Bitget UEX, a daily newspaper, a Korean medium writer's blog, collapsed? Google's incorporated into the Dowfinger Unit; the luminaries are coming out

I. Hot spots

Federal Reserve Developments UNITED STATES JUNE PMI OPENINGS WERE OVER-ANTICIPATED AND EMPLOYMENT INDICATORS WERE WEAK

• THE INITIAL VALUE OF THE COMBINED PMI ROSE TO 52.2 AND THE MANUFACTURING SECTOR TO 55.7 (A 49-MONTH HIGH), BUT THE SUB-EMPLOYMENT FELL TO A SIX-YEAR LOW。
• SERVICE PMI HAS RECOVERED TO 51.3, AND ENTERPRISE INVENTORY PURCHASES ARE AT AN ALL-TIME HIGH. MARKET IMPACT: DATA REFLECT ECONOMIC RESILIENCE BUT EMPLOYMENT PRESSURES ARE EVIDENT, REINFORCING THE FED ' S DUAL FOCUS ON INFLATION AND THE LABOUR MARKET, OR INFLUENCING EXPECTATIONS FOR SUBSEQUENT POLICY PATHS。

Major international commodities Halmuz Channel unsealed, Middle Eastcrude oilSupply flow back

• Following the reopening of the Strait, Middle East crude oil entered the European market at an accelerated pace, and oil prices for the North Sea oil base component fell to two years low。
• Oversupply concerns have increased and the Atlantic basin has been overloaded. Market impacts: Oil prices are under pressure, highlighting the fact that the geo-situation mitigates the direct impact on energy supply and demand, and short-term crude oil, while mitigating inflationary pressures。

Macroeconomic policy Korean tax reform discussions triggered a collapse in the stock market, and the memory of chips increased the echoes

• KOREA'S MULTIPARTY DISCUSSIONS INVOLVED THE INCLUSION OF UNREALIZED GAINS ON SHARES IN A COMBINED TAX, AND KOSPI MELTED, WITH SAMSUNG AND SK HERCULES FALLING。
• KOREAN MEDIA REPORTS THAT SK HERCULES SLOWS THE HBM4 EXPANSION TO UNIVERSAL USEDRAMYeahYoung Wai DaRubin expected a reduction in production. Market impacts: Policy uncertainties and industry chain acclaims have been added to drag global storage and semiconductor plates, highlighting the conductive effects of regional policies on global science and technology supply chains。

Market revisiting

large commodities & amp; foreign exchange performance

• Cash gold: approximately $4,090/ounce, -0.34%
• Cash and silverapproximately $61/ounce, -0.33%
• WTI CRUDE OIL: approximately $72.5 per barrel - 0.79 per cent
• Brent crude oil: approximately $76.4 barrels, -0.87 per cent
• UNITED STATES DOLLAR INDEX (DXY)+0.05%

Driver analysisThe reopening of the Strait of Hormuz and the reopening of crude oil from the Middle East have directly exacerbated the excess supply in the European market, the decline of the North Sea reference oil species to low levels and the overall pressure on oil prices. The United States dollar index remained high and was influenced by the Federal Reserve's potential hawk signals and employment data to suppress prices of precious metals。GoldI don't knowSilverThe weakening of the United States dollar in relation to the volatility of risk sentiment has, however, eased some of the need for risk avoidance. The institutional view is that short-term supply and demand imbalances and macro-policies are expected to continue to dominate, with oil prices declining or further easing global inflationary pressures, while precious metals lack strong upward mobility in the short term。

Encryption Currency Performance

• BTC: approximately $62,866, -2.17 per cent
• ETH: approximately $1,667, 3.8 per cent
• Total market value of encrypted currency: approximately $2.24 trillion, -1.9 per cent
• Market warehouse situation: 24h total blast warehouse approximately $559 million, additional single explosion warehouse 493 million
• Bitget BTC/USDTLiquidation maps: THE CURRENT BTC PRICE IS ABOUTUSD 62,765DownUSD 61,500-62,500There is a large accumulation of multiple clearing chips, which, if prices continue to reverse, may trigger multiple head stoppages and magnify downward fluctuations。AboveUSD 63,500 - 65,000There's pressure to settle things at short noticeAround $63,500LIQUIDATION IS THE MOST INTENSIVE, IF PRICES BREAK THROUGH THE REGION OR TRIGGER EMPTY SQUEEZES AND PUSH THE BTC FURTHER FORWARD。

