Group 1 - The U.S. government has implemented a 50% tariff on imported steel and aluminum, increasing costs and uncertainty for businesses reliant on these metals for manufacturing, construction, and machinery [1][2] - The tariffs are part of a series of trade policies by the Trump administration, which claims that these measures will stimulate domestic production and create jobs, despite manufacturers expressing concerns over operational difficulties [2][5] - A canning company in the U.S. has reported that the increased tariffs will raise production costs for products like baby formula and dog food, leading to further price hikes for consumers [2][5] Group 2 - The automotive industry is significantly impacted by the tariffs, with steel being a major component in vehicles, potentially leading to price increases of $2,000 to $4,000 per new car [3] - The canning company has had to delay upgrading aging equipment due to the tariffs, highlighting the unpredictability and instability that these policies create for small businesses [5]

Core Insights - In May, U.S. private sector created only 37,000 new jobs, significantly below expectations and marking the smallest increase in over two years, attributed to trade policies making companies hesitant in hiring [1][3] - The majority of new jobs in May came from the service sector, particularly leisure and hospitality, while manufacturing and natural resources/mining saw job losses [1] - The report indicates a potential weakening labor market amid increasing economic uncertainty as employers reduce hiring [3] Employment Data Summary - In May, construction employment increased by 6,000, down from 16,000 in April; manufacturing jobs decreased by 3,000, following a 4,000 increase in April; trade/transportation/utilities jobs fell by 4,000, after a 21,000 increase in April; financial services added 20,000 jobs, consistent with April; professional/business services saw a decrease of 17,000 jobs, compared to a 2,000 decrease in April [1] - Year-over-year wage growth for construction workers was 4.6% in May, down from 4.7% in April; manufacturing wage growth remained at 4.6%; trade/transportation/utilities wage growth was 4.2%, down from 4.3%; financial services wage growth increased to 5.2% from 5.1%; professional/business services wage growth decreased to 4.2% from 4.3% [2]

Core Insights - The palm oil production forecasts for Indonesia, Malaysia, and Thailand remain unchanged, indicating stability in output levels [1] - Weather conditions and trade policy changes are identified as critical factors influencing market supply and demand, as well as future price trends [1] Group 1 - The palm oil production estimates for the three major producing countries are stable, suggesting no immediate changes in supply dynamics [1] - The report emphasizes the importance of external factors such as weather and trade policies in shaping the palm oil market [1]

消息面： 周二公布的美国4月JOLTs职位空缺录得139.1万人，高于市场预期710万人，前值位720万人；美国4月工厂订单 月率录得-3.7%，低于市场预期-3.1%，前值位3.4%。 行情回顾： 国际黄金周一（6月3日）冲高回落震荡收跌，开盘价3374.39美元/盎司，最高价3392.13美元/盎司，最低价 3333.10美元/盎司，收盘价3350.27美元/盎司。 评论称，美国4月份职位空缺意外增加，增幅相当大，招聘人数也有所增加，表明尽管经济不确定性加剧，但 对工人的需求仍然健康。美国劳工统计局周二公布的数据显示，就业空缺从3月份修正后的720万个增加到739 万个，高于710万个的预期。职位空缺的增加是由专业和商业服务、医疗保健和社会救助等私营行业推动的。 虽然州和地方教育导致政府总职位空缺减少，但联邦政府职位空缺增加。职位空缺的增加，加上稳定的招聘和 低失业率，支持了美联储关于就业市场状况良好的说法。然而，失业人员预计需要更长的时间才能找到工作， 经济学家预计，在特朗普总统征收关税的重压下，未来几个月劳动力市场将更加明显地疲软。 美联储贴现利率会议纪要：几位理事就与关税相关的预期价格压力发表了评论 ...

Group 1: Report Industry Investment Rating - No relevant content found Group 2: Core Viewpoints of the Report - For gold, the short - term view is to be cautious due to geopolitical and trade policy changes, with prices showing a volatile pattern. The recommendation is to take a wait - and - see approach [1][3] - For nickel, the short - term view is that it is expected to be strong, with the price showing a bottom - up trend and is predicted to run strongly in the short term [1][5] Group 3: Summary by Related Catalogs Gold - **Price Movement**: After the Dragon Boat Festival, the price of Shanghai gold dropped from 790 yuan/gram to 780 yuan/gram, and New York gold fell below 3400 US dollars. The price opened high and went low [3] - **Core Logic**: Geopolitical risks escalated during the Dragon Boat Festival (including intensified Russia - Ukraine conflict and tense Middle - East situation), and US trade policies became more aggressive (Trump announced to raise steel and aluminum import tariffs from 25% to 50% on June 4). However, the market's sensitivity to US tariff policies may have decreased, and there is a large long - short divergence in the market. Technically, the price is approaching the high of the medium - term downward track, with strong pressure and high willingness for long - position holders to close their positions [3] - **Viewpoints**: Short - term view is volatile, medium - term view is volatile, and the daily view is volatile and weak. The recommended view is to wait and see [1][3] Nickel - **Price Movement**: After the Dragon Boat Festival, the nickel price opened high and went low during the day and strengthened at night, with the main contract price oscillating between 121,000 - 122,000 yuan [5] - **Core Logic**: Before the festival, the nickel price dropped significantly due to rumors of an increase in Indonesian nickel ore quotas, but the rumors did not impact the Indonesian nickel ore price. Technically, the short - term price bottomed out and rebounded, and the technical support at the 120,000 - yuan mark is still effective. When non - ferrous metals generally fell yesterday, nickel was relatively strong, and it strengthened along with other non - ferrous metals at night [5] - **Viewpoints**: Short - term view is upward, medium - term view is volatile, and the daily view is upward. The recommended view is to be bullish in the short term [1][5]

