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Markets

Closing: S&P and Nasdaq hit historic highs, with Nvidia becoming the largest company in the US market cap.

Top 20 US stock turnover on June 18: Nvidia sets a new record, becoming the champion of US market cap.

US WTI crude oil rose 1.5% on Tuesday, continuing the upward trend from yesterday.

Chinese concept stocks rose and fell on Tuesday, with Taiwan Semiconductor up 1.4% and PDD Holdings down 2.8%.

Major European stock indexes collectively closed higher, with the STOXX Europe 50 index up 0.71%.

Macro

Prime Minister of Ukraine: Negotiations for Ukraine to join the EU will begin on the 25th.

The EU is reportedly launching excessive deficit procedures against seven member states, including France and Italy.

US 2024 fiscal year budget deficit forecast raised 27% to about $1.9 trillion.

Fed officials urge patience with rate cuts, hinting at timing.

Two major US "creditors" diverge again: Japan's US bond holdings fell for the first time in seven months, while China's bond holdings moved away from the 15-year low.

Biden announces relaxed legal residency restrictions for US citizens' spouses and children.

California modifies labor law.

Competitor will withdraw: Dutch Prime Minister Rutte will be the new NATO Secretary General.

Dallas Fed President Logan: The Fed is in a favorable position to be patient with interest rates.

Fed board member Kugler: Rate cuts later this year may be appropriate.

St. Louis Fed President: It may take several quarters to see data supporting interest rate cuts.

ECB official Knot: The next interest rate move will be based on data and cannot be predicted in advance.

Boston Fed President: The Fed needs to be patient and should not overreact to inflation data.

Fed's Williams: The economy is strong and interest rate decisions require more data.

US industrial output growth higher than expected, with manufacturing and other industries achieving widespread growth.

US retail sales saw little growth, with previous data also revised downward.

Consumer spending in the USA is slowing down, the "September rate cut camp" of the Federal Reserve is once again strengthening!

Company

AI is still highly popular, and Nvidia has become the company with the highest market cap in the world.

Latest news: Apple shelves development of the second-generation Vision Pro and focuses on "cheaper headsets".

Nvidia reportedly reaches an agreement to acquire software startup Shoreline.

Berkshire Hathaway, which is owned by Warren Buffett, has been buying crude oil product shares every day lately! Shareholding in Occidental Petroleum for nine consecutive trading days.

What happened? The Boeing Starliner spacecraft's return to Earth has been postponed for the third time.

Citigroup: Investment banking business expenses in the second quarter will soar by 50%.

The results of the World Enterprise Chess Competition have been released, and all the major Wall Street banks have failed to be named the 'smartest company'.

Whistleblower claims Boeing mishandled hundreds of defective parts, with some possibly installed on new planes.

Bank of America's institutional clients continued to add holdings in technology stocks and social media concept stocks last week, while reducing holdings in financials.

Apple suspends the development of the next generation of high-end headsets and focuses on releasing cheaper models in the second half of next year.

Uber driver memoir: only earning $80 a week.

Nvidia executives and directors cashed out more than $700 million in the first half of the year, including Huang Renxun himself.

Comment

Morgan Stanley's forecast of the timing of the first interest rate cut by the Federal Reserve has been brought forward from 2025 to December of this year.

Nvidia's market cap is bullish and expected to exceed 5 trillion dollars as it has surged over 200% within a year.

Goldman Sachs still expects the Federal Reserve to cut interest rates twice this year, citing a turning point in the US job market.

Nvidia continues its upward trend, with analysts predicting that its market cap will reach $5 trillion.

How does Musk's $44.9 billion compensation compare to other CEOs of US-listed companies?