Be in the know. 20 key reads for Friday…

  1. Hong Kong Stock ETFs Get Record China Money on AI, Biotech Craze (bloomberg)
  2. Alibaba Shares Surge on Increased AI Efforts (wsj)
  3. Alibaba releases record-setting next-generation Qwen3 model to cut costs by 90% (scmp)
  4. Amap, Alibaba’s answer to Google Maps, sees over 40 million users test new ranking service (scmp)
  5. Alibaba, Baidu begin using own chips to train AI models, The Information reports (reuters)
  6. BofA raises price target for Alibaba amid “robust” AI demand (investing)
  7. Bessent to Talk Trade, TikTok With Chinese Officials in Madrid (bloomberg)
  8. Record $1.5T buybacks may swell by another $600B: JPMorgan (streetinsider)
  9. US household net worth rebounds to record high in second quarter, Fed data shows (reuters)
  10. Mortgage Rates Are at an 11-Month Low. Will That Save This Housing Market? (wsj)
  11. Jacobs says QXO can thrive even as giants Home Depot and Lowe’s loom over deals (investing)
  12. QXO offers a peek behind the strategic curtain (hbsdealer)
  13. Treasury Yields Near 2025 Lows as More Fed Easing Is Priced In (bloomberg)
  14. US Initial Jobless Claims Jump to Highest in Almost Four Years (bloomberg)
  15. Morgan Stanley expects Fed to cut rates in all three meetings in 2025 (reuters)
  16. Trump Pushes to Remove Fed’s Lisa Cook Before Next Policy Meeting (barrons)
  17. Natural Gas Is Not A Bridge To Tomorrow. It’s The Superhighway Of The Future (zerohedge)
  18. From Retail To Restaurants: Goldman Names Ten Consumer Themes, Stocks To Track In Back-to-School Season (zerohedge)
  19. Crown Castle at Goldman Sachs Conference: Strategic Shift to U.S. Towers (investing)
  20. Boeing Falling Behind Certification Timeline for 777X Jet (bloomberg)