ECB Blindsided by Treasury's Euro Sales, Jobs Report, & New PCE Changes Loom | August 7, 2026 – Morning Market Briefing

Andrew, Ben, and Tom discuss Atlassian soaring 30% after declaring "AI is the best thing that's ever happened" to the company with credit consumption doubling quarter-over-quarter, the ECB reportedly blindsided after Treasury sold euros rather than dollars in last week's yen intervention with senior officials calling it an unprecedented breach of monetary cooperation conventions, Microchip Technology rising 9% on accelerating data center demand and a long multi-year upcycle across aerospace, defense, industrial, and automotive, Natera jumping 15% on accelerated MRD testing, Elon Musk's new $16.8 billion Terafab chip facility in Texas backed by SpaceX and Tesla, SK Hynix's $38 billion capacity expansion to ease the memory shortage, reports that Nvidia is testing lower-memory versions of its next-gen Rubin Ultra GPU, upcoming changes to the PCE calculation expected to lower reported inflation by up to 30bps, today's jobs report, and new US intelligence suggesting Putin could test NATO's resolve with a limited incursion.Join our live YouTube stream Monday through Friday at 8:30 AM EST:http://www.youtube.com/@TheMorningMarketBriefingPlease see disclosures:https://www.narwhal.com/disclosure