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• Harker of the Fed: One interest rate cut is appropriate this year, and I hope to see more data.

On Monday, Philadelphia Fed President Harker said that based on current predictions, he believes one rate cut this year is appropriate. He added that in the coming months, he will continue to closely monitor inflation, labor market, and economic activity data to ensure that inflation is sustainably moving toward the central bank's 2% target.

• Goldman Sachs raises year-end target price for the S&P 500 index! The highest call is up to 6300 points.

Goldman Sachs strategist has raised the year-end target price for the S&P 500 Index (SPX) for the third time, keeping pace with some of Wall Street's most optimistic analysts. The bank currently expects the S&P 500 index to rise to 5600 points by 2024 in the benchmark scenario, higher than the previous forecast of 5200 points, reaching a new historical high. Goldman also listed other scenarios that the S&P 500 index may face. One scenario is that 'large-cap stocks continue to perform well', which will push the index closing price to 6300 points.

• Citigroup joined Goldman Sachs and Evercore ISI in the bullish chorus, raising its year-end target for the S&P 500 index to 5600 points.

Citigroup's US stock strategist Scott Chronert said that the rise in the stock prices of US tech giants may continue to push the S&P 500 index to new highs. He raised his year-end target for the S&P 500 index from 5100 points to 5600 points and pointed out that the continuous strength of the 'Big Seven' US stocks and market expectations of profit growth in other S&P 500 index component stocks are expected to expand. Citigroup became the third company to raise its year-end target for the S&P 500 index after Goldman Sachs and Evercore ISI last Friday after the US stock market closed.

• Dangerous signal? The performance gap between the S&P 500 index equal weight stocks has reached a new extreme.

As major technology stocks rise while other market stocks underperform, the performance gap between the S&P 500 index and its equal-weighted stocks has reached an obvious new extreme. According to data from Dow Jones Market Data, since 1990, the performance of the traditional market capitalization-weighted S&P 500 index has exceeded the S&P 500 equal-weighted index by 2 percentage points or more for the first time in two consecutive weeks, and analysts say this has not happened since a few months before the bursting of the tech bubble in December 1999.

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

• S&P and Nasdaq hit new highs, Tesla rose more than 5%, Qualcomm, Broadcom hit new highs.

As of Monday's close, the S&P 500 index rose 0.77%, marking the 30th new closing high this year; the Nasdaq index rose 0.95% to 17857.02 points, reaching a new high every day since last Monday; the Dow Jones Industrial Index rose 0.49% to 38778.56 points.

Most of the major US technology giants rose at the end of Monday, with Apple up 1.97%, Microsoft up 1.31%, Amazon up 0.22%, Meta up 0.49%, Google-A up 0.25%, Tesla up 5.3%, and Nvidia down 0.68%.

Chinese concept stocks performed flatly, with the Nasdaq Golden Dragon Index down 0.05%. Alibaba was up 1.64%, Baidu was down 0.63%, Pinduoduo was down 0.46%, JD.com was up 1.63%, NetEase was down 0.08%, NIO Inc was up 2.31%, Li Auto Inc was down 1.91%, and XPeng was up 1.81%.

• Huang Renxun once again reduced his holding of Nvidia stocks.

After the trading session on Monday,$NVIDIA (NVDA.US)$The announcement of Huang Renxun received high attention from the market after the market closed on Monday: the company's CEO, Huang Renxun, started selling stocks again after a nine-month hiatus. According to documents filed on the SEC website, Huang Renxun sold 120,000 shares of the company's stock on June 13 and 14, totaling 240,000 shares, at prices ranging from $127.78 to $132.23, earning more than $31 million in cash. The last time he actually sold company stock was on September 14 last year, and Nvidia's stock price tripled in the following 9 months after the last sale.

• The US Supreme Court agrees to hear the Nvidia financial report false statement dispute.

The US Supreme Court made a decision on Monday to hear a case regarding investors accusing Nvidia and its management of misleading the market. The plaintiffs, investors from California, claimed that Nvidia and CEO Huang Renxun "intentionally" concealed the degree to which the company was dependent on the "mining" of the cryptocurrency in late 2018 before the stock price plummeted. The entire case had previously been dismissed by a district judge, and then the US Ninth Circuit Court of Appeals vacated the lower court's decision. Nvidia appealed to the US Supreme Court, and this is the latest development in response to that move.

• Favored by top ETF issuers, over 10 billion US dollars may flow from Apple to Nvidia.

