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• Senior officials of the Federal Reserve have spoken intensively: the reduction of inflation has been effective, and interest rate cuts should be based on data and require patience.

On Tuesday, Federal Reserve officials started speaking intensively. William Williams, President of the New York Federal Reserve, Thomas Barkin, President of the Richmond Federal Reserve, and Eric Rosengren, President of the Boston Federal Reserve, all stated that although anti-inflation had achieved success, future interest rate cuts must be based on economic data and require more patience. Federal Reserve Board member Lael Brainard said that if the economy develops as she expected, it may be appropriate to cut interest rates later this year.

• Expected to increase by 27%: the Congressional Budget Office estimates that the US government's budget deficit will be nearly $2 trillion this year.

On June 18th, the Congressional Budget Office (CBO) released its latest forecast, showing that the US's budget deficit is expected to reach 1.92 trillion US dollars this year, higher than $1.69 trillion in 2023. CBO's latest estimate is more than $400 billion higher than the February forecast, with an adjustment rate of up to 27%. CBO expects that the deficit in each of the ten years to 2034 will be equal to or greater than 5.5% of GDP, the first time it has maintained a high percentage for more than five consecutive years since 1930. CBO's expected time for Federal Reserve interest rate cuts has been pushed back from mid-year to the first quarter of next year.

• 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.

Bank of America's institutional clients continued to flood into the U.S. stock market for the second consecutive week, with the largest increase in technology stocks and social media concept stocks. Relevant stocks and ETFs received inflows of $1.3 billion in the past week. Last week, the buyback scale of Bank of America's subsidiary clients was the third highest in the bank's weekly data record since 2010. Of the buybacks announced by S&P 500 companies this year, 65% came from the technology and communications services industries.

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

• The Nasdaq hit a seven-day closing high, and Nvidia's market cap is now the largest among US stocks.

As of Tuesday's close, the S&P 500 index rose 0.25% to 5,487.03 points, reaching a new closing high for the 31st time this year; the Nasdaq index rose 0.03% to 17,862.23 points, setting a new closing high for the seventh consecutive trading day; and the Dow Jones Industrial Average rose 0.15% to 38,834.86 points.

A key milestone event in the global capital market has been reached: after a 300-fold increase in stock prices over the past decade, the AI leader Nvidia has finally ascended to the throne of "Global Stock King"; in other technology stocks, Microsoft, Apple, Google, Amazon, Meta, Broadcom, and Tesla all fell.

Among the chip stocks, ARM, TSMC ADR, Qualcomm, Micron Technology, Lam Research, Applied Materials, and Oracle all achieved new highs.

• For the first time in history! Nvidia becomes the highest market value stock in the world, and bullish analysts see its market value rise to nearly $5 trillion next year.

$NVIDIA (NVDA.US)$It closed up 3.51% at $135.58, with a total market value of $3.34 trillion, surpassing Microsoft and Apple to become the highest market value stock in the world. The most optimistic analyst believes that the trend of this semiconductor giant has not yet come to an end, and its market value is expected to climb to nearly $5 trillion next year. Rosenblatt Securities analyst Hans Mosesmann raised the chip maker's target price from $140 to $200 on Tuesday, a Wall Street high. Mosesmann has been bullish on the stock since 2017 and has maintained a buy rating. He is optimistic about Nvidia's hardware products but points out that the combination of Nvidia's software and hardware is the company's true highlight.

• Apple has paused the development of its next-generation high-end headset and will focus on releasing a more affordable Vision Pro next year.

According to reports, due to the slowing sales of Vision Pro devices, Apple has recently decided to suspend the development of high-end Vision Pro and plans to launch a less functional and more affordable version-N109 before the end of 2025. The expected selling price is $1,500, far below the starting price of Vision Pro of $3,500. Apple also attempted to make N109 at least one third lighter than Vision Pro. After the news was announced, Apple's stock price weakened, finally falling 1.1%.

• TSMC rose more than 1% and hit a new historical high.

