01 Stock Market
As of Jun 10, U.S. stock index futures performed as follows: Dow-linked contracts fell 0.87%, S&P 500 futures slipped 0.97%, and Nasdaq 100 futures retreated 1.52%, pointing to a cautious tone as investors digested fresh technology-sector turbulence, higher bond yields and mixed geopolitical headlines.
Notable Stock Movers: bearish sentiment dominated semis, with SMCI down 11.46% at $35.98 following plans for new equity funding, SOXL down 9.65% at $182.22, MU down 4.89% at $890.10, and TSM fell 3.81% at $411.61. Large-cap tech weakness persisted: NVDA down 2.31% at $203.38 while AAPL slipped 0.37% at $289.47 despite unveiling fresh AI features. Conversely, inverse technology products such as SQQQ up 4.57% at $44.62 benefited from defensive rotation.
Beyond individual swings, pre-bell trading shows continued pressure on high-valuation growth shares, particularly memory, server and semiconductor names, as investors weigh the impact of looming capital raises, profit-taking after strong year-to-date rallies and a heavier macro calendar. Value-oriented and defensive areas are seeing relative support, underscoring a selective risk-off stance ahead of key inflation data and central-bank meetings later in the week.
02 Other Markets
• 10-year U.S. Treasury yield rose 0.27%, to 4.54%.
• U.S. Dollar Index rose 0.03% to 100.01.
• WTI crude oil futures rose 1.98% to 89.95 USD/barrel; COMEX gold futures fell 2.73% to 4,169.40 USD/ounce.
03 Key News
1. Bank of Japan confirmed Governor Kazuo Ueda’s hospitalization, delegating next week’s policy meeting to Deputy Governor Shinichi Himino. The central bank stated that Deputy Governor Ryozo Himino will chair the gathering and Deputy Governor Uchida will brief the media, ensuring policy continuity while Ueda recuperates for about two weeks.
2. SK Hynix intends to list American depositary receipts in the United States as soon as August. Sources said the chipmaker’s application is on track for regulatory approval, enabling the firm to tap U.S. capital markets and broaden its investor base amid robust demand for AI-related semiconductor exposure.
3. TSMC reported consolidated revenue of TWD 416.98 billion for May, up 30.1% year-on-year. Management highlighted sustained demand for advanced-node chips used in artificial-intelligence and high-performance computing devices, keeping the foundry’s year-to-date sales growth at 30% versus the prior year.
4. Super Micro Computer plans to raise roughly $7 billion in new equity to secure AI server components. The prospective financing underscores rapid capacity expansion but triggered a double-digit pre-market slide in the hardware supplier’s shares as investors assessed dilution risks.
5. Apple introduced “Apple Intelligence,” a generative-AI upgrade that overhauls Siri and photo-editing tools. The suite requires at least 12 GB of unified memory, rendering hundreds of millions of older iPhones ineligible and potentially catalyzing an accelerated device-replacement cycle and new iCloud revenue streams.
6. Oracle deepened its collaboration with Bloom Energy, securing up to 2.8 GW of fuel-cell power for forthcoming AI data-center campuses. The move bolsters Oracle’s capacity for energy-efficient cloud infrastructure, supporting anticipated growth in artificial-intelligence workloads under its “Stargate” initiative.
7. Bitget Wallet’s tokenized SpaceX IPO allocation hit its $13 million cap within 30 minutes. The rapid sell-out of SPCXx tokens reflects intense retail demand for pre-IPO aerospace exposure and signals growing appetite for blockchain-based access to traditional equity offerings.
8. The U.S. Labor Department is set to release Consumer Price Index data, with analysts bracing for a third consecutive month of above-trend inflation. Persistently elevated energy costs could reinforce expectations that the Federal Reserve will keep policy rates unchanged, maintaining pressure on rate-sensitive assets.
9. The Bank of Korea and the Financial Supervisory Service will launch joint inspections of major currency-trading banks. Officials aim to curb potential exchange-rate manipulation after heavy dollar demand linked to a high-profile IPO strained the won, prompting authorities to intensify market oversight.
10. The U.S. Administration warned of possible strikes on Iranian infrastructure amid stalled negotiations. Heightened geopolitical tensions in the Middle East raise energy-market uncertainty, sustaining the bid for crude oil and reinforcing inflationary pressures in global commodity markets.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
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