Got to start with that Nvidia news. The idea of uh Chinese regulators and the government cracking down on on chip imports of Nvidia's chips. Uh what that could mean for the broader markets especially considering the waiting of Nvidia.>> Yeah, I mean obviously it's not good news. I mean we we saw some of the the news uh about rare earths a couple days ago as well. I I think putting the screws uh to the US a little bit ahead of the next round of negotiations u makes a lot of sense.you know, as far as Nvidia, ...

Key Takeaways Visa joins forces with HotelRunner to advance embedded and autonomous finance in travel.The partnership targets faster, more reliable global payments for small travel businesses.V's cross-border volume rose 12% y/y in Q3 FY25 as it deepens ties with the hospitality sector.Visa Inc. (V) is expanding its presence in the travel and hospitality industry through a strategic global partnership with HotelRunner, a travel and hospitality technology platform. This collaboration aims to enhance embedded ...

Investment Rating - The report maintains a base case for a 25 basis point rate cut in September, with potential for an earlier cut in July if unemployment rises sharply [6][11][40]. Core Insights - The Federal Reserve is closely monitoring economic data over the summer months to determine the timing of potential rate cuts, with a consensus forming around the likelihood of cuts resuming in September [5][8]. - Consumer spending has shown significant slowdown, particularly in real services spending, which has implications for economic growth and inflation [10][12][19]. - The unemployment rate is projected to rise to 4.4% in June, with a possibility of reaching 4.5% if job market conditions worsen, which could prompt earlier rate cuts [11][23][40]. Economic Indicators - Services inflation has remained subdued, with core PCE inflation at 0.179% month-over-month, indicating a cooling inflation environment [9][30]. - Real personal spending has stagnated, with a notable decline in both goods and services spending observed in recent months [10][30]. - The housing sector is experiencing weakness, with new home sales declining by 13.7% month-over-month in May, reflecting ongoing challenges in the market [15][18][30]. Labor Market Trends - Initial jobless claims have shown a slight decline, but continuing claims are rising, suggesting a loosening labor market [24][67]. - The Conference Board Consumer Confidence Index fell to 93.0 in June, indicating growing concerns among consumers regarding the labor market and economic conditions [19][30]. - Average hourly earnings are expected to slow to 0.2% month-over-month, reflecting a weakening labor demand environment [38][39]. Manufacturing and Trade - ISM Manufacturing is expected to remain in contraction, while ISM Services is projected to rebound slightly, indicating modest growth in services activity [60][63]. - The trade balance is anticipated to widen to -$71.7 billion, driven by a drop in exports, which could weigh on GDP growth [57][58].

Group 1 - The core viewpoint of the article highlights a significant increase in tourism and consumption during the "May Day" holiday, with a 30% year-on-year growth in cultural and tourism orders compared to 2023, marking the highest level in three years [1] - The top ten popular destinations in China during the holiday included cities like Nanjing, Xi'an, Chengdu, and Beijing, with a remarkable 189% increase in online dining transactions contributed by non-local tourists [1] - The "post-95" generation accounted for 45% of cultural and tourism orders, indicating a strong demand for personalized and in-depth travel experiences [3] Group 2 - In Hunan province, the service consumption scale for food, drink, and entertainment grew by over 30% year-on-year, with a nearly 80% increase compared to the week before the holiday [5] - County tourism has emerged as a new choice for the "post-00" generation, with Newhua County ranking among the top ten county destinations nationwide, and several counties in Hunan experiencing rapid growth in cultural tourism [5] - The night economy significantly boosted Hunan's tourism during the holiday, with a nearly 130% increase in night economy consumption [7]