Real-time News

U.S. official: (explaining the government's view on the Strait of Hormuz) The U.S. estimates that the flow of approximately 10 million barrels of oil through the Strait of Hormuz could weaken Iran's oil influence.

July 2 – U.S. Trade Representative Jamison Greer announced that the United States has decided not to renew its trade agreements with Canada and Mexico, but instead will conduct an annual review of the agreements. The USMCA (United States-Mexico-Canada Agreement) officially came into effect on July 1, 2020, replacing the North American Free Trade Agreement (NAFTA), which came into effect in January 1994, and is set to expire in 2036.

Ukrainian Prime Minister: Ukraine is launching a new arms export mechanism.

U.S. Vice President Vance: Technical negotiators are discussing the Iran issue.

Portuguese Automobile Association (ACAP): New registrations of pure electric vehicles in Portugal in June increased by 63.1% year-on-year.

Italian Ministry of Transport: Tesla (TSLA.O) new car registrations increased by 22.42% year-on-year from January to June.

The Italian Ministry of Transport reported that Tesla (TSLA.O) new car registrations in June increased by 42.78% year-on-year.

July 1st - According to industry sources, ASE Technology Holding Co., Ltd., the world's number one semiconductor packaging and testing (OSAT) supplier, announced another round of price increases for its packaging products, with increases exceeding 20%. The price hikes cover various advanced packaging technologies, including wafer-on-chip (CoWoS) and fan-out substrate-on-chip (FoCoS).

JPMorgan Chase (JPM.N) has appointed Scot Baldry as Chief Data and Analytics Officer. Heitsenrether will leave the company after a 40-year tenure.

Meta Platforms (META.O): Appointed Alex Schultz as the company's first Chief Data Officer; Denise Moreno will become Chief Marketing Officer.

US Vice President Vance: The US has a response plan if Iran attempts to rebuild its nuclear program.

US Vice President Vance reiterated that Iran's navy and military forces have been destroyed.

U.S. Trade Representative Greer: The United States has decided not to extend the USMCA agreement and will evaluate it annually.

According to a letter from the Indian Ministry of Information Technology, the Indian government has requested Meta Platforms (META.O) to submit detailed information regarding the WhatsApp "username" feature within three days.

On Wednesday, July 1st, the German DAX 30 index closed up 64.28 points, or 0.26%, at 25043.53; the UK FTSE 100 index closed down 19.51 points, or 0.19%, at 10477.61; the French CAC 40 index closed down 66.70 points, or 0.79%, at 8337.29; the Euro Stoxx 50 index closed down 46.49 points, or 0.73%, at 6281.60; the Spanish IBEX 35 index closed down 49.67 points, or 0.26%, at 19409.03; and the Italian FTSE MIB index closed down 78.93 points, or 0.15%, at 51603.50.

The percentage of bids for the 4-month U.S. Treasury bonds up to July 1 was 57.66%, compared to 11.15% previously.

The bid-to-cover ratio for the 4-month U.S. Treasury bond auction ending July 1 was 2.66, compared to 2.55 previously.

The US 4-month Treasury auction, ending July 1, saw a winning yield of 3.795%, compared to 3.77% previously.

July 1st - Two weeks after Warsh took office as Federal Reserve Chairman, a senior economic advisor to Trump hinted that the White House might not welcome any interest rate hikes. The Fed's preferred inflation gauge is currently above 4%, and Warsh emphasized that lowering it to 2% is not out of the question. However, in an interview with Fox Business Network on Wednesday morning, White House National Economic Council Director Hassett warned that using interest rate hikes to curb price increases would be a mistake. Hassett believes the economy is in a "supply-driven boom." He pointed out that Warsh holds a similar view, emphasizing this point during his Fed chairmanship campaign last year. "In this context, raising interest rates is simply a macroeconomic mistake," Hassett said. President Trump has repeatedly criticized former Fed Chairman Powell, accusing him of keeping interest rates above Trump's expectations. In recent months, Trump has repeatedly stated that he will give Warsh greater autonomy to formulate policies based on his own judgment. However, Hassett's remarks on Wednesday indicate that the White House still has strong opinions about the Fed's policy-making methods.