>
                   </p>
                   <p data-block-key="60tuj">
                    Over the past six years or so, buying the dip in stock markets has generally been a winning strategy. So if you’re optimistic that AI spending will continue, then a South Korean bear market might make an attractive entry point. Then again, bear markets can drag on. Plus, with the lofty expectations around AI and AI-adjacent companies these days, even better-than-expected results aren’t necessarily good enough
(
                    <a>
                     just ask Samsung
                    </a>
                    ).
                   </p>
                   <p data-block-key="8qonp">
                    ▶ Some investors bought a different dip on Wednesday: Chinese internet stocks. They’re down 25% so far this year and attracting folks who see them as a cheaper way to buy into the AI megatrend. Case in point: shares of
                    <b>
                     Alibaba
                    </b>
                    – China’s answer to
                    <b>
                     Amazon
                    </b>
                    , complete with AI ambitions – were initially up 9%.
                   </p>
                  </div>
                 </td>
                </tr>
                <tr>
                 <td align="left" class="s5">
                  <div style="font-family:Inter,sans-serif;font-size:14px;font-weight:bold;line-height:1.5;text-align:left;color:#000000;">
                   You might also like ⇢
                   <a>
                    How Chinese AI could spoil the party for OpenAI and Anthropic
                   </a>
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                     📈
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                    <span class="s19">
                     Chart Of The Day
                    </span>
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                     To Catch The S&amp;P 500’s Next Gains, Throw Your Weight Around
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                   <p data-block-key="pr7ai">
                    For years, the easiest way to
                    <a>
                     win in US stocks
                    </a>
                    has been to own the biggest names and let them do all the work.
                   </p>
                   <p data-block-key="fpsl6">
                    But the
                    <a>
                     market’s next phase
                    </a>
                    won’t necessarily be like the last one.
                   </p>
                   <p data-block-key="c8bls">
                    Earnings growth has
                    <a>
                     started to broaden
                    </a>
                    , inflation pressure has cooled, and interest-rate expectations don’t seem as hostile as they did just a few months ago.
                   </p>
                   <p data-block-key="9gten">
                    And now you might finally have a reason to look past the mega-cap tech trade and give the
                    <a>
                     rest of the S&amp;P 500
                    </a>
                    a long, attentive look.
                   </p>
                   <p data-block-key="df8h3">
                    That’s today’s Research:
                    <a>
                     why an equal-weight S&amp;P 500 ETF – and a Japan trade with the same spirit – could be a smarter play for a tech rotation
                    </a>
                    .
                   </p>
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                   <mj-raw>
                    <span class="s32">
                     Déjà Vu All Over Again
                    </span>
                   </mj-raw>
                  </div>
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                 <td align="center" class="s5">
                  <table border="0" cellpadding="0" cellspacing="0" class="s10" role="presentation">
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                 <td align="left" class="s5">
                  <div class="s29">
                   <p data-block-key="navs4">
                    <b>
                     What’s going on here?
                    </b>
                   </p>
                   <p data-block-key="rg1n">
                    Oil prices shot back up on Wednesday after a string of clashes between the US and Iran.
                   </p>
                   <p data-block-key="dat2r">
                    <b>
                     What does this mean?
                    </b>
                   </p>
                   <p data-block-key="b1d4p">
                    Well, it was great while it lasted. On Tuesday, Iran launched attacks on oil tankers in the Strait of Hormuz, and the US retaliated with fresh strikes and reinstated sanctions on
Iranian oil.
                   </p>
                   <p data-block-key="8vfm1">
                    🔺 As tensions climbed, so did the price of oil. Brent crude, the international benchmark, jumped 7% on Wednesday to $79. That’s still well below April’s $126 peak, but it’s about 10% higher than earlier this month.
                   </p>
                   <p data-block-key="8ja6v">
                    🔻 Unsurprisingly, global stocks and bonds fell. After a nearly two-month reprieve from geopolitical chaos and oil swings, investors are once again facing the threat of higher interest rates, sticky inflation, and
supply chain snarls.
                   </p>
                   <p data-block-key="432lc">
                    <b>
                     Why should I care?
                    </b>
                   </p>
                   <p data-block-key="avl99">
                    <b>
                     <i>
                      For markets:
                     </i>
                    </b>
                    <i>
                     Any port in a storm.
