Trump threatens Iran, and the market is concerned that the U.S. will take proactive military action. The market generally expects the Federal Reserve to remain steady this time and keep interest rates unchanged. The three major U.S. stock index futures rose slightly, European stocks increased slightly, and the Asia-Pacific stock market remained basically flat. U.S. Treasury bonds, the dollar, gold, and oil prices fell by about 1%. European natural gas has risen for six consecutive days

Before the Federal Reserve's interest rate decision, U.S. stock index futures rose slightly. Iran released negotiation signals, and oil prices fell but remained close to a 5-month high

Reminder: The Federal Reserve's June interest rate decision statement has been released for nearly five hours, and U.S. President Trump has still not commented on Powell's decision to hold steady for four consecutive times on his own social media platform

Today's key economic events to watch include: the US financial markets closed for the Juneteenth holiday; the release of New Zealand's Q1 GDP data; Australia's May employment report; the Swiss National Bank's financial stability report and interest rate decision; speeches by European Central Bank President Christine Lagarde and other central bank officials; and the Bank of England's interest rate decision

Reminder: Please pay close attention to the following (all times are in Beijing time)

The Federal Reserve decided to maintain the federal funds rate at 4.25% to 4.5% during the June monetary policy meeting, in line with market expectations. This marks the sixth consecutive time since December of last year that the rate has been kept unchanged. Despite facing risks of rising inflation and slowing economic growth, the committee still anticipates two rate cuts within the year. The latest economic forecast shows that the expected GDP growth for the U.S. in 2025 has been revised down to 1.4%, while the PCE inflation expectation has been revised up to 3%. The Federal Reserve stated that economic growth is robust, but inflation remains slightly high. Powell emphasized that they will continue to monitor economic data

The Federal Reserve remains steady, with risks of stagnation in economic and inflation expectations

Apple is set to launch its first foldable iPhone in 2026, targeting high-end consumers with a price range of $2,000 to $2,500. Analyst Ming-Chi Kuo reports that assembly will begin in late 2025. The device is expected to feature a 7.8-inch inner display and a 5.5-inch external screen, with a focus on durability and minimizing screen creases. Apple may ship 3-5 million units in 2026, potentially increasing to 20 million over its product cycle, as it aims to redefine the foldable smartphone market.

Apple's Foldable iPhone May Arrive In 2026 With Premium Pricing, Sleek Design In Focus

On Wednesday (June 18), at the New York close, the yield on the U.S. 10-year benchmark Treasury bond remained flat at 4.3909%, trading within a range of 4.4087%-4.3377% during the day, showing a V-shaped trend. The yield on the 2-year U.S. Treasury bond fell by 1.04 basis points to 3.9414%, slightly rising to 3.9561% at 13:21 Beijing time, before plunging to 3.8824% following the release of the Federal Reserve's interest rate decision statement, with the subsequent decline narrowing

On Wednesday, among the top 20 stocks by trading volume in the U.S. market, Tesla traded $30.519 billion, closing up 1.80%. Tesla faces challenges regarding brand reputation and market performance, with a decline in market share. NVIDIA traded $23.237 billion, closing up 0.94%. TerraPower completed a $650 million financing, with NVIDIA becoming a new shareholder. Circle Internet rose 33.82%, and Coinbase Global rose 16.32%, both benefiting from the U.S. Senate's passage of the stablecoin bill

Top 20 trading volumes in US stocks on June 18: Amazon admits it may use AI to reduce the company's workforce

Emerging market currencies and stocks fell for the second consecutive day after Federal Reserve Chairman Jerome Powell indicated that import tariffs could drive up prices. The Federal Reserve kept interest rates unchanged and reiterated expectations for rate cuts in 2025, leading to a temporary decline in assets. MSCI Emerging Markets Currency Index closed down 0.1%, while the stock index fell 0.3%

Emerging market assets decline as Powell hints at worsening U.S. inflation

The Nasdaq Golden Dragon China Index preliminarily closed down 0.8%. Among popular Chinese concept stocks, JD.com and Li Auto fell 2%, Tencent fell 0.8%, PDD fell 0.2%, and Xiaomi fell 0.1%; XPeng rose 0.2%, and Pony AI rose 2%. In terms of Chinese concept ETFs, YINN fell 4%, KWEB fell 1.4%, DRAG fell 0.5%, and CQQQ fell 0.3%

