ADDX GO Market Morning Wrap - 14th June

Stock Market

June 13, U.S. stocks opened lower and moved lower, with the three major indexes collectively closing down.

As of the close, the Dow Jones Industrial Average fell 1.79% to 42,197.79; the S&P 500 Index fell 1.13% to 5,976.97; and the Nasdaq Composite Index fell 1.3% to 19,406.83.

The Dow Jones Industrial Average fell 1.32% this week, the S&P 500 Index fell 0.39%, and the Nasdaq Composite Index fell 0.63%, all ending their two-week winning streak.

Early in the morning of June 13, Israel launched a "pre-emptive strike" on nuclear facilities and military targets in Iran. At that time, many popular U.S. stocks were clearly lower in the after-hours trading.

During the trading session of U.S. stocks, Iranian Supreme Leader Ayatollah Ali Khamenei issued a statement through Iranian official media, saying that the Iranian armed forces would take military action to completely destroy the Israeli regime.

Near the end of U.S. stock trading, Iran had launched its third wave of missile attacks, firing about 150 missiles in the direction of Israel. The Israeli Civil Defense Department announced that 21 people had been injured in Iran's missile attacks, two of them seriously.

Most large-cap technology stocks fell. Apple and Meta fell more than 1%, while Microsoft, Netflix, Google, and Amazon fell slightly. Tesla rose nearly 2%. Chip stocks generally declined. Intel and ASML fell more than 3%, and Nvidia, Broadcom, and TSMC fell more than 2%.

Energy stocks rose sharply against the trend. Houston Energy rose nearly 120%, American Energy rose more than 55%, and Indonesia Energy rose more than 46%.

Drone manufacturer Airo surged 140% on its first day of trading in the U.S. initial public offering (IPO). Oracle rose more than 7%, and its stock price continued to hit a new all-time high.

Louis Navellier, Chief Investment Officer of Navellier & Associates, said, "The lasting damage could be to the crude oil price. If oil prices don't come down soon, it will definitely cause some damage to the U.S. inflation data."

Israel and Iran

Khamenei: The Iranian armed forces will take military action to completely destroy the Israeli regime. Iranian Supreme Leader Ayatollah Ali Khamenei issued a statement through Iranian official media on the evening of June 13, saying that the Iranian armed forces would take military action to completely destroy the Israeli regime.
Iran officially withdraws from nuclear talks with the United States. Local time on June 13, Iran officially withdrew from nuclear talks with the United States. Trump said, "Although there have been significant casualties and damage, there is still room to stop this massacre before the next round of more brutal strikes. Iran must reach an agreement before it's too late."
Israeli military says it has detected a new round of missile attacks by Iran, and air-raid sirens sound in many places. According to CCTV News, local time on June 14, the Israeli Defense Forces said they had detected a new round of missile attacks by Iran on Israel. Air-raid sirens sounded again in many places in Israel, and the Israeli military said the air-defense system was intercepting Iranian missiles.
Trump admits to knowing about Israel's strike on Iran. U.S. President Trump admitted on June 13 that the United States knew in advance about Israel's attack on Iran. Trump said in a telephone interview with the media, "We know everything." He once again called on Iran and the United States to reach an agreement on the Iranian nuclear issue, saying it was still "not too late."

Company News

Amazon restructures its healthcare business. In an effort to streamline its structure, Amazon is restructuring its healthcare business into six "pillars." Amazon has lost several healthcare-industry executives in recent months. After acquiring PillPack and One Medical and launching some of its own services, Amazon has been struggling to find a consistent strategy in the healthcare market.
AMD releases two generations of flagship AI chips to compete with Nvidia. Morgan Stanley: MI400 could be a key turning point. At the AMD Advancing AI conference, AMD unveiled its strongest-ever lineup of AI products-flagship data-center AI chips, an AI software stack, AI-rack-level infrastructure, AI network cards, and DPUs-fully demonstrating its ambition to compete with Nvidia.
U.S. eVTOL giant Archer raises $850 million. Well-known U.S. electric vertical-takeoff-and-landing aircraft (eVTOL) company Archer Aviation announced that it has raised $850 million through the sale of shares. Archer said it plans to use the $850 million to support new infrastructure construction and the launch of an AI-based aviation software platform.
Wall Street's evaluation of AMD's latest computing-power chips: Still have to "fight for the future". For the new products launched by AMD, the world's second-largest AI chip supplier, this week, Wall Street analysts gave their initial views: The MI350 series, which will be launched this year, is "acceptable," but the "turning point" for challenging Nvidia may still have to wait until next year.

Forex & Commodities

International crude oil futures settlement prices closed sharply higher by more than 7%.

WTI July crude oil futures closed up $4.94, or 7.26%, at $72.98 a barrel, up about 13% this week. Brent August crude oil futures closed up $4.87, or 7.02%, at $74.23 a barrel, up 11.67% this week.

Data from the Intercontinental Exchange (ICE) showed that speculators' net long positions in ICE Brent crude oil increased by 29,159 contracts to 196,922 contracts in the week ended June 10, reaching a 10-week high.

COMEX gold futures rose 1.47% to $3,452.3 an ounce, up 3.18% this week. COMEX silver futures rose 0.14% to $36.345 an ounce, up 0.57% this week.

At the end of trading in New York on June 13 (local time), the U.S. dollar index rose 0.29% to 98.15, down 1.07% for the week. Most non-U.S. currencies fell.

Key Events

IEA says it will use oil reserves if necessary, and OPEC criticizes this for creating panic. The IEA mainly represents some oil-consuming countries, while OPEC represents some major oil-producing countries. Local time on Friday, June 13, the International Energy Agency (IEA) said that if there is a shortage in the crude oil market after Israel's attack on Iran, the agency will be ready to release emergency oil reserves. This statement was criticized by its "opponent," the Organization of the Petroleum Exporting Countries (OPEC), which said such remarks would only create panic in the market.

Cryptocurrency

Bitcoin fell 1.5% to $105,133, according to CoinMarketCap data. The 24-hour trading volume of the most popular cryptocurrency rose 43% to $73.8 billion.

Ethereum (ETH-USD), the second-largest digital asset by market value, fell 6.3% to $2,527.

XRP (XRP-USD) lost 3.7%, BNB (BNB-USD) fell 1.1%, and Solana (SOL-USD) declined 6.3%. Dogecoin (DOGE-USD) slumped 5.7%, and Cardano (ADA-USD) dropped 5.5%.

The total market value of the cryptocurrency industry decreased 3.5% in the past 24 hours to $3.26 trillion, with trading volume rising 46% to $177.8 billion.

Key Events

DJT registers an application with the SEC regarding investment in Bitcoin. The Trump Media & Technology Group (DJT) has registered an application with the U.S. Securities and Exchange Commission (SEC) regarding investment in Bitcoin. The company said it does not currently plan to raise funds for this purpose immediately.
Brazilian fintech Meliuz raises $32.4 million through stock offering for Bitcoin purchase. Brazilian fintech company Meliuz said in a securities filing on Friday that it has raised 180.08 million reais ($32.39 million) through a follow-on stock offering, aiming to obtain funds to purchase Bitcoin.