SpaceX Stock Drops as NVIDIA Surpasses $5.3T | WEEX TradFi Daily Brief

1 Stock Market Highlights

1) Why Did SpaceX (SPCX) Stock Drop After Earnings?

SpaceX (SPCX) reported Q2 revenue well above expectations while narrowing losses, driven by strong growth in Starlink and AI-related businesses. However, surging capital expenditures and the upcoming lock-up expiration weighed heavily on investor sentiment. Shares remained under pressure throughout the session, allowing Meta to overtake SpaceX in market capitalization. Rising AI infrastructure costs and shareholder unlock concerns have become the market's primary focus.

Watchlist: SPCX

• Spot: SPCXB
• Futures: SPCX

2) NVIDIA (NVDA) Stock Tops $5.3T as AI Demand Grows

NVIDIA (NVDA) closed higher for a fifth consecutive session, lifting its market capitalization above $5.3 trillion. During its earnings call, SpaceX reaffirmed its exclusive use of NVIDIA GPUs while outlining plans for massive AI computing expansion. Combined with continued confidence in the early-stage AI investment cycle, capital continued rotating into AI leaders. Investors remain focused on future supply expansion and order execution.

Watchlist: NVDA

• Spot: NVDAB
• Futures: NVDA

3) Why Did SanDisk and Western Digital Stocks Fall After Earnings?

Although SanDisk and Western Digital both reported stronger-than-expected Q2 results, their revenue guidance for next quarter fell short of aggressive market expectations, sending shares sharply lower during and after trading. The cautious outlook weighed on the broader storage sector, dragging down peers including Micron and SK hynix. While AI server demand remains solid, near-term market sentiment has cooled.

Watchlist: SNDK, WDC

• Spot: SNDKB, WDCON
• Futures: SNDKB, WDC

4) Why Are Gold Prices Rising on Safe-Haven Demand?

Weaker-than-expected employment data eased concerns over further rate hikes, pushing Treasury yields lower. Combined with ongoing geopolitical uncertainty, investors rotated into gold and silver as safe-haven assets, driving precious metals broadly higher.

Watchlist: GOLD (PAXG), GOLDXAUT

• Spot: GOLD(PAXG), GOLDXAUT, SILVER(XAG)
• Futures: XAU, XAG

5) Unitree Robotics IPO: When Could UNITREE Stock List?

Unitree Robotics (UNITREE) completed its preliminary IPO pricing process on August 5, with its STAR Market listing expected around mid-August. The company plans to raise approximately RMB 4.2 billion, implying a valuation of roughly RMB 42 billion, and is expected to become China's first publicly listed humanoid robotics company. Investors are closely watching its valuation, R&D spending, and overseas expansion prospects.

Watchlist: UNITREE

• Futures: UNITREE

2 U.S. Earnings Preview

August 6 (Pre-Market)

ConocoPhillips and Constellation Energy are scheduled to report earnings. Key areas to watch include:

1) ConocoPhillips (COP)

Investors will focus on upstream profitability amid oil price fluctuations, production trends, capital expenditure plans, and the impact of geopolitical developments on global energy supply.

Watchlist: COP

• Spot: COPON
• Futures: COP

2) Constellation Energy (CEG)

Key areas to watch include progress on nuclear plant license extensions and long-term clean energy power purchase agreements (PPAs) with major technology companies supporting AI data centers.

Watchlist: CEG

• Spot: CEGON
• Futures: CEG

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