Overnight US stocks | Three major indices hit new highs again, with the Nasdaq index accumulating an 8.36% increase this month. Dell Technologies, Inc. Class C technology (DELL.US) rose by 32.76%.

On Friday, the three major indexes hit new highs again. Senior US government officials revealed that Trump's meeting in the Situation Room lasted about two hours, but no decision was made on any new agreement with Iran. The Trump administration stated that they are close to reaching an agreement, but some issues are still being discussed, including the unfreezing of Iranian funds. The Dow Jones Industrial Average rose 0.9% this week, the Nasdaq rose 2.39%, and the S&P 500 index rose 1.43%. In May, the Dow Jones rose 2.78%, the Nasdaq rose 8.36%, and the S&P 500 index rose 5.15%. [US stocks] At the close, the Dow Jones rose 363.49 points, up 0.72%, to 51,032.46; the Nasdaq rose 55.15 points, up 0.20%, to 26,972.62; the S&P 500 index rose 16.43 points, up 0.22%, to 7,580.06. Dell Technologies, Inc. Class C Technology (DELL.US) rose 32.76%, IBM (IBM.US) rose over 12%, Qualcomm (QCOM.US) rose over 3%, Oracle Corporation (ORCL.US) rose over 10%. The Nasdaq Golden Dragon Index closed flat, with Baidu Inc Sponsored ADR Class A (BIDU.US) up 2.4% and Alibaba Group Holding Limited Sponsored ADR (BABA.US) down 1.5%. The S&P 500 index rose 5.15% this month, the Nasdaq rose 8.36%, and the Dow rose 2.78%. The S&P 500 index rose for the ninth consecutive week, marking its longest streak since December 2023. [European stocks] The Germany DAX30 index rose 5.74 points, up 0.02%, to 25,108.35; the UK FTSE 100 index fell 20.62 points, down 0.20%, to 10,405.34; the France CAC40 index fell 5.53 points, down 0.07%, to 8,183.34; the Euro Stoxx 50 index fell 7.06 points, down 0.12%, to 6,048.05; the Spain IBEX35 index rose 67.67 points, up 0.37%, to 18,366.97; the Italy FTSE MIB index rose 199.18 points, up 0.40%, to 50,024.50. [Asian stock markets] The Nikkei 225 index rose 2.53%, and the South Korea KOSPI index rose 3.55%. [US Dollar Index] The US dollar index fell on the 29th. The US dollar index, which measures the US dollar against six major currencies, fell 0.12% to close at 98.902 in the foreign exchange market. At the close of the New York foreign exchange market, 1 Euro was exchanged for 1.1664 US dollars, higher than the previous trading day's 1.1648 US dollars; 1 British pound was exchanged for 1.3461 US dollars, higher than the previous trading day's 1.3440 US dollars. 1 US dollar was exchanged for 159.26 Japanese yen, higher than the previous trading day's 159.26 Japanese yen; 1 US dollar was exchanged for 0.7811 Swiss francs, lower than the previous trading day's 0.7841 Swiss francs; 1 US dollar was exchanged for 1.3797 Canadian dollars, higher than the previous trading day's 1.3784 Canadian dollars; 1 US dollar was exchanged for 9.2338 Swedish kronor, lower than the previous trading day's 9.2551 Swedish kronor. [Cryptocurrency] Bitcoin returned above $73,000, trading at $73,471.2; Ethereum rose 0.4% to $2,014.19. [Crude oil] Optimism about the possible reopening of the Strait of Hormuz soon led to a drop in crude oil prices to a six-week low on Friday. WTI crude oil fell by nearly 2%, closing at around $87 per barrel; the global benchmark Brent crude oil closed near $92. [Precious metals] Spot gold rose 1% to $4,541.37 per ounce; spot silver fell slightly by 0.42% to $75.32 per ounce. [Macro News] Iranian Foreign Ministry: Exchanges between Iran and the US are still ongoing and no final consensus has been reached. On the evening of May 29th local time, the Iranian Foreign Ministry spokesperson, Bahaei, stated that exchanges between Iran and the US are still ongoing, but no final consensus has been reached. Bahaei also stated that no party in the West can use the language of "must" when discussing Iran. Iran will only make decisions based on the interests and rights of the Iranian people. Regarding the issue of navigation in the Strait of Hormuz, Bahaei stated that the strait is within the territorial waters of Iran and Oman, and Iran and Oman must establish mechanisms to protect their own interests and national security as coastal countries and ensure the safe navigation of the waterway to the international community. Fed Governor Bowman: It is still too early to judge the impact of war on inflation, and policymakers need to temporarily ignore price shocks. Fed Governor Bowman stated that it is still too early to judge the impact of the Iran war on inflation, and policymakers need to adopt a "temporarily ignore" attitude towards temporary price shocks. Bowman expressed support for the officials' decision last month to maintain the hint of a possible further rate cut