Zhitong Finance and Economics learned that on Friday, the three major indexes were mixed, and the Dow closed above the 40,000-point mark for the first time. All three major U.S. stock indexes posted gains this week. The Nasdaq rose 2.11% and the S&P 500 rose 1.54%, both rising for the fourth consecutive week. The Dow rose 1.24% for the week, marking its fifth consecutive week of gains.
As of the close, the Dow rose 134.21 points, or 0.34%, to 40,003.59 points; The Nasdaq fell 12.35 points, or 0.07%, to 16,685.97; The S&P 500 rose 6.17 points, or 0.12%, to 5,303.27. Game Station (GME. US) fell nearly 20%, and Faraday Future (FFIE. US) fell more than 37%, and Alibaba (BABA. US) extended yesterday's rally, closing up 2%.
Major European stock indexes fell, with Germany's DAX 30 down 0.18%, France's CAC 40 down 0.26%, Euro Stoxx 50 down 0.16%, and Britain's FTSE 100 down 0.22%.
The Nikkei 225 Index fell 0.34%, Singapore's Straits Times Index rose 0.26%, Vietnam's VN30 Index rose 0.14%, and Indonesia's Jakarta Composite Index rose 1.32%.
Bitcoin, up more than 2.4% at $66,821.6, and Ethereum rose more than 5% to $3,094.71.
COMEX June gold futures closed up $31.90, or 1.3%, at $2,417.40 an ounce on Friday, the highest close on record.
WTI crude oil futures for June closed up $0.83, or 1.05%, at $80.06 per barrel; Brent crude futures for July delivery closed up $0.71, or 0.85%, at $83.98 a barrel.
【Metal】London metal rose, London aluminum rose more than 1.5%, London nickel rose more than 6.7%, London zinc, London copper rose more than 2.8%.
【Macro News】
The Federal Reserve has rejected a request from banking lobbying groups to revise its bank rating system. The Federal Reserve reportedly rejected a request from the banking lobby to "revise the CAMELS Rating System." The "camel" rating system is a set of standardized, institutionalized, and indexed comprehensive rating systems for the business operations and credit status of commercial banks and other financial institutions conducted by the US financial management authorities. Because of its five assessment indicators, namely Capital Adequacy, Asset Quality, Management, Earnings and Liquidity, the first letter of its English is combined as "CAMEL", which happens to be the same as the English name of "camel". The "Camel" rating methodology, due to its effectiveness, has been adopted by most countries in the world. At present, the main contents of the international evaluation of commercial banks' ratings, including capital adequacy ratio and changing trend, asset quality, deposit structure and repayment guarantee, profitability, and human resources, have basically not jumped out of the framework of the United States and the "camel" rating.
Suspected internal turmoil in the company OpenAI's artificial intelligence risk team was disbanded. According to the American magazine WIRED, the OpenAI team, which focuses on studying the existential dangers of artificial intelligence, has all resigned or been absorbed by other groups. OpenAI announced a new research team last July in preparation for the emergence of a super AI capable of outwitting its creators, with Ilya Sutskever, one of the company's founders, appointed as co-leader of the team. The dissolution of the team is yet another evidence of the recent turmoil within the company. Two of the team's researchers were fired for leaking company secrets, and another member left in February, The Information reported last month. OpenAI's charter states that artificial general intelligence, i.e., technology that can match or surpass humans, must be safely developed. The company recently released a new model for GPT-4o, and there is no indication that the recent departure is related to the company's AI efforts, but the latest developments do raise questions about privacy, emotional manipulation, and cybersecurity risks.
Bank of New York Mellon: Asian central banks may sell US bonds in the second half of the year to defend their currencies. Geoffrey Yu of BNY Mellon said Asian central banks are likely to sell off US Treasuries in the second half of the year to fund local currencies against a stronger dollar. The prospect of U.S. interest rates staying high for longer has boosted the dollar and left Asian policymakers worried that expensive imports would spur inflation. Citing data on global fund flows from U.S. custodian banks, the veteran strategist said that any move to liquidate U.S. government bonds into dollars and then sell them in the currency market could exacerbate the already "weak" demand for U.S. bonds. He said this could force the Fed to slow down its reduction of its holdings of U.S. Treasuries through quantitative tightening. His views are in line with those of Bank of America strategists. The latter believes that Japan's next intervention in the currency market is likely to use its holdings of US Treasury bonds. But the expectation that a Biden or Trump presidency would expand the country's ballooning balance sheet to win over voters could also weaken demand later this year, Yu said. "For stability, a certain level of fiscal constraint is needed," Yu said, "and do we really hear that from the debate on both sides now?" It may not be enough. ”
【Stock News】
Apple (AAPL. US) plans to launch a thinner iPhone the year after that, with a starting price that may be higher than that of the Pro Max. According to reports, Apple is working on a thinner iPhone, which could be released as early as 2025, according to three people familiar with the matter. According to the three people directly familiar with the matter and two others familiar with the project, the thinner iPhone could be released at the same time as the iPhone 17, which is expected to be released in September 2025. They say the iPhone could cost more than the iPhone Pro Max, Apple's most expensive model at the moment, starting at $1,200.
AI startup CoreWeave raises $7.5 billion for AI computing. Powered by Nvidia (NVDA. US), an AI-backed cloud computing startup CoreWeave raised $7.5 billion from investors including Blackstone, The Carlyle Group and BlackRock, making it one of the largest private debt financings ever. Two weeks ago, the fast-growing company had just closed a $1.1 billion equity funding round at a valuation of $19 billion. At the end of last year, the company had 14 data centers and plans to double their number to 28 by the end of the year.
The frenzied recovery of meme stocks is not a good thing and indicates that US stocks are in a bubble. The latest survey shows that this week's "meme stocks" boom suggests that there is a bubble in the U.S. stock market and that it may have peaked. Game Station (GME. US) and AMC Cinemas (AMC. US) were two of the darlings of the 2021 meme stock boom, with shares of both companies surging this week before selling off on Wednesday and Thursday, losing more than half of their gains. Many of the 230 respondents surveyed were skeptical that this was an encouraging sign for the stock market as a whole, with more than 40% of respondents citing the GameStop and AMC trades as a sign of overexcitement and a potential reason to sell. Steve Sosnick, chief strategist at Interactive Brokers, said on the phone, "Unless the stock market is already a little excited, we're not going to see meme stocks like this continue to soar." ”
【Big Bank Rating】
Goldman Sachs: Walmart (WMT. US) raised its price target to $73.00 from $64.33
Mizuho Bank: Micron Technology (MU. US) raised its price target to $150 from $130
Wedbush: GME. US) raised its price target to $7 from $5.6
![Touching the fish game, rolled into a productivity tool[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)