Hot news

• Continue to be dovish! Powell said recent data has made him more confident that inflation will fall to 2%.

Federal Reserve Chairman Powell said that the second-quarter economic data has made policymakers more confident that inflation is falling toward the Fed's 2% target, which may pave the way for recent interest rate cuts. Powell emphasized recent inflation data, but made it clear that he does not intend to convey any information about the specific timing of interest rate cuts. He also further emphasized concerns about potential risks to the labor market while continuing to focus on controlling prices.

• Goldman Sachs: Federal Reserve has good reason to cut interest rates in July.

Goldman Sachs chief economist Jan Hatzius said they believe there is "good reason" for the Federal Reserve to cut interest rates at the July meeting, but it has not changed its forecast for the Fed to begin cutting interest rates in September. According to the latest unemployment and inflation data, the appropriate federal fund rate is 4%, while it is currently 5.25%-5.5%. Therefore, it is expected that interest rate cuts will soon begin. Reasons for taking action in July include the volatility of monthly inflation, which could make it difficult to explain interest rate cuts in September if there is a temporary resumption of acceleration, and the Fed's undeniable motivation to "avoid cutting interest rates in the final two months of the presidential campaign."

• The Republican Party formally nominated Trump as its presidential candidate, and Trump announced Pence as his vice presidential candidate.

On July 15th local time, the 2024 Republican National Convention opened, and the Republican Party formally nominated Trump as its presidential candidate. Trump announced James David Pence as his vice presidential candidate. The meeting will also pass the Republican campaign manifesto already released during the conference.

• Small cap stocks' "spring" is coming? Increased demand for call options related to the e-mini Russell 2000 index.

According to Mandy Xu, director of derivatives market intelligence at Cboe Global Markets, demand for call options related to the Russell 2000 index and ETFs that track the index has surged in the past few trading days, driving up premium trading for these contracts relative to put options. This suggests that there may still be upward space for small-cap stocks to rebound in the short term. Data from FactSet shows that the Russell 2000 index rose more than 20% in the period from early November to early December last year, outperforming the S&P 500 index and the Nasdaq Composite Index.

• Hedge funds are accelerating their escape from the AI bubble, and TMT stocks have been sold off for four consecutive weeks, with technology stocks breaking records for low allocation ratios.

Goldman Sachs Prime Services desk's latest report states that hedge funds have been selling information technology and communication services stocks for four consecutive weeks, with non-essential consumer goods becoming their new favorites. In the past eight weeks, hedge funds have had net sales for seven weeks. In the information technology sector, except for IT services, almost all sub-industries have had net sales, mainly involving software, technology hardware, and electronic equipment. In the communications services sector, interactive media and services, entertainment, and diversified telecommunications services have had net sales exceeding the net purchase volume of the media industry.

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

• Dow hits historic closing high, Trump concept stocks steal the show.

On Monday, the S&P 500 index rose 0.28% to 5631.22 points; the Nasdaq index rose 0.4% to 18472.57 points; and the Dow Jones Industrial Index rose 0.53% to 40211.72 points.

US tech giants rose and fell. Among them, Apple rose 1.68%, Microsoft rose 0.09%, Amazon fell 0.91%, META fell 0.54%, Google-A rose 0.79%, Tesla rose 1.78%, Nvidia fell 0.62%, and Intel fell 0.09%.

Chinese concept stocks performed weakly, with the Nasdaq Golden Dragon Index falling 3.64%. Alibaba fell 2.06%, Baidu fell 5.98%, Pinduoduo fell 3.11%, JD.com fell 5.33%, Netease rose 0.93%, NIO fell 4.93%, Li Auto Inc. fell 3.2%, and Xpeng fell 4.98%.

Trump concept stocks performed well, with Trump Media & Technology Group rising 31.37%, Rumble rising 20.71%, MicroStrategy rising 15.36%, and Coinbase rising 11.39%.

• Apple renewed its historic high, and Goldman Sachs listed it as its preferred stock.

According to insiders, in the 12 months ending in March of this year,$Apple (AAPL.US)$According to insiders, in the 12 months ending in March of this year, Apple's revenue in India increased by about 33% from the same period last year to nearly $8 billion, of which the iPhone accounted for more than half of the sales. In addition, Goldman Sachs raised its target stock price for Apple ($216 to $273) and listed it as its preferred stock, citing the upcoming launch of the Apple Intelligence artificial intelligence (AI) platform, which is expected to significantly boost hardware sales.

