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On Tuesday, during Pre-Market Trading in the U.S., as the first meeting of the China-U.S. consultation mechanism takes place, the three major Equity Index futures in the U.S. show slight gains.
Star technology stocks exhibit mixed performance, $Tesla (TSLA.US)$、 $Taiwan Semiconductor (TSM.US)$ Increased by over 2%, $NVIDIA (NVDA.US)$、 $Micron Technology (MU.US)$Increased by over 0.5%, $Apple (AAPL.US)$ Slightly decreased by 0.12%.
Popular Chinese concept stocks in Pre-Market Trading, $Tencent Music (TME.US)$ Increased by over 5%, $KE Holdings (BEKE.US)$ Increased by over 2%, $NIO Inc (NIO.US)$ Up over 1%,$PDD Holdings (PDD.US)$、 $Li Auto (LI.US)$Approximately down by 1%, $Chagee Holdings (CHA.US)$ Dropped nearly 2%.
Tesla rose over 2% in Pre-Market Trading, and signals of reconciliation between Trump and Musk have reappeared.
During a press conference on Monday, Trump took a more Neutral tone towards Musk. Trump stated that he would not get rid of his purchased Tesla Model S but might relocate it. He also mentioned that he would not stop Musk's Starlink service, calling it a 'great service' and wishing Musk 'all the best, very well.' When asked if Musk has ever used drugs in the White House, Trump said he did not know, but hoped Musk had never done so. Trump's remarks released more signals of reconciliation, marking the latest sign of easing tensions between the two. $Tesla (TSLA.US)$ Rose over 2% in Pre-Market Trading.
Tencent Music rose over 5% in Pre-Market Trading, planning to acquire Himalaya Holdings, with a total acquisition cash amount of $1.26 billion.
On June 10, $Tencent Music (TME.US)$ An announcement was made stating that a merger agreement was signed with Himalaya, planning to fully acquire Himalaya using cash of 1.26 billion USD (approximately 9.06 billion CNY) and equity related to Tencent Music. In this acquisition, in addition to cash payment, Tencent Music will also grant Himalaya's relevant shareholders no more than 5.1986% of the total number of issued and outstanding ordinary shares in Class A, and will issue no more than 0.37% of the total number of ordinary shares in Class A to its founding shareholders as incentives based on Himalaya's performance in the future.
Novo-Nordisk A/S shares rose more than 2% in Pre-Market Trading, reportedly due to increased Shareholding by the aggressive hedge fund Parvus.
According to the Financial Times in the United Kingdom, the aggressive hedge fund Parvus is increasing its shareholding in the Danish pharmaceutical giant. $Novo-Nordisk A/S (NVO.US)$ to influence the appointment of its new CEO. Data shows that Parvus currently manages a total capital of approximately 5.2 billion British Pounds. In light of this news, Novo-Nordisk A/S shares rose over 2% in Pre-Market Trading.
Due to increased competition severely affecting the sales of its best-selling drug Wegovy in the United States, Novo-Nordisk A/S last month dismissed Lars Fruergaard Jørgensen, who had long served as CEO. Novo-Nordisk A/S's stock price has dropped by 50% over the past year because of intensifying competition faced by its main product Semaglutide and the unsatisfactory clinical trial results of the next generation weight loss drug CagriSema.
AI demand remains strong, and Taiwan Semiconductor's revenue in May exceeded 320 billion TWD, a year-on-year increase of 39.6%, rising nearly 2% in Pre-Market Trading.
On Tuesday, June 10, $Taiwan Semiconductor (TSM.US)$ The revenue report for May 2025 shows that Taiwan Semiconductor's sales reached 320.52 billion Taiwan dollars, a month-on-month decrease of 8.3%, but a year-on-year increase of 39.6%, which is a slowdown from last month's 48.1% year-on-year growth. Taiwan Semiconductor's Director and President Wei Zhejia stated that the sales growth rate in USD for 2025 is expected to be in the mid-range of 20%, with profits reaching record highs; there are uncertainties and potential impacts from tariff policies, yet 'no changes in customer behavior have been observed'; market demand remains strong, and wafer manufacturing is expected to continue benefiting from strong demand in AI and moderate recovery in other end markets.
IBM plans to build a fault-tolerant quantum computer by 2029, with a pre-computational power of 0.02 million times the current level.
$IBM Corp (IBM.US)$ It was announced that a new quantum data center to be built in Poughkeepsie, New York by 2029 will create the world's first large-scale fault-tolerant quantum computer. A new 'Quantum Roadmap' was also released, detailing the specific plans for constructing a practical fault-tolerant quantum system. This future system, named 'IBM Quantum Starling', is expected to reach a computational power of 0.02 million times that of existing quantum computers, enabling users to explore complex quantum states far beyond the limitations of current devices.
