To The Moon

* Wall Street rises on signs of further pullback in inflation; Chinese EVs rally despite EU hikes in tariffs 🇺🇸 S&P 500: 0.24% 📈 🇺🇸 Nasdaq: 0.34% 📈 🇪🇺 Stoxx 600 Index: -1.30% 📉 🇯🇵 Nikkei 225 Index: -0.40% 📉 🇭🇰 Hang Seng Index: 1.07% 📈 🇨🇳 CSI 300 Index: -0.46% 📉 * U.S. stocks continued their rally, with the S&P 500 and Nasdaq Composite up 0.2% and 0.3% respectively, as further signs of slowing inflation strengthened the case for a rate cut this year, while the U.S. 10-year Treasury yield fell 7 points basis points to 4.24%. * U.S. producer prices fell -0.2% m/m in May 2024, compared with expectations for a 0.1% rise, compared with a 0.5% rise in April, mainly due to a 7.1% drop in gasoline prices. * U.S. jobless claims rose to 242k, well above market expectations of 225k and the highest level since August 2023. * Asia-Pacific stocks were mixed, with Hong Kong's Hang Seng rising 1.1% as stocks rebounded from a six-week low as slowing U.S. inflation boosted stocks, while the CSI 300 reversed early gains to close down -0.5%, despite China's electric Automakers closed higher after additional EU tariffs were in line with expectations. 💡 Future events: 💡 * We end the week with the release of the Bank of Japan's policy rate, Japan's tertiary sector activity and the University of Michigan's preliminary inflation forecast. 💡 Things you need to know today: 💡 1. Chinese electronics maker Honor has launched its first foldable phone, called the Honor Magic V Flip, as it steps up its game against major players like Samsung in the high-end market. Honor Magic V Flip 2. Tesla $Tesla Motors(TSLA)$ shares rose on Thursday after shareholders voted in favor of Elon Musk's $56 billion compensation package and move the electric car maker's legal residence to Texas 3%. Elon Musk 3. Chery Auto, China's largest exporter, expects its production plans in Europe to help offset the impact of EU tariffs on imported Chinese electric vehicles. Chery Auto 4. China's Ministry of Commerce stated that Chinese companies reserve the right to request countervailing and anti-dumping investigations into European dairy and pork imports. 5. Adobe's $Adobe(ADBE)$ financial report showed that its profit and revenue exceeded expectations, and it raised its full-year performance guidance because more and more businesses and consumers are beginning to use its artificial intelligence as the economy shows signs of moderation. Powered by its editing tools, Adobe shares jumped 15% in the extended trading session. Adobe ✅ KEY TAKEAWAYS: The Bank of Japan is widely expected to keep interest rates unchanged at its monetary policy meeting later today, but may consider whether to start slowly shrinking its massive balance sheet. @Daily_Discussion @TigerStars @Tiger_comments @MillionaireTiger @CaptainTiger @TigerGPT