Hot news

• The 'CPI+Fed' double storm is hitting hard, and traders are quickly closing their positions.

Ahead of the rare 'CPI+Fed' double risk event on Wednesday, traders are quickly unwinding their bets on the rise of US Treasuries. Data shows that since the release of non-farm payrolls data last Friday, the open interest in 10-year Treasury Futures has decreased by about 80,000 contracts, indicating traders are unwinding their bullish bets.

• BofA: Clients net buy US stocks for the first time in six weeks, with individual investors and hedge funds leading the way

Jill Carey Hall, Bank of America's stock and quantitative strategist, said Tuesday that the bank's securities clients net bought US stocks for the first time in six weeks, led by individual investors and hedge funds. According to the report, the bank's securities clients bought $1.9 billion worth of US stocks last week, with both individual stocks and ETFs inflows. Clients of individual investors and hedge funds led the net buying, and the inflows of single stocks were the largest since December 2023.

• PIMCO: The crisis in US commercial real estate is lurking! PIMCO expects regional banks' patience to be near 'critical point'

John Murray, Managing Director of PIMCO's global private commercial real estate team, told the media that the "true wave of difficulties" facing regional US banks as a lender in the commercial real estate (CRE) sector is just beginning. He said that the uncertainty about Fed interest rate cuts has exacerbated the challenges facing the CRE industry, and high borrowing costs have lowered valuations and triggered defaults, leaving regional banks as lenders trapped in unsellable assets.

• OPEC Monthly Report: Maintaining global oil demand expectations unchanged

OPEC's monthly report shows that despite lower-than-expected consumption in the first quarter, the organization still maintains its forecast for relatively strong growth in global oil demand in 2024 and 2025. The report shows that world oil demand will increase by 2.2 million barrels/day in 2024 and by 1.8 million barrels/day in 2025, both of which are unchanged from last month.

Gamestop's surge has dramatically narrowed, with the trading platform considering unplugging the internet of US retail investors.

• Nasdaq, S&P 500 Index hit new closing highs, with Apple surging more than 7% to hit a new high

The three major US stock indexes closed mixed, with Nasdaq up 0.88%, S&P 500 up 0.27%, and Dow down 0.31%. Among them, Nasdaq and S&P 500 both hit record closing highs.

Star tech stocks rose across the board, with Apple surging more than 7% to hit a new high, the largest single-day increase since November 2022, with a total market cap of $3.18 trillion. Microsoft rose more than 1%, Meta, Netflix, Google, and Amazon all rose slightly; Tesla fell nearly 2%, Nvidia fell slightly.

China concept stocks fell across the board, with the Nasdaq Golden Dragon Index down 1.59%. Nio, Xpeng, and iQiyi fell more than 5%, while Li Auto, Bilibili, Alibaba, Baidu, NetEase, and PDD Holdings fell more than 1%. JD.com fell slightly.

WSB concept stocks rose sharply, with GameStop up more than 22% and AMC Entertainment up more than 10%.

• Apple's stock price violently soared, reaching a new high in the year

TOP20 US stock trading volume$Apple (AAPL.US)$Apple's stock price hit a new high for the first time this year, which is also the first intraday record high since December last year, highlighting investors' continued confidence in Apple. Apple has risen nearly 25.6% since its low point on April 19 this year, entering a technical bull market. This rebound has increased its market value by more than $500 billion, and its market value has returned to above $3 trillion. At the close, Apple rose more than 7%.

• JPMorgan: Robotaxi is unlikely to have substantial revenue in the next few years

Ryan Brinkman, an analyst at JPMorgan, wrote in a report to clients that...$Tesla (TSLA.US)$It will be difficult for the company's robotaxi business to achieve profitability in the short term, which may disappoint some of the company's investors. He said these expectations were partly based on recent conversations between analysts and Tesla's investor relations (IR) director. The IR executive mentioned that Tesla will build robotaxis based on a new generation of car platforms, but the platform will not be launched until the company is close to fully utilizing existing production capacity, which may take several years. Tesla fell nearly 2% at the close.

• Musk faces shareholder lawsuits for damaging Tesla by acquiring Twitter.

A new shareholder derivative lawsuit alleges that Musk sold his shares during the process of acquiring the social media platform Twitter (now renamed "X"), misappropriated Tesla's resources, and violated his obligations to Tesla shareholders. The Rhode Island Employees' Retirement System sued Musk, Tesla, and Tesla Board members, alleging that Musk's involvement in the acquisition of Twitter has distracted him from his duties at Tesla, resulting in conflicts of interest and damage to Tesla's interests.$Tesla (TSLA.US)$Misuse of Tesla's resources by acquiring stock in violation of his duty to Tesla shareholders. The Rhode Island Employee Retirement System filed a lawsuit against Musk, Tesla, and Tesla board members, claiming that Musk's involvement in the acquisition of Twitter distracted him from his duties at Tesla, resulting in conflicts of interest that damaged Tesla's interests.

• Stocks rose more than 11%! American version of Huabei's Affirm service will be embedded in Apple Pay.

