At the market open, the Dow Jones fell 0.2%, the S&P 500 dropped 0.3%, and the Nasdaq declined 0.6%. Meta Platforms (META.O) rose 6%, reportedly building a cloud business to sell excess AI computing power. Storage-related stocks fell, with SanDisk (SNDK.O) down 7.5%, Western Digital (WDC.O) dropping over 4%, and Micron Technology (MU.O) declining 6%.
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U.S. Stocks Open Lower Across Major Indices
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Uniswap Officially Launches on Robinhood Chain
On July 2, Uniswap announced on platform X that the layer two network Robinhood Chain, developed by the Robinhood crypto business team, has fully launched Uniswap V2, V3, V4, and the UniswapX protocol. Uniswap serves as the core public automated market maker (AMM) on Robinhood Chain, supporting the Uniswap web interface, wallet client, and application programming interface (API) from day one. An AI plugin called uniswap-trading-tools, featuring three new functionalities, is also set to be released soon. Users can now utilize Uniswap on Robinhood Chain for token swaps, providing liquidity, purchasing stock tokens, deploying AI trading agents, and deeply experiencing this layer two network. This mature product system, trusted by millions of users, has now arrived on Robinhood Chain. -
Senator Warren: Legislation Needed to Prevent Trump from Gaining More Cryptocurrency-Related Profits
On July 1, U.S. Democratic Senator Elizabeth Warren stated that legislation is needed to prevent Trump from gaining more cryptocurrency-related profits. -
Spot Silver Rises 4% Today, Currently at $60.90 per Ounce
Spot silver has surged 4% today, currently priced at $60.90 per ounce. -
Fed Chair Waller: Aiming for Real-Time Data-Driven Policy Making Within a Year
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decisions; we will no longer solely depend on data from government agencies that have statistical biases and are no longer applicable.' -
Venice AI Raises $65 Million in Series A Funding at $1 Billion Valuation, Led by Dragonfly
On July 1, Venice AI, an artificial intelligence platform focused on privacy protection, completed a $65 million Series A funding round, achieving a valuation of $1 billion and becoming a unicorn. This round was led by the crypto venture capital firm Dragonfly, with participation from Coinbase Ventures, NorthIsland Ventures, and others. Venice AI stated that the platform provides access to over 200 AI models and emphasizes user data privacy protection and a 'low censorship' experience. The company claims to have over 3 million active users, an annual revenue exceeding $70 million, and has already achieved profitability. The company plans to use the new funds to purchase graphics processing units and build its own data centers to reduce reliance on leased computing power and improve gross margins. -
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. -
BTC Surpasses $60,000
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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%. -
Fed Chair Waller: Aiming for Real-Time Data-Driven Policy Making Within a Year
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 utilize new technologies to understand the dynamics of the real economy in a synchronized, real-time manner, allowing us to make more informed decisions; we will no longer rely solely on data from government agencies that are statistically biased and no longer applicable." -
Wang Yi Talks on the Phone with U.S. Secretary of State Rubio
On July 1, it was reported that Wang Yi, a member of the Political Bureau of the CPC Central Committee and Foreign Minister, had a phone conversation with U.S. Secretary of State Rubio on June 30. Wang Yi emphasized that both sides should always uphold the spirit of equality, respect, and mutual benefit, and translate the important consensus reached by the two heads of state into specific policies and practical measures. Building a constructive and strategically stable relationship is not just a slogan; it requires action, mutual efforts, and long-term commitment. To this end, both sides should expand the cooperation agenda, create more positive initiatives, while also narrowing down the list of issues and managing various risks. The Taiwan issue is interconnected and affects everything; therefore, it is hoped that the U.S. side will handle Taiwan-related matters with utmost caution. Both sides agreed that the recent conversation between the two foreign ministers was positive and constructive, and they concurred on the need to jointly implement the important consensus reached by the two heads of state, continuing to maintain communication in a flexible manner.
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