The Federal Reserve has lowered its GDP growth forecast for this year and next year, expecting a 1.4% increase in GDP this year, while raising its unemployment rate and PCE inflation forecasts for this year and the next two years, with this year's PCE forecast at 3.0%. "New Federal Reserve News Agency": The Fed is open to the possibility of interest rate cuts in the second half of the year, but a restart of rate cuts requires seeing weakness in the labor market or strong indications that price increases due to tariffs are relatively moderate; the dot plot interest rate forecast highlights internal divisions within the Fed

The Federal Reserve continues to hold steady, stating that uncertainty has decreased but remains high, still expecting two rate cuts this year, indicating an increased risk of stagflation

Federal Reserve Chairman Jerome Powell will attend a U.S. Senate hearing on June 25

The Federal Reserve's dot plot shows that officials still expect two rate cuts this year, rather than the one that the market is worried about, which briefly boosted U.S. stocks. However, Federal Reserve Chairman Jerome Powell's pessimistic outlook for a significant rise in inflation in the coming months put pressure on U.S. stocks, causing all three major indices to briefly turn negative during the session. U.S. Treasury yields briefly hit a daily low, but the decline narrowed significantly afterward. Gold turned to a short-term rise during the day before retreating, with the decline widening

Powell's hawkish speech causes U.S. stocks to turn down during trading, while the daily gains in U.S. Treasuries narrow and gold declines further

Wolfe Research Chief Economist Stephanie Roth: The most important point from Federal Reserve Chairman Powell's press conference is that (the monetary policy of the FOMC) interest rates are not high. Given the high inflation in the United States, the Federal Reserve may not cut interest rates in 2025

Powell: It's hard for Americans to find a job, but very few people are lying flat

The three major U.S. stock indices turned lower, with the Philadelphia Bank Index's gain narrowing to 1.6%. The yield on the 10-year Treasury rose by 1 basis point to 4.4%, while the decline in the 2-year Treasury yield narrowed to less than 1 basis point, approaching 3.95%. Spot gold fell by more than 0.3%, nearing $3,375

U.S. stock and bond prices, Powell is holding a press conference

SoFi Technologies Inc's stock surged 5.37% to $15.21 on Wednesday, driven by strong company guidance and favorable macroeconomic conditions. The company projects over $3 billion in adjusted net revenue by 2025 and aims for annual revenue growth exceeding 25% through 2026. The Federal Reserve's decision to hold interest rates steady and potential rate cuts next year have positively impacted market sentiment. Additionally, news regarding a stablecoin bill could further benefit SoFi as a federally regulated bank.

SoFi Technologies Stock Is Surging Wednesday: What's Going On?

Powell: As immigration decreases due to the (U.S. President Trump's push to expel immigrants), the labor supply is diminishing

Powell: The impact of tariffs on the transmission to the U.S. CPI is uncertain

Powell stated that increasing tariffs could raise prices in the United States, and the impact on inflation may be more persistent. At the same time, there remains uncertainty regarding adjustments to trade and fiscal policies. The market carries risks, and investments should be made with caution; this article does not constitute personal investment advice

Powell: Tariffs may drive up prices in the United States.  
The impact of tariffs on inflation may be more persistent.  
Adjustments to trade policy and fiscal policy remain uncertain

Federal Reserve Chairman Jerome Powell: The impact of tariffs will depend on their levels. The increase in tariffs this year may put pressure on economic activity and push up inflation

Former Federal Reserve Vice Chairman Clarida: Pressure from the White House is not a consideration for the Federal Reserve's actions

The yield on the U.S. two-year Treasury bond fell by about 5 basis points in the short term, dropping to around 3.88%. The Federal Reserve released the June decision statement, lowering the U.S. GDP forecast for 2025 while raising the inflation forecast. Market risk warning, investment should be cautious, and this article does not constitute personal investment advice

The yield on the U.S. two-year Treasury bond briefly plunged about 5 basis points, hitting a daily low of nearly 3.88%, after the Federal Reserve released its June decision statement, lowering the 2025 U.S. GDP forecast and raising inflation expectations

Federal Reserve: It is expected that the GDP of the United States will grow by 1.4% in 2025, and is expected to increase by 1.7% in March

