AlphaScala Daily: CPI at 8:30, NKE draws $2.17M insider buy

Good morning.

CPI hits at 8:30, and every desk knows the core reading sets the tone for the September Fed debate, so expect thin conviction until the print lands. Gold's at 4,407 and bid, with Kinross (KGC, Alpha Score 79) and Hudbay (HBM, 79) both near the top of our model. On the tape, Nike drew four insider buys worth a net $2.17M over 90 days, while ten TSM insiders picked up shares. On the Hill, April McClain Delaney bought C.H. Robinson (CHRW) as Michael Rulli sold Crown Castle (CCI). Here's what matters.

Markets

• XAU/USD 4,407.66 ▲ +0.91% (Gold)
• ETH/USD 1,914.5 ▲ +1.70% (ETH)
• BTC/USD 64,265.67 ▲ +1.05% (BTC)

Today's calendar

• United States: Core CPI y/y
• United States: Core CPI m/m
• United States: CPI y/y
• United States: CPI m/m

Deal Flow

M&A

• eToro to Buy TradeZero for Up to $231M in US Brokerage Push (Crypto Briefing) eToro is acquiring TradeZero for up to $231 million, gaining a regulated US broker-dealer with options trading and international operations. The deal fills eToro's options gap and…
• Bitwise Layoffs Show How Crypto Downturn Hits Asset Managers (Coinspress) Bitwise cut 14% of staff as crypto prices pressure fee revenue. The BITW ETF fell 31% in 2026 to $574M. The firm also acquired staking provider Chorus One.

IPOs / Listings

• CXMT's 466% Debut Hit Micron (Financefeeds) CXMT's 466% debut sent memory stocks tumbling, but the prospectus reveals no HBM funding. The real threat is conventional DRAM, and it's years away from challenging AI memory.

Funding Rounds

• SEC, CFTC Hit Goliath Ventures CEO With $400M Crypto Fraud Suits (Blockonomi) Regulators say Goliath Ventures raised $425M for crypto liquidity pools that never existed. CEO Christopher Delgado pleaded guilty to fraud in June.

Headline Roundup

Earnings

• Kelly Partners Revenue Hits AUD 159M in 20th Year (SA) CEO Brett Kelly highlighted the firm's 800x revenue growth since 2006, reaching AUD 159 million in fiscal 2026, driven by a partner-led culture.

Macro

• AO launches mobile network in move beyond electricals (Retailgazette) AO enters the UK mobile network market with a single 500GB tariff at £12 a month for members, taking on established MVNOs with a proposition built on its 5 million-strong…
• July CPI Report: Inflation Expected to Cool, Testing Fed's Next Move (BI) July CPI data at 8:30am ET consensus 3.4% down from 3.5% in June. A soft print could reinforce the Fed's hold, while a hot reading revives hike bets. Wage growth lags, energy…

Stocks

• Europe Ransomware Attacks Jump 29% in First Half of 2026 (Prweb) TicTac Cyber Security logged 1,115 European ransomware attacks in H1 2026, up 29% year over year. Business services are on pace to overtake manufacturing as the top target.
• NATO plans drone swarm network along Russia border, keeps humans on trigger (BI) NATO's Eastern Flank Deterrence Initiative will automate drone flight while keeping humans on targeting decisions. The network, already tested in combat, stretches from Finland to…
• Musk Tells SpaceX Staff Grok AI Will Train on Employee Data (BI) SpaceX employees will provide data for Grok's next training run, Musk told staff in an all-hands. The plan mirrors Meta's paused employee data collection effort.
• Vanta Promotes Sarah Scharf to CMO as Compliance Startup Targets Trust (BI) The $4 billion security-compliance startup aims to rebrand around trust and playful marketing under new CMO Sarah Scharf. She wants to make compliance "a little zingier."
• Miami's Cost of Living Surpasses NYC as Austin Housing Craters (BI) Miami's cost of living topped New York's in 2024. Migration reversed and the job market stagnated. In Austin, 79% of 2022 homes are underwater. Both cities face new challenges.
• The Cantillon Effect Explains the Persistent Affordability Crisis (Mises) The Cantillon effect from pandemic-era money printing, not bad economic management, is driving the persistent "affordability crisis" voters feel. Neither party addresses the true…
• India's Diplomatic Corps Needs Domain Experts, Authors Argue (Mint) A former minister's appointment as envoy to Bangladesh tests whether India will pick diplomats for capability or career track. The authors argue the gap between ambition and…
• BS PHARM KOREA Maps 7 Congresses in 2H 2026 for Distribution Push (Prweb) BS PHARM KOREA will attend seven international medical aesthetics congresses in 2H 2026 as part of a global distribution partnership push. The company’s portfolio includes skin…

