Hot News
Trump officially signed the order, raising Steel and Aluminum tariffs to 50%.
On June 3, local time, the White House in the United States issued a statement stating that President Trump announced the increase of the import tariff on steel and Aluminum and their derivatives from 25% to 50%. This tariff policy will take effect at 00:01 AM Eastern Time on June 4, 2025. The statement mentioned that the tariff on steel and Aluminum imported from the United Kingdom will remain at 25%. Starting from July 9, 2025, the United States may adjust the applicable tariff rate in accordance with the provisions of the Environmental Policy Statement and set import quotas for steel and Aluminum. If the United Kingdom is found to be non-compliant with the relevant provisions of the Environmental Policy Statement, the applicable tariff rate may be raised to 50%.
The White House confirmed sending a letter to urge trade negotiation partners to submit proposals.
On June 3 local time, the White House Press Secretary confirmed the authenticity of the letter regarding Trade negotiations deadline. She stated that the U.S. Trade Representative's Office sent this letter to remind these countries that the deadline is approaching, and President Trump looks forward to reaching a good agreement. According to Reuters, with only five weeks left until the reciprocal tariffs are set to resume, the Trump administration issued an urgent letter requesting countries to submit their best proposals for trade negotiations by Wednesday. A draft letter obtained by Reuters from the U.S. Trade Representative's Office shows that the U.S. government is pressuring negotiating partners to provide their best proposals in key areas, including tariffs and quota plans for purchasing U.S. agricultural and industrial products.
Federal Reserve's Bostic: There is no rush to adjust interest rates and only expects to cut rates once this year.
On Tuesday local time, the President of the Atlanta Federal Reserve, Bostic, stated that there is no rush to adjust the benchmark interest rate. He noted that although recent price data is encouraging, there is still a long way to go in combating inflation, and a complete victory has not yet been achieved. Bostic mentioned that many economic models indicate that future prices may face some upward pressure, so caution is needed regarding interest rate cuts. He reiterated that the Fed is expected to cut rates only once this year (by 25 basis points), and other officials also stated that they would maintain stable rates.
However, economists at ING Groep believe that the Fed may significantly cut rates by 50 basis points in December. Research from the Atlanta Fed indicates that price increases related to tariffs will manifest in the coming weeks; however, the impact of tariffs on prices will be one-time, which will allow the central bank to boost the slowing economy by cutting rates later.
In April, job vacancies in the United States unexpectedly increased, supporting the claim that the job market is in good condition according to the Federal Reserve.
In April, job vacancies in the United States unexpectedly increased significantly, with a rise in hiring, indicating that despite escalating economic uncertainty, demand for workers remains healthy. Data released by the U.S. Bureau of Labor Statistics on Tuesday showed that job vacancies rose from a revised 7.2 million in March to 7.39 million, exceeding the expected 7.1 million. The increase in job vacancies was driven by private sectors such as professional and business services, healthcare, and social assistance. While state and local education led to a decrease in total government job vacancies, federal government job vacancies increased. The rise in job vacancies, combined with steady hiring and low unemployment rates, supports the Federal Reserve's claim about the good condition of the job market. However, unemployed individuals are expected to take longer to find jobs, and economists predict that the labor market will show more noticeable signs of weakness in the coming months under the pressure of tariffs imposed by President Trump.
Post-Market Trading
The three major indexes collectively rose, with NVIDIA gaining nearly 3%, reclaiming its position as the world's most valuable company.
On Tuesday, Eastern Time, the three major indexes ended the day higher, with the Nasdaq leading the major indexes, marking a shift to an upward trend for the year, the first time since February. At the close, the Dow Jones Industrial Average rose by 0.51%, the S&P 500 Index increased by 0.58%, and the Nasdaq Index climbed by 0.81%.
In the star technology stocks, NVIDIA and other chip stocks drove the upward trend, with NVIDIA rising nearly 3%, surpassing Microsoft in market value, becoming the highest-valued company globally, while Broadcom and Micron Technology rose by more than 3% and 4% respectively. Apple rose by 0.78%, Microsoft increased by 0.22%, Google fell by 1.69%, Amazon declined by 0.45%, Meta decreased by 0.60%, and Tesla gained 0.46%.
Most popular Chinese concept stocks closed up, with the Nasdaq Golden Dragon China Index up 0.56%, Alibaba up 0.19%, JD.com down 1.37%, PDD Holdings up 1.96%, NIO up 0.28%, Xpeng Motors up 1.92%, Li Auto up 6.07%, Bilibili down 2.49%, Baidu up 0.83%, NetEase up 2.32%, and Tencent Music up 0.12%.
