TL;DR

Tech rally lifts Nasdaq to record; Trump-Putin Ukraine talks set; Harvard takes major Bitcoin ETF stake.

Highlights

• Trump to meet Putin in Alaska on Aug. 15 to discuss Ukraine ceasefire; talks may involve Kyiv ceding Donetsk, Luhansk, and Crimea 12.
• Putin offers Ukraine ceasefire contingent on territorial concessions; Ukraine rejects any loss of territory 212.
• Trump brokers Armenia-Azerbaijan peace deal, granting U.S. exclusive rights to a strategic transit corridor 11.
• UN Security Council to hold emergency session on Israel’s plan to seize Gaza City; international backlash and humanitarian concerns intensify 3.
• Trump authorizes Pentagon strikes on six Latin American drug cartels; $50M reward posted for Venezuela’s Maduro 4.
• Trump expands Fed chair search, adding Bullard and Sumerlin; no clear frontrunner 5.
• IRS chief Billy Long ousted after two months; Treasury Secretary Bessent named acting head 6.
• Harvard discloses $117–$120M stake in BlackRock’s Bitcoin ETF ; Brown University doubles IBIT holdings 715.
• Trump administration threatens to seize or license Harvard’s patents amid ongoing university standoff and visa restrictions 10.
• Tech rally pushes Nasdaq to record, S&P 500 near all-time highs; rate cut bets and earnings drive gains 8.
• OpenAI’s GPT-5 launch receives mixed reviews due to incremental improvements and technical issues; company pledges fixes 913.

Commentary

U.S. equities ended the week on a strong note, with the Nasdaq closing at a record and the S&P 500 just below its all-time high 8. The move was driven by broad tech strength—Apple and Gilead Sciences outperformed—and persistent expectations for a Fed rate cut next month, now priced in by futures at 90% 8. The market shrugged off recently imposed 145% tariffs, focusing instead on supportive earnings and monetary policy signals 8.

Geopolitical risk remains elevated. Trump’s upcoming Alaska summit with Putin raises the possibility of a Ukraine ceasefire tied to Kyiv ceding significant territory, a framework that would mark a major shift in the conflict’s trajectory 12. While Ukraine has rejected these terms, any progress or breakdown in talks could impact European assets, energy prices, and currency markets 212. The newly signed Armenia-Azerbaijan peace deal, which grants the U.S. exclusive development rights to a strategic corridor, signals increased U.S. influence in the region and could shift regional trade and energy flows 11.

Domestically, the Trump administration’s actions—authorizing military strikes on Latin American cartels, removing the IRS chief, and escalating pressure on Harvard over patents and visas—add to policy uncertainty for sectors tied to education, compliance, and defense 4610. The expanded Fed chair search, with no clear favorite, leaves rates markets in wait-and-see mode, though the current bias remains dovish 5.

Institutional adoption of digital assets continues, with Harvard and Brown’s sizable Bitcoin ETF positions highlighting growing mainstream acceptance 715. However, OpenAI’s GPT-5 launch underwhelmed, with users citing incremental improvements and technical issues; this may temper near-term AI sector sentiment, though the broader tech rally remains intact 913.

Traders should monitor developments from the Trump-Putin summit, Fed chair signals, and ongoing Middle East tensions, while watching for volatility in currencies, energy, and tech 135.