Crypto

• SEC to Vote on Tailored Crypto Offering Rules Aug. 14 (Coinspress) The SEC will vote Aug. 14 on whether to propose a tailored offering regime for crypto investment contracts. The vote could start a rulemaking process that gives crypto projects a…
• White House Sets Sept. 15 Deadline for Crypto Clarity Act (Bitcoin) The White House gives the Senate until Sept. 15 to advance the Clarity Act after a blocked procedural vote. Polymarket odds sit at 25%.
• Bitwise Cuts 14% of Staff; Crypto Slump Reaches ETF Issuers (Decrypt) Bitwise cut 14% of staff, bringing headcount to ~155. The $9B manager's Bitcoin ETF holds $2.3B as industry concentration grows. CIO sees bottom as Coldcard exploit boosts ETF…
• Crypto's Washington wins are reversible without new laws (Crypto Briefing) Executive orders and agency guidance have given crypto breathing room. Industry groups warn those gains could evaporate without legislation that survives the next administration.
• Anchorpoint begins phased HKDAP stablecoin rollout for institutional users (Crypto Briefing) Anchorpoint Financial, a joint venture backed by Standard Chartered and HKT, has started phase 1 of its HKDAP stablecoin rollout under HKMA license for institutional payments.
• Binance, RedotPay dispute Singapore case status after court hearing (Crypto news) Binance and RedotPay dispute whether Singapore proceedings are being discontinued after an Aug. 7 hearing. The disagreement runs alongside a Hong Kong case seeking $473 million in…
• Georgia Seizes $163K in Cash, Crypto From Unregistered VASP Manager (Crypto Briefing) Georgia's Investigation Service arrested an unregistered VASP manager on Aug. 12, seizing $84K in cash and $80K in crypto. The probe is expanding into tax evasion and money…
• Tether, a Stablecoin Giant, Now Rivals Central Banks in Gold (Blockonomi) Tether bought over 27 tons of gold in H1 2026, ranking with Kazakhstan among the year's biggest institutional buyers. PPI data lands Thursday.

Forex / Commodities

• Montage Gold Koné project on track for Q4 2026 gold pour (Manilatimes) Montage Gold's Koné project is on budget and ahead of schedule for Q4 2026 first gold. 2.7M hours worked in Q2, satellite resources up 1.1Moz. $75M Macquarie loan funds Didievi.
• UK June GDP, Not Q2, Will Decide Sterling's Next Move (Action Forex) BoE hawkish dissent widens at three straight meetings. June GDP data will show whether the economy can handle another hike, setting EUR/GBP and GBP/CHF direction.
• Natural Gas Rally Faces Near-4 Tcf Storage Wall (FXEmpire) The EIA projects storage at 3,985 Bcf by October, a 10-year high. September futures test $2.798 as heat fails to overcome surplus. Key levels: $2.810 and $2.992.
• A La Carte Media Consulting Hits Inc. 5000 at No. 719 with 477% Growth (Prweb) The Chicago-based media consultancy posted 477% revenue growth over three years, landing on the 2026 Inc. 5000 list. CEO Christa Chavez Martay credits the firm's agile,…
• New York City Bill Targets Amazon's Delivery Subcontractors (SA) The Delivery Protection Act would require Amazon, FedEx, UPS to employ last-mile workers directly, not through subcontractors. Amazon says it may relocate. Legislation likely…
• Titan Mining Revenue Jumps 57%, Graphite Project Advances (Manilatimes) Titan Mining Q2: revenue up 57%, EBITDA nearly 4x. Kilbourne graphite project secured orders, on track for 2027 construction.
• Adnoc Shuttles Iraqi Oil Past Hormuz as War Pressures Supply (BL) Adnoc shuttles Iraqi crude past Hormuz using dark-transit methods, offering spot cargoes to Asian buyers as war pressures supply. Iraq's SOMO slashes prices to $30 below…
• Why Nvidia's $500B AI financing plan hinges on GPU resale value (CNBC) Nvidia's $500B AI financing plan bets GPUs hold value like hard assets. China price war risk, Red Sea fatalities, and yen slide toward 160 dominate markets.

Smart Money

• Christian D. Menefee (D-TX): SALE PINS
• Michael Rulli (R-OH): SALE CCI
• April McClain Delaney (D-MD): PURCHASE CHRW
• April McClain Delaney (D-MD): PURCHASE FWONK
• Insider cluster: TSM: 10 insiders bought in last 30 days, net $45K (90d)
• Insider cluster: NKE: 4 insiders bought in last 30 days, net $2.17M (90d)
• Insider cluster: SPG: 3 insiders bought in last 30 days, net $139K (90d)

On the Radar

• Alpha Score top: FLYW (Flywire Corp), Alpha Score 84/100, top of AlphaScala model. Alpha Score of 84 reflects strong overall profile with strong momentum, strong value, moderate quality, strong sentiment.
• Alpha Score top: KGC (KINROSS GOLD CORP), Alpha Score 79/100, top of AlphaScala model. Alpha Score of 79 reflects strong overall profile with strong momentum, strong value, strong quality, moderate sentiment.
• Alpha Score top: HBM (Hudbay Minerals Inc.), Alpha Score 79/100, top of AlphaScala model. Alpha Score of 79 reflects strong overall profile with strong momentum, strong value, moderate quality, weak sentiment.
• Alpha Score bottom: BJGPY (Beijing Geekplus Technology Co., Ltd./ADR), Alpha Score 0/100, bottom of AlphaScala model
• Alpha Score bottom: AZULQ (AZUL SA), Alpha Score 0/100, bottom of AlphaScala model
• COT extreme: Canadian Dollar (CAD): hedge funds net short 179,095 contracts, 49.1% of open interest
• COT extreme: New Zealand Dollar (NZD): hedge funds net short 41,203 contracts, 40.4% of open interest
• COT extreme: Mexican Peso (MXN): hedge funds net long 76,543 contracts, 35.2% of open interest

This Week's Briefings

• Sp500: SPY gains 2% as Nasdaq leads; gold jumps 7%; insider buys MSFT
• Nasdaq: Nasdaq 100 adds 3.3% as NVDA scores 76; QQQ outruns SPY by 120bp
• Crypto: Crypto decouples as QQQ slides 2.3%; ETH leads majors with 3.9% weekly gain
• Forex: Pound gains 0.79% vs dollar; yen shorts hit 35.9% open interest
• Oil: Oil data absent; SPY slips 0.8%, QQQ drops 2.3% on the week

See you tomorrow before the bell.