ADDX GO Market Morning Wrap - 17th June
Stock Market
Before the "super central bank week" kicked off, the U.S. stock market temporarily recovered slightly from the risk aversion sentiment of last Friday, with the three major stock indexes all closing higher on Monday.
As of Monday's close, the S&P 500 Index rose 0.94% to 6,033.11 points; the Nasdaq Composite Index rose 1.52% to 19,701.21 points; and the Dow Jones Industrial Average rose 0.75% to 42,515.09 points. 
Large technology stocks generally rose. Meta and Intel rose nearly 3%, while Tesla, NVIDIA, Netflix, and Google rose more than 1%, and Microsoft rose nearly 1%.
Kering Group (Kering) rose more than 12%, achieving the largest single-day increase since November 2008. Circle rose more than 13% to $151, with the stock price approaching 5 times the IPO offering price. $CRCL
Brain regeneration technology company RGC surged by more than 280%. Its year-to-date increase has reached 46,053.85%.$RGC
The conflict between Israel and Iran continues. Israeli Prime Minister Benjamin Netanyahu said in a pre-recorded online press conference that Israel's actions will not stop, and Israel is "systematically and continuously destroying Iran's nuclear targets".
On the same day, Vahidi, a senior advisor to the Commander of the Islamic Revolutionary Guard Corps of Iran, said that the Revolutionary Guard Corps has prepared for a long-term comprehensive war with Israel.
There is no doubt that the progress of this conflict will still directly affect the performance of capital markets. Investors will closely pay attention to the situation of energy facilities and key shipping routes.
The strategist team of Royal Bank of Canada (RBC) Capital Markets pointed out that given the recent increase, the valuation of U.S. stocks has appeared overvalued. In the worst case, if the situation in the Middle East pushes up energy prices and causes "severe" inflation in the United States, the S&P 500 Index may experience a significant adjustment.
Many central banks will gradually disclose their interest rate decisions. The market will closely pay attention to the statements and actions of the Bank of Japan on the "Japanese bond storm", the forward-looking statement of the Federal Reserve, and the trends of the Swiss National Bank returning to zero interest rates (or even negative interest rates).
Global Hotspots
- 21 countries including Egypt and Jordan issued a joint statement condemning Israel for attacking Iran. Local time on the evening of the 16th, the foreign ministers of 21 Arab and Islamic countries, including Egypt, Jordan, the United Arab Emirates, Pakistan, Bahrain, Turkey, Algeria, Saudi Arabia, Sudan, Iraq, Oman, Qatar, and Kuwait, issued a joint statement condemning Israel for attacking Iran, which led to the further escalation of tensions in the Middle East.
- This week ushers in the "super central bank week", and the market bets that the probability of the Federal Reserve "keeping still" this time is close to 100%. This week ushers in the highly anticipated "super central bank week". According to the schedule, many central banks, including the Federal Reserve, the Bank of Japan, and the Bank of England, will announce their interest rate decisions. For the much-concerned pace of interest rate cuts by the Federal Reserve, the market bets that the probability of the Federal Reserve "keeping still" this time is close to 100%.
- The President of the German Central Bank called for a brake on interest rates: The European Central Bank should not be eager to further cut interest rates. Local time on Monday (June 16), Joachim Nagel, a member of the Executive Board of the European Central Bank, said that although the inflation rate in the eurozone has reached the target level, the European Central Bank should not be eager to further cut interest rates.
Company News
- Circle's stock price hit a new high again, and the leader predicts that stablecoins are about to usher in the "iPhone moment". $CRCL , a cryptocurrency stablecoin company, closed up 13.1% to $151 on Monday, just one step away from 5 times the IPO price ($31). Jeremy Allaire, the co-founder and CEO of Circle, said over the weekend that cryptocurrency stablecoins have not yet ushered in the "iPhone moment", but he expects that moment to come soon. In terms of policy, the U.S. Senate is expected to vote on the GENIUS Act (specific full name to be confirmed) as soon as Tuesday this week.
- Sarepta's stock price collapsed: Another patient died after receiving gene therapy treatment. Biopharmaceutical company $SRPT Therapeutics plummeted 42.12% on Monday after the second patient receiving the company's gene therapy Elevidys died, raising questions about the safety of the therapy. It is reported that Elevidys is the only gene therapy approved by the U.S. Food and Drug Administration (FDA) for the treatment of the rare Duchenne muscular dystrophy (DMD), a disease in which muscles gradually weaken, usually occurring in children over 4 years old or adults.
- AMD's stock price rose, and analysts predict that the GPU business will achieve a rebound in Q4. $AMD , a computing power chip supplier, closed up 8.81% on Monday, approaching the annual high in early January this year. In terms of news, analysts at Piper Sandler raised their target price from $125 to $140 in the latest report. Analysts were excited about the new products released by AMD last week and expected the company's GPU business to rebound in the fourth quarter.
- Japanese trading houses are reportedly close to reaching an $8 billion acquisition to compete with Middle Eastern giants for natural gas assets. It is reported that Mitsubishi Corporation may announce the acquisition of Aethon Energy Management Company in the United States within the next few months, with the transaction price close to $8 billion. There was also news in April this year that the Abu Dhabi National Oil Company (ADNOC) of the United Arab Emirates was also considering bidding for Aethon's natural gas assets.
Forex & Commodities
The price of light crude oil futures for delivery in July on the New York Mercantile Exchange fell by $1.21 to close at $71.77 per barrel, a decrease of 1.66%; the price of London Brent crude oil futures for delivery in August fell by $1.00 to close at $73.23 per barrel, a decrease of 1.35%.
COMEX gold futures fell by 1.45% to $3,402.70 per ounce. COMEX silver futures rose by 0.04% to $36.370 per ounce.
The U.S. Dollar Index, which measures the U.S. dollar against six major currencies, fell by 0.19% on the day and closed at 97.998 in the late foreign exchange market.
Key Events
- A major oil pipeline in Ecuador ruptured, suspending crude oil transportation. Local time on June 16, Ecuador's state-owned oil company reported that due to a rupture in a pipeline of the country's main crude oil transportation pipeline, the "Ecuador Oil Pipeline System", the company immediately activated an emergency plan, closed the pipeline system valves, and suspended pumping operations.
Cryptocurrency
Bitcoin rose by 3.2% to $108,578, and the 24-hour trading volume of the cryptocurrency surged by 43.3% to $49.47 billion.
Ethereum (ETH-USD), the second-largest digital asset by market value, rose by 4.8% to $2,658.
XRP (XRP-USD) surged by 7.9%, BNB (BNB-USD) rose by 1.9%, and Solana (SOL-USD) advanced by 3.5%. Dogecoin (DOGE-USD) rose by 3.7%, and Cardano (ADA-USD) was up by 4%.
The total market value of the cryptocurrency industry rose by 3.3% in the past 24 hours to $3.39 trillion, with trading volume up by 50.4% to $115.67 billion.
Key Events
- Strategy (MSTR.US) newly purchased 10,100 bitcoins, with a total holding of 592,100 bitcoins. Michael Saylor, the co-founder of Bitcoin big holder Strategy, said on social platforms that the company spent $1.05 billion to purchase 10,100 bitcoins at the level of $104,080. The yield of Bitcoin in 2025 has been 19.1% so far.
Market Events and Most Anticipated Earnings Releases