The Dow Jones Global Technology Index ETF (XLK) will have its quarterly weight adjustment after the market closes on Friday. Currently, Apple and Microsoft each account for about 22% of XLK's weight, while Nvidia and Intel account for about 6%; in this adjustment, Nvidia and Microsoft each will account for about 21% of XLK's weight, while Apple will account for only about 4.5%. In terms of the scale of this fund, a 15% change in position means selling $10 billion worth of Apple stocks and buying an equal amount of Nvidia stocks.$Microsoft (MSFT.US)$ and $Apple (AAPL.US)$Apple previously accounted for about 22% of the weight and is now around 4.5%. Over $10 billion will be sold in Apple stocks and reinvested in Nvidia in the Dow Jones Global Technology Index ETF (XLK).$NVIDIA (NVDA.US)$In this adjustment, Nvidia and Microsoft each accounted for about 21%, while Apple had only about 4.5%. In terms of the size of this fund, a 15% change in position would mean selling $10 billion worth of Apple stocks and buying an equal amount of Nvidia stocks.

• Two Apple experts published articles on the same day: the iPad is just the beginning, and the iPhone and the watch will also strive to become thinner.

Well-known Apple leaker Mark Gurman wrote in his latest article that the new iPad Pro lays the foundation for thinner iPhones and other devices. Last month, Apple released hardware products like the iPad Pro at its “Spring New Product Launch”, where the thickness of the 13-inch iPad Pro was 5.1 mm, the thinnest Apple product ever.

• Can Microsoft rise another 25%? The degree of AI monetization continues to increase. Wedbush raises Microsoft's target price.

Wall Street investment bank Wedbush analyst Dan Ives raised its target price from $500 to $550 on June 16. The analyst emphasized that people are becoming more fascinated with Microsoft's AI product Copilot, and Microsoft's cloud computing service Azure is about to monetize, which are the main reasons he is bullish on Microsoft's prospects.$Microsoft (MSFT.US)$On Monday near the close, Musk posted on social media that he was dedicated to “master plan, part four” and said it would be an epic plan. As a prequel to this, Musk released “Master Plan, Phase Three” at the investor day in March last year, hoping to provide a feasible solution for global sustainable energy economics through terminal electrification, sustainable power generation, and storage.

• Musk: Developing "Phase IV of the Great Plan".

Social media users should follow all of the following rules when producing content.$Tesla (TSLA.US)$GameStop's CEO Ryan Cohen said on Monday that he would focus on turning the struggling company around while avoiding market speculation. As he spoke, GameStop's shares fell 12.13% on Monday.

• Berkshire Hathaway reduced its holding in BYD to 6.9%.

On June 17th (Monday), Southbound funds net bought HKD 3.78 billion of Hong Kong stocks.$GameStop (GME.US)$Berkshire Hathaway reduced its holding in Huachen China by over HKD 200 million while adding more than HKD 400 million to Tencent on June 14th.

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.

• Regarding retail sales rates, Federal Reserve elders Lisa Cook, Barkin and Collins made successive speeches on economics.

If I act only according to what I understand and don’t ask others how to do it, it will be easy and profitable. - by Jim Rogers

$TENCENT (00700.HK)$, $BANK OF CHINA (03988.HK)$, $CNOOC (00883.HK)$They respectively received a net buying of HKD 441 million, HKD 343 million, and HKD 285 million;

$BRILLIANCE CHI (01114.HK)$, $MEITUAN-W (03690.HK)$, $CHINA MOBILE (00941.HK)$And respectively suffered a net selling of HKD 240 million, HKD 179 million, and HKD 162 million.

• Berkshire Hathaway reduces its holdings in BYD, with a holding ratio of 6.9%

The Hong Kong Stock Exchange disclosed that the 'Stock God' Buffett's company, Berkshire Hathaway, reduced its holdings by 1.3475 million shares on June 11, with an average selling price of HKD 230.46 per share, resulting in a reduction of HKD 310 million and a reduction in the holding ratio from 7.02% to 6.9%.$BYD COMPANY (01211.HK)$Shareholding at an average price of HKD 230.46 per share, with a total reduction amount of HKD 310 million, resulting in a decrease in position ratio from 7.02% to 6.9%.

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: Retail Sales Monthly Rate; Fed Lisa Cook, Balkin, Collins.

In terms of economic data, the US retail sales rate for May, industrial output for May, and commercial inventory for April are about to be released on Tuesday.

The target price of GameStop by Wall Street investment bank Wedbush analyst Dan Ives was raised from $500 to $550 on June 16. The analyst emphasized that people are becoming more fascinated with Microsoft's AI product Copilot, and Microsoft's cloud computing service Azure is about to monetize, which are the main reasons he is bullish on Microsoft's prospects.

Regarding IPOs,$WUHAN YOUJI (02881.HK)$will be listed on the Hong Kong Stock Exchange; US stocks$Nova Minerals Ltd. (NVA.US)$, $Flag Ship Acquisition Corp. (FSHPU.US)$will be listed soon.

Futubull Morning News:

If I act only according to what I understand and don’t ask others how to do it, it will be easy and profitable.
Jim Rogers

Editor / ruby