• NET INCOMING/OUTWARD SPOT ETF: BTC SPOT ETF NET OUTFLOW OF $68.3 MILLION YESTERDAY。

Driver analysis: U.S.S. TECHNOLOGY PLATE BACKSLIDING TO THE ENCRYPTION MARKET, STORAGE OF CHIP RUMORS INCREASES RISK AVERSION, BTC/ETH SYNCHRONIZED PRESSURE BUT BTC IS RELATIVELY ROBUST. LEVERAGE LIQUIDATIONS ARE LARGELY MONOPOLISTIC, SHOWING THAT HIGH-RISE HOLDOUTS ARE BEING TESTED; AND ETF STILL HAS A SMALL NET INFLOW, SHOWING INSTITUTIONAL BOTTOM SUPPORT. AT THE MACRO LEVEL, THE STRENGTH OF THE DOLLAR AND GEO-DIFFICITY ARE COMBINED, AND THE TECHNICAL ASPECTS TEST THE KEY UNDERPINNINGS. THERE IS AN INSTITUTIONAL CONSENSUS THAT SHORT-TERM FLUCTUATIONS HAVE INCREASED, BUT THAT THE TREND TOWARDS LONG-TERM INFLOWS HAS NOT CHANGED, AND ATTENTION HAS BEEN PAID TO THE ETF DYNAMICS AND MACRODATA GUIDE TO RISK ASSETS。

United States equity index performance

• Finger: about 51,667 points (-0.09%)
• Pistol 500: about 7,365 points (- 1.44 per cent)
• Nut finger: About 25,587 points (-2.1%)

Technology giant dynamics

• NVDA$200.04 (4.13%)
• AAPL$294.30 (-0.91%)
• MSFT: $373.94 (+1.80%)
• GOOGL$346.13 (-0.98%)
• AMZN$234.11 (+0.57%)
• META$562.20 (-0.29 per cent)
• TSLA$381.61 (-5.79%)

Summary of performance and driver analysisTHE OVERALL PRESSURE OF THE TECHNOLOGY GIANT, WITH A SIGNIFICANT RETWEETING OF THE NAVIGATOR, IS DUE MAINLY TO THE LOSS OF THE MEMORY OF THE CHIPS AND THE COLLAPSE OF THE SEMICONDUCTOR PLATE. GOOGLE'S CHOSEN-TRACKING COMPONENT UNITS ARE MORE SYMBOLICALLY ADJUSTED; INDIVIDUAL SHARES ARE CLEARLY DIVIDED, SUPPORTED BY SPECIFIC MESSAGES, SUCH AS TSLA, AND NVDA/GOOGL ARE HAMPERED BY CONCERNS ABOUT THE INDUSTRY. AI THE LONG-TERM LOGIC OF DEMAND HAS REMAINED UNCHANGED, BUT SHORT-TERM HIGH VALUATIONS HAVE FLUCTUATED WITH ANECDOTAL AMPLIFICATIONS, AND THE MARKET HAS FOCUSED ON CATALYSTS SUCH AS THE AMERICAN LIGHT PRESS。

Plank Instant Observation Semiconductor/storeA significant decline (with a drop of about 7-8 per cent in the Philadelphia semiconductor index)

• Representation of units: U.S.S.U., MODIWDCWHEN THE FALL WAS OVER 13%, THE SK HERCULES FELLARMTHE DROP WAS 7-10%, WHILE THE NVDA FELL BY ABOUT 4%AMDDown by 5%。
• Drivers: Multiple profit-eating and widening market concerns. First, Korea’s multi-party parliamentarians have jointly discussed a policy paper for the integration of unrealized gains from equities into an integrated tax system, directly triggering the collapse of KOSPI, the collapse of weight shares such as Samsung Electronics and SK Hercules, and the market’s concern that this policy, if advanced, would discourage investment in high-value technology. Second, South Korean media reports that SK Hercules is slowing the pace of expansion of HBM4 production and shifting resources to a generic DRAM, mainly due to the continuous downward revision of the next generation of Rubin platform production forecasts in Weidar. This “small essay” was quickly reproduced by international media such as Bloomberg and CNBC, and traders pointed to uncertainty about the future of the high-end storage needs of AI。