                    </i>
                   </p>
                   <p data-block-key="feo5t">
                    While other industries are suffering, higher oil prices have been a windfall for energy-related companies. With earnings season kicking off, the sector is expecting a
                    <i>
                     122%
                    </i>
                    rise in profit compared to the same period last year – nearly double the tech sector's predicted 63% rise.
                   </p>
                   <p data-block-key="36pok">
                    🔺 Two of the oil majors,
                    <b>
                     Shell
                    </b>
                    and
                    <b>
                     ExxonMobil
                    </b>
                    , said on Tuesday that their second-quarter profits should beat analysts’ forecasts.
                   </p>
                   <p data-block-key="a9vk4">
                    <b>
                     <i>
                      The bigger picture:
                     </i>
                    </b>
                    <i>
                     Happy earnings, happy stocks.
                    </i>
                   </p>
                   <p data-block-key="bctdb">
                    It’s the basic math of investing: as companies make more money, investors are usually
(
                    <a>
                     <i>
                      usually
                     </i>
                    </a>
                    ) willing to pay more for them. And expectations are punchy for this past quarter: S&amp;P 500 companies are predicted to post 23.3% earnings growth over last year. If that turns out to be accurate, it’ll mark the seventh straight quarter of double-digit gains.
                   </p>
                   <p data-block-key="tmdt">
                    🔺 Looking forward, analysts see earnings growth above 20% in the third and fourth quarters of this year, too. Of course, that’s figuring
                    <i>
                     without
                    </i>
                    another prolonged escalation in the Middle East…
                   </p>
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                     ✨
                    </span>
                    <span class="s19">
                     ​​​​​​​​​​​​​​​​​​​​​​​​​Sarah's Digest
                    </span>
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                   What others like you are reading today...
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                   🤝
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                    Apple And Broadcom Strike A $30 Billion US Chip Deal
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                 </td>
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                <tr>
                 <td align="left" class="s5">
                  <div class="s35">
                   Apple’s pact runs through 2031 and includes a $1.5 billion Broadcom factory expansion in Fort Collins, Colorado.
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                  <div class="s29">
                   ✂
                   <a>
                    IMF Trimmed Its 2026 Growth Outlook As Middle East Risks Rise
                   </a>
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                <tr>
                 <td align="left" class="s5">
                  <div class="s35">
                   The IMF now sees 2026 global growth at 3.1% as Iran-related disruption, especially through energy prices, drags on most regions — with harsher scenarios hitting emerging markets hardest.
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                </tr>
                <tr>
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                  <div class="s29">
                   🛒
                   <a>
                    Tesco Weighs A Sale Of Its Central Europe Business
                   </a>
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                   The UK grocer is working with bankers on options for its Czech Republic, Hungary, and Slovakia operations, which generated about 4% of profit in 2025-26.
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                   👓
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                    Meta Tests “Super Sensing” AI Glasses With Subtler Recording Cues
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                 <td align="left" class="s5">
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                   The Financial Times reports Meta is piloting camera-and-audio features that may not trigger the usual LED indicator and could roll out via software updates.
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                     🖋️
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                     Quote of the day
                    </span>
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                   <strong>
                    "In bear markets, stocks return to their rightful owners."
                   </strong>
                   – J.P. Morgan (an American financier)
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<![endif]-->
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                     🎯
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                     On Our Radar
                    </span>
                   </mj-raw>
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                       <p data-block-key="aaghi">
                        <b>
                         1. Nukes in space.
                        </b>
                        A nuclear weapon could already be orbiting Earth – and this scientist is
                        <a>
                         going to find it
                        </a>
                        .
                       </p>
                       <p data-block-key="4bvjl">
                        <b>
                         2. Are you going to eat that?
                        </b>
                        How our obsession with food is
                        <a>
                         ruining romantic relationships
                        </a>
                        .
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                       <p data-block-key="40j4u">
                        <b>
                         3. Justice for Ruth.
                        </b>
                        The last woman
executed in Britain
                        <a>
                         pardoned
                        </a>
                        .
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              Stay classy, Sarah 😉 This issue of the Daily Brief was curated by
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              ,
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              . Got an idea? A question?
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               Get in touch
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                     💌
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                     THAT WAS GREAT FOR US... HOW WAS IT FOR YOU?
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                  Hot stuff
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                  Just alright
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