Macroeconomic Highlights
Behind Trump’s Mediation Efforts: Netanyahu Needs the War to Continue, Trump Wants the Opposite
According to Axios, Trump has spent the past 24 hours striving to prevent a full-scale resumption of war. He finds himself in a dilemma: on one hand, he understands that Netanyahu is unlikely to ignore Iran’s missile strikes; on the other, he fears that this cycle of retaliation could escalate into a full-blown conflict. Netanyahu’s rationale is that failing to retaliate against Iran would signal to the world that Iran holds the upper hand and can deter both the United States and Israel from taking military action.
At the conclusion of Trump’s call urging Netanyahu not to retaliate, the latter did not make a definitive decision. Some U.S. officials involved in the call believed Trump had successfully bought more time. However, Netanyahu viewed Trump’s stance as opposition to retaliatory strikes, but 'not a clear “don’t do it” message.'
U.S. and Israeli sources indicated that events over the past 24 hours further demonstrate a growing divergence between American and Israeli strategic interests—and between Trump’s and Netanyahu’s political imperatives. A U.S. official stated: 'Netanyahu needs the war to continue to sustain his political survival in Israel, while Trump needs the war to end to maintain his political viability in the United States.'
Qalibaf: U.S. Violation of Ceasefire Agreement and Blockade Are Root Causes of Escalating Tensions
Iranian Parliament Speaker Mohammad Bagher Ghalibaf stated: 'The root cause of this current tension lies in the United States’ blatant violation of the ceasefire agreement—imposing a maritime blockade on the Iranian people and breaching the agreed arrangements concerning the Lebanon ceasefire.'
The U.S. President’s remarks regarding the memorandum of understanding contradict provisions already agreed upon in the accord, indicating that the United States has neither the intention to uphold the ceasefire nor to engage in dialogue. To safeguard the rights of the Iranian nation, we must respond decisively. Our armed forces have fulfilled their duties in a firm and resolute manner.
U.S. Household Financial Expectations Weaken; Short-Term Inflation Expectations Decline
The Microeconomic Data Center at the Federal Reserve Bank of New York released its May 2026 Survey of Consumer Expectations. The data show that households’ short-term inflation expectations have declined, while medium- to long-term inflation expectations remain unchanged; expectations for home price growth have risen. Labor market expectations have weakened overall, with heightened concerns about unemployment and reduced confidence in job prospects. Additionally, expectations regarding future access to credit, household financial conditions, and debt delinquency have all deteriorated.
OpenAI Reveals It Has Secretly Filed for IPO
OpenAI issued a statement on Monday local time: 'We recently filed our S-1 confidentially. We anticipated it would leak, so we are releasing it publicly now. The timing of our IPO has not been finalized; it may still be some time away, as certain activities are easier to execute while remaining a private company. However, this involves a series of complex trade-offs, and filing this document allows us to move more quickly toward an IPO when the time is right.'
OpenAI’s statement indicates the company is seeking to capitalize on the artificial intelligence boom, as its rival Anthropic is also advancing its own IPO process.
Judge Blocks Trump's $100,000 H-1B Visa Fee
U.S. District Judge Leo T. Sorokin of Massachusetts struck down former President Trump’s executive order imposing a $100,000 fee on H-1B visa applications, offering relief to American technology companies that rely heavily on hiring foreign technical talent.
The judge ruled that Trump’s policy—which drastically increased the cost of this widely used visa—constituted an unlawful tax and must be rescinded. The Trump administration is likely to appeal the decision, which deals a blow to his campaign agenda of restricting immigration to boost demand for domestic labor.
U.S. Stock Market Update
Major U.S. equity indices diverged, with semiconductor and memory-related stocks advancing; the Philadelphia Semiconductor Index closed up 5.61%.
U.S. stocks rose early Monday but pared gains by the close, leaving major indexes mixed: the Dow Jones Industrial Average fell 0.16% to 50,786.01; the Nasdaq Composite rose 0.86% to 25,929.66; and the S&P 500 gained 0.30% to 7,405.73.
$Star Tech Stocks (LIST2518.US)$Stocks were mixed: Intel surged over 11%, Micron Technology climbed nearly 10%, AMD rose more than 5%, Tesla gained over 4%, Broadcom advanced nearly 3%, NVIDIA increased nearly 2%, while Apple declined nearly 2%, and Microsoft, Alphabet (Google-A), and Meta each fell over 1%.