On Tuesday, Eastern Time, the American version of Huabei announced that Apple Pay users will soon enjoy Affirm's "buy now, pay later" installment service. This new feature will be available on iPhone and iPad devices in the United States later this year. Analysts pointed out that this move is a major boost for Affirm and the entire "buy now, pay later" industry. Affirm soared more than 11% at the close.$Affirm Holdings (AFRM.US)$Announced, Apple Pay users will soon enjoy Affirm's "buy now, pay later" loan service. This new feature will be available on iPhone and iPad devices in the United States later this year. Analysis suggests that this move is a significant boost for Affirm and the entire "buy now, pay later" industry. At the close of trading, Affirm surged more than 11%.$Apple (AAPL.US)$Apple Pay users will soon enjoy Affirm's "buy now, pay later" loan service, and this new feature will be available on iPhone and iPad devices in the United States later this year. Analysis shows that this move is a big boost for not only Affirm, but also the entire "buy now, pay later" industry. At the close, Affirm rose over 11%.

• After-hour trading of Oracle surged more than 9%, OpenAI chose Oracle cloud services to expand the Microsoft Azure platform.

$Oracle (ORCL.US)$Adjusted revenue for the fourth quarter was $14.29 billion, lower than analysts' expected $14.57 billion. Adjusted earnings per share for the fourth quarter were $1.63, lower than the expected $1.65 per share. In addition, OpenAI chose Oracle's cloud infrastructure to expand the Microsoft Azure AI platform. As of the time of publication, Oracle's after-hour trading soared more than 9%.

• General Motors approves a $6 billion share buyback plan and lowers electric vehicle sales forecast.

$General Motors (GM.US)$Announced that its board of directors has approved a new share buyback authorization to repurchase up to $6 billion in common stock. The company currently expects to produce 200,000 to 250,000 electric vehicles this year, lower than its previous announcement of 200,000 to 300,000.

• Morgan Stanley: Google's search business is unlikely to be overturned by Apple AI use cases.

Morgan Stanley said that Google's AI products are unlikely to disrupt the "broad-based search market," which reinforces the bank's confidence in Google's core business. Analyst Brian Nowak gave Google a "buy" rating and a target price of $195 per share.$Apple (AAPL.US)$The company's artificial intelligence products are unlikely to disrupt the 'broad-based search market', which reinforces the bank's confidence in the security of its core business. Analyst Brian Nowak rates Google's stock as 'Buy' with a target price of $195.$Alphabet-A (GOOGL.US)$Analyst Brian Nowak rates Google's stock as 'Buy' with a target price of $195.

If you want to play this game, you must believe in yourself and your judgment.

BeiShui crazily bought China Mobile for nearly HKD 1.8 billion and sold Tencent for about HKD 200 million. On Monday (June 3rd), Southbound funds net purchased HKD 3.4 billion of Hong Kong stocks.

• Northbound capital inflows into Hong Kong stocks exceeded HK$10.2 billion, with nearly HK$500 million invested in Tencent.

On Tuesday, June 11, Southbound funds net bought HK$10.281 billion in Hong Kong stocks.

$TRACKER FUND OF HONG KONG (02800.HK)$, $CNOOC (00883.HK)$, $TENCENT (00700.HK)$$Kingkey Fin Int (01468.HK)$

$COSCO SHIP HOLD (01919.HK)$, $XIAOMI-W (01810.HK)$, $KINGKEY FIN INT (01468.HK)$Net sales of HKD 133 million, HKD 95.36 million and HKD 18.86 million were sold respectively.

• $2 billion! Meituan plans to buy back with a big hand.

After announcing a $1 billion buyback plan at the end of November last year, the company has now launched a $2 billion buyback plan. On the evening of June 11th, Meituan announced that the board of directors had decided, according to the shareholder resolution passed at the June 30, 2023 shareholder meeting, to occasionally repurchase the company's B-class common stock on the open market for a total amount not exceeding $2 billion. The company will repurchase it under applicable rules. Meituan stated that the stock repurchase could demonstrate the company's confidence in its own business development and prospects, and ultimately benefit the company and create value for shareholders. Meituan's board of directors believes that the company's existing financial resources are sufficient to support stock repurchases while maintaining a stable financial situation.$MEITUAN-W (03690.HK)$The company has announced a $2 billion repurchase plan. On the evening of June 11th, Meituan announced that the board of directors has decided to repurchase the company's B shares in the open market, with a total amount of no more than $2 billion, based on the share repurchase authorization passed at the shareholders' meeting on June 30, 2023. The company will repurchase shares in compliance with relevant rules.

The company's overall sales volume in 2023 was 18,000 kiloliters, with a year-on-year increase of 28.10%, indicating significant growth. In terms of product structure, the operating income of products worth 10-30 billion yuan were 401/1288/60 million yuan respectively.

Keywords: Chinese CPI, PPI; US CPI; Zhihu; Broadcom.

On Wednesday, important economic data, including China's May CPI, PPI, and US May CPI, will be released.

Regarding financial reports,$Zhihu (ZH.US)$/$ZHIHU-W (02390.HK)$Earnings will be released before pre-market trading.$Broadcom (AVGO.US)$Earnings will be released after post-market trading.

Futubull Morning News:

If you do not plan to hold a certain stock for 10 years, do not hold it even for ten minutes.

- Buffett

Editor/tolk