Depth Analysis: HBM SERVES AS THE CORE BOTTLENECK RESOURCE FOR AI TRAINING AND REASONING, FOLLOWING A GENERAL EXPECTATION IN THE MARKET THAT SUPPLY CONSTRAINTS WILL UNDERPIN THE HIGH GROWTH AND MĀORI RATE OF STORAGE OF GIANTS. HOWEVER, THE SLOWING DOWN OF PRODUCTION AND THE NEED-LED ADJUSTMENT OF THE BRITISH-WEDDAS RAISED WIDESPREAD QUESTIONS AS TO WHETHER THE PEAK OF CAPITAL EXPENDITURE IN AI IN THE SECOND HALF OF 2026 WAS PREMATURE OR SLOWING. THIS CHAIN-CONDUCTIVE EFFECT NOT ONLY STRIKES THE STORAGE PLATE, BUT ALSO SPILLS OVER TO THE ENTIRE SEMICONDUCTOR ECOLOGY, RESULTING IN A CONCENTRATION OF PROFITS IN THE HIGH-VALUED AI HARDWARE UNIT. IN THE SHORT TERM, THE PRESSURE ON THE VALUATION OF THE PLATES IS EVIDENT; IN THE MEDIUM TERM, WHILE SOME OF THE PESSIMISM IS EXPECTED TO BE ALLEVIATED IF THE FORTHCOMING FINANCIAL STATEMENTS, SUCH AS AMERICAN LIGHT, PROVIDE POSITIVE GUIDANCE (E.G. AN INCREASE IN THE SHARE OF THE CITY OF HBM OR A HEALTHY STOCK), GEO-POLICY UNCERTAINTY AND MACRO-INTEREST RATE ENVIRONMENTS WILL STILL CONSTRAIN RESILIENCE. INVESTORS NEED TO CLOSELY TRACK SUPPLY CHAIN PHYSICAL OUTPUT DATA AGAINST CAPITAL EXPENDITURE PLANS OF LARGE CLIENTS TO DISTINGUISH BETWEEN CYCLICAL FLUCTUATIONS AND STRUCTURAL OPPORTUNITIES。

III. In-depth interpretation of United States shares

1.Alphabet(GOOGL) - SELECTIVE INDICATOR COMPONENT UNIT Summary of events: Pupudo Jones Index has officially announced that the Google parent company Alphabet A (GOOGL) will be included in the Dow Jones Industry Average Index (POPI) to replace long-term member Verison Communications. This adjustment also involves other index movements, includingHoneywellAerospace incorporates and continues to retain the index 500 and the replacement of IES and Toast ' s medium-disk index in the marker. Alphabet had previously completed a break of 20 splits in 2022, significantly reducing the risk of distortion of the index price weighting mechanism due to excessive stock prices。Market interpretation: According to several institutions, this inclusion is not just an index technical adjustment, but a deeper reflection of the structural shift in the business landscape of the United States from traditional telecommunications to technology giants. Alphabet, as a price-weighted index, will have less weight than its weighting influence on the market value of 500 or NASDAQ 100; the scale of passive funds for tracking is relatively limited, and actual rebalancing is expected to affect moderation, mainly symbolically. However, it marked the culmination of a comprehensive embrace of the Blue Financing Index at the forefront of the AI and digital economy。Investment revelation• Short-term market responses, or less modest, with a focus on financial flows and plate sentiment; in the long term, this will help to raise Alphabet’s profile among traditional investors, strengthen the weight of science and technology in the blue matrix and suggest tracking its potential for valuation expansion in the context of AI search and cloud business growth。

