ADDX GO Market Morning Wrap - 11th June
Stock Market
On Tuesday, the three major U.S. stock indexes all rose, with the S&P 500 and Nasdaq both notching three consecutive daily gains.
At the close, the Dow Jones Industrial Average was up 0.25% at 42,866.87 points; the S&P 500 Index rose 0.55% to 6,038.81 points; and the Nasdaq Composite Index gained 0.63% to 19,714.99 points.
Most large tech stocks advanced: Intel surged nearly 8%, marking its biggest single-day gain in two months; Tesla rose over 5%; Google and Meta gained more than 1%;
while Apple, NVIDIA, and Amazon edged up slightly. Netflix fell over 1%, and Microsoft dipped slightly. Circle plunged over 8% after surging more than 270% in the three days since its listing. McDonald's (MCD) closed lower for the seventh consecutive trading day, marking its longest losing streak since 2013.
Traders are closely watching the progress of China-U.S. negotiations. Previously, strong earnings reports from U.S.-listed companies and the recent recovery of tech stocks driven by a series of AI-related news have pushed the overall rebound of the U.S. stock market.
Jay Woods, Chief Global Strategist at Freedom Capital Markets, said, "Technically, the stock market is performing well, breaking through key levels and getting back on track. The indices were slightly above the downward trend line at the start of this week and are rebounding to year-to-date highs."
The U.S. CPI report is scheduled to be released before the market opens on Wednesday, and the market expects inflation to rise slightly. A 22V Research survey shows that 42% of investors believe the market's reaction to the CPI data will be "risk-seeking," the first time the market has leaned toward risk-seeking since August last year.
Global Hotspots
- Trump: Los Angeles Riots Are a "Foreign Invasion". U.S. President Trump delivered a speech at Fort Bragg on June 10 local time, calling the Los Angeles riots a "full-scale attack on peace, public order, and national sovereignty by a group of thugs waving foreign flags," aimed at continuing the "foreign invasion" of the United States. Trump said that those who burn the American flag should be sentenced to one year in prison.
- UK's New "Equity Transfer System" to Launch Later This Year, Regulators Stress Risks of Such Transactions. On Tuesday local time, the UK Financial Conduct Authority and the Economic Secretary to the Treasury jointly announced that the country will launch an equity trading market for unlisted private enterprises in the second half of this year. The market, called the "Private Intermittent Securities and Capital Exchange System"（PISCES） aims to provide an equity trading platform for companies that do not want to go public or have not met the listing criteria, while allowing some early investors and asset management companies to bet on early-stage growth enterprises.
- Travel Between Canada and U.S. Drops for Fifth Consecutive Month Due to Tariffs and U.S. President's Annexation Remarks. Preliminary data from Statistics Canada on the 10th local time showed that Canadians continued to avoid traveling to the U.S. in May. The number of travel between Canada and the U.S. has fallen for the fifth consecutive month.
- EU to Impose New Round of Sanctions on Russia, Proposes Banning Reactivation of Nord Stream Pipeline. The European Commission proposed the 18th round of sanctions against Russia on Tuesday, targeting energy, banking, and military industries, among others, and also proposed banning the use of the Nord Stream gas pipeline infrastructure.
- Morgan Stanley CEO: Equity Capital Markets Activity Expected to Gradually Recover. The CEO of Morgan Stanley said that recent transaction announcements have begun to pick up, expecting equity capital markets activity to gradually recover, with recent transactions performing well; expecting a strong finish to the current quarter; transaction channels are stable and showing growth in some regions.
Company News
- Starbucks Launches Microsoft Azure OpenAI Assistant for Baristas. Starbucks has launched a generative AI assistant created using Microsoft Azure's OpenAI platform. The technology will be rolled out to stores in the U.S. and Canada in fiscal 2026. As part of its turnaround plan, Starbucks has been working to simplify baristas' work and speed up service in cafes.
- OpenAI Plans to Partner with Google Cloud on Cloud Computing. Media reports cited informed sources as saying that OpenAI is planning to collaborate with Google Cloud, a subsidiary of Alphabet, to meet its growing computing needs. The sources revealed that the two sides began negotiations months ago and finalized the agreement in May.
Forex & Commodities
International crude oil futures settled slightly lower.
WTI July crude oil futures fell $0.31, or 0.47%, to settle at $64.98 a barrel. Brent August crude oil futures fell $0.17, or 0.25%, to settle at $66.87 a barrel.
COMEX gold futures fell 0.31% to $3,344.4 an ounce; COMEX silver futures fell 0.4% to $36.65 an ounce.
At the end of trading in New York, the U.S. dollar index rose 0.04% to 99.05, and most non-U.S. currencies fell.
Key Events
- Zelensky Urges $30 Price Cap on Russian Oil. Ukrainian President Zelensky urged in his regular evening video address on June 10 local time to take all measures to push down the price of Russian oil and implement a price cap of no more than $30. "This price level will put substantial pressure on Russia and force it to seek peace," he said.
- OPEC Secretary-General Al-Ghais: Oil Demand Will Not Peak in the Short Term, to Maintain Strong Growth for the Next 25 Years. OPEC Secretary-General Al-Ghais said that oil demand will not peak in the short term. With the growth of the world's population, oil demand will maintain strong growth in the next 25 years. The organization expects global energy demand to grow by 24% from now to 2050, during which oil demand will exceed 120 million barrels per day.
Cryptocurrency
Bitcoin gained 0.9% to $109,640, with the cryptocurrency's 24-hour trading volume up 10% to $56.4 billion.
Ethereum (ETH-USD), the second-largest digital asset by market value, gained 7.1% to $2,768.
XRP (XRP-USD) climbed 0.1%, BNB (BNB-USD) rose 1.1%, and Solana (SOL-USD) advanced 4.9%.
Dogecoin (DOGE-USD) gained 4.2%, and Cardano (ADA-USD) was up 3.8%.
The total market value of the cryptocurrency industry rose 2.3% in the past 24 hours to $3.45 trillion, with trading volume up 35% to $148.2 billion.
Key Events
- BlackRock's Bitcoin ETF Reaches $70 Billion in Assets in Over a Year, Setting Fastest Record in History. BlackRock's iShares Bitcoin Trust (IBIT) is currently the largest Bitcoin exchange-traded fund (ETF) on the market. As of Monday, the fund's total assets reached $70 billion, making it the fastest ETF to reach this milestone.
- Bitcoin Mining Stock With 'Biggest Opportunity' in Crypto Space Grabs Eyeballs. IREN Ltd. (NASDAQ: IREN), the owner and operator of Bitcoin (CRYPTO: BTC) mining data centers, is under the radar of experts who see value in the company, expecting the stock to soar above $100 per share in the next 18 months.
Market Events and Most Anticipated Earnings Releases
