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• "Xinmei Federal Reserve News Agency" evaluates CPI in June: Mild inflation opens the door for a rate cut in September.

Nick Timiraos, a well-known financial journalist known as the 'new Fed communication agency', said that the moderate growth of June CPI was mainly due to the decline in housing-related inflation, and the market felt relieved about the Fed's interest rate cut. Most of the expectations for a rate cut in September have been reflected in the price, and the same is true for the second rate cut in December. The market indicates that the possibility of a third rate cut this year is increasing. He believes that a major issue at this month's Federal Reserve meeting is how much foundation Fed officials have laid for a rate cut in September.

• US June CPI is generally cooling, US Federal Reserve officials unanimously support the situation.

US June non-seasonal CPI recorded a year-on-year rate of 3.0%, lower than the market expected 3.1%, and fell to the lowest level since June last year. Chicago Federal Reserve Chairman Guolsby said that the inflation report for June was excellent, and based on the data, a rate cut or a series of rate cuts could be considered. Daly, the president of the San Francisco Fed, said that based on various data, it may be necessary to adjust monetary policy, and that it is appropriate to cut interest rates 1-2 times this year. Muskalem, the president of the St. Louis Fed, believes that recent data indicates progress has been made on inflation, and hopes that data will give him confidence in predicting that inflation will reach 2% mid-next year or the end of next year.

• Has the style of the US stock market changed? US inflation is good news, and the seven giants have suffered heavy losses, while small-cap stocks have soared.

US June inflation is all cooler than expected, and the overall CPI growth rate has turned negative for the first time in four years, while the core CPI growth rate has reached a new three-year low year-on-year. Overnight, the Nasdaq 100 fell 2.2%, and the small-cap stock index, the Russell 2000, surged 3.6%. Large technology stocks showed a 'sell-the-fact' attitude during the day. The performance of the US stock market on Thursday highlighted the extremely differentiated trends of large technology stocks and small-cap stocks, which was the worst performance of the Nasdaq 100 index relative to the Russell 2000 index since January 2021.

• The yen skyrocketed nearly 3%, and Japanese media reported that the authorities intervened.

The yen suddenly skyrocketed after the CPI data was released, and the increase was once expanded to nearly 3%, reaching a high of 157.40. Japanese media reported that Japanese authorities intervened, and officials refused to comment and said they would wait for the data at the end of the month to see what happens.

• Not optimistic about oil prices! IEA lowers forecast for oil demand growth rate in 2025, while raising supply expectations.

The International Energy Agency (IEA) pointed out in its monthly report that the expected growth rate of global oil demand will be lowered from 1 million barrels per day to 0.98 million barrels per day next year, and the total expected average demand is currently 0.104 billion barrels per day. In addition, the IEA expects that the total supply of oil this year will be an average of 0.103 billion barrels per day, and in 2025 it will be 0.1048 billion barrels per day, higher than the previous forecast of 0.1029 billion barrels per day and 1.047 billion barrels per day.

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

• Nasdaq fell nearly 2%, the seven giants sold out the largest in a year and a half, and China concept stocks launched a counterattack.

The three major indexes of the US stock market rose and fell, and the S&P 500 and Nasdaq ended their continuous highs, while the Dow rose for two consecutive days. At the close, the S&P 500 index fell 0.88% to 5,584.54 points; the Nasdaq Composite index fell 1.95% to 18,283.41 points, both ending the seven-day rally; and the Dow Jones Industrial Average rose 0.08% to 39,753.75 points.

Large technology stocks collectively fell, Tesla fell more than 8%, ending its 11-day rally, Nvidia fell more than 5%, and Meta fell more than 4%. Apple, Microsoft, Google, and Amazon all fell more than 2%.

Most popular China concept stocks rose, with Xpeng up more than 7%, JD up nearly 7%, LI Auto and Alibaba up more than 3%, Baidu up nearly 3%, NIO up more than 1%, and PDD Holdings up nearly 1%.

• Bearish ambush! It is rumored that Robotaxi will be delayed until October for release, and Tesla's stock price fell more than 8%.