$Popular Chinese Concept Stocks (LIST2517.US)$Most Chinese stocks listed in the U.S. declined, with the Nasdaq Golden Dragon China Index closing down 0.62%. ASE Technology rose over 4%, Taiwan Semiconductor gained nearly 3%, Nio advanced nearly 2%, PDD Holdings dropped nearly 3%, Baidu fell over 2%, JD.com declined 1%, and Alibaba slipped nearly 1%.
$Semiconductors (LIST2015.US)$Semiconductor stocks mostly rose, with the Philadelphia Semiconductor Index closing up 5.61%. Intel surged over 11%, Marvell Technology and Micron Technology climbed nearly 10%, Taiwan Semiconductor gained nearly 3%, and Texas Instruments rose over 2%.
$Storage Concept Stocks (LIST23925.US)$Memory-related stocks rallied across the board: Micron Technology jumped nearly 11%, SanDisk rose over 5%, Rambus gained nearly 5%, Seagate Technology advanced over 3%, and Western Digital climbed nearly 3%. Jensen Huang stated that memory supply shortages will persist for several more years.
$Optical Communications (LIST23979.US)$Optical component stocks strengthened: AAOI surged over 11%, Marvell Technology rose nearly 10%, Coherent gained nearly 7%, Lumentum advanced nearly 4%, and Corning climbed nearly 6%.
$Cryptocurrency concept stocks (LIST20010.US)$Most stocks rose, with IREN up nearly 9%, Coinbase gaining over 6%, Strategy rising almost 6%, and Robinhood climbing more than 3%.
Stock-specific news
Apple unveiled its next-generation AI platform, including an AI-powered Siri; Apple's 'AI' is powered by Google's Gemini technology.
$Apple(AAPL.US)$Apple announced its next-generation artificial intelligence platform, which includes an upgraded Siri. Craig Federighi, Apple’s senior vice president of Software Engineering, stated during the company’s Worldwide Developers Conference (WWDC) keynote that the new Apple Intelligence is underpinned by Google’s technology and will better understand the contextual nuances of user requests. This marks a pivotal moment for Apple. When Apple first introduced its Apple Intelligence platform two years ago, many features were rolled out slowly or lagged behind competitors in performance. The comprehensive upgrade to Siri lies at the heart of Apple’s AI revival strategy.
Since its initial launch in 2011, Siri has consistently trailed competitors in AI capabilities. During the event, Federighi noted that the new software update would focus on three areas: artificial intelligence, performance enhancements, and security. For the Mac product line, the next version of macOS will be named Golden Gate. Apple also refined its Liquid Glass design introduced last year, adding a new slider feature that allows users to adjust the intensity of visual effects.
Apple announced that Apple Intelligence will collaborate withGoogle-A (GOOGL.US)to integrate Google’s Gemini large language model and introduce a new AI architecture. “We leveraged Google’s Gemini to develop our next-generation foundational artificial intelligence (AI) model. We are launching a new Siri AI powered by Apple Intelligence technology. The new AI architecture supports app actions and screen awareness.” The updated Apple AI, powered by Gemini, will run both on-device and on cloud servers.
Tesla rose over 4% in the previous trading session, and executives confirmed that the next-generation Roadster will be unveiled within weeks.
$Tesla (TSLA.US)$Chief Designer Franz von Holzhausen recently disclosed at an event that the official launch of the all-new Roadster electric supercar is now on a countdown, with its debut expected within the next few weeks. If this timeline holds, the vehicle could make its public debut as early as late June to early July—earlier than the previously reported ‘August unveiling’ plan.
Amazon plans to issue CAD 14 billion in bonds, setting a new record for the largest corporate bond issuance in Canadian dollars.
$Amazon(AMZN.US)$plans to raise up to CAD 14 billion (approximately USD 10 billion) through the issuance of investment-grade bonds denominated in Canadian dollars, which would mark the largest-ever corporate bond offering in Canadian dollars. Proceeds will be used for general corporate purposes, potentially including supporting business investments, funding future capital expenditures, and repaying debt. Amazon’s move into Canadian-dollar financing comes roughly one month afterGoogle-A (GOOGL.US)It has just raised CAD 8.5 billion through the issuance of bonds denominated in the same currency.
Morgan Stanley comments on rumors of NVIDIA halving memory configurations: This reflects a genuine shortage, with supply constraints now the biggest bottleneck for AI. Micron Technology rose nearly 10% and SanDisk gained over 5% in the previous trading session.
$NVIDIA(NVDA.US)$Rumors about reduced memory configurations in Vera Rubin racks have shaken markets, but Morgan Stanley believes this underscores the severity of the memory shortage rather than signaling cooling AI demand. In its latest report, Morgan Stanley confirmed that some racks will indeed ship with lower configurations, emphasizing that this adjustment is entirely driven by supply-side constraints, not weak demand.
