To The Moon

* Artificial intelligence gains unabated, Wall Street hits new highs

🇺🇸 S&P 500: 0.25% 📈

🇺🇸 Nasdaq: 0.03% 📈

🇪🇺 STOXX 600: 0.69% 📈

🇯🇵 Nikkei 225 Index: 1.00% 📈

🇭🇰 Hang Seng Index: -0.11 📉

🇨🇳 CSI 300 Index: 0.27% 📈

* U.S. stocks cheered, with the S&P 500 and Nasdaq Composite rising 0.3% and 0.03% respectively, boosted by Nvidia's continued surge, and other chip stocks also making bullish moves, driving the Philadelphia SE Semiconductor Index A record high.

* U.S. retail sales rose 0.1% on an annual basis, below expectations of 0.3%, while * Core retail sales shrank -0.1% on a monthly basis, below expectations of 0.2%, suggesting higher long-term interest rates continue to weigh on the market.

* Asia-Pacific markets were mixed, with Hong Kong's Hang Seng down -0.1%, while Shanghai's CSI 300 rebounded to gain 0.3%, as pessimism continued to be subdued after poor economic data, investors awaited more policy support, and Concerns about trade tensions have intensified as China ordered an anti-dumping investigation into EU pork imports. Previously, the Bank of Japan provided more clues about potential policy paths. The Nikkei 225 rebounded 1% as market sentiment improved after the Bank of Japan provided more clues on its potential policy path.

💡 Future events: 💡

* On Wednesday, Japan will release the minutes of its monetary policy meeting.

* On Thursday, U.S. unemployment claims, Malaysia's trade balance, year-on-year exports and year-on-year imports were all on investors' radar.

* At the end of the week, we will see Japan's national core CPI year-on-year, preliminary U.S. manufacturing PMI and preliminary services PMI released.

💡 Things you need to know today: 💡

1. Federal Reserve member Adriana Kugler believes that current monetary policy is sufficient to curb inflation without seriously damaging the job market. At the same time, the Federal Reserve will continue to carefully monitor economic conditions and expects to cut interest rates later this year.

Adriana Kugler

2. Fed member Alberto Musalem, emphasized that it would only be appropriate to consider cutting interest rates if we observe "months or, more likely, quarters" of declining inflation, accompanied by slowing demand and increasing supply.

Alberto Musalem

3. Federal Reserve member John Williams believes that the U.S. economy is making positive progress, but he did not specify a timetable for possible interest rate cuts. He stressed that any decision to adjust monetary policy this year will depend on upcoming economic data.

4. Bank of Japan Governor Kazuo Ueda hinted that the central bank may raise interest rates in July based on data. The continued weakness of the yen will put pressure on spending due to rising import costs, but he emphasized that rising wages are a negative impact on consumer spending and the economy recovery support.

5. The Reserve Bank of Australia (RBA) kept the cash rate unchanged at 4.35% for the fifth consecutive time, a 12-year high, as policymakers aim to manage persistent inflation amid a slowing economy. Governor Michele Bullock's statement and subsequent press conference were described as "hawkish" by many economists.

RBA

✅ KEY TAKEAWAYS:

While expectations for multiple interest rate cuts this year have largely been tempered, enthusiasm for artificial intelligence-related companies and strong earnings from technology companies have boosted stocks in recent months, with some heavyweights in particular benefiting.

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