So far, very limited comments from the U.S.-China talks suggest positive progress, as indicated by both sides. The market remains optimistic about the outcome of the bilateral negotiations, viewing them as an almost “sure thing” signaling a “de-escalation” of the trade war. White House spokesperson Johnson mentioned that reconciliation between Trump and Musk might occur; Tesla shares are attempting to recover losses, rising 2.5% today.
- Sentiment on the U.S. stock market remains very solid; the US500 and US100 indices are gaining between 0.1% and 0.2%, both hovering near all-time highs.
- NFIB data suggests improving sentiment among small U.S. business owners (May reading 98.8 vs. 96 and 95.5 previously).
- Sales at large U.S. department stores rose 4.7% year-over-year in May, according to Redbook data; April’s reading was 4.9% year-over-year.
- U.S.-China talks continue; negotiators resumed discussions about 1 PM GMT after a short break. There are still no concrete details or significant “leaks” to the media.
- An economist survey implies GDP growth of 1.4% in 2025 and 1.5% in 2026; over 60% expect at least two rate cuts this year; 59 out of 105 economists indicate the Fed will begin cuts in September.
- The World Bank lowered its U.S. GDP growth forecast for 2025 by 0.9 percentage points to 1.4% year-over-year and by 0.4 percentage points for 2026.
US500 (Daily Chart)
The S&P 500 futures contract (US500) is up 0.2% after the session opened, but bulls still face fairly strong selling pressure that is currently holding back a breakout. If the index manages to rise above 6050 points, the path to testing historical highs appears open.
Source: xStation5
US100 (4-Hour Chart)
US100 remains in an uptrend, trading above both the 25-period and 50-period exponential moving averages (EMA). However, the index struggles to break through the key resistance level at 21,870 points.
Source: xStation
Apple Cuts iPhone Sales Forecast
At its developer conference, Apple mainly showcased visual updates (“Liquid Glass”), a new gaming hub, and a fitness tool rather than breakthrough AI innovations. iPhone sales forecasts were lowered by 2–3%.
- The company emphasized better software compatibility with its advanced in-house chips and easier integration across devices (iPhone, iPad, Mac).
- Apple faces regulatory risks: a U.S. court may block a $20 billion-per-year deal with Google, and the company can no longer collect commissions on certain in-app payments.
- Geopolitical tensions are escalating — Trump’s trade policies are forcing Apple to move production from China to the U.S.; shares have fallen 20% since the start of the year, representing roughly $750 billion in lost market value.
Company News
- Brown & Brown.US (BRO.US): Shares loses 1% after announcing the acquisition of Accession Risk Management Group for a staggering $9.825 billion.
- Gryphon Digital Mining Inc.US (GRYP.US): Stock drops 2.5% following the release of financial reports for American Bitcoin Corp., linked to Trump.
- Insmed.US (INSM.US): Shares surge 25% after positive test results for an inhalation powder drug treating lung disease.
- McDonald’s.US (MCD.US): Redburn downgraded the fast-food giant from “buy” to “sell.” Shares fall slightly as analysts warn that weight-loss drugs are curbing customer appetites, posing a long-term threat to McDonald’s business.
- Tencent Music ADRs.US (TME.US): Shares jumps more than 2% following news of acquiring podcast startup Ximalaya.
- Tesla.US (TSLA.US): Shares rose 2.2% in premarket, continuing a rebound after a selloff triggered by the Musk-Trump feud. As for now, the stock is up almost 2.5%.
Apple (D1 interval)
Apple shares are still below EMA200 resistance zone, pressured by recent news.
Source: xStation5
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