On June 28, the US dollar index was 106.077, up 0.14%; the US 10-year Treasury bond yield was 4.3190%, up 0.76%. The weakening of the Japanese yen and the euro pushed the US dollar index stronger; the Treasury bond yield fell slightly after the release of the Q1 GDP data, but has now risen again. Bond market investors are still waiting for Friday's PCE data.
In terms of economic data, the number of initial jobless claims in the United States fell last week, but the number of continuing claims in mid-June jumped to the highest level in two and a half years, suggesting that labor market conditions are loosening amid slowing economic growth. Business equipment spending fell in May, and the decline in exports led to a widening of the goods trade deficit. The US Q1 GDP showed a slowdown in the economy.
On the Fed side, Bostic wrote that inflation in the United States "appears to be slowing," which should allow the Fed to cut interest rates later this year. Slowing inflation does not mean that prices will return to pre-epidemic levels, but that prices will no longer rise. Fed Governor Bowman reiterated that she is not ready to support a rate cut while inflationary pressures remain high. She pointed out that the easing of financial conditions is posing challenges to the future direction of prices.
On the Japanese monetary policy front, the Bank of Japan is conducting a survey among Japanese government bond market participants on reducing its balance sheet.
In terms of cryptocurrencies, BTC ETF continues to have net inflows, and Bitcoin remains above $61,000. VanEck submitted the Solana ETF application, which pushed Sol to rebound strongly. The current price is $145.84, driving Bitcoin to recover. Ethereum is currently priced at $3452.22, still strong. The Ethereum-Bitcoin exchange rate has repeatedly tested 0.056. Ethereum should be great again. The primary market is full of golden dogs, and there is a sense of jubilation, and there is a taste of a bull market.
In the U.S. stock market, although Nvidia fell, the other six major technology stocks rose. The expectation of interest rate cuts pushed up the stock market index. The S&P 500 rose 0.09% to 5483.06 points; the Nasdaq rose 0.3% to 17858.68 points; and the Dow Jones rose 0.09% to 39164.33 points.
In terms of AI stocks, $NVDA fell 1.91% to close at $123.99; $AMD rose 1.23% to close at $159.47; $AVGO fell 0.34% to close at $1586.66; $SMCI rose 7.12% to close at $890.36; $INTC rose 0.16% to close at $30.59.
As for local dog stocks, $GME was rumored to acquire $CHWY, a pet supplies e-commerce company. @TheRoaringKitty posted a dog tweet. $GME rose 3.69% to close at $25.09; $CHWY rose to $39.1 during the session, but fell back at the close to $29.05; $AMC rose 2.14% to close at $4.78; $FFIE rose 30.86% to close at $0.6. Boss Jia really tried his best to avoid delisting.
In terms of Bitcoin ETF, GBTC saw an outflow of US$11.4 million, FBTC saw an inflow of US$6.7 million, ARKB saw an inflow of US$1.8 million, BITB saw an inflow of US$8 million, BTCO saw an inflow of US$3.1 million, and EZBC saw an inflow of US$3.6 million. The total inflow on June 27 was US$11.8 million, which was the third consecutive day of net inflow. Except for GBTC, the rest were all net inflows or zero inflows.
