Ase Technology Q2 earnings: AI packaging drives 22% revenue growth

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[1] Ase Technology to Report Q2 Earnings: What's in Store for the Stock? (https://www.zacks.com/stock/news/2962310/ase- ...)[2] Pitney Bowes to Report Q2 Earnings: What's in Store for the Stock? (https://www.sharewise.com/us/news_articles/Pi ...)[3] Amkor Technology, Inc. (AMKR) Q2 2026 Earnings Call Transcript (https://seekingalpha.com/article/4926042-amko ...)[4] Baker Hughes Company (BKR) Q2 2026 Earnings Call Transcript (https://seekingalpha.com/article/4925908-bake ...)

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Jul 30 2026, 10:29

S&P 500 slides 1.5% as 4.5-year channel test nears a decision

**The S&P 500's 1.5% decline on Wednesday has pushed the benchmark to the upper boundary of a 4.5-year trading channel, raising the stakes for a breakout or reversal.** The S&P 500 fell 1.5%, testing the top of a 4.5-year channel after the Federal Reserve held rates steady in a divided 9-3 vote. The Dow Jones Industrial Average shed more than 1,150 points, or 2.2%, for its worst session since April 2025, while the Nasdaq Composite lost 1.7% to extend a six-day losing streak. "The market is at a technical inflection point," said Ellen Zentner, chief economic strategist at Morgan Stanley Wealth Management. "September remains a live meeting, and the incoming inflation data between now and then will be all that matters." All 11 GICS sectors finished lower. Technology and semiconductor stocks led the decline, with the iShares Semiconductor ETF falling 5% and the Roundhill Memory ETF dropping more than 6%. The Cboe Volatility Index rose to around 22 from 18 a day earlier, reflecting heightened demand for portfolio protection. Trading volume on the S&P 500 exceeded the 20-day average by roughly 15%, according to exchange data. A confirmed breakdown below the channel's upper boundary could open the door to a 10% to 15% decline toward the lower end, based on the channel's historical width. The next major catalysts arrive Thursday with earnings from Apple and Amazon, followed by the August jobs report on Sept. 4, which will shape the Fed's September rate decision. ## Three Dissenters Push for a Hike The FOMC's 9-3 vote marked the sharpest split since September 2016, with Cleveland's Beth Hammack, Minneapolis's Neel Kashkari, and Dallas's Lori Logan dissenting in favor of a quarter-point increase. Fed Chair Kevin Warsh said the central bank would remain "resolute" in bringing inflation to its 2% target, declining to characterize the decision as a pause. The 10-year Treasury yield rose six basis points to 4.67%, while the U.S. Dollar Index slipped 0.5% to 100.90. Traders now price in a 54% chance of at least a quarter-point hike at the September meeting, down from 79% before Wednesday's decision, according to the CME FedWatch Tool. ## Cross-Asset Spillover and the Bitcoin Question The selloff rippled across asset classes. West Texas Intermediate crude surged 7.4% to $85.10 a barrel after Iran launched a surprise missile attack on U.S. forces in the Middle East, with President Donald Trump threatening to retaliate. Gold futures rose 0.8% to $4,070 an ounce. Bitcoin, often framed as a risk-on asset during equity selloffs, remained largely unmoved, trading near $63,800, down less than 1% over 24 hours. The divergence suggests that crypto markets are pricing their own macro narrative — one shaped by the Fed's hawkish hold and Middle East tensions — rather than simply mirroring equity flows. Vanda Research data showed retail investors recorded the largest net selling of individual stocks since the COVID crash on Tuesday, with memory chipmakers Micron Technology and Sandisk among the most sold names. The S&P 500's channel test now becomes the central technical question for the remainder of the summer. A bounce from current levels would confirm the multiyear uptrend; a break back inside the channel could accelerate selling into September, when the Fed's next rate decision and the presidential election cycle begin to dominate the macro calendar. This article is for informational purposes only and does not constitute investment advice.