Before the release of the Federal Reserve's June FOMC interest rate decision statement, the US dollar index fell slightly by 0.1%. The dollar fell more than 0.3% against the yen, while it rose about 0.2% against the Swiss franc. The euro, pound, and Australian dollar all rose against the US dollar, increasing by more than 0.1% and 0.6%, respectively. Spot gold and silver prices fell slightly, and the yields on 10-year and 2-year US Treasury bonds also decreased. In the stock market, the S&P 500, Dow Jones, and Nasdaq all rose by more than 0.3%, while the Philadelphia Bank Index increased by 1.9%

Bank of China Fund announced that Zhang Yan has resigned as chairman due to work adjustments, and Executive President Zhang Jiawen will temporarily take over the position. Zhang Yan has extensive experience in the financial industry and has held several senior management positions at Bank of China. Bank of China Fund has a public offering scale of over 650 billion yuan and faces challenges in maintaining performance. The company expressed gratitude for Zhang Yan's contributions and has completed the relevant filing procedures

Another public fund "specialist" has left, the chairman of Bank of China Fund announced his departure after eight years

Doubao wildly adds product features, the AI battlefield remains unclear

U.S. stocks rose slightly as traders anticipated the Federal Reserve's policy decision, with expectations of steady rates. The S&P 500 remained above 6,000, while the Nasdaq 100 gained over 100 points. Visa and Mastercard fell after a stablecoin regulatory bill passed, while Coinbase surged 12%. Treasury yields declined, and oil prices dropped 1.8%. Notable stock movements included Intel up 3.8% and Wolfspeed down 17% due to bankruptcy plans. Overall, the market is influenced by geopolitical uncertainties and economic projections from the Fed.

Wall Street Rises Ahead Of Fed, Payment Stocks Fall On Stablecoin Bill: What's Driving Markets Wednesday?

Alibaba is positioning itself as a key player in China-led ETFs with its advancements in AI and instant commerce. The launch of the Qwen 3 AI models, compatible with Apple devices, enhances its role in consumer-facing AI. Additionally, its instant commerce platform has achieved 40 million daily orders, outpacing traditional e-commerce competitors. These developments align with major ETF themes, making Alibaba a significant name in various China-focused ETFs. By integrating AI and retail, Alibaba is creating unique growth opportunities for investors.

Alibaba's High-Speed Comeback: The AI-Commerce Cocktail Lifting ETF Hopes

Bank of Canada Governor Macklem warned of the risks of inflation rebound and the impact of tariffs, pointing out that trade issues may directly affect the CPI. Excluding volatility, Canada's CPI is slightly higher than expected, and the impact of tariff costs depends on demand and CPI expectations. If tariffs persist, there may be a 75% cost pass-through in the next year and a half. Many companies have already felt the cost increases brought about by the trade war, and consumer spending by employees in some industries has been paused. The central bank hopes to maintain a low CPI through policy and emphasizes the importance of open trade with the United States for the Canadian economy

The Bank of Canada warns about the risks of inflation rebound and the impact of tariffs

Amazon Web Services (AWS) is expected to announce an upgrade to its Graviton4 chip, enhancing performance and energy efficiency, and competing with Intel and AMD. The chip, featuring 600 Gbps bandwidth, is part of AWS's strategy to reduce costs and address supply issues. Graviton4, based on Arm architecture, offers four times the performance of its predecessor and is already adopted by major clients. AWS aims to lessen reliance on Nvidia's GPUs by developing custom chips, with significant investments in AI technology.

Amazon's Powerful AWS Custom Chip To Get An Upgrade - Why Is It Important?

Wells Fargo & Co (WFC) shares rose 2.11% to $74.03 following reports that U.S. regulators may ease capital requirements for major banks. The Federal Reserve, FDIC, and OCC are considering lowering the enhanced supplementary leverage ratio (eSLR), which could free up capital and enhance bank profitability. This change, potentially discussed on June 25, aims to improve liquidity in the U.S. Treasury market and may lead to increased shareholder returns through dividends and stock buybacks. Wells Fargo's 52-week high is $81.50 and low is $50.15.

What's Going On With Wells Fargo (WFC) Stock?

This article compares Microsoft with its competitors in the Software industry, analyzing key financial metrics and market position. Microsoft's Price to Earnings and Price to Book ratios suggest potential undervaluation, while its high Price to Sales ratio indicates possible overvaluation. The company shows strong performance with a higher EBITDA and gross profit compared to industry averages, alongside a notable revenue growth of 13.27%. Additionally, Microsoft's lower debt-to-equity ratio of 0.19 reflects a stronger financial position relative to peers, indicating favorable investment potential.

