DAILY FINANCE · AUG 2701
Today's main thread

Strong earnings
raise the rate hurdle

Private demand, core inflation and AI results leave little room for a rapid policy pivot.

In one line: GDP grew only 1.5%, but private demand was revised to 4.2%; core PCE stayed at 3.3%, and next-quarter chip revenue guidance reached $108 billion.
1.5%
U.S. Q2 GDP · annualized
4.2%
Private final demand
3.3%
July core PCE · year over year
$108B
Next-quarter chip revenue outlook
Counter-risk: GDP will be revised and real consumption nearly stalled. If jobs weaken further, today's resilience may prove backward-looking.
Facts through 07:10 ETNot investment advice
DAILY FINANCE · AUG 2702
Macro and central banks

Asia hikes:
growth becomes a constraint

Strong chip exports and recovering demand pushed the Bank of Korea to tighten again as housing leverage rose.

3.00%
Korean Base Rate · +25bp
6 : 1
Policy vote
3.3%
2026 growth forecast · was 2.6%
2.5%
2026-27 core inflation forecast
GrowthChip exports, investment and consumption beat the May outlook.
InflationJuly headline was 2.8%; core increased to 2.6%.
StabilitySeoul-area housing and household lending remain strong.
Counter-risk: One member dissented. A reversal in oil, foreign exchange or the chip cycle could slow further tightening.
Facts and inference separatedNot investment advice
DAILY FINANCE · AUG 2703
Markets and industries

AI cleared the bar
markets did not rally together

Demand confirmation lifted direct suppliers; Europe and low-tech indexes still faced growth, energy and rate pressure.

$96.2B
Quarterly revenue · +106%
$89.0B
Data Center revenue · +117%
+1.5%
Kospi
−0.8%
CAC 40 · early trading
Supply chainKorea +1.5%, Taiwan +0.5%, chip leader about +7.2% premarket.
Next testAbout 74% margin, China gap and third-party financing quality.
ChinaIndustrial profit +17.6%; electronics +110%, autos −20.4%.
Counter-risk: $108 billion is guidance, not revenue. Premarket is not the close, and sector concentration amplifies any order slowdown.
Regional spreads beat one risk labelInformation only
DAILY FINANCE · AUG 2704
Next week and risks

Jobs first,
then the policy reaction function

Data and policy windows arrive in sequence; long yields, the dollar and AI valuations may reprice together.

AUG 27
08:30U.S. jobless claims: does July labor weakness persist?
AUG 27
20:00Full symposium agenda: payments, liquidity and policy implementation.
AUG 28
10:00Federal Reserve Chair: weighing inflation, growth and the balance sheet.
AUG 28Final consumer survey and inflation expectations.
SEP 1–3Construction, factory orders and trade; watch Treasury supply.
Core risk: If the reaction function remains vague, term premium and dollar volatility may outweigh short-rate expectations.

Sources: official statistics, central bank and company releases, plus public market reporting. Intraday data can change.

Daily FinanceNot investment advice