Wells Fargo cuts Walmart (WMT.N) PT to $120 from $140.

U.S. equities opened lower: Dow Jones Industrial Average down 0.6%, S&P 500 down 0.3%, Nasdaq down 0.5%. Micron Technology (MU.O) rose 0.4% after announcing a plan to invest $10 billion over 10 years in U.S. memory R&D. Walmart (WMT.N) fell 7% after Q2 same-store sales growth hit a six-year low and full-year profit guidance missed expectations. SK Hynix (SKHY.O) gained 4% after reaching a preliminary wage agreement with labor. Alibaba (BABA.N) slid 4.7% and NetEase (NTES.O) dropped 0.5% following quarterly results.

本週截至週二，Silicon Data Token支出價格指數小幅反彈至1.0575，較前一週上漲1%。上週該指標一度完全回吐年內所有漲幅，刷新去年12月以來的新低，從年內高點下跌了50%。各大模型降價以及用戶從昂貴的前沿模型轉向更便宜的開源模型、小模型，推動token價格下跌，在用戶越來越強調性價比的情況下，短期的反彈還無法說明價格已經止跌，仍需要時間驗證。