Group 1 - The New York stock market experienced a significant decline on June 17, with all three major indices closing lower due to weaker-than-expected macro data and concerns over escalating conflicts related to Iran [1] - The Dow Jones Industrial Average fell by 299.29 points to close at 42,215.8, a decrease of 0.70%. The S&P 500 index dropped by 50.39 points to 5,982.72, down 0.84%. The Nasdaq Composite Index decreased by 180.12 points to 19,521.09, a decline of 0.91% [1] - Among the sectors in the S&P 500, ten out of eleven sectors declined, with the healthcare and consumer discretionary sectors leading the losses at 1.64% and 1.55% respectively, while the energy sector saw an increase of 1.03% [1] Group 2 - The U.S. Department of Commerce reported that retail and food service sales in May amounted to $715.4 billion, a month-over-month decrease of 0.9%, which was worse than the expected decline of 0.6% [1] - The May industrial production index fell by 0.2%, contrary to the market expectation of a 0.1% increase, with the April figure revised from zero to a 0.1% increase [2] - The National Association of Home Builders reported a housing market index of 32 for June, below the expected 36 and May's 34 [2] Group 3 - Analysts suggest that consumer anxiety is leading to a shift towards saving rather than spending, indicating an economic slowdown [2] - Investment strategists believe that the weakening data may provide the Federal Reserve with more room to adopt a dovish stance [2][3] - There is a focus on defensive stocks with pricing power and growth potential as alternatives to expensive technology company valuations [3]

Core Viewpoint - The CEO of the Royal Bank of Canada anticipates that the Bank of Canada will continue to adopt a more dovish stance to boost consumer confidence and economic growth [1] Group 1 - The Royal Bank of Canada is projecting a shift in the Bank of Canada's monetary policy towards a more accommodative approach [1] - The expectation is that this dovish stance will positively impact consumer sentiment and stimulate economic activity [1]

Core Viewpoint - The CEO of the Royal Bank of Canada anticipates that the Bank of Canada will maintain a more dovish stance to boost consumer confidence and economic growth [1] Group 1 - The expectation of a dovish monetary policy is aimed at enhancing consumer confidence [1] - The approach is also intended to stimulate economic growth in Canada [1]

Core Viewpoint - The current decline in gold prices is influenced by upcoming Federal Reserve interest rate decisions, with market participants expecting rates to remain unchanged at a high probability of 98.1% [3] Market Analysis - As of May 7, gold prices have dropped to $3383.57 per ounce, reflecting a decrease of 1.37% from earlier highs [1] - The highest price reached was $3437.49 per ounce, while the lowest was $3359.78 per ounce during the trading session [1] - The recent economic data, including a slowdown in core PCE inflation to 2.6% and strong employment figures, has alleviated some market concerns regarding inflationary pressures [3] Trading Strategy - The market anticipates a potential upward movement in gold prices if the Federal Reserve adopts a dovish stance, suggesting possible rate cuts [3] - Conversely, if the Fed maintains its current rate, it could strengthen the dollar and exert downward pressure on gold prices [3] - Current trading strategies suggest monitoring the price range between $3350 and $3404 for potential high-low trading opportunities, with a focus on support levels at $3350 and $3290 [6]