2.Cerebras Systems- Over 10% after the financials Summary of events: Cérebras Systems, the initial company of the AI chip, issued a first quarter performance of $2026, which amounted to $194.3 million, an increase of 94 per cent over the same period, but a loss of $0.22 per share. The significant fall of over 10 per cent in stock prices following the release of performance continues the overall weakness of the semiconductor plate。Market interpretation: As the “Inveda Challenger”, Cerebras has demonstrated an innovation advantage in the crystal-circle engine technology, but high growth, coupled with sustained losses, has raised concerns among investors about the profitability path and the speed of burning money. Added to the reports of a slowdown in the production of the SK Hercules HBM and the expected adjustment of the industrial chain by Rubin in Weidar, the prospects for short-term demand for the entire AI hardware ecosystem were questioned and the pressure of a systematic retrenchment was amplified。Investment revelationTHE COMPETITION FOR AI INFRASTRUCTURE HAS ENTERED A HOT PHASE AND SHORT-TERM PROFIT FLUCTUATIONS ARE NORMAL; INVESTORS WHO HAVE A LONG-TERM VISION OF THEIR TECHNOLOGICAL BARRIERS AND VERTICAL INTEGRATION CAPABILITIES CAN MOVE IN A STEP-BY-STEP FASHION, BUT FOLLOW-UP MĀORI RATE IMPROVEMENTS AND LARGE CLIENT LANDINGS NEED TO BE CLOSELY MONITORED TO AVOID HIGH VALUATION RISK。

3.SpaceX- $25 billion in bonds to be issued Summary of eventsSpaceX launched the first open bond issuance scheme, with $25 billion to be raised, with bond terms ranging from 5 to 30 years. The initiative, which is designed to test the confidence of the fixed-income market in its rocket manufacturing, the star chain and the relevant AI blueprint, has attracted nearly $90 billion in requisition orders。Market interpretation: According to investment bankers, this is an important sign of future more financing transactions for SpaceX. Despite the current resonance of the technology unit against the interest rate environment, strong requisitions show that investors remain confident about the long-term growth potential of the Mask-based business, in particular the scalability of the chain in synergy with potential AI data centres. The Bank hopes to create a good market image and pave the way for subsequent refinancing。Investment revelationSuccessful bond issuance will further strengthen the corporate valuation base and optimize the capital structure; investors should focus on their possible strategic synergies with Tesla (e.g., combined discussions) and the supporting role of the chain cash flow for the group as a whole, suitable for long-term space and emerging science and technology themes。

4. Micron Technology (MU) - Fiscal front focus Summary of eventsTHE MOST RECENT QUARTERLY PERFORMANCE WILL BE RELEASED AFTER THE US STOCK, WITH A HIGH LEVEL OF MARKET INTEREST IN THE PERFORMANCE OF ITS HBM AND DRAM OPERATIONS IN THE CONTEXT OF AI DEMAND, AND THE DE-DE-MINING AND RECOVERY OF STOCKS. EARLIER, THERE HAD BEEN A SIGNIFICANT RETURN TO THE RUMOUR THAT THE PLATE HAD SLOWED DOWN DUE TO THE EXPANSION OF SK HERCULES。Market interpretation: IT IS GENERALLY EXPECTED THAT AS KEY PLAYERS IN THE FIELD OF MEMORY, THE PERFORMANCE WILL DIRECTLY TEST THE TRUE LANDING INTENSITY OF AI CAPITAL EXPENDITURE. HIGH-BANDWIDTH MEMORY (HBM) SUPPLY CONSTRAINTS, IF GUIDED BY OPTIMISM OR IMPROVED STOCKS, WILL EASE THE MARKET ' S MISGIVINGS ABOUT PEAKS IN STORAGE DEMAND; VICE VERSA MAY FURTHER SUPPRESS SEMICONDUCTOR VALUATIONS. ANALYSTS STRESSED THE NEED TO DISTINGUISH BETWEEN CYCLE RECOVERY AND THE CONTRIBUTION OF AI STRUCTURAL GROWTH。Investment revelation: THE FINANCIAL RESULTS WILL SERVE AS A SHORT-TERM CATALYST FOR THE PLATE, AND IT IS RECOMMENDED THAT ATTENTION BE PAID TO THE HBM-BASED INCREASE AND MĀORI RATES GUIDELINES; FOR INVESTORS WHO LOOK FORWARD TO THE MEMORY CYCLE, THE CURRENT SWITCHBACK OR THE PROVISION OF A STRATEGIC ENTRY WINDOW IS SUBJECT TO MACRO-GEOMETRIC INTERFERENCE。

