Tonight’s Highlights | U.S. Nasdaq Futures Hit Record Highs Pre-Market, “AI Leader” NVIDIA’s Rally Continues

As of this report, Dow Jones futures are up 0.24%, S&P 500 futures up 0.28%, and Nasdaq 100 futures up 0.36%, with the main contract hitting 22,585, a new record high.  

NVIDIA, the “global stock king,” rises 1.2% pre-market to $156, with Loop Capital noting the AI trend driving its stock shows no signs of slowing.  

Micron Technology gains nearly 1%, rival AMD jumps 2.5%, autonomous driving firm Cyngn surges 150% after an NVIDIA blog mention, and “stablecoin leader” Circle rises 3%.  

 

The previous trading day, U.S. indexes were mixed; driven by NVIDIA’s 4.33% gain, the Nasdaq Composite held a 0.31% increase, nearing its all-time high, while the Nasdaq 100 rose 0.21% to a new record.  

 

Recently released data showed U.S. May durable goods orders rose 16.4%, nearly double the expected 8.5%, and weekly jobless claims fell 10,000 to 236,000, signaling economic strength.  

 

Earlier in the day, JPMorgan analysts said U.S. trade policies could slow global growth and reignite U.S. inflation, estimating a 40% recession risk in H2 2025.  

 

The dollar index fell significantly, dipping below 97 to a three-year low. President Trump is considering nominating a new Fed chair early to weaken current Chair Powell’s influence.  

 

Mitsubishi UFJ’s senior forex analyst Lee Hardman said, “If the Fed chair candidate is seen as more aligned with Trump’s rate-cut demands, it will reinforce the dollar’s current weakness.”  

 

ANZ’s chief economist Richard Yetsenga noted, “The broader context is that markets see the U.S. economy slowing faster than the rest of the world, prompting investors to pull funds from the U.S.”  

 

European markets are mixed: Germany’s DAX up 0.23%, UK’s FTSE 100 up 0.25%, France’s CAC 40 down 0.08%.  

Company News  

Amazon & Pop Mart Crack Down on Fakes, Seize Over 700 Counterfeit LABUBU Keychains  

 

Amazon’s global anti-counterfeiting team partnered with Pop Mart for the first time, working with Chinese authorities to track and seize over 700 counterfeit LABUBU keychains and thousands of packaging materials after months of investigation.  

 

India: Data Extraction Begins for Crashed Boeing 787 Black Boxes  

 

Per CCTV News, India’s AAIB reported on June 26 that data extraction has started for the cockpit voice recorder (CVR) and flight data recorder (FDR) of the crashed Boeing 787 (AI171). The flight, carrying 242 people, crashed shortly after takeoff from India to the UK on June 12.  

 

Morgan Stanley Initiates Snowflake Coverage with Overweight Rating, $262 Target  

 

Morgan Stanley’s recent report backs Snowflake, saying AI will drive long-term core business growth, while its expansion into data engineering and AI markets sets the stage for over 20% CAGR by 2030. The bank initiated coverage with an Overweight rating and a $262 price target.  

 

UBS: Tesla’s Q2 Deliveries May Disappoint, Reaffirms Sell Rating  

 

UBS reaffirmed its Sell rating on Tesla with a $215 target, expecting Tesla’s Q2 2025 delivery data on July 2 to show 366,000 vehicles, down 18% year-over-year but up 9% sequentially, 10% below market expectations.  

 

BIS: Stablecoins Fail Key Monetary System Tests, Future Role Unclear  

 

Per the Bank for International Settlements, a recent report states stablecoins fail to meet key monetary system pillars—singularity, elasticity, and integrity—leaving their future role uncertain.

 

While promising for tokenization, stablecoins have significant limitations and may only serve a supplementary role. The report calls for tech-neutral regulation to ensure financial system stability and highlights central banks’ key role, suggesting tokenized central bank reserves and government securities could form the future monetary system foundation.