As of 2023, the company's overall sales volume was 18,000 kiloliters, which is a significant growth of +28.10% compared to the previous year. In terms of product structure, the operating income of products with an amount between 100-300 billion yuan is 401/1288/60 million yuan, respectively. $Tesla (TSLA.US)$The planned RoboTaxi rental car press conference has been postponed from August to October, so that the team responsible for the project has more time to manufacture additional prototype vehicles, and redesign some elements of RoboTaxi. Stimulated by this news, Tesla's stock closed down 8.44% on Thursday, ending its previous 11-day upward trend.

• After repeated setbacks in the development of GLP-1 oral weight loss drugs, Pfizer is bringing its latest and greatest product back to the track.

The US pharmaceutical giant, which was 'repeatedly attacked' during the development of the GLP-1 weight loss drug,$Pfizer (PFE.US)$issued a statement on Thursday stating that based on the results of pharmacokinetic research currently underway, the company has selected a preferred modified sustained-release formulation for the once-daily oral GLP-1 weight loss drug Danuglipron. The company is preparing to conduct dose optimization studies in the second half of this year to evaluate the different doses of this formulation and prepare for the initiation of clinical trials for registration. Stimulated by this news, Pfizer rose nearly 3% at one point and ultimately rose more than 1%.

• Xpeng rose more than 7%, and X9's sales volume in the first half of the year was 13,143 units plus He Xiaopeng's response to the new model.

$XPeng (XPEV.US)$Xpeng has announced that X9 has been the top-selling high-end pure electric MPV in monthly sales rankings since its official launch on January 1st, ranking first for six consecutive months, with a cumulative sales of 13,143 units in the first half of this year.

Regarding the recent rumors about the new model of Xpeng, He Xiaopeng, the director of Xpeng, said on Weibo today that this new product is named P7+, with a dimension exceeding 5 meters. In addition, he also released the official images of Xpeng P7+, which continues the classic design of Xpeng and uses a hatchback body.

• MicroStrategy closed up more than 4%, and plans to split its shares in a ratio of 1:10.

$MicroStrategy (MSTR.US)$Up more than 4% overnight, MicroStrategy's board of directors has agreed to split the stock at a ratio of 1:10, which will take effect after the close on August 7. MicroStrategy began buying and holding bitcoin in 2020 and has since become the largest corporate holder.

• Alcoa rose nearly 2%, with preliminary Q2 performance data exceeding market expectations.

$Alcoa (AA.US)$Up nearly 2%, Alcoa released preliminary Q2 performance data with adjusted earnings per share of $0.08-$0.19 and revenue of $28.5 billion-$29.25 billion, compared to analyst expectations of $0.06 per share and $27.7 billion revenue.

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 funds grabbed nearly HKD 0.3 billion in Meituan, while selling more than HKD 0.5 billion in Tencent.

On Thursday, July 11th, southbound funds net bought HKD 0.474 billion in Hong Kong stocks.

$MEITUAN-W (03690.HK)$,$CHINA MOBILE (00941.HK)$,$XIAOMI-W (01810.HK)$Net purchases of HKD 0.297 billion, HKD 0.145 billion, and HKD 0.129 billion respectively;

$TENCENT (00700.HK)$,$XPENG-W (09868.HK)$,$CNOOC (00883.HK)$Net sales of HKD 0.53 billion, HKD 0.262 billion, and HKD 0.143 billion 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: usa PPI; JPMorgan, Citigroup earnings.

On Friday, as for economic data, investors can pay attention to USA PPI for June and the initial Michigan consumer sentiment index for July.

Regarding financial reports,$JPMorgan (JPM.US)$and $Citigroup (C.US)$Earnings will be announced before pre-market trading.

Futubull Morning News:

It is more important to know what not to do than what to do.
Gemini, Claude, Perplexity, and other large models under the auspices of AnthropicAI have successively failed. According to the analysis of QR Code Generator, the search volume of Google's AI chatbot Gemini surged 60%, reaching 32.7 times within four hours after ChatGPT's first outage.

Editor/Somer