To The Moon

*Global markets end higher on rate cut optimism

🇺🇸 S&P 500: 0.16% 📈

🇺🇸 Nasdaq: 0.17% 📈

🇪🇺 Stoxx 600 Index: -0.53% 📉

🇯🇵 Nikkei 225 Index: -0.22% 📉

🇭🇰 Hang Seng Index: 0.24% 📈

🇨🇳 CSI 300 Index: 0.76% 📈

* U.S. markets were broadly higher on Monday, with the S&P 500 and Nasdaq Composite rising 0.2% and 0.2%, respectively, after weaker-than-expected labor market data reaffirmed expectations of a rate cut from the Federal Reserve.

* The number of U.S. job openings fell more than expected in April, falling by 296,000 to 8.06 million (8.37 million expected), the lowest level in nearly three years, as labor market conditions eased, which could help the Fed fight inflation.

* Asia-Pacific stocks ended broadly higher, with the Hang Seng Composite and the CSI 300 up 0.2% and 0.8%, respectively, as China's crisis-hit real estate sector showed signs of stabilizing, while growing hopes of a U.S. interest rate cut also boosted sentiment.

💡 Future events: 💡

* On Wednesday, China Caixin Services PMI, U.S. ADP Non-Farm Employment Change, and ISM Services PMI will be released.

* On Thursday, investors will focus on European Union monetary policy decisions and U.S. jobless claims.

* To end the week, we will see the release of US non-farm payroll changes and the unemployment rate.

💡 Things you need to know today: 💡

1. Vietnam's central bank has provided an additional $1.2 billion in loans to troubled Saigon Joint Stock Commercial Bank over the past two months, bringing total aid to $24.5 billion.

Saigon Joint Stock Commercial Bank

2. A sharp decline in new home construction in China has allowed the beleaguered real estate industry to finally address its chronic oversupply problem. However, fears of a Japan-like economic stagnation continue amid the lack of a strategy to deal with non-performing assets.

3. Intel $Intel(INTC)$  launched its next-generation Xeon server processor as part of an effort to regain market share in the data center and announced that its Gaudi 3 artificial intelligence accelerator chip will be priced significantly lower than competing products.

Intel XeOn

4. Electric car maker Tesla $Tesla Motors(TSLA)$  will suspend production at its factory in Grünheide, Germany, for five days in June to strengthen factory processes.

Tesla factory in Grunheide

5. Indian Prime Minister Narendra Modi will need to negotiate a power-sharing deal to secure a historic third term as his Bharatiya Janata Party fails to secure a seat in the lower house of parliament can obtain an absolute majority.

Narendra Modi

✅ KEY TAKEAWAYS:

The data we've seen so far this week has been relatively weak. This is entirely conducive to the rebound in the bond market; but it is a double-edged sword for the stock market as they look forward to the announcement of a rate cut, and with the softer data, the possibility of a rate cut is rising.

@Daily_Discussion  @MillionaireTiger  @CaptainTiger  @Tiger_comments  @TigerGPT  @TigerStars