US Non-Farm Payrolls Drop 23k, Fed Hike Odds Fall to 44%

Weak US jobs data slashes Fed rate hike probability from 58% to 44%. Gold surges 7%, silver 10%, while DXY declines. Hormuz Strait framework and AI sector shifts noted.

Woofun AI reports that US non-farm payrolls unexpectedly declined by 23,000 in July, missing the 80,000 increase forecast, with prior months revised down by 103,000. Consequently, the probability of a Federal Reserve rate hike in September dropped from 58% to 44%. The DXY fell for a second week, while gold rose over 7% and silver gained more than 10% on safe-haven demand. Iran and Oman established a 60-day framework to reopen the Strait of Hormuz, pending Iranian approval.

Unitree Robotics priced its STAR Market IPO at 150.8 yuan per share, implying a 61 billion yuan market cap. SpaceX reported Q2 revenue of $7.8 billion, up 92% year-on-year, alongside $18 billion in capital expenditures. SanDisk and Western Digital stocks fell despite earnings beats due to valuation pressures. DeepSeek announced significant API price increases. Saudi Aramco's Q2 net profit rose 44% year-on-year. Google DeepMind restructured its core team, while OpenAI and Apple face legal disputes over AI talent.