Overnight US stocks | Samsung Electronics is about to release its preliminary Q2 financial report. The Dow Jones Industrial Average (DJIA) broke through 53,000 points for the first time, setting a new record high. Bitcoin surpassed $64,000.

On Monday, the three major indices rose with the Dow Jones Industrial Average breaking through 53,000 points for the first time in history, reaching a new high. Chip stocks rebounded significantly. Samsung Electronics is expected to release its preliminary second-quarter financial report. Currently, it is widely expected on Wall Street that the company's preliminary profit for the second quarter will reach a historic high. According to the analyst consensus forecast compiled by the London Stock Exchange Group (LSEG), Samsung Electronics' second-quarter revenue is expected to be around 170 trillion Korean won (approximately $111.2 billion), and operating profit is expected to be around 86 trillion Korean won (approximately $56.2 billion), representing an increase of about 18 times compared to the same period last year, marking the third consecutive quarter of record operating profit for Samsung. US StocksAt the close, the Dow Jones rose 155.84 points, or 0.29%, to 53,055.91 points; the Nasdaq rose 288.49 points, or 1.12%, to 26,121.16 points; the S&P 500 index rose 54.19 points, or 0.72%, to 7,537.43 points. Western Digital Corporation (WDC.US) rose 7%, Broadcom Inc. (AVGO.US) rose 3.7%, ASML Holding NV ADR (ASML.US) rose 3%, Micron Technology, Inc. (MU.US) and Intel Corporation (INTC.US) rose about 1%. The Nasdaq Golden Dragon Index rose by 1.7%, while NIO Inc. Sponsored ADR Class A (NIO.US) rose by 4.7%. European StocksThe Germany DAX30 index rose by 20.66 points, or 0.08%, to 25,818.14 points; the UK FTSE 100 index fell by 30.32 points, or 0.28%, to 10,648.71 points; the France CAC40 index fell by 28.20 points, or 0.33%, to 8,479.87 points; the European Stoxx 50 index fell by 16.68 points, or 0.26%, to 6,396.00 points; the Spain IBEX35 index fell by 179.43 points, or 0.90%, to 19,674.87 points; the Italy FTSE MIB index rose by 136.65 points, or 0.26%, to 52,955.50 points. Asian StocksThe Nikkei 225 index edged lower, while the South Korea Composite Stock Price Index fell by 0.46%. US Dollar IndexThe US dollar index, which measures the USD against six major currencies, rose by 0.01% to close at 100.853 in the forex market. At the close of the New York forex market, 1 Euro equaled 1.1443 USD, higher than the previous trading day's 1.1439 USD; 1 Pound equaled 1.3395 USD, higher than the previous trading day's 1.3356 USD. 1 USD equaled 162.06 Japanese Yen, higher than the previous trading day's 161.36 Japanese Yen; 1 USD equaled 0.8050 Swiss Francs, higher than the previous trading day's 0.8035 Swiss Francs; 1 USD equaled 1.4209 Canadian Dollars, higher than the previous trading day's 1.4198 Canadian Dollars; 1 USD equaled 9.6255 Swedish Krona, lower than the previous trading day's 9.6436 Swedish Krona. CryptocurrencyBitcoin broke through $64,000, rising over 1% to $64,416 as of writing; Ethereum rose over 1.3% to $1,814.35. In terms of news, Strategy (MSTR.US) sold 3,588 bitcoins (about $216 million) to pay preferred stock dividends. This move breaks the "buy-only" commitment, changing Bitcoin from a strategic reserve to a liquidity management tool. The company's annual dividend payment has reached $1.5 billion, putting pressure on its cash flow. Crude OilThe price of light crude oil futures for August delivery on the New York Mercantile Exchange fell by 14 cents to close at $68.55 per barrel, a decrease of 0.2%; the price of Brent crude oil futures for September delivery fell by 13 cents to close at $71.99 per barrel, a decrease of 0.18%. Precious MetalsSpot gold rose slightly to $1,164.33 per ounce; spot silver was at $62.115 per ounce. Macro News Powell says inflation risks have overtaken employment risks, markets focus on July CPI. Federal Reserve Board Governor Powell stated that the US labor market has become stable and that inflation is accelerating again, with inflation risks now exceeding employment risks. This is a complete reversal of the policy considerations from a year ago. He pointed out that last year, rate cuts were supported due to a weak labor market, but now the policy focus should shift to contain inflation. The market is now focusing on the June CPI data, to be released on July 14, which is the last key inflation data before the Fed meeting on July 28-29. Despite international oil prices falling to around $70 per barrel, Fed officials still expect inflation to be significantly higher than the 2% target by the end of the year. The market expects the Fed to raise rates no later than September, with a probability of July rate hike around 25%, and multiple officials have already signaled further tightening measures. Traders are at their most optimistic level on the US dollar holdings since 2015. Data from the CFTC shows that as of June 30, global traders' bullish bets on the US dollar have increased to nearly $40 billion, the highest level since 2015, as the dollar's monthly rally driven by interest rate expectations continues. The market is betting that the Fed may maintain higher rates or even raise them again, driving the dollar to record about a 2% gain in June. Analysts believe that expectations of Fed monetary tightening combined with the resilience of the US economy are supporting the dollar, but some institutions point out that recent weak employment data may limit further upside. CFTC: Hedge funds' bearish sentiment on the yen reaches the highest level since 2007. According to CFTC data, as of the week ending June 30, hedge funds in the futures and options markets have increased their net short positions on the yen to nearly 138,000 contracts, the most pessimistic level since 2007. The yen has fallen to its lowest level since 1986, breaking the key level of 1 USD to 162 yen, sparking market expectations of possible intervention by Japanese officials in the foreign exchange market. Japan's Finance Minister reiterated that the government could take forex intervention measures at any time, and