in their post-meeting statement. This stance sets her apart from an increasing number of policymakers who hope the Fed will signal that the next move could be either a rate hike or a rate cut. "When thinking about the future direction of monetary policy, I hope to have a clearer understanding of the economic impact of the Middle East conflict and its sustainability," Bowman said. "As long as our commitment to achieving the inflation target remains credible, it is appropriate to 'temporarily ignore' temporary inflation data driven mainly by rising energy prices." Bank of England Governor Bailey: A ceasefire between the US and Iran would still bring uncertainty. Bank of England Governor Bailey warned that if a 60-day ceasefire is achieved between the US and Iran, it would still bring uncertainty and would not immediately pave the way for a rate cut. Bailey stated that an impending agreement would not alter his fundamental assessment of the risks the conflict poses to the UK economy. US officials had previously indicated that the agreement was close to being reached. Bailey said, "A 60-day ceasefire might help, but it won't completely solve the problem." He also said that such an agreement "will still bring uncertainty and make it unclear what will happen after 60 days." Bailey also stated that he has not completely ruled out a scenario where energy prices quickly drop but do not affect underlying inflation. However, for this scenario to prompt a rate cut by the central bank, "you must have stronger confidence" that this shock will not last long. Canada falls into "technical recession" for the first time since 2020. Weakness in business and government spending led to a slight contraction in the economy in the first quarter, putting Canada's economy into a "technical recession." Statistics Canada reported on Friday that the country's real GDP declined by 0.1% on an annualized basis in the first three months of this year. Prior to this, there was already a 1% contraction in the fourth quarter, which was revised down from the previously reported 0.6% decline. The unexpected economic downturn in the first quarter sharply contrasted with the expectations of forecasters surveyed by the media, who had widely expected Canada's economy to grow at an annualized rate of 1.5% in the first quarter, in line with the Bank of Canada's forecast. Canada last recorded consecutive quarters of negative growth during the COVID-19 pandemic in 2020. Prior to that, this situation occurred during the period of low oil prices in 2015. [Stock News] Alphabet Inc. Class C (GOOG.US, GOOGL.US) TPU may face unprecedented large orders. Private equity giant Apollo Global Management Inc. and Blackstone Inc. are planning a massive chip financing deal for Anthropic. Latest reports indicate that private equity giants Apollo Global Management Inc. and Blackstone Inc. are introducing more investors for a debt financing deal worth about $36 billion to help Anthropic build its artificial intelligence infrastructure. This debt financing is intended for the purchase of custom TPU (Tensor Processing Unit) chips from Alphabet Inc. Class C, which will then be leased by Anthropic for use. Broadcom Inc., which assisted Alphabet Inc. Class C in developing the chip, will provide most of the guarantees for this deal. This move is expected to become one of the largest private credit transactions in history and possibly the largest chip financing debt transaction to date. The plan aims to provide computing power support to Anthropic with the credit rating of Broadcom Inc. Danish pension fund blacklists SpaceX: Governance concerns and overvaluation. Danish pension fund AkademikerPension has decided to blacklist SpaceX due to concerns about the governance of the company. This comes as SpaceX is preparing for an IPO and seeking to achieve a valuation of at least $1.8 trillion. According to sources, the company plans to raise up to $750 billion, which, if successful, would be the largest IPO in history. AkademikerPension manages assets of around $25 billion and had previously included Tesla, Inc. (TSLA.US) and US Treasury bonds on its exclusion list out of sustainability considerations. The fund stated that its decision to avoid SpaceX is primarily related to ESG (environmental, social, and governance) factors, "especially the company's extremely poor performance in governance affairs." The pension fund added, "However, if we assess that SpaceX represents an extremely attractive investment opportunity, then from the perspective of investment returns, we cannot provide justification for this decision." "Nevertheless, as long-term investors, our view is that the company's valuation is also severely overinflated."