Comparing Microsoft With Industry Competitors In Software Industry

Marvell Tech received high praise from Wall Street analysts for its customized AI chip activities, with its stock price rising over 10% in early trading on Wednesday. Analysts believe that Broadcom will be the biggest beneficiary of Marvell's AI activities. Analyst Mark Lipacis pointed out that the customized AI chip design projects are expected to ramp up quickly between 2026 and 2027, potentially generating billions of dollars in lifecycle revenue. Marvell maintains an "Outperform" rating with a target price of $133

Marvell ignites expectations for a surge in AI ASIC demand, with Broadcom as the biggest beneficiary?

Intel appointed three executives from the chip industry on Wednesday, aiming to reform its senior management team and reverse the company's decline. CEO Pat Gelsinger plans to reduce the workforce, focus on customer satisfaction, and ensure the success of the foundry business. The newly appointed leaders include Greg Ernst, Srinivasan Iyengar, Jean-Didier Allegre, and Sharendra Desai, who will play important roles in the company's future development

Intel appoints executive in the engineering field

A UBS report forecasts the humanoid robot market will grow significantly, with 2 million robots by 2035 and 300 million by 2050. The market could reach $30-$50 billion by 2035 and $1.4-$1.7 trillion by 2050, benefiting industries like automation, auto parts, and semiconductors. Companies like Nvidia, Tesla, and Honeywell are expected to gain from this trend. The widespread adoption of humanoid robots may take over five years, but their impact on labor shortages and aging populations is anticipated to be substantial.

Nvidia, Tesla, Honeywell Could Ride $1.7 Trillion Robot Wave As UBS Sees 300 Million Humanoids By 2050

Marvell has revised its expectations for the potential market size (TAM) of data centers in 2028, increasing it from last year's USD 75 billion to USD 94 billion. Among these, the custom XPU market is expected to reach USD 40 billion, with a CAGR of 47%, while the supporting components for XPU are projected to reach USD 15 billion, with a staggering CAGR of 90%, nearly doubling each year

Marvell shares the latest AI progress: Custom computing is fully exploding, targeting a market of $94 billion

The focus points of the Federal Reserve's June FOMC interest rate decision include: whether it will release clues about interest rate cuts within the year; discussing the impact of Trump's tariffs on U.S. inflation, employment, and supply chains; analyzing the international situation, particularly the tensions between Israel and Iran; exploring the U.S. fiscal situation; assessing the impact of Trump's expulsion of "illegal" immigrants on the job market; and discussing Trump's deregulatory proposals, stablecoin legislation, and financial market volatility issues

Focus of the Federal Reserve's June FOMC Interest Rate Decision

NVIDIA-supported AI startup SandboxAQ has released a large-scale synthetic dataset aimed at accelerating new drug development by simulating the interactions between drug molecules and proteins. The platform utilizes high-performance computing to generate 5.2 million virtual molecules, addressing core pain points in drug development and significantly enhancing predictive efficiency, reshaping the early stages of drug development

NVIDIA supports the AI pharmaceutical revolution, SandboxAQ synthetic data solves the drug screening dilemma

As of the week ending June 14, the number of initial jobless claims in the United States decreased by 5,000 to 245,000, stabilizing at a high level for the year. The number of continuing claims slightly fell to 1.95 million, reflecting a slowdown in the labor market. Economists point out that the time it takes for unemployed individuals to find new jobs has lengthened, and the pace of hiring by companies has slowed. The market expects the Federal Reserve to keep interest rates unchanged while assessing the impact of tariff policies. Overall data shows that economic demand is cooling, with new housing starts dropping to the lowest level since the pandemic

The number of initial jobless claims in the United States slightly decreased to 245,000, stabilizing at this year's high level

Deutsche Bank AG's research indicates that the annualized real return on oil over the past 150 years has been only 0.5%, significantly lower than the performance of U.S. stocks and government bonds. Oil investments lack cash flow returns, and technological advancements suppress price increases, limiting long-term investment value. Nevertheless, oil prices are highly volatile in the short term, and investors should consider short-term operations rather than long-term holdings

Is short-term investment in oil preferable to long-term? Deutsche Bank: The annualized return over the past 150 years is only 0.5%

Since entering the takeaway market in March, JD.com has achieved a daily order volume exceeding 25 million through high subsidies, but the market generally holds a pessimistic view of its prospects. Dolphin Research believes that JD.com's takeaway business is a long-term strategy rather than a short-term action, and its impact will gradually become apparent. Analysis indicates that JD.com's takeaway business is closely related to instant retail and needs to be understood from a broader perspective of instant retail regarding its motivations and goals

JD.com's "big gamble" on food delivery: desperate measures or a carefully crafted strategy?

