The Nasdaq 100 Index has turned positive, with Marvell Technology (MRVL.O) rising by 22%, Broadcom (AVGO.O) increasing by 5.3%, and Nvidia (NVDA.O) gaining 3.1%.
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Nasdaq 100 Index Turns Positive
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US Begins Stockpiling Copper as Refined Copper Floods In
On June 2, according to CCTV Finance, as June begins, copper futures in New York and London continue their upward trend. According to Reuters, due to the possibility that the US may decide by the end of June whether to impose import tariffs on refined copper, market tensions have risen, prompting US traders to start stockpiling in advance. Coupled with a resurgence in market arbitrage activities, this has pushed the global copper market into a high-stakes phase. Today (June 2), international copper prices continued to rise. Data shows that as of the market close on June 1, the price of the main copper futures contract on the New York Mercantile Exchange had increased by 10% over the past month, while the three-month copper futures price on the London Metal Exchange rose by 6.5% during the same period. It is understood that the US plans to gradually impose import tariffs on refined copper starting in 2027, with an initial rate of 15%, increasing to 30% in 2028. The market anticipates that ahead of the implementation of these tariffs, traders will concentrate on shipping refined copper to the US to avoid subsequent tariff costs. Bloomberg estimates that by 2045, the demand for copper in the global energy transition process could triple from current levels, with a global supply-demand gap in the copper market expected to emerge as early as this year. -
U.S. Secretary of State: Iran Agreement May Be Reached Today, Tomorrow, or Next Week
On June 2, U.S. Secretary of State Rubio stated that we are negotiating with Iran. Iran may have agreed to discuss some aspects of its nuclear program that it previously refused to mention in negotiations. The Iran agreement may be reached today, tomorrow, or next week. -
Masayoshi Son Regains Title of Asia's Richest Person
On June 2, Forbes' real-time billionaire rankings showed that Masayoshi Son, founder and CEO of SoftBank Group, saw his net worth rise to $100.7 billion, surpassing Indian billionaires Mukesh Ambani and Gautam Adani, reclaiming the title of Asia's richest person after more than a decade. -
BTC Falls Below $68,000
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Cisco's Market Value Surpasses $500 Billion for the First Time
On June 2, Cisco's stock price increased by 5%, reaching a new record high, with its total market value surpassing $500 billion for the first time. -
U.S. Secretary of State Rubio: We Are Negotiating with Iran
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Bank of America Outlook on Semiconductor Industry: AI Investment Continues to Expand, Storage Cycle Logic May Be Rewritten
On June 2, Bank of America stated that the construction of AI infrastructure is still in its early stages. As AI applications gradually spread from cloud computing vendors to enterprise customers, government agencies, and sovereign AI projects, global AI infrastructure investment is expected to grow from the current approximately $1 trillion to $3-4 trillion by 2030. Against this backdrop, the AI data center, memory, semiconductor equipment, and analog chip industries will welcome new growth opportunities. Bank of America believes that the memory industry is undergoing structural changes and is likely to break away from the traditional cycle model of 'big ups and downs.' The report points out that the current factors limiting the expansion of memory capacity include not only capital expenditure but also advanced packaging capabilities, cleanroom construction, power supply, and geopolitical factors. -
Ondo Perps to Launch on June 9
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SpaceX Seeks to Lower IPO Underwriting Fees, Banks Still Expected to Earn $500 Million
On June 2, SpaceX, owned by Elon Musk, is negotiating with Wall Street investment banks handling its IPO, aiming to pay a significantly reduced fee rate. However, even with a substantial reduction in fees, the banks responsible for this record-setting IPO are still expected to earn approximately $500 million from it. The aerospace and AI group plans to go public this month with a fundraising target of $75 billion. According to insiders, the company is currently trying to lower the underwriting fee rate to below 0.75%. Although this rate is much lower than the usual level, it will still become one of the most profitable IPOs in history for the Wall Street banks involved. As the lead underwriters for this IPO, Goldman Sachs and Morgan Stanley are expected to receive a larger share of the underwriting fees compared to the other 21 participating brokerages. Insiders noted that these figures only reflect the base underwriting fees paid by SpaceX and do not include any potential additional incentive fees. Due to the discussions being confidential, sources requested anonymity. Representatives for SpaceX, Goldman Sachs, and Morgan Stanley declined to comment. -
NVIDIA's Market Value Surpasses $5.5 Trillion Again
NVIDIA (NVDA.O) rose by 2.6%, with its total market value surpassing $5.5 trillion once again.
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