Tom Lee: AI and South Korea-related assets may be bottoming out, with downstream stocks starting to gain market attention.

Richmond Federal Reserve President Thomas Barkin said whether the interest rate level set by the Fed is sufficient to curb inflation remains an "open question," adding that he is uncertain whether he would vote in favor of a rate hike like the three other regional Fed presidents who backed the move in this week's vote. In a Friday interview, Barkin stated, "I think there are indeed good reasons to tighten policy and reverse some of the interest rate cuts implemented last year." Noting the slowdown in June inflation data, he added, "I would also argue... there is still time before the next meeting to assess whether the current policy stance is appropriate." Barkin will not participate in interest rate decision votes until next year. Additionally, he expressed skepticism about whether the labor market has strengthened significantly, saying, "I don't get the sense that the labor market is very tight." He also pointed out that the pass-through of price increases in the economy is uneven, making it difficult to determine how much inflation remains. (Jin10)

According to monitoring by Onchain Lens, a Fidelity-associated wallet has transferred 260,000 ETH to three wallets, valued at approximately $500 million. All three wallets were first funded by Fidelity six months ago. The funds are broken down as follows: · 95,000 ETH, valued at around $182.53 million; · 87,000 ETH, worth roughly $167.23 million; · 78,000 ETH, valued at approximately $149.79 million.

According to market data from BIT (bit.com), Apple Inc.'s stock price once extended its decline to 10%, marking the largest intraday drop since April 2025, as its Q4 revenue guidance fell short of expectations. The company's current market capitalization stands at $4.39 trillion. NVIDIA's stock rose 1.55% today, with its market cap reaching $4.797 trillion, surpassing Apple to once again become the world's most valuable company by market capitalization.

US President Trump discussed Iran, stating that an agreement can be reached.

Local time on July 31, the U.S. Central Command (CENTCOM) stated that "the Iranian government's renewed claim that it has closed the Strait of Hormuz is false." CENTCOM added that "the Strait of Hormuz remains open for merchant vessel traffic; Iran does not control the strait," noting that "thousands of ships have transited this international waterway over the past four months." Earlier on July 31, Iran's Persian Gulf Strait Administration issued a statement saying that due to the U.S. military's continued aggressive operations in the relevant waters, the Strait of Hormuz is currently not normally navigable. (Source: CCTV)

According to Fortune, NVIDIA CEO Jensen Huang told attendees at Y Combinator’s Startup School 2026 that the present is the best time in history to launch a company, advising young entrepreneurs not to overthink due to rapid technological shifts or fear of failure. When facing challenges, he suggested asking himself: “How hard can it be?” Huang emphasized that entrepreneurs don’t need all the answers from day one; the core is being willing to confront reality and continuously learn. In NVIDIA’s early days, the company bet on the wrong graphics technology. When the team lacked solutions, he purchased three technical textbooks and gave them to his engineers. He noted that as long as one retains a learning mindset, specific technologies themselves are not the most critical factor. That said, Huang doesn’t believe success comes easily. He revealed he still works seven days a week and has long worried about the company collapsing; this sense of vulnerability, uncertainty, and insecurity has never faded. His advice: don’t imagine all difficulties in advance, lest anxiety derail action, but let challenges arise gradually and solve them one by one. Data shows U.S. business applications hit a record 3.23 million in the first half of 2026, up 12.1% year-over-year. However, startup risks remain high: U.S. Bureau of Labor Statistics data indicates nearly half of businesses cease operations within five years of launch.