5.Microsoft(MSFT) Summary of eventsMICROSOFT ANNOUNCED THAT ITS FIRST DATA CENTRE IN MOUNT PLEASANT, WISCONSIN, IN THE UNITED STATES, HAD BEEN FULLY SHIPPED, WITH NEARLY 550 FULL-TIME STAFF, AND PLANNED TO INVEST $4.7 BILLION IN THE STATE ' S MEGAPROJECTS BETWEEN 2024 AND 2028. THE FACILITY, WHICH COMPLETED ON-LINE IN APRIL THIS YEAR, IS AN IMPORTANT MILESTONE IN THE EXPANSION OF MICROSOFT AI AND CLOUD INFRASTRUCTURE。Market interpretation: The agency believes this highlights Microsoft's heavy-gold layout in AI infrastructure, and Azure Cloud Services andOpenAICOOPERATION FORMS A CLOSED CIRCLE. DATA CENTRE DELIVERY WILL INCREASE COMPUTING CAPACITY AND UNDERPIN GROWTH IN ENTERPRISE-LEVEL AI DEMAND, BUT CAPITAL RETURN AND ENERGY COST PRESSURES WILL STILL REQUIRE ATTENTION DURING HIGH INPUT PERIODS. OVERALL, THIS IS CONSISTENT WITH THE TREND OF AI CAPITAL SPENDING BY THE TECHNOLOGY GIANT。Investment revelation• LONG-TERM WIND AND AI OPERATIONS TO ACCELERATE, WITH RECOMMENDATIONS TO TRACK FOLLOW-UP UTILIZATION AND REVENUE CONVERSION EFFICIENCY; AS A DEFENSIVE TECHNOLOGY GIANT, MSFT PROVIDES RELATIVE STABILITY IN PLATE FLUCTUATIONS, SUITABLE FOR CORE HOLD CONFIGURATION。

IV. Developments in encryption money projects

1. Melon Bank, New YorkBNYGlobal ETF supervisor Ben Slavin states that asset managers are accelerating the monetization of ETF projects, driven mainly by investor demand and fear of missing early opportunities in block chain finance.”FOMOThe mood。

THE UNITED STATES HOUSE OF REPRESENTATIVES PASSED HOUSING LEGISLATION BY 358 VOTES TO 32, WHICH CONTAINS A TEMPORARY BAN ON THE CENTRAL BANK DIGITAL CURRENCY (CBDC), WHICH WILL LAST UNTIL 2030. THE BILL HAS NOW BEEN SENT TO PRESIDENT TRUMP FOR SIGNATURE. EARLIER, THE UNITED STATES SENATE HAD PASSED A HOUSING BILL THAT INCLUDED A FOUR-YEAR FEDERAL RESERVE CBDC BAN。

V. Today ' s market calendar

Data release schedules

The big news

Institutional perspective: A WELL-KNOWN INVESTMENT BANK ANALYST BELIEVES THAT, ALTHOUGH YESTERDAY ' S FINGERING WAS DRIVEN BACK BY SEMICONDUCTOR PRESSURE, IT WAS RELATIVELY TENACITY, REFLECTING THE MARKET ' S SUPPORT FOR NON-TECHNOLOGY BLUES. TENSIONS BETWEEN THE UNITED STATES AND IRAN HAVE EASED ENERGY STABILITY, AND OIL PRICES HAVE DECLINED IN THE SHORT TERM BUT LONG-TERM DEMAND REMAINS. THE ENCRYPTED MARKET FLUCTUATES WITH RISK ASSETS, AND SMALL INFLOWS OF ETF PROVIDE A BUFFER. ON THE WHOLE, AI HAS NOT CHANGED ITS LONG NARRATIVE, AND ANALYSTS HAVE REVISED THEIR TARGETS UPWARDS TO 8,000 + POINTS, SUGGESTING THAT ATTENTION BE PAID TO THE VALIDATION OF VALUATION PRESSURES BY QUARTERLY FISCAL CATALYSTS AND MACRODATA. THE HIGH-VALUE SEGMENTS ARE SUBJECT TO INCREASED SHORT-TERM FLUCTUATIONS, BUT THE INSTITUTIONS STILL APPRECIATE THE STRUCTURAL OPPORTUNITIES FOR TECHNOLOGY AND ENCRYPTION。

DISCLAIMER: THE ABOVE IS COLLATED BY AI, MANUALLY ISSUED ONLY FOR VALIDATION AND IS NOT RECOMMENDED FOR INVESTMENT. FOR UNAVOIDABLE DEVIATIONS IN THE TEXT, PLEASE REFER TO MARKET INSTANTANEOUS DATA。