Before the US stock market opens: US and Iran are conducting indirect technical talks, oil and gold prices both fall, Dow drops 124 points (continuously updated).

Market news indicates that the U.S. and Iran are holding indirect technical talks in Doha, Qatar, with Qatar and Pakistan serving as mediators, and the two sides will not meet directly. International oil prices continue to fall, with New York crude oil down 0.9% to $68.88 per barrel, and Brent crude oil down 0.9% to $72.28 per barrel; gold prices remain weak, with New York gold futures down 0.9% to $4,002 per ounce, and spot gold down 0.5% to $3,989 per ounce, losing the $4,000 mark.

The three major U.S. stock indexes are slightly lower in pre-market trading, with Dow futures down 124 points to 52,546; S&P futures down 16 points to 7,532; Nasdaq futures down 145 points or 0.5% to 30,378.

The U.S. will release June ADP employment change, June S&P Global U.S. Manufacturing PMI final, and June ISM Manufacturing Index on Wednesday.

In terms of key stocks, chip stocks are weak in pre-market trading. Micron (MU) is down over 3% pre-market. CEO Sanjay Mehrotra said in an interview that the current imbalance between supply and demand for chip products is not solely due to memory chip manufacturers. He believes that some customers have aggressively driven down prices during negotiations in recent years, leading to insufficient industry capacity investment and failing to keep up with the demand brought by the AI industry explosion.

He admitted that in 2023, some customers significantly lowered industry prices to one-third of previous levels. The sharp price drop caused memory suppliers to fall into negative gross margins, leaving the entire industry without sufficient financial flexibility to invest in new capacity.

Real-time market trends:

[18:00] U.S.-Iran indirect technical talks ongoing, oil and gold prices both fall, Dow down 124 points

[17:00] [AI+Anthropic] U.S. Department of Commerce lifts export controls, Anthropic to resume access to models Claude Fable 5, Mythos 5 from tomorrow

[16:40] [AAPL] U.S. Supreme Court accepts Apple's appeal, reviews Epic Games antitrust case 'contempt of court' ruling

[16:30] [Trump] Made over $9.3 billion in crypto last year, personal net worth soars to $59.2 billion

[16:20] [TSLA] Tesla tests first Cybercab, U.S. recommends exempting brake pedal installation

[16:00] [Layoff wave] Microsoft reportedly to launch another large-scale layoff, involving thousands of positions, Xbox department hit hardest

Check out U.S. stock market closing:

AI stocks performed well, SanDisk (SNDK) up 10.9%, AMD (AMD) up 7.7%, Marvell Technology (MRVL) up 7.3%, TSMC (TSM) up 4.9%, Nebius (NBIS) up 5.8%, CoreWeave (CRWV) up 4.2%, but Micron (MU) only up 0.8%.

Musk's duo rose, Tesla (TSLA) up 2.1%, SpaceX (SPCX) up 4.1%, closing at $170.86.

U.S. bond prices fell, with the 10-year Treasury yield rising to 4.465% due to still-good U.S. data, especially JOLTS job openings reaching 7.59M, exceeding the expected 7.3M. At the same time, inflation expectations increase pressure for rate hikes.

The U.S. and Iran are in dialogue through intermediaries in Doha. The market is watching for progress, oil prices are weak, with New York crude oil down 1% to $70.07, Brent crude oil down 0.3% to $72.92. Spot gold prices are little changed at $4,008.38.

A Qatari Foreign Ministry spokesperson said that U.S. Middle East envoy Witkoff and President Trump's son-in-law Kushner will arrive in Qatar to meet with mediators to discuss negotiations, but there are currently no plans for high-level talks between the U.S. and Iran.

In total for the first half of the year, the Dow rose 8.9%, the S&P rose 9.6%, and the Nasdaq rose 12.8%, continuing the upward trend of the past three consecutive years.

Bitcoin is under pressure, falling below $60k, currently at $58,482, down 3% intraday. Coinbase (COIN) down 3.6%, Strategy (MSTR) down 6.2%, Circle down 17.7%.