$Taiwan Semiconductor (TSM.US)$US stocks rose more than 1%, hitting a record high again. With the global semiconductor market continuing to rise, Taiwan Semiconductor has been hinting at the possibility of a price increase, and market expectations have subsequently been raised. In a recent research report, JPMorgan significantly raised its earnings-per-share expectations for TSMC over the next few years. The report analyzed that this was mainly due to the acceleration in demand for datacenters and AI, especially the price increase of N3 and N5 process technology and advanced packaging technology.

• Hewlett Packard Enterprise and Nvidia jointly launched a new generation of AI solutions. Antonio Neri, CEO of HPE, and Nvidia CEO Jensen Huang jointly attended the HPE Discover 2024 conference on Tuesday and announced a new AI solution called "NVIDIA AI Computing by HPE." One of the main products of this solution is the HPE AI Private Cloud, which is the first solution to deeply integrate Nvidia's AI computing, networking and software, as well as HPE's AI storage, computing, and GreenLake cloud.

$Hewlett Packard Enterprise (HPE.US)$After CEO Antonio Neri and Nvidia CEO Jensen Huang attend the HPE Discover 2024 Conference together, they announced a new AI solution called "NVIDIA AI Computing by HPE." One of the main products of this solution is the HPE AI Private Cloud, which is the first solution to deeply integrate Nvidia's AI computing, networking and software, as well as HPE's AI storage, computing, and GreenLake cloud.

• US nuclear power continues to benefit, and NuScale Energy rose more than 12%. On Tuesday, energy rose 12.24%, a significant increase from the previous day's 3.79%, still thanks to the US Department of Energy's policy. The department announced on Monday that it will provide $900 million in support of the deployment of small modular nuclear reactors. Among them, up to $800 million in funding will be provided to a maximum of two "pioneer teams," and $100 million will be used to support design, licensing, supplier development and site preparation.

US small modular nuclear power plant developers$NuScale Power (SMR.US)$Energy rose more than 12% on Tuesday, and the increase from the previous day's 3.79% was significantly expanded, and the positive news still came from the US Department of Energy's policy. The department announced on Monday that it will provide $900 million in support of the deployment of small modular nuclear reactors. Among them, up to $800 million in funding will be provided to a maximum of two "pioneer teams," and $100 million will be used to support design, licensing, supplier development and site preparation.

• Trump Media & Technology Group emphasizes that it "cannot be restrained" by Trump

After-market on Tuesday,$Trump Media & Technology (DJT.US)$Its stock price fell more than 13%. The company announced that the registration statement submitted to the SEC has become effective and will issue nearly 21.5 million common shares to investors who exercise warrants. What the market is concerned about is that the listed company has also revised its prospectus, warning investors that the company is almost unable to prevent Trump from using other social media platforms, which may have a significant adverse impact on the company's business operations.

In early June this year, Trump opened an account on the short video platform TikTok, and now has 6.4 million fans, while his Truth Social account, which he has operated for many years, has only 7 million fans.

• Boeing's "Starliner" spacecraft postponed its return to Earth for the third time

NASA announced on Tuesday that the time for the "Starliner" and its first batch of astronauts to return to Earth has been postponed to June 26. If it cannot return at that time, there will be another opportunity on July 2. Previously, on June 11, NASA announced that the return time of the "Starliner" would be delayed by four days, from June 14 to no earlier than June 18. By June 14, NASA announced that the spacecraft's return time would not be earlier than June 22.$Boeing (BA.US)$"Starliner" and its first batch of astronauts

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.

• Beishui added more than HKD 500 million to Bank of China, and sold nearly HKD 300 million to Tencent

On Tuesday, southbound funds net bought HKD 5.861 billion in Hong Kong stocks.

$CCB (00939.HK)$, $ZIJIN MINING (02899.HK)$, $CHINA MOBILE (00941.HK)$Net buy of HKD 550 million, HKD 539 million and HKD 518 million respectively.

$TENCENT (00700.HK)$, $MEITUAN-W (03690.HK)$Net sold HKD 275 million and HKD 67.64 million respectively.

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: Minutes of the Bank of Japan meeting; US stocks closed

On Wednesday, in terms of economic data, the June NAHB Housing Market Index is about to be released.

In terms of financial events, the Bank of Japan will announce the minutes of the April monetary policy meeting.

In addition, the US stock market is closed for one day due to June holidays.

Futubull Morning News:

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