Goldman Sachs stated that as the price threshold rapidly declines, it will pave the way for mass adoption, with the average selling price of AI/AR glasses expected to drop from $306 in 2025 to $192 in 2030. In addition, the continuous improvement of AI capabilities is becoming a key factor in product differentiation, with Rokid glasses integrating multiple large models such as Tongyi Qianwen, while Meta's products are equipped with self-developed AI models

China's AI/AR glasses about to explode? Goldman Sachs: Will replicate the explosive growth path of TWS earbuds, with sales reaching 7 million units by 2030!

The U.S. Senate passed the Stablecoin Innovation Act, and Musk's urine test results are normal. The Federal Reserve will announce its interest rate decision, expected to remain at 4.25%-4.5%. The number of initial jobless claims is 245,000. In individual stocks, Slide went public on Nasdaq today, with an IPO price of $17 per share; Boeing completed the restructuring of its global services division; Cathie Wood sold shares of Circle; OpenAI accused Meta of poaching; Chain IQ suffered a ransomware attack; Microsoft reached a partnership with AMD; Dell announced a quarterly cash dividend; Ford and Honda recalled vehicles; Disney and Amazon reached a new collaboration

Daily U.S. Stock Market News Briefing (June 18, Wednesday)

Tencent Music has announced its acquisition of Ximalaya for $1.26 billion, enhancing its position in the long-form audio market. Ximalaya, with over 600 million users, will maintain its brand and operations post-acquisition. This deal allows Tencent Music to enter the in-vehicle audio market, as Ximalaya's products are integrated with over 80 car manufacturers, including Tesla. Despite past financial struggles, Ximalaya turned a profit in 2023, and Tencent Music's strong financials support the acquisition.

Tencent Music Taps Into In-Vehicle Audio Market With Ximalaya Deal

The three major banking regulatory agencies in the United States are planning to reduce the enhanced supplementary leverage ratio (eSLR) by up to 1.5 percentage points in order to encourage banks to increase their holdings of government bonds, thereby boosting market liquidity. However, some experts question the actual effectiveness of this policy and are concerned that it may exacerbate systemic risks rather than effectively address issues in the government bond market

Capital buffer reduced by 1.5%, U.S. regulators plan to relax capital rules to promote government bond trading

In May, U.S. new housing starts decreased by 9.8% month-on-month, expected -0.8%, previous value 1.6%

Senior economist Mohamed El-Erian warns that the Federal Reserve's monetary policy is clouded by uncertainties related to Trump tariffs and the Israel-Iran conflict. He anticipates a cautious approach from the Fed, which is expected to maintain interest rates at 4.25%-4.5% but may signal potential rate cuts later this year. Other analysts, including Ed Yardeni and Craig Shapiro, express concerns about inflation and the Fed's strategy regarding U.S. Treasuries. Market projections indicate a high likelihood of unchanged rates in June, with potential cuts later in the year.

Mohamed El-Erian Warns Fed's Path Forward Is Clouded By Trump Tariffs And Israel-Iran Conflict

The US dollar exchange rate has significantly declined this year, with a drop of nearly 10%, marking its worst performance since 1986. Analysts believe that a recovery for the dollar may take several years, and current short positions have reached a 20-year high, indicating that the market is heavily crowded with short trades on the dollar. Although there may be a technical correction in the short term, history shows that crowded trades can persist. The Federal Reserve may release dovish signals, and the conflict in the Middle East has driven up oil prices, leading to a divergence in market views on the dollar's trajectory

The "collapse" of the US dollar is underway: a mass exodus is overwhelming, but it's just the beginning?

The Federal Reserve will hold a meeting on June 25 to discuss easing the supplementary leverage ratio requirements for large banks. This is the first meeting chaired by the Federal Reserve's new regulatory head, Michelle Bowman, who is inclined towards loose policies and may promote regulatory relaxation on Wall Street. The U.S. banking industry is calling for adjustments to the supplementary leverage ratio to enhance liquidity and support lending activities. The market is focused on the impact of this meeting on the SLR