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TSMC shares fell more than 3% in early trading, despite better-than-expected second-quarter results, but its ADR closed lower overnight.

The 2026 World Artificial Intelligence Conference and the High-Level Meeting on Global Governance of Artificial Intelligence opened in Shanghai on July 17. President Xi Jinping will attend the opening ceremony and deliver a keynote speech.

Micron Technology (MU.O) and SanDisk (SNDK.O) fell 4% in overnight trading in the US, while SK Hynix ADR (SKHY.O) rose 0.4%.

Geopolitical uncertainties persist, and the gains in international crude oil prices have narrowed. A quick overview of the pre-market crude oil prices converted between domestic and international markets is provided in this chart.

Spot gold fell below the $4,000 mark, and spot silver hit a new low. A chart provides a quick overview of the pre-market prices of precious metals in both domestic and international markets.

According to Futures News on July 17, as of 8:30 AM Beijing time, spot platinum fell 0.80% and spot palladium fell 0.42%.

July 17 (Futures News) - Crude oil prices fell slightly, while fuel oil news offered limited directional guidance. Market participants lacked confidence in future trading, opting for cautious small-volume orders driven by immediate needs. Market buying activity was sluggish, and refineries continued to face pressure to ship their products. It is expected that fuel oil negotiations will remain largely stable today, with some individual transactions experiencing slight fluctuations.

Unisound (09678.HK): Based on the U2 base model, it has completed the iterative upgrade of the medical big model and released the industry's first professional big model for the fields of medical care, medical insurance (including commercial insurance) and pharmaceuticals, "U2-Med Three-Medicine Big Model".

Musk: To ensure a smooth flight, two of Starship's Raptor engines will be removed and replaced.

Bernstein raised its 2026 gold price target to $4,533 per ounce, citing central banks diversifying their reserves and the expectation that the Federal Reserve will raise interest rates only once or twice in the next year.

July 17 (Futures News) – According to foreign media reports, soybean oil futures on the Chicago Board of Trade (CBOT) closed lower on Thursday, with the benchmark contract down 0.5%, mainly reflecting weakness in international crude oil futures and the unlocking of oilseed meal arbitrage opportunities. The U.S. Department of Agriculture's weekly export sales report showed that for the week ending July 9, 2026, net sales of U.S. soybean oil for the 2025/26 marketing year decreased by 300 tons, compared to 900 tons a week earlier.

Federal Reserve Vice Chairman Jefferson: Welcomes more economic activity, but opposes rising unemployment.

1. Global semiconductor stocks suffered a massive sell-off on Thursday, with investors questioning the sustainability of the AI-driven rally. The South Korean KOSPI fell over 6%, triggering another circuit breaker during trading; SK Hynix fell over 11%, the Nikkei 225 fell 2.79%, and Kioxia fell 15%. A-shares also saw a significant correction, with the Shanghai Composite Index falling below 3900 points. 2. All three major U.S. stock indexes closed lower. The Dow Jones Industrial Average fell 0.2% to 52,552.97 points, the S&P 500 fell 0.51% to 7,533.77 points, and the Nasdaq Composite fell 1.47% to 25,881.95 points. Goldman Sachs fell nearly 5%, and Google fell over 4%, leading the decline in the Dow. The Wind US Tech Big Seven Index fell 1.31%, with Facebook and Nvidia falling over 2%. SpaceX fell over 3%. Semiconductor and memory stocks also plummeted, with Seagate Technology falling 10% and Western Digital falling over 9%. 3. European stock indices closed mixed. The German DAX index fell 0.34% to 24,915.49 points, the French CAC40 index fell 0.05% to 8,377.86 points, and the UK FTSE 100 index rose 0.54% to 10,572.24 points. 4. International precious metals futures generally closed lower. COMEX gold futures fell 1.77% to $3,979.90 per ounce, and COMEX silver futures fell 2.90% to $55.77 per ounce. 5. The WTI crude oil futures contract closed down 0.03% at $79.58 per barrel; the Brent crude oil futures contract fell 0.11% to $84.86 per barrel.

Federal Reserve Vice Chairman Jefferson: If the increased productivity of artificial intelligence can reduce production costs sooner, inflation may face downward pressure.

Federal Reserve Vice Chairman Jefferson: The economic shock caused by artificial intelligence may have a lasting impact on supply and demand.

Federal Reserve Vice Chairman Jefferson: A series of rapid shocks could cause inflation to solidify and inflation expectations to lose their anchor.

Federal Reserve Vice Chairman Jefferson: We cannot look at each factor in isolation; we must consider the overall economy when making policies.

Federal Reserve Vice Chairman Jefferson: The current situation reflects a policy dilemma, with tensions between the dual mandates.

Federal Reserve Vice Chairman Jefferson: The impact of the Middle East conflict on demand is expected to be limited because the United States is a net oil exporter and its economy is less dependent on oil.

Federal Reserve Vice Chairman Jefferson: We are currently watching two important developments (the Middle East conflict and the proliferation of artificial intelligence).