Meanwhile, the firm has revised its forecast for global semiconductor industry revenue in 2026 upward from USD 807 billion to USD 880 billion and maintains its outlook onMicron Technology (MU.US)andSanDisk (SNDK.US) with target prices of $1,050 and $1,750, respectively.
SpaceX's initial public offering was significantly oversubscribed and will close its subscription period on Wednesday.
According to informed sources,$Space Exploration Technologies (SPCX.US)$Initial public offering (IPO) subscription orders have been significantly oversubscribed, reflecting strong market demand for what could become a record-breaking listing. The investment banks managing the IPO are expected to stop accepting institutional investor orders after the New York Stock Exchange closes at 4 p.m. on Wednesday. The offering comprises 555.6 million shares at an issue price of USD 135 per share, raising approximately USD 75 billion and valuing the company at around USD 1.8 trillion.
MSCI states it will apply its standard methodology to SpaceX's IPO
MSCI stated that it intends to apply its standard methodology for large IPOs to SpaceX’s initial public offering (IPO). MSCI noted that SpaceX must meet index inclusion eligibility criteria to be considered for early inclusion, and any decision on early inclusion will take effect at the close of the tenth trading day.
Marvell Technology rose nearly 10% in the previous trading session and will be added to the S&P 500 Index
S&P Global announced on its website that it will implement changes to three of its indices before the market opens on June 22.$Marvell Technology (MRVL.US)$and$Flex Ltd. (FLEX.US)$The two will replace Pool Corp and The Campbell's Company in the S&P 500 index.
Intel rose more than 11% in the previous trading session and is reportedly becoming a backup chip manufacturer for Google and NVIDIA.
According to The Information, Taiwan Semiconductor's capacity constraints are becoming$Intel (INTC.US)$a boon. As the chipmaking giant struggles to meet surging demand for its manufacturing capacity, several major AI chip designers—including Google and NVIDIA—are quietly turning to Intel as an alternative manufacturer.
It is reported that NVIDIA is evaluating Intel’s advanced packaging and 18A process for future chips. Additionally, the report stated that Google recently placed an order with Intel to produce over 3 million TPUs by 2028.
Ciena fell more than 4% in the previous trading session and plans to issue $2 billion of convertible preferred notes.
$Ciena(CIEN.US)$announced plans to privately offer qualified institutional buyers (QIBs) $2 billion in aggregate principal amount of convertible preferred notes due 2031. The company also intends to grant the initial purchasers an option to purchase up to an additional $300 million in notes. Ciena plans to use approximately $1.14 billion of the net proceeds to repay term loans outstanding under its existing credit facility and to pay related fees; up to $140 million will be used to repurchase shares of its common stock concurrently with the pricing of the convertible notes.
Strategy purchased 1,550 Bitcoin for $101.3 million last week.
$Strategy(MSTR.US)$Between June 1, 2026, and June 7, 2026, it purchased 1,550 Bitcoins at a total cost of $101.3 million, at an average price of $65,300 per Bitcoin.
Corning rose nearly 6% in the previous trading session after reaching an agreement with Amazon.
Amazon announced an agreement withCorning (GLW.US) Reached a multi-billion-dollar agreement for Corning to provide fiber, cable, and connectivity solutions for its expanding data center infrastructure across the United States. This investment will create 1,000 high-skilled jobs at Corning’s manufacturing facility in North Carolina and generate hundreds of additional construction jobs for the expansion of Corning’s plant.
Top 20 by trading value
Hong Kong Market Outlook
Southbound capital purchased over HK$11.3 billion worth of Hong Kong-listed stocks, with net purchases of nearly HK$1.2 billion in Tencent and net sales of over HK$900 million in SMIC.
On Monday, June 8, southbound capital recorded net purchases of HK$11.318 billion in Hong Kong-listed equities.
$Ying Fu Fund (02800.HK)$、Tencent (00700.HK)、$Zhipu(02513.HK)$received net purchases of HK$5.595 billion, HK$1.162 billion, and HK$920 million, respectively;
$SMIC (00981.HK)$、$Meituan-W(03690.HK)$、$Huahong Hongli (01347.HK)$saw net sales of HK$925 million, HK$578 million, and HK$493 million, respectively.
Hong Hao: Many people mistakenly equate the Hang Seng Index with the Hong Kong stock market—a significant misconception.