IBM Chairman and CEO Arvind Krishna stated: 'IBM is pioneering the next frontier in quantum computing. Our expertise in mathematics, physics, and engineering is paving the way for the creation of large-scale fault-tolerant quantum computers—this technology will address real-world challenges and unlock limitless possibilities for the business sector.'
Highlights from Apple's WWDC: 'Liquid Glass' design runs throughout the entire ecosystem, with iOS 26 leading six major system innovations.
$Apple (AAPL.US)$ The highly anticipated Global Developer Conference (WWDC) was held on Monday. Although this year’s performance in the AI field appeared conservative, a series of important non-AI updates were released. The most striking was a brand new visual design called 'liquid glass'. Additionally, as part of a brand rebranding, Apple confirmed it will use years rather than version numbers to identify its software. For example, the newly released upgrade systems include: iOS 26, iPadOS 26, tvOS 26, macOS 26, watchOS 26, and visionOS 26.
Global Macro
During the first meeting of the China-US economic and trade negotiation mechanism, the US Treasury Secretary, Trade Representative, and Secretary of Commerce all participated.
On June 9 local time, the delegations from China and the US held the first meeting of the China-US economic and trade negotiation mechanism in London, United Kingdom. Key members of the US delegation included Treasury Secretary Basant, Trade Representative Grill, and Secretary of Commerce Lutenik. Basant is responsible for macroeconomic and financial issues, playing a coordinating role; Grill primarily oversees tariffs, acting as the 'professional negotiator' for various trade negotiations; Lutenik focuses more on the industrial sector, addressing issues like exports, imports, and market access for different industries.
Trump announced the establishment of the 'Trump Account': the Treasury will provide funding of $1,000 for each newborn in America, to be invested in US stock market index funds.
US President Trump announced on Monday that he will establish a $1,000 'Trump Account' for each child born in the US between January 1, 2025, and January 1, 2029, who has a Social Security number. This money will be funded by the US Treasury as part of the large and beautiful bill currently under review in Congress, and the related funding may come from cuts to other government spending projects and revenue from tariffs. Families and third parties may also inject up to $5,000 per year into each child's account.
These funds will be invested in index funds that track the US stock market. Children may withdraw 50% of the account balance once they turn 18, and may withdraw the entire balance starting at age 25. Account earnings will be taxed at the long-term capital gains tax rate or income tax, and misuse of funds may incur a 10% penalty.
Trump receives an ultimatum: The U.S. government may run out of money as early as mid-August.
The nonpartisan U.S. Congressional Budget Office stated on Monday that the U.S. government may face a situation between mid-August and the end of September where it does not have enough funds to pay all its bills on time. The budget office wrote in its monthly budget report: "It is now estimated that if the debt ceiling remains unchanged, the government's ability to borrow under extraordinary measures may be exhausted between mid-August and the end of September 2025."
The latest estimate from the Congressional Budget Office has pushed the so-called 'X date' back by at least two weeks from its March forecast. This may provide Congress with more time to negotiate an agreement to increase federal borrowing authority. Raising the debt ceiling has been included in Trump's comprehensive tax and spending plan.
New York Fed survey: Trump's tariff threat eases, May inflation worries significantly subside.
According to the consumer expectations survey report released by the New York Fed, as Trump delays the implementation of some extreme tariff proposals, inflation worries among the American public noticeably eased in May. This central bank survey report shows that consumer one-year inflation expectations fell significantly to 3.2%, a decrease of 0.4 percentage points from April. Three-year inflation expectations dropped by 0.2 percentage points to 3%, while five-year expectations decreased slightly from 2.7% to 2.6%. Although all three indicators are still above the Federal Reserve's 2% annual inflation target, they have shown positive improvement, reflecting that panic sentiment is dissipating.
Wall Street strategists downplay signals of an economic slowdown, firmly believe that the summer stock market still has room for upward movement.
Despite increasingly obvious signs of a cooling labor market and slowing economic activity, mainstream strategists on Wall Street remain optimistic about the summer stock market performance. Morgan Stanley Chief Investment Officer Mike Wilson pointed out that the expectation of "moderate growth slowdown" may already be fully priced into the market. Historical experience shows that stock market performance often leads economic data and earnings results by 6-12 months, "current stock prices have reflected expectations of a weakening economy." Goldman Sachs Chief U.S. Equity Strategist David Kostin stated, "If the recovery trend of the soft data can be maintained, even if hard data shows weakness, it should still support stock market returns."
Top 20 transactions in Pre-Market Trading.
Editor/joryn
