1. The Federal Reserve is expected to maintain the federal funds rate, with indications of potential easing in September. 2. Major tech companies including Microsoft, Meta, Apple, and Amazon will release earnings reports. 3. Attention will focus on the U.S. nonfarm payrolls report for July.

1. Tesla's stock has surged from $160 to $250 in three months due to Q2 delivery outperformance and Elon Musk's compensation package victory. 2. The stock's rally has been driven by multiple expansion rather than earnings improvement. 3. Given the current overvaluation and uncertain business outlook, the author downgrades Tesla stock to a 'Hold' rating.