Japan had already used a record amount of funds to support the yen from late April to May. The market believes that the widening US-Japan interest rate differential remains a major factor pressuring the yen, even though the Bank of Japan has recently raised rates but failed to reverse its weakness. The US ISM Services PMI recorded 54, expanding for the 24th consecutive month. The US ISM Services PMI report shows that economic activity in the service sector continued to expand in June. The services PMI recorded 54, remaining in the expansion range for the 24th consecutive month. ISM Services Business Survey Committee Chairman Miller stated: The services PMI recorded 54 in June, down 0.5 from May's 54.5. The business activity index is still in the expansion range, declining 2.3 from 57.7 in May to 55.4. The price index in June dropped to 67.7, down 3.6 from 71.3 in May, falling below 70 for the first time since February. The index has been above 60 for 19 consecutive months, with a 12-month average of 68. Diesel, gasoline, petroleum, and related commodities were once again mentioned as the commodities with the most price increases in June, but other respondents also reported price decreases. This may be due to different contract terms between companies for these commodities. Some respondents noted that the prices for gasoline and diesel were falling, but this was not a universal phenomenon. We expect this situation to continue for several months as oil price increases transmit to the supply chain, but assuming that there are continued advances in oil transportation in the Strait of Hormuz, there should be some relief in the fall. Stock News NVIDIA Corporation denies Kyber delay rumors: Product roadmap is unaffected. A spokesperson for NVIDIA Corporation (NVDA.US) responded that the company's product roadmap is unaffected. Previously, the research firm SemiAnalysis stated that NVIDIA Corporation's next-generation AI computing architecture, Kyber, may be delayed by 12 months to 2028 due to development setbacks, with the architecture originally planned for the next-generation RubinUltraGPU. Nomura Securities analyst Jordan Klein stated that there have been similar rumors of new product delays from NVIDIA Corporation multiple times in the market, and such news is more like "attention-grabbing noise". The impact of the rumors is limited, and NVIDIA Corporation's stock price rose by about 1.2% on Monday. Kyber is seen as a significant upgrade for NVIDIA Corporation's data center architecture, featuring a new vertical rack design to enhance computing density and reduce network latency, while also expected to drive demand for the data center co-packaged optics (CPO) industry chain. Trump pushes the "Trump Account", tells the audience to buy Dell Technologies, Inc. Class C computers. In the Oval Office of the White House, Trump pushed the "Trump Account", stating that children can use the funds in this account to accumulate wealth. He also praised billionaire Michael Dell Technologies, Inc. Class C and his wife Susan Dell Technologies, Inc. Class C, who have pledged to contribute over $6 billion to these accounts. "Go buy a Dell Technologies, Inc. Class C (DELL.US) computer," Trump told those present. He joked, "We will find a way to earn back that money for him." Trump also mentioned that naming this account after himself was not his idea. He then asked Michael Dell Technologies, Inc. Class C if he ever told him that he wouldn't donate the money unless the account was named after the president. Trump then continued, "No, but I've done that on other things." This elicited laughter from the audience. Microsoft Corporation (MSFT.US) plans to lay off about 4,800 people, involving the sales and Xbox gaming business units. According to reports, Microsoft Corporation announced on Monday that it plans to lay off about 4,800 people, accounting for 2.1% of the total global workforce. In an email to employees, Microsoft Corporation's head of human resources, Amy Coleman, stated that this round of layoffs will mainly affect the sales and Xbox gaming business units. Microsoft Corporation typically conducts layoffs around the start of the new fiscal year on July 1. Last year, the company cut 6,000 jobs in May and another 9,000 in July, accounting for about 4% of the total company workforce. Before this round of layoffs, Microsoft Corporation had over 220,000 employees. Microsoft Corporation is cutting costs while investing heavily in AI infrastructure and facing growing concerns from investors that AI may disrupt traditional software businesses. As part of the cost-cutting measures, Microsoft Corporation also introduced a voluntary retirement plan earlier this year, offering buyout packages to employees in the US with a service time of 67 years or less and a service duration of 70 years or more. It is reported that about one-third of the nearly 9,000 eligible employees accepted the buyout, in line with expectations. This has resulted in a lower layoff rate for Microsoft Corporation this year compared to last year. Lockheed Martin Corporation (LMT.US) invests $3.45 billion to expand anti-submarine warfare business. With the increasing demand for sea-based weapon systems, Lockheed Martin Corporation has agreed to acquire and purchase a naval defense enterprise from private equity firm Advent for $3.45 billion. According to a statement released on Monday, the enterprise, called Ultra Maritime, is being sold by Advent's Cobham Ultra subsidiary. According to Ultra Maritime's official website, the company focuses on anti-submarine warfare in the air, on the surface, and underwater, covering activities such as sonar buoy detection, sonar systems, and torpedo countermeasures, providing products and services to the navies of the US, Canada, the UK, and Australia. Big Bank Ratings Goldman Sachs Group, Inc.: Raises the target price for Western Digital Corporation (WDC.US) from $400 to $650, raises the target price for SanDisk (SNDK.US) from $1,200 to $2,200, raises the target price for Qualcomm (QCOM.US) from $145 to $180, raises the target price for AMD (AMD.US) from $450 to $640.