Hong Hao, Chief Investment Officer at Lianhua Asset Management, recently stated,$Hang Seng Index (800000.HK)$The market has recently shown weakness—even positive news fails to drive prices up—and daily price fluctuations are heavily driven by sentiment. One could say that daily closing prices are largely inaccurate. A decline or cyclical weakening of the U.S. dollar will inevitably strengthen non-U.S. markets. Moreover, many people mistakenly treat the Hang Seng Index as representative of the Hong Kong equity market, which is a serious misunderstanding.
The Hang Seng Index does not represent the Hong Kong stock market; rather, it reflects the fundamentals of mainland China-based companies, is denominated in Hong Kong dollars, and is influenced by the Federal Reserve’s monetary policy. Over 80% of Hong Kong-listed companies derive their earnings from the mainland market. Therefore, to track the Hong Kong economy, we should follow the MSCI Hong Kong Index.
Shenghong Technology: Plans to Launch Employee Stock Ownership Plan with Total Funding Not Exceeding RMB 700 Million
$Shenghong Technology(02476.HK)$Announcement: The company intends to launch a new employee stock ownership plan, with total funding not exceeding RMB 700 million. Shares under the plan will be sourced from the company's A-share ordinary shares acquired through legally permissible means, including purchases in the secondary market. Eligible participants include the company's directors (excluding independent directors), senior management, and employees of subsidiaries included in the company’s consolidated financial statements. This plan remains in the preliminary planning stage and is subject to approval by the board of directors and shareholders, and therefore entails uncertainty.
Xiaomi Group increased its stake in Kingsoft through the open market, raising its ownership to 5.39%.
According to equity disclosure filings with the Hong Kong Stock Exchange,$Xiaomi Group-W(01810.HK)$Xiaomi Group increased its stake in Kingsoft through open-market purchases. As of the close of trading on that day, Xiaomi Group’s ownership interest rose to 5.39%. This increase indirectly raised Lei Jun’s personal stake in Kingsoft. Notably, Lei Jun’s change in shareholding did not result from direct purchases made through his personal account but was instead an indirect consequence of Xiaomi Group’s increased stake in Kingsoft, given Lei Jun’s status as Xiaomi Group’s controlling shareholder.
WeChat Releases Guidelines for Developers on Accessing the WeChat AI Ecosystem
According to WeChat Open Class, to provide users with a more intelligent interactive experience, the WeChat Open Platform—while fully respecting developers’ rights and autonomy—now offers developers convenient access to the WeChat AI ecosystem. Developers must actively authorize AI integration via the 'Mini Program Admin Console – AI Capabilities' section. The platform provides two options to accommodate development needs across teams of varying scales: Auto Mode: Authorize the platform to read the mini program’s source code during submission for review, requiring no additional development effort.
Simultaneously, the platform will analyze your mini program pages to enable direct operation by WeChat AI. Development Mode: Developers may customize AI integration based on their mini program’s specific business logic. Once evaluated and approved by the platform, such implementations can be invoked by WeChat AI. The two modes are not mutually exclusive and may be enabled concurrently.
Tencent has updated its medium-term note program.
Tencent (00700.HK)The company has updated its global medium-term note program. As of now, Tencent has outstanding notes with a total principal amount of USD 17.51 billion issued under this program. The company intends to issue notes to professional investors under the global medium-term note program within the next 12 months. Net proceeds from each issuance (including the proposed notes) are expected to be used for general corporate purposes. Tencent stated that JPMorgan, BofA Securities, and Morgan Stanley have been appointed as joint lead arrangers for the program.
Today's Focus
On the economic data front, China's trade balance for May, Germany's seasonally adjusted industrial production month-over-month for April, the U.S. NFIB Small Business Optimism Index for May, and the weekly change in ADP employment figures for the week ending May 23 will all be released.
18:00: U.S. NFIB Small Business Optimism Index for May
20:15, Weekly Change in ADP Employment (in ten thousands) for the Week Ending May 23, United States
20:30, U.S. Trade Balance for April (in USD billions)
22:00, Annualized Total Existing Home Sales for May (in ten thousands), United States
22:00, Monthly Wholesale Sales Rate for April, United States
Regarding financial results,$SailPoint (SAIL.US)$、$J.M. Smucker (SJM.US)$and$Uranium Energy (UEC.US)$released its earnings report before the U.S. market open,$Casey's General Stores (CASY.US)$released its earnings report after the U.S. market close.
Looking to pick stocks or diagnose stock performance? Want to know the opportunities and risks in your portfolio? For all investment-related questions,just ask Futubull AI!
Editor/melody