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    3. TACO's Weekend for Two Consecutive Weeks|TradeXYZ Weekend Market Observation

    TACO's Weekend for Two Consecutive Weeks|TradeXYZ Weekend Market Observation

    By: rootdata|2026/08/03 07:53:56
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    Crude Oil & Indices


    At the start of this weekend, the situation between the U.S. and Iran continued to escalate.


    On Friday, U.S. officials revealed that Trump had ordered a new round of large-scale strikes against Iran, with actions possibly starting over the weekend, and energy infrastructure could also be targeted. Iran claimed that drones attacked the Ahmed Jaber Air Base in Kuwait, and two oil tankers, escorted by the U.S. military, were also struck while passing through the Strait of Hormuz. Neither of these claims was confirmed by Kuwait or the U.S.


    On Sunday morning at 10 a.m., Trump suddenly called off the action. He stated that at the request of Iran, Saudi Arabia, the UAE, and Qatar, the U.S. canceled the planned strikes, provided that all parties could quickly reach an agreement, with Israel also joining this commitment.


    On TradeXYZ, crude oil contracts quickly fell from about $85.5 to below $83 after the news broke, and then continued to decline to around $79.



    The S&P 500 rose from about 7470 points to above 7500 points, later touching 7535 points.



    By the end of the weekend, both CL and Brent contracts had fallen by over 8%, while the S&P 500 rose by about 0.8%. The drop in oil prices reflected the cancellation of airstrikes that had accumulated risks from war and supply disruptions, while the stock indices directly responded to the cancellation of large-scale strikes.



    However, the agreement Trump mentioned has not yet materialized. He stated that arrangements for the Strait of Hormuz were close to being finalized, and the Iranian foreign minister indicated that consultations with Oman had entered the final stages; however, the Iranian foreign ministry spokesperson emphasized that the discussions were about new shipping routes and did not directly negotiate the closure or opening of the strait. Whether vessels need to pay fees has also not been resolved.


    Oil prices around $79 have already reflected the cancellation of airstrikes but have not yet accounted for the full restoration of navigation in the Strait of Hormuz.


    Precious Metals



    Affected by the easing of tensions between the U.S. and Iran, spot gold briefly broke through $4080 at the opening, and subsequently rose about 0.5% on TradeXYZ, while silver increased by about 1%. Both saw a decline after the futures market opened but have rebounded, with the current gains significantly narrowing compared to the weekend.


    Individual Stocks



    Individual stocks generally rose over the weekend, with technology, communications, consumer, and cryptocurrency concept stocks all showing varying degrees of recovery.


    The storage sector performed strongly, with an overall increase of about 3.5%. SK Hynix saw a surge in the morning session but then retreated, showing some weakness compared to other stocks in the sector.



    The differentiation among the Mag7 stocks was concentrated on Apple.


    Excluding Apple, the other six companies saw subsequent gains of about 1.4%-2.0%, while Apple only rose about 0.4%. Although Apple's earnings report at the end of July exceeded expectations, the slowdown in service business growth, weak performance in the Chinese market, and supply chain constraints suppressed its performance over the weekend.



    The market currently chooses to believe that Trump has canceled the strikes while not completely removing the defenses against the recurrence of war. As long as no new signals of war appear, the risk premium for crude oil will remain under pressure, and stock indices and technology stocks will continue to enjoy this brief recovery window.

    -- Price

    --

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