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On Friday, during Pre-Market Trading, the three major Equity Index futures all dropped.
Star Technology stocks all fell before the market opened. $Taiwan Semiconductor (TSM.US)$ 、 $Micron Technology (MU.US)$ 、 $Intel (INTC.US)$ Dipped over 2%, $Alphabet-A (GOOGL.US)$ 、 $Qualcomm (QCOM.US)$ 、 $Broadcom (AVGO.US)$ 、 $Amazon (AMZN.US)$ 、 $Tesla (TSLA.US)$ 、 $NVIDIA (NVDA.US)$ All fell more than 1%.
Popular Chinese concept stocks collectively fell in Pre-Market Trading. $XPeng (XPEV.US)$ 、 $Kingsoft Cloud (KC.US)$ decreasing by more than 3%. $Bilibili (BILI.US)$ 、 $Alibaba (BABA.US)$ Dipped over 2%, $PDD Holdings (PDD.US)$ 、 $Tencent Music (TME.US)$Dropped over 1%.
The oil and gas exploration and development sector strengthened collectively, $Houston American Energy (HUSA.US)$、 $US Energy (USEG.US)$increased by over 68%, $Indonesia Energy (INDO.US)$ Increased by over 39%, $Trio Petroleum (TPET.US)$Increased by over 28%.
Many stocks in the Shipping Sector strengthened, $Icon Energy (ICON.US)$ Increased by over 60%,$C3is (CISS.US)$ rising over 13%, $TORO CORP (TORO.US)$ Increased by nearly 8%.
The defense and military industry sector sees multiple stocks strengthening, $RTX Corp (RTX.US)$ rising over 4%, $Northrop Grumman (NOC.US)$ rising nearly 4%. $Lockheed Martin (LMT.US)$ 、 $General Dynamics (GD.US)$ Increased by over 3%.
AMD claims its new AI chips have completely surpassed competitors in its direct competition with NVIDIA.
$Advanced Micro Devices (AMD.US)$ CEO Su Zifeng stated that the latest version of the MI350 series chips has outperformed NVIDIA's similar products in speed, being 35 times faster than previous models, and that the entire AI chip market is expected to exceed 500 billion USD in the next three years.
Novo-Nordisk A/S rose over 1% in Pre-Market Trading, with a new drug set to enter Phase III clinical trials next year.
The Danish biopharmaceutical giant $Novo-Nordisk A/S (NVO.US)$ announced on its official website that the company will advance the phase III clinical trial of its weight management drug "Amycretin." Amycretin is a single-molecule long-acting GLP-1 receptor and amylin receptor agonist that can be administered subcutaneously and orally, aimed at providing treatment options for overweight or obese adults and patients with type 2 diabetes. The Executive Vice President of R&D stated: "We are very optimistic about this single molecule Amycretin, which is also an important step for us. We look forward to sharing more information about the phase III clinical design soon."
Google fell more than 1% in Pre-Market Trading, with major outages in cloud services, causing disruptions to services like OpenAI and Spotify.
On Thursday Eastern Time, Google Cloud experienced a major global outage, leading to interruptions in several large network services, including the streaming music service platform Spotify, OpenAI, GitHub, and others.
According to Canalys data, by the end of last year, Google Cloud had a global market share of 11%, second only to Amazon AWS and Microsoft Azure. This sector is also the fastest-growing part of Alphabet Inc. The total revenue of Google Cloud last year was $43.2 billion, an increase of 31% compared to 2023. $Alphabet-A (GOOGL.US)$ In comparison, the total revenue of the group grew by 14% last year.
Boosted by AI, Adobe's performance and outlook both exceeded expectations.
After experiencing several quarters of weak performance, $Adobe (ADBE.US)$ it finally welcomed strong growth data under the significant boost of AI large models. The Earnings Reports show that Adobe's overall sales in the second quarter of fiscal year 2025 achieved a year-on-year growth of 11%, reaching $5.87 billion, which is higher than the analysts' average estimate of $5.8 billion. The company expects overall sales in the third quarter to reach between $5.88 billion and $5.93 billion, exceeding the analysts' average estimate of about $5.88 billion.
Global Macro
Israel launched an attack on Iran, raising risk aversion sentiment, leading Gold and Crude Oil prices to rise.
In the early morning of the 13th local time, Israel launched an attack on Iran. Previously, U.S. President Trump warned that if the U.S. and Iran could not reach an agreement on nuclear negotiations, Israel might attack Iran, leading to a large-scale conflict. Earlier this week, the U.S. embassy in the Middle East had started evacuating non-essential staff. According to Xinhua News Agency, Israeli Prime Minister Netanyahu stated on the 13th that the attacks on Iran by the Israeli military would 'last for days.' As of the time of publication, Brent Crude Oil and WTI Crude Oil both rose nearly 8%. Gold Futures rose more than $37, an increase of nearly 1%, reporting $3439 per ounce.
Trump: The attacks by Israel on Iran are 'very impressive'; more strikes are to come.
According to ABC News, regarding Israel's strikes against Iran, Trump stated, "I think this (the strike by Israel) is outstanding, we gave them (Iran) a chance, but they did not seize it. They have received a heavy, very heavy blow. The blows they have received are about the same as those they will receive. There will be more strikes in the future." When asked if the US was involved in any way in the attacks, Trump replied, "I don't want to comment on that."
US President Trump recently posted on social media: "Two months ago, I gave Iran a 60-day ultimatum to 'reach an agreement'. They should have done it! Now it is the 61st day. I told them what to do, but they just couldn't do it. Now, maybe they have a second chance!"
US government officials have successively urged Powell to lower interest rates: lowering by 2 percentage points could save $600 billion annually.
After the inflation report was released, Trump and Vance "teamed up" on social media to pressure the Federal Reserve to quickly lower interest rates. Trump posted that the CPI data just came out, very good numbers! The Federal Reserve should lower interest rates by a full percentage point; a 2 percentage point rate cut could save the US $600 billion annually. Meanwhile, US Vice President Vance echoed, "The President (Trump) has been saying this for a while, but now it’s clearer: the Federal Reserve’s refusal to cut rates is a dereliction of monetary policy."
The Federal Reserve's next interest rate meeting will be held from June 17 to 18. Despite Trump's strong pressure, traders do not consider it likely that the Fed will cut interest rates in the upcoming rate decision, and they also assess that the likelihood of a rate cut at the July meeting is low.
Goldman Sachs: Downgraded the US recession forecast for the next 12 months to 30%.
Goldman Sachs has downgraded the probability of a US recession in the next 12 months from 35% to 30%, mainly based on the easing of trade tensions following a new round of negotiations between China and the US, with specific progress including: 1) tariff rate framework agreement; 2) China lifting restrictions on rare earth exports; 3) restoration of pathways for Chinese students to study in the US. The bank pointed out that financial conditions have basically returned to the levels before the tariffs were imposed, and trade policy uncertainty has slightly alleviated. Despite limited inflation data, Goldman Sachs believes the impact of tariffs on consumer prices is more moderate than initially feared. Based on the improved outlook, Goldman Sachs has also raised its GDP growth forecast for 2025 from 1% to 1.25% and expects the unemployment rate peak to be controlled at 4.4%.
Top 20 transactions in Pre-Market Trading.
Macro economic events reminder for U.S. Stocks.
(The following is in Beijing Time)
22:00 US June University of Michigan Consumer Confidence Index Preliminary Value.
Editor/joryn