The nuclear power sector continues to perform strongly.$Nine Energy Service (NINE.US)$、 $Energy Fuels (UUUU.US)$ Increased nearly 15%, $Uranium Energy (UEC.US)$ Increased over 11%, on the news front, technology giant Meta has reached a 20-year agreement with Constellation Energy, the largest nuclear power plant owner in the United States, aiming to meet the electricity demand generated by the artificial intelligence (AI) boom.
It is worth noting that President Trump recently signed four executive orders aimed at accelerating nuclear deployment, setting a goal to increase U.S. nuclear power output by four times by 2050. Additionally, the executive orders call for a comprehensive reform of the Nuclear Regulatory Commission and the establishment of a domestic nuclear fuel supply chain.
Broadcom Tomahawk 6 chip enters mass production, breaking through the AI computing power bottleneck and attracting major companies to purchase.
$Broadcom (AVGO.US)$ The battle for the upgrade of AI computing infrastructure officially begins. Ram Velaga, head of the company's core switching division, revealed that the Tomahawk 6 switching chip, regarded as the "heart of AI networks," has started delivery over the weekend, with initial customers including leading cloud service providers and network equipment manufacturers, set to fully enter the data center market in July. This revolutionary product carries the responsibility of breaking through the AI computing bottleneck.
Although Velaga did not disclose the list of initial customers for Tomahawk 6, he mentioned that the customer base includes some large cloud service providers and network companies integrating Broadcom technology into their products. Velaga also noted that many Broadcom customers are queuing up, hoping to use Tomahawk 6 to build systems that include over 0.1 million GPUs.
NVIDIA's 'favorite' CoreWeave rises over 25% again, surging 238% since its listing.
Tuesday, $CoreWeave (CRWV.US)$Rising over 25% again, on the news, NVIDIA's favorite CoreWeave and held stocks. $Applied Digital (APLD.US)$ A new AI data center lease agreement has been signed, which will provide CoreWeave with 250 megawatts of critical IT load, and is expected to generate about 7 billion dollars in revenue for Applied Digital over the course of the contract.
Cybersecurity giant CrowdStrike dropped over 6% in after-hours trading, with Q1 revenue reaching 1.1 billion dollars, and Q2 revenue forecast falling short of expectations.
On June 3, Eastern Time, the cybersecurity company $CrowdStrike (CRWD.US)$ reported its Q1 performance in after-hours trading, with its stock price falling over 6% due to the disclosed Q2 revenue forecast being below market expectations. The company expects Q2 sales to reach a maximum of 1.15 billion dollars, below the analyst average forecast of 1.16 billion dollars. According to the statement, for the first fiscal quarter ended April 30, the company reported revenue of 1.1 billion dollars, in line with analyst expectations, representing a year-on-year growth of nearly 20%, but a net loss of 0.1102 billion dollars, with earnings per share of 44 cents, compared to net income of 42.8 million dollars and earnings per share of 17 cents in the same period last year.
Wells Fargo & Co surged over 12% in after-hours trading as a seven-year regulatory constraint ends! The Federal Reserve lifted Wells Fargo's asset growth restrictions.
The Federal Reserve announced on Tuesday that it officially lifted the restrictions imposed on assets since 2018. $Wells Fargo & Co (WFC.US)$ The imposed asset growth restriction. This limitation stems from the shocking fake account scandal that swept across the United States in 2016, which was considered one of the most severe penalties in U.S. regulatory history. Following the announcement, Wells Fargo's stock price surged over 12% in after-hours trading.
The Federal Reserve stated in a statement: "Wells Fargo has met all the conditions for lifting the growth restriction outlined in the 2018 regulatory order. The lifting of the growth limitation reflects the bank's significant progress in addressing its deficiencies." However, the Federal Reserve emphasized that other provisions of the 2018 regulatory order will remain in effect until the bank fulfills all compliance requirements.
JOBY shares rose by 7%, collaborating with Saudi investors with the potential to deliver 200 electric aircraft in the future.
On Tuesday local time, the well-known Saudi company AlNimr announced on its official website that it has $Joby Aviation (JOBY.US)$ signed a memorandum of understanding, and the two parties will explore opportunities to establish a distribution agreement for Joby's eVTOL in Saudi Arabia. In the coming years, the two sides are expected to deliver up to 200 Joby Aviation aircraft and related services, with a total transaction value anticipated to approach 1 billion dollars.
