THURSDAY, JULY 23, 2026

PLA kicks off 2-day live-fire drills in Taiwan Strait near Fujian. White House official says Moonshot accessed banned Nvidia chips. Iran strikes on CIA facilities prompt questions about possible Russian role. Philippines protests South China Sea AI video to China’s Wang Yi. The drills aren't just posturing—this is a coordinated squeeze play while attention is on the Middle East. Heat and war deal Europe’s grain harvest biggest blow in decades. Watch ag commodities. This isn't priced in yet and the supply shock is real. The Moonshot-Nvidia allegation is a problem. If true, it means the chip bans have holes. Expect more enforcement noise and semis volatility. Good signal for SMH puts. China’s Unitree says 'GPT moment' for robots remains years away. Not sure people appreciate how much this cools the humanoid hype. Tempering expectations matters for the whole automation trade.

PLA kicks off 2-day live-fire drills in Taiwan Strait near Fujian. White House official says Moonshot accessed banned Nvidia chips. Iran strikes on CIA facilities prompt questions about possible Russian role.