Jul 30 2026, 10:28

Warsh shifts inflation fight to bond market as yields surge past 4.67%

Federal Reserve Chair Kevin Warsh is shifting the burden of fighting inflation onto the bond market, saying the rally in Treasury yields is tightening financial conditions and doing the central bank's work for it — a stance that sent the US dollar to its sharpest fall in two weeks. "The increase in interest rates across the yield curve has been driven by market participants, not by Fed policy," Warsh said at his post-FOMC press conference Wednesday. "By pushing rates higher, the bond market is tightening financial conditions and holding back price growth." The Fed held its benchmark rate at 3.5 percent to 3.75 percent in a 9-3 vote, with three regional presidents — Beth Hammack, Neel Kashkari and Lorie Logan — dissenting in favor of a quarter-point increase. It was the first split vote of the Warsh era and the most dissents in a single direction since 2016. The 10-year Treasury yield stood at 4.678 percent as of Friday, up more than 30 basis points since the end of June, while the 30-year bond yield briefly touched 5.2 percent on Wednesday — the highest level since 2007. The strategy marks a sharp departure from the forward-guidance-heavy approach of predecessor Jerome Powell. Warsh has made clear he wants a more tight-lipped central bank that lets real-time market signals, rather than Fed projections, set the tone for financial conditions. The risk is that the bond market demands a premium for holding long-term US debt that the Fed cannot control — particularly as the Iran war pushes oil briefly above $100 a barrel and gasoline back above $4 a gallon. **The Dollar's Dilemma** The dollar bore the immediate brunt of the shift. The US currency suffered its steepest decline in two weeks as traders priced in a less hawkish Fed willing to let yields do the tightening work. The policy-sensitive two-year yield crossed above the Fed's 3.75 percent upper limit to 4.328 percent, signaling anxiety that the central bank may eventually need to follow through with actual rate increases. CME FedWatch data showed the probability of a rate hike at the next meeting rose to 38 percent from 13 percent a week earlier, even as the Fed held steady. "That shows you how enormously worried the market is about inflation and how worried it is about the Fed putting its money where its mouth is," said Gennadiy Goldberg, head of US rates strategy at TD Securities. Equities sold off sharply. The Dow Jones Industrial Average fell 1,152 points, or 2.18 percent, to 51,594. The S&P 500 dropped 1.5 percent to 7,316, while the Nasdaq Composite lost 2.1 percent for the week and now sits 7.8 percent below its record close from early June. Higher rates tend to curb spending by businesses and consumers, slowing the economy and compressing equity valuations. **What Happens Next** The Fed's next rate decision is scheduled for late September. Warsh reiterated that the central bank remains committed to its 2 percent inflation target, saying "there is no soft inflation target, not on this committee's watch." But with the bond market now effectively setting the pace of tightening, the question is whether yields will rise enough to slow the economy — or trigger the very rate hike the Fed declined to deliver. Barclays analysts expect the US to face roughly $2 trillion budget deficit in 2026, adding to the supply of Treasuries that must be absorbed. Meanwhile, Moody's Ratings projects almost $1 trillion in capital expenditures by Big Tech hyperscalers in 2027, creating competition for capital that could keep upward pressure on yields. If the bond market continues to sell off, Warsh may find that letting yields do the work is easier said than done. This article is for informational purposes only and does not constitute investment advice.

Jul 30 2026, 10:26

Cigna raises profit forecast to $30.45 after Q2 beat on pharmacy strength

Cigna Group raised its 2026 profit forecast to at least $30.45 a share after second-quarter earnings beat estimates, driven by growth in its pharmacy and specialty drug businesses. "By harnessing technology, data and AI to deliver more personalized experiences, improve access and lower costs, we are creating greater value every day," Brian Evanko, who took over as chief executive officer July 1, said in the earnings release. Adjusted earnings of $7.78 a share topped the $7.60 consensus, while revenue rose 7% to $71.67 billion, exceeding the $70.34 billion average estimate. The medical loss ratio — the percentage of premiums spent on medical care — widened to 84.5% from 83.2% a year earlier, in line with the 84.46% analysts expected. The prior-year quarter benefited from higher risk-adjustment payments that compensate insurers covering a disproportionate share of sicker members. The higher guidance reflects Cigna's pivot away from government-backed insurance toward its core employer-sponsored health plans and pharmacy benefits management. The company completed its exit from Medicare Advantage last year, selling the business to Health Care Service Corp., and plans to stop offering Affordable Care Act individual plans by the end of 2026. The strategy reduces exposure to the elevated medical costs that have weighed on rivals such as Humana, which reported a medical cost ratio above 90% in its recent quarter. Revenue at Evernorth Health Services, which houses the pharmacy benefit manager and specialty pharmacy, rose 6% to $61.47 billion, boosted by higher use of specialty drugs for complex conditions including cancer, multiple sclerosis and rheumatoid arthritis. Pharmacy benefit managers negotiate drug prices and coverage with manufacturers on behalf of employers and health plan clients, a business model that has drawn increased regulatory scrutiny. Net income rose to $1.66 billion, or $6.29 a share, from $1.53 billion, or $5.71 a share, a year earlier, "primarily reflecting growth in Cigna Healthcare," the company said. The new forecast of at least $30.45 a share for 2026 compares with the $30.41 analysts expect and the prior guidance of $30.35. The shift away from government programs positions Cigna differently from peers still grappling with elevated utilization in Medicare Advantage and Medicaid. While Cigna's medical cost ratio rose in the quarter, it remained well below the 90% or higher levels reported by some rivals, reflecting its heavier weighting toward commercial plans where cost trends have been more manageable. This article is for informational purposes only and does not constitute investment advice.