On June 10, U.S. stocks related to cryptocurrency concepts rose in early trading, with Robinhood surging over 9%, Circle increasing by more than 3%, and Strategy and Coinbase both climbing nearly 3%.
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U.S. Stocks of Cryptocurrency Concepts Surge
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S&P Dow Jones Indices Determines SpaceX Eligible for Rapid Inclusion in Certain Indices
On June 10, S&P Dow Jones Indices announced that SpaceX is eligible for rapid inclusion in certain indices. -
Nasdaq 100 Index Turns Positive
On June 10, U.S. inflation data met expectations, leading to a rebound in major U.S. stock indices. The Nasdaq, S&P 500, and Dow Jones all saw their declines narrow to 0.3%, with the Nasdaq 100 Index turning positive after previously dropping over 1%. -
Analyst: Federal Reserve Faces Significant Challenges in Final Phase of Inflation Response
On June 10, Brent Schutte, Chief Investment Officer of Northwest Mutual Wealth Management, stated that today's inflation data hardly changes the fact that the Federal Reserve is facing significant difficulties in the final phase of its response to inflation. In fact, inflation rates have consistently remained above the 2% target for the past few years, with little to no improvement. Nevertheless, the weak labor market provides the Federal Reserve with an excuse to lower interest rates. As the labor market gradually recovers, investors have reason to consider whether the Federal Reserve needs to refocus on effectively achieving its inflation targets. -
BTC Surpasses $62,000
Market data shows that BTC has surpassed $62,000, currently priced at $62,027.9, with a 24-hour decline of 0.39%. The market is highly volatile, so please ensure proper risk management. -
U.S. Stocks Open: Dow Jones Down 0.22%, S&P 500 Down 0.4%
U.S. stocks opened with the Dow Jones down 0.22%, the S&P 500 down 0.4%, and the Nasdaq down 0.6%. Super Micro Computer (SMCI.O) fell 13% after the company announced plans to raise $7 billion through equity financing. Mining stocks followed the decline in international gold prices, with Harmony Gold down 4% and Gold Fields (GFI.N) down 5%. The Philadelphia Semiconductor Index dropped 1%. -
U.S. Core Inflation Unexpectedly Cools in May, Traders Still Bet on Fed Rate Hike by Year-End
On June 10, the U.S. core CPI rose 0.2% month-on-month in May, lower than the market expectation of 0.3%. U.S. Treasury bonds strengthened slightly, while bond traders maintained their bets that the Federal Reserve will raise interest rates by the end of the year. The data is seen as easing some pressure on the Fed ahead of Kevin Warsh's first meeting as Fed Chair next week. Following the CPI release, most U.S. Treasury yields fell by less than 1 basis point. The two-year Treasury yield, which is more sensitive to short-term monetary policy changes, was reported at 4.11%, down from around 4.13% earlier in the session. Dan Carter, senior portfolio manager at Fortress Investment Group, stated, 'This gives the Fed a little bit of breathing room.' -
US Senator Seeks Delay of SpaceX IPO by SEC
According to market news, US Senator Elizabeth Warren is calling on the Securities and Exchange Commission (SEC) to postpone SpaceX's IPO. -
BlackRock Deposits 1,564 BTC to Coinbase, Valued at $96.49 Million
On June 10, according to OnchainLens monitoring, BlackRock deposited 1,564 BTC to Coinbase, valued at $96.49 million. -
Core Inflation in the U.S. Eases, Alleviating Recent Concerns for the Federal Reserve
On June 10, U.S. CPI data for May showed that inflation soared to a three-year high, but the moderate rise in core prices eased Wall Street's concerns about interest rate hikes. Today's CPI data and tomorrow's PPI index are expected to influence the Federal Reserve's policy stance, which will be announced at the Fed meeting chaired by Waller for the first time in a week. According to the CME FedWatch Tool, before the CPI inflation data was released, the market had anticipated a 70% probability of the Federal Reserve raising interest rates by the end of 2026. However, the market believes that it is almost impossible for the Fed to raise rates at next week's meeting, with only a 13% probability for a rate hike in July. In the short term, the focus is on whether the Federal Reserve will clearly shift from a dovish stance to a neutral or hawkish stance at the upcoming meeting. This week's CPI and PPI inflation data, along with the progress of U.S.-Iran negotiations, may influence the balance between neutrality and tightening. -
US Inflation Rate Returns to '4% Range' in May, Meeting Market Expectations
On June 10, it was reported that in May, the rate of increase in consumer prices in the United States reached its fastest level in three years. The conflict in the Middle East has driven up gasoline and other energy prices, providing further justification for the Federal Reserve to maintain interest rates unchanged until 2027. Data released on Wednesday showed that for the 12-month period ending in May, the Consumer Price Index (CPI) rose by 4.2% year-on-year, marking the largest increase since April 2023. Compared to the previous month, prices increased by 0.5%, following a 0.6% rise in April. The CPI has seen significant increases for three consecutive months, highlighting the growing pressure on households, as there are signs that more consumers are tapping into their savings to cover expenses. Additionally, the inflation rate has exceeded wage growth for the second consecutive month, which could adversely affect overall economic growth. Meanwhile, the sharp rise in the cost of living poses a significant political burden for President Trump and his party, as they seek to maintain control of Congress in the upcoming midterm elections in November.
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