Supported by news that US core PCE inflation is cooling, the market's interest rate cut expectations have been raised to a certain extent. This has put pressure on the US dollar and US bond yields in the short term, and boosted the stock market at the same time. However, the overall decline in US stocks on the June closing day may be related to Goldman Sachs and J.P. Morgan's bearish attitude towards US stocks. Despite this, technology stocks, especially stocks driven by the AI boom, such as Nvidia, recorded significant gains in the first half of the year, showing the important position of technology stocks in the market.
The growth of the US core PCE price index in May slowed to its lowest level in nearly three years, indicating that inflationary pressure has abated, which is a positive sign for the market. However, some complex factors in the data, such as the continued rise in supercore PCE prices and the acceleration of revenue and expenditure, indicate that the inflation environment is still uncertain.
In terms of global stock markets, the increase in US stocks in the first half of the year was mainly driven by a few tech giants, which reflected the increase in market concentration. Meanwhile, the annual rebalancing of the Russell Index highlights the importance of these tech giants in global stock markets.
Political risk is also the focus of market attention. The French stock market and treasury bond market reflected market concerns about political uncertainty, particularly the far-right's performance in pre-election televised debates and the first round of voting. Furthermore, expectations of Trump winning the presidential election in the US political scene are beginning to affect market sentiment.
In the currency market, the continuous rise of the US dollar and the weakness of the yen show dynamic changes in the currency market, which have a direct impact on global trade and investment decisions. The crude oil and precious metals market...

The strong performance of technology stocks has once again become a key factor driving the rise in the US stock market. Tesla and Amazon led the tech giants. Among them, Tesla rose 4.8%, while Amazon rose 3.9%. The market capitalization broke through the $2 trillion mark for the first time, reaching a record high. Despite an intraday decline of 2.8%, Nvidia ended up closing in a thrilling rise, showing strong momentum for the market to recover.
Micron Technology once plummeted more than 9% in after-market trading. Although its results for the third fiscal quarter exceeded market expectations, financial guidance for the fourth fiscal quarter fell short of analysts' expectations. Driven by AI, the storage market is recovering strongly, which also influenced Samsung's decision to drastically raise memory prices by 15-20%.
On the macroeconomic side, the annual stress test results announced by the Federal Reserve show that the US banking industry has passed the stress test, which provides conditions for the banking industry to increase expenses in the future. Meanwhile, the yield on ten-year US Treasury bonds rose for two consecutive days, and the exchange rate of the yen fell below the 160 mark against the US dollar, a new low since 1986. Although senior Japanese officials were highly wary of exchange rate changes, the US dollar index also hit an eight-week high.
The crude oil market rebounded slightly. Despite an unexpected increase in US crude oil inventories, oil prices fell for a while and reached a new low. The price of gold also fell sharply in the intraday period, reaching a two-week low. Copper prices continued to fall. Copper prices fell four times in a row, once again hitting a new low in February, while Lunzinc reversed the market and rose to a new high for three to three weeks.
In the Chinese market, the Shanghai index rebounded sharply in the afternoon, and Hong Kong stocks also fluctuated...

The latest market dynamics show that despite a decline in pan-European stock indexes, the strong performance of technology stocks helped the US S&P 500 Index and Nasdaq Composite Index end three consecutive days of decline, while the Dow Jones Industrial Average ended five consecutive gains. It is particularly noteworthy that after a sharp rebound of 6.8%, Nvidia's market capitalization once again broke through the $3 trillion mark, and Google and Microsoft also ended the trading day with record closing highs.
Furthermore, FedEx rose to 17% after the market, driven by a positive financial outlook. Favored by popular investment, Rivian increased by more than 50% in after-hours trading. In Europe, Novo Nordisk's stock price rose 4% to a record high, while Airbus fell more than 10% intraday due to profit warnings.
In terms of economic data, Canada's Consumer Price Index (CPI) unexpectedly showed signs of warming, causing two-year Canadian bond yields to rise by 10 basis points in the intraday period. This has also led to a rapid rise in US bond yields. In the money market, the US dollar index rebounded, while the yen continued to weaken, approaching the 160 intervention mark.
The price of crude oil fell from an eight-week high, while the price of gold also declined. The price of tin on the London Metal Exchange fell to a one-week low. Copper prices fell for three consecutive days, hitting a new low in two months, but aluminum prices rebounded by more than 1%.
In the Chinese market, A-shares declined after opening. In particular, the Science and Technology Innovation 50 Index fell by nearly 3%, and the semiconductor sector had the highest decline. Cyrus fell to a halt at the end of the session, while industrial mother engine concept stocks exploded. Kweichow Moutai once rose...

