Review of financial markets - US stock markets, Asian markets, corn, Apple, Microsoft, Boeing
Australia's central bank kept interest rates unchanged, as expected, although it said inflation remained high and was falling more slowly than expected.
Large capital flows from mainland China into the Hong Kong stock market have put downward pressure on the yuan. Although the Hang Seng was set to snap its 10-day winning streak on Tuesday with a moderate decline, it is almost 15% above last month's lows.
The MSCI Asia ex-Japan index hit a 15-month high.
Factory orders in Germany are a major highlight of the economic calendar, along with retail sales figures in Europe.
Chicago corn prices rose for a fifth straight session, reaching their highest level in a year, while wheat hit a nine-month high as unfavorable weather conditions dampened the outlook.
Microsoft founder Bill Gates continues to lead the corporation's artificial intelligence efforts behind the scenes. Business Insider reports with reference to former and current company executives.
Robinhood (HOOD) said it received a notice from the SEC. The Securities and Exchange Commission is threatening to file a lawsuit against HOOD's cryptocurrency division.
Coinbase about BTC. BTC's recent weakness was due to traditional financial markets and not due to any reason.
Bloomberg: Saudi Arabia will increase investment for mobile games after the success of Monopoly Go.
Savvy Games Group plans to increase investments in games. Savvy Games is owned by the country's government fund. In April 2023, the fund acquired Scopely studio for $4.9 billion.
Howard Schultz gives advice to his successor at Starbucks via LinkedIn - WSJ. The former CEO calls for a "focus on customer experience" in a note after the company lost profit.
Atos is considering four restructuring proposals - WSJ. Atos said the offers came from a group of bondholders and banks, Bain Capital, EP Equity Investment and Onepoint, adding that it had signed a $108 million bridge financing agreement with bondholders.
Li Auto shares surged after the Chinese electric vehicle maker posted large orders for its first model priced under 300,000 yuan ($41,500).
Vodafone intends to integrate a crypto wallet into the SIM card.
Boeing (BA) stock had a rough day. They first rose ahead of NASA's first scheduled astronaut launch to the International Space Station on Monday night at 10:34 pm ET. And as a result, prices fell by 1% - the FAA is launching a new investigation into Boeing (BA) for possible falsification of documents.
Shares of Tyson Foods (TSN) fell 6% on Monday. Even though the company reported better-than-expected second-quarter earnings. While the company beat revenue forecasts, it missed net sales due to slowing consumer spending and challenges in its chicken production.
Bank of America and BNP Paribas SA are close to an agreement in one of the most interesting banking transactions of this year.
Organization of the division of Sanofi's healthcare business.
Tesla has begun another wave of layoffs. Including employees from the software, services and engineering departments, Electrek reported, citing emails and sources familiar with the matter.
More than two-thirds of bets are now on the Fed cutting rates in September, according to the CME FedWatch Tool. Most traders expect at least two rate cuts before the end of the year.
"I think we've had a soft landing," Apollo Global Management (APO) CEO Mark Rowan said in an interview at the Milken Institute Global Conference on Monday. "Will this continue? I think so."
Warren Buffett praised Tesla. Elon Musk immediately responded that Buffett should buy TSLA shares.
Palantir (PLTR) shares are down 8% after the report. The report was good, but everything was in price - the day before, PLTR shares had just risen by 8%.
AAPL shares are up 0.7% in premarket trading. Apple is working to develop its own artificial intelligence chips for data center servers. The project, called ACDC (which stands for Apple Chips in Data Centers), has been underway for several years in collaboration with TSMC. The project is focused on running AI models rather than training AI models, which is dominated by NVDA.
The company is expected to make a presentation at the upcoming Apple Worldwide Developers Conference on June 10-14.
US stock indices rose 1% yesterday on the return of buybacks and in anticipation of easing by the Fed.
Today reports
Premarket – DIS, DDOG, CROX, NKLA, BP, RACE, J, UBS
After market close – RIVN, UPST, WYNN, LYFT, OXY, SPCE, TRIP, CLOV
The American Society of Gene and Cell Therapy will begin its five-day meeting in Baltimore, Maryland. Analysts have flagged AZTR, CRSP, EDIT and REGN as companies to watch for drug data and new reviews that could impact stock prices.
Apple (AAPL) will host a special event where it is expected to announce new iPad products and hardware accessories.
Minneapolis Federal Reserve Bank President Neel Kashkari will moderate a conversation on the Economic Outlook ahead of the Milken Institute's 2024 Global Conference.