Metropolitan Investment Management said that artificial intelligence (AI) remains the core engine driving market growth. As agentic AI gradually moves from the infrastructure stage to actual commercial applications, corporate capital expenditures continue to be supported. At the same time, the market is also focusing more on distinguishing companies that truly benefit from the long-term AI development trend from those that mainly rely on market sentiment.

Hong Kong stocks, ADR market updates, details please see: Next page

Real-time market trends:

[14:59] Dow futures up 15 points to 52,587, S&P futures up 6 points to 7,506, Nasdaq futures up 71 points or 0.2% to 30,124.

[14:59] Oil prices down 1%, New York crude down 1.1% to $70, Brent down 1.4% to $72.14. Gold prices stable, New York gold futures up 0.1% to $4,043, spot gold up 0.3% to $4,028.

[14:07] [Fed personnel] Overruling 91-year precedent, U.S. Supreme Court expands president's power to remove senior officials, Fed independence gets limited protection, Cook remains for now

[12:39] [U.S. stock analysis] Dow closes above 52,000 for the first time. Analysis: Not suitable to sell tech stocks for traditional stocks at current levels, AI-related stocks expected to remain popular

[12:33] [Oil price trends] Morgan Stanley cuts oil price forecast again, second time in two weeks, Q4 Brent seen at $80

[11:07] [AAPL] Apple's India plant Tata hacked, iPhone 18 real photos, chips, supplier list and other data leaked to dark web

[09:43] [Yen trends] Yen loses 162 mark, falls below 4.82 per Hong Kong dollar, hits new 40-year low, analysis: even intervention would have short-lived effect

[01:32] [META] WhatsApp launches username feature, 3 billion users can avoid sharing phone numbers

[00:57] [GOOGL] Google Cloud launches scientific AI model, targeting drug and chip material R&D

[00:19] [AAPL] Apple fights back against India antitrust investigation, criticizes regulatory report as too rough

====Below is the U.S. stock market situation on June 29====

Monday: Nasdaq up over 2%, Dow up 306 points, Yen at 40-year low, Trump: will ensure Fed Governor Cook does not make key decisions

Middle East tensions ease, investors buy U.S. tech stocks, boosting U.S. stocks on Monday. Nasdaq up over 2%, Dow once up 435 points. Market focuses on Fed Chair Warsh's speech at the European Central Bank annual meeting this week for clues on future interest rate direction. Yen hits 40-year low against U.S. dollar.

Check out U.S. stock market closing:

Dow closed at 52,182, up 306 points, S&P up 1.18%, Nasdaq up 2.07%.

The U.S. Supreme Court ruled that President Trump currently has no authority to fire Fed Governor Lisa Cook, stating that monetary policy should not be subject to political interference. Trump responded on social media that he will take corresponding action on the Cook lawsuit to ensure she does not make crucial decisions on Fed monetary policy issues.

Cook said in a statement that the court's ruling reaffirms a long-standing principle supporting sound economic management: the Fed must make all policy decisions based solely on evidence and independent judgment without political interference.

SpaceX will be included in the Nasdaq 100 index next month, stock up 7.1%; AI software stocks performed well, Alphabet was officially added to the Dow Jones index, stock up 4.8%. Tesla up 8.5%;

A group of U.S. companies filed an antitrust class action lawsuit against Samsung, SK Hynix, and Micron, alleging details including a 700% price increase over four years, reducing traditional DRAM output under the guise of HBM. The lawsuit was filed on June 25, last Thursday, coinciding with the sharp decline in memory stocks. Micron fell another 9.6% at one point, closing up 1.1%. SanDisk (SNDK) fell 9.4% at one point, closing with a narrowed loss of 1.9%.

The plaintiffs accuse Samsung, SK Hynix, and Micron of using their absolute dominant position of over 90% in the global DRAM market, ostensibly claiming to shift production to higher-margin high-bandwidth memory (HBM) in response to the AI boom, but actually artificially creating a shortage. They allegedly used HBM as a 'smokescreen' to coordinately cut production of traditional DDR3 and DDR4 chips, deliberately creating a severe shortage in the retail market, causing ordinary DRAM prices to surge about 700% over the past four years. The plaintiffs' economic reasoning argues that in a healthy competitive market, price spikes should attract manufacturers to 'expand production' to gain market share, but the three giants did the opposite by 'jointly reducing supply,' indicating an obvious collusive monopoly.

