At the morning close, China’s main futures contracts were mostly higher. Shanghai gold and silver gained over 3%, red dates and iron ore rose more than 2%, coke and live hogs climbed about 2%, and platinum and palladium were up over 1%. On the downside, methanol fell more than 3%, propylene nearly 3%, Shanghai nickel, polypropylene contracts, benzene and styrene (EB) dropped over 2%, and liquefied petroleum gas (LPG) was down nearly 2%.

ADP报告：7月贸易/运输/公用事业就业人员薪资增速年率中值为4.4%，6月为4.4%。

Rapid advances in rival open‑source models this year have increased pressure on ByteDance. At a recent internal Seed team meeting founder Zhang Yiming urged a long‑term approach to model development, saying the firm will refuse distillation—not using others' outputs to chase temporary ranking gains—and should be willing to sacrifice some short‑term returns for long‑term goals. ByteDance has banned distillation of open‑source models internally and tightened controls, including API detection, to enforce the restriction; Zhang said distillation would interfere with genuine long‑term technical breakthroughs.