On July 1, according to media reports, Microsoft plans to lay off thousands of employees in its sales, engineering, and Xbox divisions. Microsoft typically conducts layoffs after the end of its fiscal year, which concluded on Tuesday. The company stated that the total number of employees will see a slight decrease this year.
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Microsoft Plans to Lay Off Thousands in Sales, Engineering, and Xbox Divisions
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On July 1, Federal Reserve Chair Waller set an ambitious timeline aimed at enabling the Fed to rely on new technologies that provide real-time economic data, thereby reducing dependence on lagging government survey data. Waller stated, 'My vision is that within the next 9 to 12 months, we will leverage new technologies to grasp the dynamics of the real economy in a synchronized, real-time manner, allowing us to make more informed decisions; we will no longer solely depend on data from government agencies that have statistical biases and are no longer applicable.' -
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Non-Farm Payroll Data to be Released Tomorrow, US Stock Market Closed on Friday
On July 1, due to the upcoming Independence Day holiday in the United States (July 3), the non-farm payroll data for June will be released earlier at 20:30 Beijing time on July 2 (Thursday). The US stock market will be closed for one day on July 3 (Friday). Trading for precious metals, energy, foreign exchange, US Treasury bonds, and stock index futures contracts under the CME will end early at 01:00 Beijing time on July 4. Trading for Brent crude oil futures contracts under the ICE will end early at 01:30 Beijing time on July 4. Investors are advised to take note. -
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U.S. Stock Market Sees Collective Drop in Optical Communication Sector, Corning Falls 10%
On July 1, the U.S. stock market saw a collective decline in the optical communication sector. Corning fell by 10%, Lightwave Logic dropped over 7%, AXT Inc and MaxLinear fell over 6%, while Qorvo and Lumentum declined by over 4%. Coherent, Tower Semiconductor, Astera Labs, and GlobalFoundries each fell by over 3%, and Ciena, POET Technologies, Mavenir, Amphenol, and Fabrinet dropped by over 2%. -
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