Korea crashes again, Iran strikes — and Advantest raises its year 35%

The Morning 10

Korea crashes again, Iran strikes — and Advantest raises its year 35%

1. 1 Korea: the second leg
2. 2 The print that did it: SK Hynix
3. 3 Outside view — "ammo for THE TOP"
4. 4 Iran fires at a US base — oil reprices the war back in
5. 5 Japan: the sympathy tape
6. 6 The testing duopoly answered — twice
7. 7 The rest of last night's tape: mixed, one credit item
8. 8 The US setup
9. 9 FOMC, 18:00 UTC
10. 10 After dark: MSFT and META

The full Morning 10 →

The Midday 10

SOXX breaks its floor on FOMC day — the sell-off spares only the testers

• 1 The board: the handoff, priced at ETF level
• 2 SOXX 468 — through the floor
• 3 Memory and equipment carry the third leg

All ten lines →

Daily Pulse — The Market Stopped Paying Records

SK Hynix printed the best quarter in its history — operating profit up 557% — and Seoul sold it 9% into a second circuit-breaker day. Teradyne printed a record with a raised guide and is being paid 11% in the first half-hour of US trading. Same night, same industry, opposite verdicts: the market no longer prices the printed line, it prices the forward one. A record is not a guide. That is the regime MSFT and META walk into after the close, with the Fed's decision in between — and the semi fund is testing its 480.50 floor while they wait.

The full Pulse →

Published that day

• Report — The Verification Tax

Print-record cards of the day

• AAPL — Apple: EPS beats 10/10 · revenue 10/10 · reactions 3 up / 5 flat / 2 down · next print 2026-07-30

On the tape

• Money Temperature · Mixed / transitional — 2 heating / 2 cooling
• Rubin 100 · Sector rotation — S19 → GASCHEM
• CME PEAD continuation: T+3 ↑LONG confirmed at T+5 (CAR +14.34%)
• GEV PEAD continuation: T+3 ↓SHORT confirmed at T+5 (CAR -14.03%)
• GOOGL PEAD reversal: T+3 ↓SHORT faded — T+5 closes -0.49%
• IBM PEAD continuation: T+3 ↑LONG confirmed at T+5 (CAR +10.09%)
• NOW PEAD continuation: T+3 ↑LONG confirmed at T+5 (CAR +15.94%)
• TIETO.HE PEAD continuation: T+3 ↑LONG confirmed at T+5 (CAR +10.55%)