The statement pointed out that this cooperation is the strategic first step for future expansion into the entire Middle Eastern market, but did not disclose the timeline for the first batch of deliveries and the specific execution period of the transactions. Joby is one of the few pioneering companies developing electric vertical takeoff and landing aircraft (eVTOL), dedicated to providing short-distance commuting services for passengers through battery-powered air taxis.
Hims & Hers Health soared more than 15% during trading hours, announcing the acquisition of the European digital health platform ZAVA.
Tuesday, $Hims & Hers Health (HIMS.US)$Announced the acquisition of the European digital health platform ZAVA as part of a global expansion plan. The terms of the deal were not disclosed. This strategic move is expected to expand the company's Business in the United Kingdom and officially enter the markets of Germany, France, and Ireland.
Hims & Hers is expected to enter more markets soon, stating that it will use the ZAVA platform to establish its brand image in each European market over the next few quarters. The deal is expected to create value by 2026. This 100% cash acquisition will be funded from the company's balance sheet after the transaction is completed. The deal is expected to close in the second half of the year. Following this news, the company's stock opened up over 17% at one point but closed down 3.59%.
Surge in demand for affordable necessities! Dollar General increased nearly 16%, Q1 performance exceeded expectations, and raised full-year profit guidance.
On Tuesday, the discount retail giant $Dollar General (DG.US)$ reported better-than-expected first-quarter results while slightly raising its full-year profit guidance: first-quarter earnings per share were $1.78, beating the FactSet consensus estimate of $1.49. Revenue increased from last year's $9.91 billion to $10.44 billion, surpassing analysts' expectations of $10.29 billion in revenue. The company also stated that it had implemented effective measures to address the impact of current tariff policies.
Top 20 trading volumes.
Hong Kong Market Outlook
The northern capital increased its positions in MEITUAN-W by nearly 1.1 billion Hong Kong dollars, aggressively accumulating China Construction Bank Corporation by nearly 1 billion Hong Kong dollars, and sold over 1.1 billion Hong Kong dollars of XIAOMI-W.
On June 3rd (Tuesday), southern capital net purchased Hong Kong stocks amounting to 3.905 billion Hong Kong dollars.
$MEITUAN-W (03690.HK)$、$China Construction Bank Corporation (601939.SH)$、$CSPC PHARMA (01093.HK)$Net purchases of 1.089 billion Hong Kong dollars, 0.976 billion Hong Kong dollars, and 0.93 billion Hong Kong dollars were made respectively.
$TRACKER FUND OF HONG KONG (02800.HK)$、$XIAOMI-W (01810.HK)$、$TENCENT (00700.HK)$Net sales of 1.939 billion Hong Kong dollars, 1.131 billion Hong Kong dollars, and 0.625 billion Hong Kong dollars occurred respectively.
NIO's Q1 revenue increased by 21.5% year-on-year, with a vehicle gross margin of 10%, and the Q2 delivery guidance is expected to increase by 71%-78% quarter-on-quarter.
On June 3rd, $NIO-SW (09866.HK)$ In the first quarter of 2025, total revenue increased by 21% year-on-year, reaching 12.035 billion yuan, but decreased by 38.9% quarter-on-quarter. The net loss was 6.75 billion yuan, an increase of 30.2% year-on-year and a decrease of 5.1% quarter-on-quarter. In the first quarter, new car deliveries were 42,094 units, with a year-on-year increase of over 40% and a quarter-on-quarter decrease of 42.1%. Looking ahead to the second quarter of 2025, NIO expects delivery volumes to be between 0.072 million and 0.075 million units, representing a year-on-year growth of approximately 25.5% to 30.7% and a quarter-on-quarter growth of 71% to 78%. The revenue guidance is set at 19.513 billion yuan to 20.068 billion yuan, indicating a year-on-year increase of 11.8% to 15.0%.
Today's focus.
Keywords: U.S. ADP employment figures, U.S. ISM Non-Manufacturing PMI, Bank of Canada announces interest rate decision.
On Wednesday, economic data will be released, including the US ADP employment figures, US S&P Global services PMI final, and US ISM non-manufacturing PMI.
In terms of financial events, the 2025 FOMC voting member and Chicago Fed Chairman Goolsbee will participate in a Q&A session; subsequently, the 2027 FOMC voting member, Atlanta Fed Chairman Bostic, and Fed Governor Lisa Cook will attend the "Federal Reserve Listening" event; at 21:45 Beijing time, the Bank of Canada will announce its rate decision.
Futubull Morning Reading:
Start saving money and invest early; this is the best habit to cultivate.
—— Warren Buffett
Editor/joryn
