美银衍生品团队认为，在财报季整体表现强劲、基本面担忧有所缓解之后，美股下一阶段的主要问题已经不是“还能不能涨”，而是由谁来领涨。在这种板块领导权仍不够清晰的背景下，标普500这类覆盖面更广的指数工具，反而更适合用来表达对整体美股上行的看法。 更有意思的地方在于期权定价。自2022年11月ChatGPT推出以来，类似当前定价水平的SPX35-delta看涨期权，在约47%的观察期内能够达到盈亏平衡；如果只统计标普500上涨的阶段，这一比例约为67%。这说明，当前较低的隐含波动率，使市场对美股上涨弹性的定价仍相对便宜。换句话说， 期权市场并没有把未来一段时间可能出现的上行空间完全计入价格。

Iran's annual inflation hit 66% in the 12 months to July, the Statistical Center of Iran reported via ILNA, with food prices up more than 100% since last July. Staples including eggs, rice, meat and bread have become unaffordable for many, especially workers and pensioners near the statutory minimum wage; labor activists say many workers can now only cover about eight days of living expenses per month. The government says improving livelihoods is a top priority, and the first vice president warned adversaries may try to exploit the price surge.

Turkish President Erdogan told U.S. President Trump that Israel is attacking Palestinians in Gaza and that the second phase of the peace plan was supposed to take effect now.