This Friday will usher in a major event called the “Four Witch Days” by the market. That is, the four types of financial contracts related to stocks and options expire on the same day. The nominal value involved is expected to exceed 5 trillion US dollars, which is probably the largest in history. This situation usually results in increased market volatility as traders adjust or close their positions before the options expire.
Against this backdrop, US stocks showed volatility. Although the S&P 500 index and the Nasdaq Composite Index hit new intraday highs in early trading, they then turned down. The NASDAQ ended seven consecutive gains, while the Dow Jones Industrial Average continued to rise three times in a row, reaching a four-week high. Nvidia, in particular, despite a significant increase at the beginning of the session, hit a new intraday high, then fell sharply and fell 3.5% at the close.
Meanwhile, the Bank of England's latest decision has caused the price of British bonds to soar, driving short-term British bond yields to a new low of nearly three months, and the value of the pound against the US dollar has dropped sharply. Furthermore, the release of US unemployment data has led to a recovery in US bond yields.
In the commodity market, oil prices and metal prices have generally risen. Prices of Brent crude oil and US crude oil have reached new highs of more than seven weeks, and the prices of gold and silver have also risen markedly.
In the Chinese market, the overall performance of A-shares was relatively stable, successfully holding the 3,000 mark, despite the 1.6% drop in the Hang Seng Technology Index. China Securities declined overall, falling for four consecutive days, hitting a new low in February. Among them, NIO Auto fell by more than 2%, while Bilibili reversed the market and rose more than 5%. The offshore RMB exchange rate against the US dollar also declined,...

Due to the US stock market closure last night, the market focus turned to Europe. The pan-European stock index experienced a decline, particularly in the real estate and technology sectors, which each fell by more than 1%, while the mining sector closed in reverse. This supported the rise in the UK stock market for the second day in a row. Key European economic data, particularly the UK's inflation index, showed higher than expected levels, leading to lower European bond prices and higher yields. This change is reflected in British bond yields. In particular, two-year British bond yields have rebounded from a three-month low.
Furthermore, the UK's high inflation data caused the pound to reach an intraday high after the data was released, while the US dollar index turned down. In the commodity market, crude oil prices have declined, and Brent crude oil prices have temporarily left their seven-week closing high. This is related to the fact that US crude oil inventories are expected to increase for the third consecutive week. Gold prices also declined slightly, while lunzine rose for three consecutive days, reaching a one-week high. Copper prices are also gradually breaking away from their one-month low.
In the Chinese market, A-shares showed a volatile downward trend, while Hong Kong stocks rose sharply, reaching 3%, with Station B rising significantly by 19%. Meanwhile, 10-year treasury bond futures continued to reach new highs. The offshore RMB exchange rate against the US dollar fell again and fell below the 7.27 mark, hitting a new low in two months. These developments suggest that, despite the uncertainty and pressure on the global economy, markets are still showing resilience and vitality in some regions.
The Malaysian stock market opened slightly fatigued today, with about 600 stocks falling less than an hour after opening. When it falls, don't panic, implement your original strategy...

Technology stocks shined brightly, helping the S&P 500 index to rebound to a record high. The Nasdaq index reached a record high for six consecutive days. Among them, Tesla rose more than 5% to become the leader among tech giants. The performance of chip stocks was impressive. Broadcom rose more than 5%, setting a record high with Microsoft and Apple. Although Nvidia was slightly weak, it was unable to maintain its record high position. In Europe, France's far-right political party first stated that it was willing to cooperate with President Emmanuel Macron to drive an overall rebound in the European stock market. Among them, the French stock index led the way.
US Federal Reserve Bank official Huck said that if the economic situation is in line with expectations, interest rates may only need to be cut once this year. Furthermore, facing lawsuits against investors that misled investors with cryptocurrency mining revenues, Nvidia chose to appeal, and the case has been accepted by the US Supreme Court. Nvidia CEO Hwang In-hoon suggested in a recent interview that future internet traffic may be drastically reduced because computation will be increasingly generated instantly, which will lead to a fundamental change in the computing model.
In addition, news that Microsoft is speeding up the nuclear power layout has also attracted attention. Bill Gates announced that he will continue to invest billions of dollars to build nuclear power plants to meet the growing demand for electricity in the development of AI technology. At the same time, Samsung also announced that it will launch a new packaging technology in which HBM chips are vertically stacked on top of the GPU, which is expected to revolutionize the rapidly growing AI chip market.
In the money market, the US dollar index has retreated from a six-week high, and the yen is close to a one-and-a-half-month low. The energy market saw a rebound in crude oil prices, and US oil rose more than 2%, reaching a seven-week high. At the same time, metal price performance is weak...