Macro Economic Group - The U.S. retail sales in June increased by 0.6% month-on-month, reversing a two-month decline, with the previous values being -0.9% in May and -0.1% in April, exceeding most economists' expectations [4] - Core retail sales, excluding automobiles and parts, also rose by 0.5% in June, compared to -0.2% in the previous month [4] - The University of Michigan's consumer sentiment index for June was reported at 60.7, up from 52.2, but still significantly lower than the December level of 74, indicating a divergence between subjective and objective economic indicators [4] Advanced Manufacturing Group - Tesla announced the new Model Y L, a luxury electric SUV with dimensions of 4.976 meters in length, 1.92 meters in width, and 1.668 meters in height, seating six passengers, expected to launch in Q3 with a price around 400,000 yuan [7] - The Model Y L is seen as a strategic response to sales pressure and market segmentation, aiming to capture the high-end family market while reinforcing Tesla's technological moat in the long term [7] - The new model is expected to impact competitors like Li Auto, NIO, and Xpeng, particularly in the high-end market segment, and will benefit suppliers in battery technology, casting a positive outlook on companies like CATL [8] Consumer Group - Youyi Foods projected a revenue of 746 to 798 million yuan for the first half of 2025, representing a year-on-year growth of 40.9% to 50.8%, with net profit expected to be between 105 to 112 million yuan, a growth of 37.9% to 47.6% [10] - The second quarter revenue is anticipated to be between 363 to 415 million yuan, with a year-on-year growth of 42.7% to 63.2%, and net profit growth of 66.5% to 88.8% [10] - The company's growth is closely linked to channel expansion and new product performance, with significant sales from new products in the Sam's Club channel and a strong online sales growth trend [10]

Group 1 - The Westpac Bank and Melbourne Institute report indicates that the consumer confidence index in Australia rose by 0.6% to 93.1 points in July 2025, following a 0.5% increase to 92.6 points in June 2025 [1] - Prior to the Reserve Bank of Australia's decision to maintain the benchmark interest rate, the consumer confidence index was as high as 95.6 points, but dropped to 92 points after the announcement, reflecting a cautious pessimism among consumers [1][2] - The survey revealed that the sub-index predicting economic conditions for the next year increased by 1.8% to 94.1 points, while the five-year economic outlook sub-index decreased by 2.8% to 93.4 points [2] Group 2 - The report highlighted that the index measuring household financial conditions for the next year rose by 2.6% to 101.4 points, while the index reflecting changes in household financial conditions over the past year increased by 5% to 79.2 points [2] - The housing market sentiment index fell by 5.1% to 88.5 points, and the unemployment expectations index rose by 1.1% to 128.7 points, indicating growing concerns about job security [2] - The Reserve Bank of Australia is expected to hold its next monetary policy meeting on August 11-12, with potential interest rate cuts anticipated if inflation data aligns with the target range of 2-3% [3]

Group 1 - The core consumer confidence index for Australia in July is reported at 93.1, an increase from the previous value of 92.6 [1]

Core Viewpoint - The Swiss consumer confidence index for June is reported at -32.2, which is better than the expected -35 and the previous value of -36.5 [1] Group 1 - The current consumer confidence index indicates a slight improvement in consumer sentiment compared to previous months [1] - The index value of -32.2 suggests that consumers remain pessimistic, but the decrease in negativity from -36.5 to -32.2 may signal a potential stabilization in consumer outlook [1]

Group 1 - The core point of the article is that Switzerland's consumer confidence index for June is reported at -32.2, which is better than the expected -35 [1]

Group 1 - The Swiss consumer confidence index for June is set to be released in ten minutes [1]

Group 1 - Key Point 1: Focus on the economic outlook as Federal Reserve officials, including Waller and Daly, are scheduled to speak on July 11, 2025 [2] - Key Point 2: Key economic data releases from the UK include May GDP, manufacturing output, trade balance, and industrial output, all set to be announced at 14:00 [2] - Key Point 3: France's final CPI for June will be released at 14:45, while Switzerland's consumer confidence index for June will be available at 15:00 [2] Group 2 - Key Point 1: The IEA will publish its monthly oil market report at 16:00, which may provide insights into global oil supply and demand trends [2] - Key Point 2: Canada's employment numbers for June will be released at 20:30, which could impact market sentiment regarding the Canadian economy [2] - Key Point 3: The total number of oil rigs in the US will be reported for the week ending July 11 at 01:00 the following day, indicating activity levels in the oil sector [2]

Group 1 - The consumer confidence index in Thailand for June is reported at 52.7, which is a decrease from May's figure of 54.2 [1]

Group 1 - The consumer confidence index in Indonesia for June is reported at 117.8, which shows a slight increase from May's index of 117.5 [1]

Core Points - The recent passage of the "Big Beautiful Act" in the U.S. Congress reflects a significant shift towards austerity measures that disproportionately affect lower-income individuals and workers [4][10] - The act extends tax benefits for the wealthy while cutting food assistance and medical subsidies for the poor, indicating a regression to a more conservative societal structure reminiscent of the Cold War era [6][10][11] - The U.S. is facing a growing national debt, nearing $35 trillion, with interest payments exceeding $1 trillion annually, prompting the need for spending cuts [9] Summary by Sections Legislative Changes - The "Big Beautiful Act" passed with a narrow vote of 218 to 214, with no Democratic votes in favor and only two Republicans opposing [4] - Key provisions include the extension of tax benefits for the wealthy and cuts to food assistance and medical subsidies for the poor [4][10] Economic Context - Over the past decade, average wage growth in the U.S. was around 3% annually before the pandemic, but real purchasing power has stagnated despite nominal increases of over 5% in recent years [6] - The wealth of the top 10% of Americans increased by over 15% in the past year, driven by stock market and real estate gains, while lower-income households have seen their savings diminish [7] Social Implications - The cuts to welfare programs, including a 4% reduction in food assistance and over 1% in children's health insurance subsidies, suggest a return to a society where the working poor must work harder for less support [10][11] - The current economic environment is characterized by a strong dollar and high interest rates, which may lead to further cuts in education and housing subsidies if fiscal pressures continue [13] Consumer Sentiment - Despite rising stock markets, consumer confidence remains low, with many Americans expecting negative economic conditions in the near future [15] - The passage of the "Big Beautiful Act" indicates a prioritization of corporate interests and fiscal strength over the welfare of ordinary workers, raising concerns about the long-term societal impact [15][17]