Group 1 - The JOLTS report, a key labor market indicator for the Federal Reserve, is expected to show a decrease in job vacancies from 7.192 million in March to 7.1 million in April, which may exert pressure on the US dollar and support gold prices [1] - President Trump announced an increase in steel import tariffs from 25% to 50% due to a major Asian country not fulfilling preliminary tariff agreements, indicating a strong stance on trade policy [1] - The Federal Reserve's monetary policy expectations are providing additional support for gold prices [1] Group 2 - The market is currently maintaining a high-level oscillation pattern, with short-term pressure for a pullback after a rise, suggesting a strategy of selling on rallies [3] - Specific trading recommendations include establishing short positions when gold rebounds to the 3370-3375 and 3400-3405 ranges, with support levels identified at 3330-3310 [3]

美股芯片股集体大涨。 当地时间6月3日（周二），美国股市三大股指全线收涨，其中道琼斯工业指数录得四连涨。 美股芯片股集体大涨，费城半导体指数涨2.72%。其中，龙头股英伟达涨近3%，市值超过微软，达到3.45万亿美元，重新成为全球市值最高 公司。 美股道指录得四连涨 当地时间6月3日，美国股市三大股指全线收涨，其中道琼斯工业指数报42519.64点，涨0.51%，录得四连涨；标准普尔500指数报5970.37 点，涨0.58%；纳斯达克综合指数报19398.96点，涨0.81%。 美股大型科技股涨跌互现，具体来看，英伟达涨2.8%，苹果涨0.78%，特斯拉涨0.46%，微软涨0.22%；谷歌A跌逾1%，Meta跌0.6%，亚马 逊跌0.45%。 美股银行股多数上涨，其中美国银行、富国银行均涨逾1%，花旗集团涨近1%，高盛集团涨0.86%，摩根大通涨0.63%，摩根士丹利涨 0.21%。 能源股全线上涨，西方石油涨逾3%，斯伦贝谢涨超2%，雪佛龙、康菲石油均涨逾1%，埃克森美孚涨0.73%。 航空股涨跌互现，美国航空涨0.79%，达美航空涨0.68%，西南航空跌超1%，美联航跌0.18%。 中概股整体上涨，纳斯 ...

美东时间周二，美股三大指数集体收涨，截止收盘，道指涨0.51%，纳指涨0.81%，标普500指数涨 0.58%。 热门科技股多数上涨，博通涨超3%，英伟达涨超2%。计算机硬件、加密货币概念股涨幅居前，安森美 半导体涨超11%，纳微半导体涨超7%，超微电脑、Coinbase涨近5%，美光科技涨超4%，戴尔科技、希 捷科技涨超3%，英特尔、AMD涨超2%。 纳斯达克中国金龙指数收涨0.56%，热门中概股多数上涨，理想汽车涨超6%，爱奇艺涨超3%，拼多 多、小鹏汽车涨近2%，哔哩哔哩跌超2%，京东跌超1%。 01 特朗普急了 美国限时要求各国提贸易谈判最佳方案 据路透社报道，距离"对等关税"恢复期限仅剩5周，特朗普政府发出紧急信函，要求各国"在本周三前提 交贸易谈判的最佳方案"，包括购买美国工农业产品的关税和配额方案。 报道称，美国政府内部对完成交易有紧迫感，尽管白宫反复承诺"多项协议即将达成"。但迄今为止，美 国仅与英国这一主要贸易伙伴达成协议，且该协议更像是持续谈判的框架而非最终交易。 库克周二参加了美国外交关系委员会（Council on Foreign Relations）举办的活动，她表示："我认为美 国 ...

Core Insights - The Federal Reserve's discount rate meeting minutes indicate that while most board members believe the overall economic conditions are stable, there are concerns regarding the potential impacts of changing trade and other policies on economic activity, prices, and employment [1] Economic Conditions - A majority of board members view the recent economic situation as generally stable [1] - Concerns are raised about the effects of evolving trade policies on the economy [1] Policy Implications - The board expresses worries about how other policy changes may influence economic activity [1] - There is a focus on the potential implications for prices and employment due to these policy shifts [1]

Core Viewpoint - Concerns regarding the dollar no longer being the global reserve currency appear to be exaggerated, according to Federal Reserve's Goolsbee [1] Summary by Relevant Categories Currency Value and Trade Policy - The fluctuations in the value of the dollar are not surprising given the current trade policies and uncertainties [1]