ADDX GO Market Morning Wrap - 10th June

Stock Market  

Monday, U.S. stocks pulled back slightly in late trading, with the three major indices closing mixed.  

 

As of the close, the Dow Jones Industrial Average fell slightly by 1.11 points to 42,761.76; the S&P 500 Index rose 0.09% to 6,005.88, with the last close above 6,000 being on February 21st; the Nasdaq Composite Index gained 0.31% to 19,591.24, also hitting a new closing high since late February.  

 

The first meeting of the China-U.S. economic and trade consultation mechanism was held in London, the UK, on the afternoon of June 9th local time.  

 

The U.S. CPI report is scheduled for release on Wednesday and is expected to be the key topic of the week. CFRA analyst Sam Stovall said that if inflation continues to decline, it should help make the recent stock market rebound more pronounced and sustained.  

 

Most large tech stocks rose: Tesla gained over 4%, Intel rose more than 2%, Google and Amazon increased by over 1%, and Microsoft edged up slightly; Apple and Netflix fell more than 1%.

 

During the session, Apple held its 2025 Worldwide Developers Conference (WWDC)–despite the splendid debut of new systems, market reaction was unusually lukewarm. Meta fell slightly. Boeing rose over 3%, hitting a new high since January 2024. Utility company Edison International (EIX) plunged over 8%, hitting its lowest closing level since September 2020.  

Global Hotspots  

• Conflict continues to escalate! Trump suggests arresting California Governor Newsom: Local time Monday, against the backdrop of the "Los Angeles riots" intensifying, U.S. President Trump suggested arresting California Governor Newsom on grounds of alleged obstruction of federal law enforcement in Los Angeles, while the latter has also filed a lawsuit against the Trump administration over National Guard deployment.  
• Thousands line up to "grab rice"! Japanese Prime Minister: Will thoroughly investigate reasons for sudden rice price hike: Local time June 9th, Japanese Prime Minister Shigeru Ishiba said at a meeting of the Senate Budget Committee that the government will conduct a thorough investigation into the causes of the sudden rise in Japanese rice prices through a ministerial meeting established for rice supply stability issues.  
• The first meeting of the China-U.S. economic and trade consultation mechanism will continue: The first meeting of the China-U.S. economic and trade consultation mechanism was held in London, the UK, on the afternoon of June 9th local time. The meeting will continue on June 10th local time.  
• Trump announces newborn savings plan: $1,000 deposited for each child: Trump officially announced the "Trump Savings Account" at a roundtable with CEOs of Dell, Goldman Sachs, Uber, etc., on Monday local time, calling it one of the "most important" components of his second term. The "Trump Savings Account" is part of the "Great Beautiful Act" passed by the House of Representatives last month. The proposal requires the Treasury Department to provide a $1,000 investment account for children born in the U.S. between January 1, 2025, and January 1, 2029.  

Company News  

• Apple Inc.: Apple Intelligence model to be launched for developers soon: Apple Inc. said it will soon launch the Apple Intelligence model for developers; it confirmed that the operating system will be redesigned. This year, Apple Intelligence will support more languages, and Apple will allow direct access to the device-side large language model at the core of Apple Intelligence.  
• Riding the ChatGPT surge, OpenAI's annual recurring revenue exceeds $10 billion: Less than three years after launching the chatbot ChatGPT, U.S. artificial intelligence research company OpenAI's annual recurring revenue (ARR) has exceeded $10 billion.  
• AI expansion frenzy! Amazon announces another $20 billion investment on the U.S. East Coast: Local time Monday, tech giant Amazon announced on its official website that the company plans to invest over $20 billion in Pennsylvania, U.S., to expand cloud computing infrastructure and advance artificial intelligence innovation.  

Forex & Commodities  

WTI crude oil futures closed at $65.29 per barrel, up $0.71, or 1.10%. Brent crude oil futures closed at $67.04 per barrel, up $0.57, or 0.86%.  

 

COMEX gold futures rose 0.04% to $3,347.8/oz; COMEX silver futures rose 2.07% to $36.915/oz.  

 

At the end of trading in New York, the U.S. Dollar Index fell 0.19% to 99.01, with most non-U.S. currencies rising.  

Key Events  

• According to CME's "FedWatch": The probability of the Fed keeping rates unchanged in June is 99.9%, and the probability of a 25-basis-point rate cut is 0.1%. The probability of the Fed keeping rates unchanged in July is 85.5%, and the probability of a cumulative 25-basis-point rate cut is 14.5%.  
• OPEC+ quota increases have not yet translated into a significant rise in actual production: Morgan Stanley said that although OPEC+ may be raising oil production quotas at a significant pace to restart idle capacity, this shift has not yet translated into a substantial increase in actual production.  

Cryptocurrency  

Bitcoin rose back above the $110,000 mark for the first time in two weeks, $2,000 away from the all-time high set in May.  

 

Ethereum (ETH-USD), the second-largest digital asset by market value, rose 2% to $2,584.  

 

XRP (XRP-USD) gained 0.3%, BNB (BNB-USD) rose 0.9%, and Solana (SOL-USD) climbed 0.9%. Dogecoin (DOGE-USD) was up 0.5%, and Cardano (ADA-USD) surged 1.3%.  

 

The total market value of the cryptocurrency industry rose 1.8% in the past 24 hours to $3.28 trillion, with trading volume up 33.3% to $110.52 billion.  

Key Events  

• Strategy raises $112 million for Bitcoin purchases without selling any MSTR shares: Strategy successfully sold 626,639 shares of STRK preferred stock and 432,679 shares of STRF preferred stock through its at-the-market (ATM) issuance program from June 2nd to 8th, raising net funds of $112.2 million.  
• Cryptocurrency funds hit record assets under management: The assets under management of cryptocurrency funds hit a record high in May: According to Morningstar data on 294 cryptocurrency funds, these funds attracted a net inflow of $7.05 billion last month, the highest level since December last year, with total assets reaching a record $167 billion.