On the other hand, the Supreme Court paved the way for President Trump to freely fire officials at the Federal Trade Commission (FTC) and most (though not all) other agencies long independent of politics. This is a historic dismantling of politically protected agencies. The ruling greatly expands presidential power and influence. It overturned the nearly century-old precedent 'Humphrey's Executor,' which stipulated that commissioners of independent agencies could not be fired without specific cause.

Trump celebrated the ruling on Truth Social, calling it a 'major victory' confirming his power to remove officials: 'I am extremely honored as the current president to have won this historic and unprecedented ruling, one of the most important rulings ever regarding presidential power.'

However, the 6-3 ruling exempted the Federal Reserve, consistent with signals previously released by the Supreme Court that it views the central bank differently. Chief Justice John Roberts said the central bank has a 'unique historical tradition.'

Trump refrained from attacking Iran and resumed peace talks in Doha on Tuesday. New York crude oil up 2.2% to $70.75, Brent up 1.61% to $73.15.

Richmond Fed President Barkin warned that inflation is still too high, but there are signs price pressures may ease soon. White House National Economic Council Director Hassett said Thursday's employment report may show 'another strong number'; he said the productivity boom brought by AI has a deflationary effect, so the current case for rate hikes is not that strong.

The U.S. dollar index softened, down 0.2% to 101.13, but the 10-year Treasury yield rose to 4.381%.

The yen fell 0.14% to 161.98 per U.S. dollar, breaking the low of July 2024, hitting a new low since 1986; investors watch for possible Japanese intervention to support the yen.

Hong Kong stocks, ADR market updates, details please see: Next page

Real-time market trends:

[21:30] Dow opened up 164 points at 52,040. Nasdaq up 1.1% at 25,578. S&P opened up 52 points at 7,406.

[19:17] Dow futures up 168 points, Nasdaq futures up 1%, S&P futures up 45 points.

[15:18] Dow futures up 95 points at 52,304, S&P futures up 37 points at 7,439, Nasdaq futures up 219 points or 0.7% at 29,587.

[15:18] New York crude up 1% to $69.92, Brent up 0.5% to $72.32. New York gold futures down 0.5% to $4,074, spot gold down 0.7% to $4,058.

[15:01] [AI+Computing power] Computing power can't keep up with demand, Google reportedly cuts Meta's capabilities, restricts Gemini usage limits

[12:44] [Memory] Samsung, SK Hynix reportedly plan to invest 10 trillion won in AI semiconductors, partner with Korean government to announce 'three major projects' at 2 PM on Monday, Morningstar analyzes expansion concerns

[11:40] [Breaking tradition] U.S. launches limited 'Patriot Passport' for 250th anniversary, Trump becomes first sitting president on passport

[10:46] [AI+Anthropic] Austria suggests EU recruit Anthropic to relocate, aims to bypass U.S. export restrictions

[10:42] [AAPL] Apple reportedly seeks approval to purchase chips from CXMT, avoid being placed on entity list. Kuo: truth is memory supply-demand gap crisis in 2027. Citi: enhances CXMT's global status

[06:46] [Iran crisis] Oil prices rise. Axios: U.S. and Iran stop attacking each other, Tuesday talks on Strait of Hormuz

[06:00] ChatGPT developer OpenAI reportedly delays IPO to next year, putting pressure on AI hardware stocks. U.S. stocks fluctuated lower on Friday, Dow fell up to 305 points, Nasdaq fell for 5 consecutive days. Dow closed at 51,876, down 44 points, S&P down 0.05%; Nasdaq down 0.24%.

Check out U.S. stock market closing:

U.S. stock market dynamics last week, details please see: [U.S. stock market closing] OpenAI reportedly delays IPO to next year, Nasdaq falls another 0.2%, Kashkari expects one rate hike this year, Dow down 44 points