• Musk indirectly admitted that Robotaxi would be delayed.

On Monday local time, Musk responded to rumors that Robotaxi, the self-driving taxi, had been postponed. He said on social media that he had asked for important design changes to the front of the Robotaxi, and the additional time from the delayed release date would give the company a chance to showcase some other content.$Tesla (TSLA.US)$After being included in the Nasdaq 100 Index, Super Micro Computer opened high and then fell sharply.

• Affected by the announcement of its inclusion in the Nasdaq 100 Index last week, the company rose over 5% after Monday's opening, but then came under pressure, ultimately closing down 1.35%. As a concept stock of Nvidia, the recent sideways trend of the AI leader's stock has also affected the performance of Super Micro Computer.

Affected by last week's announcement by NASDAQ.$Super Micro Computer (SMCI.US)$The market is accelerating the "Trump Trade," and the Trump Media Technology Group is up over 31%.

• Since its listing in March, the stock has fluctuated greatly, with traders reacting to changes in the odds of Trump and current President Joe Biden winning the election. Trump has majority ownership of the company, which operates the social media platform Truth Social, launched after Trump was banned from major websites for his role in the January 6, 2021 Capitol riots.

The Trump Media Technology Group rose more than 31% on Monday, but fell nearly 10% after hours.$Trump Media & Technology (DJT.US)$Macy's fell nearly 12%, terminating talks with Arkhouse and Brigade.

The Macy's board of directors unanimously decided to terminate discussions with Arkhouse and Brigade after months of contact, as the two parties were unable to come up with a viable plan for financing at a convincing value.

• Macy's plunged more than 15% intraday.

$Macy's (M.US)$Announced that after months of contact with Arkhouse Management and Brigade Capital Management, the board of directors of Macy's unanimously decided to terminate discussions with Arkhouse and Brigade due to the inability to reach a feasible solution and determine financing with convincing value.

Top 20 turnover: Trump Media Technology rose more than 30%, traders bet on the presidential election prospects; Apple hit a historic high again, rated as a top pick by Goldman Sachs.

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.

• On July 15 (Monday), southbound funds net bought HKD 4.871 billion of Hong Kong stocks.

$CSOP Hang Seng Tech Index ETF (3033.HK)$ respectively received a net purchase of HKD 1.194 billion, HKD 0.609 billion and HKD 0.256 billion; respectively suffered a net sale of HKD 0.379 billion, HKD 0.127 billion and HKD 64.68 million.

$TRACKER FUND OF HONG KONG (02800.HK)$,$Hang Seng H-Share Index ETF (02828.HK)$,$CSOP Hang Seng TECH Index ETF (03033.HK)$Received net purchases of HKD 1.194 billion, HKD 0.609 billion, and HKD 0.256 billion respectively;

$CHINAHONGQIAO (01378.HK)$,$CNOOC (00883.HK)$,$GENSCRIPT BIO (01548.HK)$Received net sales of HKD 0.379 billion, HKD 0.127 billion, and HKD 64.68 million, respectively.

• Ping An Insurance: to issue $3.5 billion convertible bonds.

$PING AN (02318.HK)$Hong Kong Exchanges and Clearing Limited announced that it plans to issue $3.5 billion 0.875% convertible bonds due in 2029 under the general authorization. The initial conversion price is HKD43.71 per H share (adjustable). The net proceeds from the issuance of the bonds will be used to meet the future business development needs with finance as the core and to supplement the capital needs of the Group; to support the strategic development of medical and retirement business of the Group; and for general corporate purposes.

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: US retail sales monthly rate in June; UnitedHealth, Bank of America, and Goldman Sachs earnings report.

On Tuesday, the U.S. will release June's month-on-month retail sales, June's month-on-month import and export price index, and July's NAHB housing market index.

Regarding financial reports,$UnitedHealth (UNH.US)$,$Bank of America (BAC.US)$,$Morgan Stanley (MS.US)$,$State Street (STT.US)$The financial report will be released before the pre-market trading in the U.S.

Futubull Morning News:

"Wealth" refers to the quality of your life, not how much money you make. To experience the taste of being wealthy, it is not necessary to have billions of dollars in assets. Instead, it is about finding a way of life that suits you.

-[US] Rockefeller

Editor/Emily