Market Overview - After experiencing policy fluctuations, market risk appetite has rebounded, with US stocks showing a strong recovery over the past month, bringing the S&P 500 index close to historical highs [1] - As of June 11, the S&P 500 index closed at 6022.24 points, reflecting an 18% rebound from early April, while the Nasdaq Composite index saw a 26% increase during the same period [1] Analyst Predictions - Several Wall Street investment banks have expressed optimistic expectations for the US stock market, with Goldman Sachs projecting a 10% increase in the S&P 500 index by the end of 2025, raising its target to 6500 points [4] - Citigroup has also raised its target for the S&P 500 index to 6300 points, anticipating a further 5% increase [4] - Analysts indicate that after the recent rise, valuations have reached historical highs, leading some investors to exit the market, suggesting limited upward potential for US stocks moving forward [4] Economic Factors - The Chief Investment Officer of Wells Fargo, Darrell Cronk, believes that the US stock market will experience more dramatic volatility this year compared to the previous two years, with significant fluctuations expected in the second half of 2025 [5] - Despite the lower-than-expected Consumer Price Index (CPI) data for May, core inflation is showing signs of recovery, and there are risks of inflation rising due to potential tariff costs being passed on to consumers [5] - The impact of the Trump tax cuts may also play a significant role in the US stock market, presenting both opportunities and risks for economic growth and valuations [5] Valuation Insights - The current price-to-earnings (P/E) ratio for the S&P 500 has risen to 27.82, indicating that US stocks are still relatively high in terms of valuation [6] - The expectation for S&P 500 earnings per share (EPS) growth is 7% for the second half of 2025 and 14% for 2026, although some analysts believe these projections may be overly optimistic given the potential impact of tariff policies [5][6] Asset Allocation Trends - There is a noticeable shift in global investment strategies from "dollar asset allocation" to "non-dollar asset reallocation," emphasizing the importance of diversified asset allocation [8] - The trend of "de-dollarization" is prompting countries to adjust their balance sheets, which may increase demand for Chinese assets, particularly in sectors like consumption, smart devices, robotics, and automation [8] Hong Kong Market Outlook - The Hong Kong market is expected to experience significant development opportunities, with relative valuations likely to rise and expansion opportunities on the horizon [9] - The Hang Seng Index's dynamic P/E ratio is currently at 10.37, while the Hang Seng Tech Index stands at 19.96, indicating that both indices have room for valuation recovery compared to major overseas indices [9]

Core Viewpoint - U.S. stock futures have seen an increase in decline, with S&P 500 index futures down by 0.5% [1] Group 1 - The decline in S&P 500 index futures indicates a bearish sentiment in the market [1]

Market Overview - US stock market opened high but closed lower, with all three major indices declining; Nasdaq down 0.5%, S&P 500 down 0.27% [1] Technology Sector - Major tech stocks mostly fell, with Intel dropping over 6%, marking its largest single-day decline in two months; Amazon down over 2%, Apple and Meta down over 1%, while Nvidia and Google saw slight declines [3] - Oklo surged nearly 30%, reaching a record closing high after securing a nuclear power agreement with the US Air Force [3] - Voyager Technologies Inc. (VOYG) saw an 82% increase on its first day of trading in the US IPO market [3] Chinese Stocks - Mixed performance among popular Chinese stocks, with the Nasdaq Golden Dragon China Index up 0.08%; Bilibili up over 8%, Futu Holdings and Dingdong Maicai up over 6%, while Alibaba fell over 1% [5] Commodity Prices - International gold prices continued to rise, reaching $3,370 per ounce, with a daily increase of over 0.5% [10] - COMEX gold futures rose 0.9%, settling at $3,373.5 per ounce; COMEX silver futures fell 0.76%, settling at $36.365 per ounce [12] - International crude oil futures surged over 4%, with WTI July crude oil closing up $3.17, a 4.88% increase, at $68.15 per barrel; Brent August crude oil rose $2.9, a 4.33% increase, at $69.77 per barrel [12]

Core Viewpoint - The U.S. stock market indices have retraced some of their gains, with the S&P 500 and Nasdaq Composite turning negative during the day, while the Dow Jones Industrial Average is up by 0.2% [1] Group 1 - The S&P 500 index has shown a reversal in its upward trend, indicating potential volatility in the market [1] - The Nasdaq Composite index has also experienced a decline, reflecting broader market concerns [1] - The Dow Jones Industrial Average has managed to maintain a slight increase, suggesting some resilience among certain sectors [1]

美股三大股指悉数转跌，道指现跌0.06%，标普500指数、纳指跌0.10%。 ...

Core Viewpoint - The three major U.S. stock indices have turned negative, with the Nasdaq down by 0.1%, the Dow Jones down by 0.01%, and the S&P 500 down by 0.08% [1] Group 1 - The Nasdaq index experienced a decline of 0.1% [1] - The Dow Jones index saw a slight decrease of 0.01% [1] - The S&P 500 index fell by 0.08% [1]

金十数据6月11日讯，荷兰合作银行分析师在一份报告中表示，美国股市的表现相对于经济基本面而言 太好了，有可能出现"强劲"回调。美国股市最近的上涨主要是由散户投资者的买入推动的。这些投资者 可能认为，基于对以往趋势的分析，在股价下跌时买入将是成功的。然而，机构投资者却"越来越悲 观"。标普500指数最近有所上涨，接近2月份的历史高点。但荷兰合作银行表示，长期美国国债收益率 的上升"与美国股市的复苏非常不一致"。"相对于基本面背景而言，美国股市目前的涨幅过高，当人们 意识到这一点时，美国股市将出现更强劲的回调。" 荷兰合作银行：散户与机构观点分化，美股面临大幅回调风险 ...

Group 1 - The core point of the article is that the U.S. Consumer Price Index (CPI) data for May came in below expectations, leading to a rise in U.S. stock index futures as concerns over potential price pressures from increased tariffs were alleviated [1] Group 2 - The lower-than-expected CPI report has calmed fears regarding the impact of potential tariff increases by Trump on consumer prices [1] - The market reaction indicates a positive sentiment among investors following the CPI data release [1] - The overall economic outlook appears more stable with the easing of inflation concerns, which could influence future investment strategies [1]

美元指数短线下跌约20点，现报98.76。美股期货短线拉升，三大股指期货均转涨，纳斯达克100指数期 货涨0.4%。美国10年期国债收益率短线下跌，现报4.501%。现货黄金短线拉升，现报3348.32美元/盎 司。 ...

Group 1 - U.S. stock index futures have shown an increase, with Nasdaq 100 futures rising by 0.53% [1] - S&P 500 futures have increased by 0.38% [1] - Dow Jones futures have gained 0.26% [1]