GLOBAL MARKET CALL: Damage From AI & War Shocks Has Been Minimal

The global economy has been hit by two shocks this year and absorbed them well. The war that started in March pushed oil prices higher and disrupted global supply chains. The AI trade then took a dive in July, with Asian semiconductor stocks hit the hardest. Neither the initial shocks nor the aftershocks seem to have damaged the global economy so far.

President Donald Trump said on Saturday that he will hold off on a fresh attack on Iran if a deal can be reached quickly to reopen the Strait of Hormuz and end Iran's nuclear program. The price of a barrel of Brent crude oil is down $4 this evening to $84. Last week on Thursday, Samsung reported a 19-fold increase in Q2 operating profit to 89.5 trillion won, telling investors the memory shortage is set to run into 2028. AI-related stocks rebounded.