EUR/USD
1.14320
0.021%
Gold
4109.29
-0.347%
Oil
71.778
0.163%
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161.755
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GBP/USD
1.34194
0.084%
GBP/JPY
217.070
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Real-time News
On July 10th, Andrew Hitz, Global Head of Fixed Income Research at Morgan Stanley, stated that the bank is closely monitoring three major obstacles that could cause a summer setback for the stock market; historically, summer is typically the strongest season for stock market performance. The first major risk is a resurgence of the conflict with Iran. Hitz stated, "The US Strategic Petroleum Reserve has fallen to a historic low, and if the conflict escalates again, this could weaken its ability to withstand shocks." The second major risk is a Federal Reserve interest rate hike. Hitz pointed out that the expectation that the Fed will keep interest rates unchanged until the end of the year is one of the key pillars supporting the current stock market bull run. "The risk is that this assumption may be wrong, and that mistake could soon become apparent. Of course, there is the view that if the Fed is concerned about inflation, it should not delay its actions." The third is a weakening outlook for AI capital expenditures. Hitz said, "The risk is that second-quarter earnings reports may show a more cautious approach to spending, perhaps due to the recent poor performance of some companies that have heavily invested in AI. Given the current high correlation between growth and earnings prospects and AI, and investors strong preference for AI-related stocks, this situation poses a risk."July 10th - According to the Wall Street Journal, the European Union is escalating its investigation into Meta, alleging it failed to adequately protect users from the addictive designs of Instagram and Facebook, and the company could face hefty fines. The European Commission released preliminary findings on Friday, concluding that Meta violated the EUs landmark Digital Services Act, which requires the worlds largest online platforms to assess and mitigate risks. If the findings are confirmed, each of Metas platforms could face fines of up to 6% of its global revenue.On July 10th, the National Development and Reform Commission (NDRC) stated that, going forward, it will earnestly implement the decisions and deployments of the CPC Central Committee and the State Council, and work with all members of the inter-ministerial coordination mechanism for ensuring the supply of coal, electricity, oil, gas, and transportation. It will closely monitor and analyze the power supply and demand situation, ensure the responsibilities of all relevant parties are fulfilled, implement various power supply guarantee measures, and make every effort to guarantee the electricity needs of economic and social development, and to ensure reliable and green electricity supply for the people. First, it will enhance the capacity for stable generation and supply, ensure the production and supply of primary energy sources such as coal and natural gas, and coordinate and optimize the operation and scheduling of various power sources such as wind, solar, hydro, thermal, and storage to improve peak-load supply capacity. Second, it will improve the level of mutual assistance and complementarity, make full use of the national unified electricity market to efficiently carry out mutual assistance and guarantee of electricity, and promote the optimized allocation of power resources on a larger scale. Third, it will optimize the supply and demand coordination mechanism, refine the management of electricity demand, promote new demand-side business models to help with peak shaving and valley filling, and coordinate supply to ensure the safe and stable operation of the power grid.July 10th - The "Regulations" will take effect on October 1, 2026. The Regulations consist of 31 articles and mainly include the following: First, a prudent definition of the scope of inclusion on the list. Financial institutions and their employees who have been subject to administrative penalties or other measures by the State Financial Regulatory Commission (SFC) or its branches, and whose actions are particularly egregious or serious, will be included in the list of seriously dishonest entities. Second, clear management measures for seriously dishonest entities. Based on relevant laws and regulations and policy documents of the CPC Central Committee and the State Council, the Regulations stipulate the management measures that the SFC and its branches can take against entities included on the list. Third, strict standardization of the list management procedures. The Regulations specify the specific procedures for inclusion and removal from the list, and also stipulate procedures such as prior notification and statements of defense, fully guaranteeing the relevant entities right to know and right to defend themselves. Fourth, the establishment of a credit repair mechanism. The Regulations encourage seriously dishonest entities to correct their dishonest behavior and eliminate adverse effects, and clarify the conditions for early removal and the verification period.Market news: The by-election for the Clatton constituency in the UK is scheduled for August 13. The by-election was triggered by the resignation of Reform Party leader Nigel Farage from his MP position.
