Key Takeaways
- Michael Burry shorts major AI and semiconductor names, including Nvidia (NVDA) and Micron (MU), warning that the AI-driven rally has reached "dot-com peak" speculative levels.
- President Trump’s financial disclosures reveal 18 trades in Coupang (CPNG) since late 2025, with holdings estimated at up to $130,000 amid regulatory tensions in South Korea.
- OPEC+ is expected to raise oil production quotas by 188,000 barrels per day for August as the reopening of the Strait of Hormuz signals a cooling of Middle East hostilities.
- Global stock markets finished higher on Friday despite mixed results on Wall Street, as investors weigh geopolitical shifts and cooling inflation data.
- Ebola deaths in the Democratic Republic of Congo have neared 500, with community transmission of the Bundibugyo virus accelerating in North Kivu and Ituri provinces.
Burry Warns of AI "End Game" as Short Positions Mount
Renowned "Big Short" investor Michael Burry has intensified his bearish stance on the technology sector, specifically targeting the artificial intelligence boom. Burry recently disclosed a significant short position in Micron Technology (MU) at $1,051.87, arguing that the stock’s 240% year-to-date gain is driven by "greater fool theory" rather than fundamentals. He noted that Micron is currently trading further above its 200-day moving average than it did during the 2000 dot-com peak.
Beyond Micron, Burry has adjusted put options against the iShares Semiconductor ETF (SOXX) and maintains bearish bets on Nvidia (NVDA) and Tesla (TSLA). He characterized recent massive capital expenditure announcements from South Korean chipmakers as the "beginning of the end" for the current cycle. Analysts remain divided on whether Burry’s timing is premature, given the continued momentum in enterprise AI spending.
Trump Disclosures Highlight Coupang Trades and Diplomatic Maneuvers
New financial filings from the U.S. Office of Government Ethics show that Donald Trump engaged in 18 distinct trades of Coupang (CPNG) shares between October 2025 and May 2026. The trades, managed by his investment team, occurred as the South Korean e-commerce giant faced intense regulatory scrutiny in Seoul over a massive data breach. The disclosures suggest Trump’s portfolio holds between $50,000 and $130,000 in the U.S.-listed firm.
On the diplomatic front, Trump held high-stakes phone calls with both Ukrainian President Volodymyr Zelenskiy and Russian President Vladimir Putin on July 4. Zelenskiy urged "American resolve" to end the four-year conflict, while the Kremlin reported that Trump offered to assist in finding a "political-diplomatic resolution." These conversations precede the upcoming NATO summit in Turkey, where Trump is expected to meet both Zelenskiy and Israeli Prime Minister Benjamin Netanyahu.
Energy and Commodities: OPEC+ Responds to Middle East Calm
The OPEC+ alliance is set to approve a production quota increase of 188,000 barrels per day (bpd) for August during its Sunday ministerial meeting. This move follows a de-escalation in the Middle East after a memorandum of understanding between Washington and Tehran helped reopen the Strait of Hormuz. Saudi Arabia and Russia are expected to lead the hike, adding 62,000 bpd each to their respective targets.
While the quota increase is a signal of returning stability, actual physical supply remains constrained. Analysts at Saxo Bank and UBS noted that "shut-in production" takes time to restart, and many members are still producing below their current targets. Oil prices have already retreated to pre-war levels in anticipation of a gradual return to normal maritime traffic.
Global Health and Regional Developments
The health crisis in the Democratic Republic of Congo is worsening, with confirmed Ebola deaths reaching 492 out of 1,528 cases. The outbreak, caused by the Bundibugyo virus, has seen a surge in community transmission, particularly in the eastern provinces. The WHO has initiated clinical trials for new treatments, as there is currently no approved vaccine for this specific strain.
In Asia, Chinese President Xi Jinping reaffirmed his commitment to "stable" ties with North Korea in a message to Kim Jong Un. This follows Xi’s state visit to Pyongyang in June, aimed at strengthening the "Marxist ruling parties" alliance. Meanwhile, Malaysia announced ambitious targets for its agricultural sector, aiming for RM932.3 million ($200 million) in durian exports to China by 2030, despite recent price volatility and logistics challenges.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.