Market Overview

The following is a partial recap of the market analysis shared during today’s morning Discord call.

This weekend saw no significant news while the 60-day U.S. – Iran ceasefire and negotiation deadline under the June Memorandum of Understanding is set to expire today. In equity markets, the S&P 500 closed virtually flat on Friday while holding firm above key daily support at 7,800, leaving the 7,840 record high as a critical resistance level to watch for the week ahead. Individual equity highlights included Tencent posting its first green session following last week’s earnings release, alongside a massive beat on earnings and operational estimates from Thungela Resources, while setup dynamics in Roblox signal a potential tactical opportunity for traders. Meanwhile, precious metals enjoyed a solid session into the weekend, with copper leading the complex after advancing 1.94% on renewed industrial demand expectations.

Roblox (RBLX)

Since dropping after earnings on July 30th, the stock has been holding steady in a price range between $33.88 and $40.00, matching its lowest levels from July 2024. This steady trading shows buyers are stepping in to support the share price despite initial market disappointment, with $40.00 acting as the key level to watch. A clear move above $40.00 could spark a stronger recovery toward filling the price gap left by the post-earnings drop, offering a favorable upside opportunity relative to the risk.

Tencent (700)

Tencent had its first green day today after its earnings announcement last Wednesday. The fact that the stock managed to bounce is a positive signal, as it avoided potentially creating new lows since the 24th of July. If it continues to push higher, we could see it fill the gap and resume the upward trend it has maintained over the past couple of months—a setup that also bodes well for Naspers Ltd (NPN) and Prosus N.V. (PRX).

Local Stocks

Thungela Resources Ltd (TGA)

Thungela released its earnings announcement this morning. While investors had expected a dividend of R5.95 per share, the declared dividend per share came in at R5.50 with no special dividend. However, the market largely looked past the dividend miss, with the share price surging 13% since the market open as the company comfortably beat all other operational estimates and signaled a stronger operational outlook for the second half of the year.

SPAR Group Ltd (SPP)

SPP saw a 5.77% drop after the unexpected dual resignation of its top board leadership: This included the Independent Non-Executive Chairman and the Deputy Chair with immediate effect. Spar has seen a steady decline in its share price since early last year.

Earnings & Economic Data

Pre-Market Earnings

InspireMD (NSPR)

A medical device company that develops and commercializes specialized micro-mesh stent platforms to prevent embolic strokes during vascular procedures.

BitFuFu (FUFU)

A digital asset infrastructure provider that offers Bitcoin self-mining, cloud-mining solutions, miner hosting, and equipment sales for institutional and retail clients.

After-Market Earnings

XP Inc (XP)

A leading Brazilian financial services technology platform that provides wealth management, brokerage, investment banking, and private banking services across Latin America.

Fabrinet (FN)

An advanced contract manufacturer that provides complex optical packaging and precision electro-mechanical manufacturing services for optical communications, AI data center hardware, automotive, and industrial laser OEMs.

Economic Data

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