Overnight US stocks | Trump claims that the US and Iran are about to sign an agreement. The three major indexes surged and Intel Corporation (INTC.US) rose more than 9%. Spot gold returned above $4200.

On Thursday, the three major stock indexes rose, with the Dow Jones Industrial Average up about 930 points. President Trump of the United States said he had canceled the planned strike against Iran tonight and announced that the U.S. is about to sign an agreement with Iran. The market has pushed back the expectation of a Federal Reserve interest rate hike from December this year to January next year, and the possibility of a rate hike this year is no longer completely being considered. U.S. StocksAt the close, the Dow rose 929.97 points, or 1.86%, to 50848.75 points; the Nasdaq rose 640.16 points, or 2.54%, to 25809.66 points; the S&P 500 rose 127.30 points, or 1.75%, to 7394.29 points. Intel Corporation (INTC.US) and Super Micro Computer, Inc. (SMCI.US) rose over 9%, NVIDIA Corporation (NVDA.US) rose 2%, Tesla, Inc. (TSLA.US) rose over 4%. The Nasdaq Golden Dragon Index closed up 0.24%, Alibaba Group Holding Limited Sponsored ADR (BABA.US) fell more than 1%. European StocksThe German DAX30 index rose 9.82 points, or 0.04%, to 24228.14 points; the UK's FTSE 100 index rose 51.45 points, or 0.50%, to 10306.26 points; the French CAC40 index rose 38.97 points, or 0.48%, to 8200.80 points; the Euro Stoxx 50 index rose 47.65 points, or 0.79%, to 6057.60 points; the Spanish IBEX35 index rose 156.19 points, or 0.86%, to 18298.89 points; the Italian FTSE MIB index rose 504.33 points, or 1.01%, to 50533.50 points. Asian MarketsThe Nikkei 225 index was slightly up, the Korean Composite Stock Price Index rose 0.43%, and the Indian Sensex index fell 0.2%. US Dollar IndexThe US Dollar Index, which measures the dollar against six major currencies, fell 0.1% on the day to close at 99.852 in the forex market. At the close of the New York forex market, 1 euro exchanged for 1.1558 US dollars, higher than the 1.1548 US dollars of the previous trading day; 1 pound exchanged for 1.3398 US dollars, higher than the 1.3380 US dollars of the previous trading day. 1 dollar exchanged for 160.08 yen, lower than the 160.50 yen of the previous trading day; 1 dollar exchanged for 0.7970 Swiss francs, lower than the 0.7994 Swiss francs of the previous trading day; 1 dollar exchanged for 1.3981 Canadian dollars, higher than the 1.3937 Canadian dollars of the previous trading day; 1 dollar exchanged for 9.4759 Swedish Krona, lower than the 9.4948 Swedish Krona of the previous trading day. CryptocurrencyBitcoin rose over 3.5%, to $63,557.99; Ethereum rose over 3.8%, to $1,678.78. Crude OilNYMEX Light Sweet Crude Oil futures for July delivery fell $2.32 to close at $87.71 per barrel, a decrease of 2.58%; ICE Brent Crude Oil futures for August delivery fell $2.72 to close at $90.38 per barrel, a decrease of 2.92%. Precious MetalsSpot gold rose 3.46% to $4,211.48 an ounce. Spot silver was at $67.375 per ounce. Macro News Trump: Canceling the Iran Strike Tonight and will announce the time and place of the signing of the agreement soon. President Trump of the United States said in a post on social media that, given the discussions with the Islamic Republic of Iran have been submitted to and approved by the highest leadership of Iran, I, as the President of the United States, have canceled the planned strike and bombing operation against Iran tonight. Discussions and details, whether in principle or in a large number of details, have been approved by all relevant parties, including the United States, Israel, Saudi Arabia, the United Arab Emirates, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, and other countries. The naval blockade will continue to be fully effective until the agreement is formally implemented - the time and place of signing will be announced soon. CME Group Inc. Class A plans to launch all-day trading for crude oil and gold futures contracts. CME Group Inc. Class A (CME) announced that, after obtaining regulatory approval, it will provide trading services 24 hours a day, 7 days a week for new smaller-sized crude oil and gold contracts. The new size of the crude oil contract will be one-tenth of CME Group Inc. Class A's existing Micro WTI Crude Oil Futures contract and will launch on August 30. The 24-hour trading of the company's existing 1-ounce gold futures contract will begin on July 26. Derek Sammann, Global Head of Commodities Markets at CME Group Inc. Class A, said, "In the face of GEO Group Inc's political uncertainty, we offer regulated products with appropriate specifications and 24/7 availability to ensure that traders can manage risks at any time when news breaks." Fed data shows the size of U.S. commercial paper expanded last week. Data released by the Federal Reserve on Thursday showed that for the week ending June 10, the size of U.S. commercial paper increased. The latest weekly seasonally adjusted U.S. outstanding commercial paper increased by $11.4 billion to $1.413 trillion. The non-seasonally adjusted outstanding commercial paper size decreased by $6.9 billion to $1.466 trillion. Some analysts believe that the non-seasonally adjusted data is more reliable than the seasonally adjusted data, as the latter is distorted by the financial crisis. The non-seasonally adjusted foreign Financial Institutions, Inc. commercial paper outstanding size decreased by $7.2 billion to $356.0 billion. U.S. wholesale inflation soars again, continuing to pressure businesses and the economy. Wholesale prices in the United States rose by the largest consecutive amount since 2022 in May, putting pressure on businesses as they grapple with a new round of U.S. inflation. Data showed that the Producer Price Index (PPI) rose by 1.1% last month, higher than the market's expectation of 0.7%. In the past 12 months, wholesale prices have risen by 6.5%, marking the largest annual increase since late 2022. Despite the continuous rise in costs, businesses have yet to attempt to pass on all of these additional expenses to customers, who are showing resistance to paying higher fees after experiencing five years of high inflation. However, part of the increase in wholesale prices is inevitable and will be passed on to consumers. Wholesale prices are where inflation first appears, and these prices often foreshadow changes in the prices consumers pay in the future. Steve Rick, Chief Economist at financial services provider TruStage, said, "Inflation is becoming difficult to eliminate completely. Although prices have fallen from their peak, businesses are still facing rising costs in labor, transportation, and energy, some of which will eventually be passed on to consumers." Sources: The European Central Bank is expected to pause after its first interest rate hike. According to two sources, European Central Bank policy makers are expected to maintain interest rates at their next meeting in July as long as energy prices remain near current levels. The European Central Bank raised interest rates for the first time in almost three years on Thursday, aiming to curb the inflation that has spread to the eurozone economy as fuel costs rise due to the Iran war. Two sources at the meeting said that as long as energy prices do not experience sudden large fluctuations, the possibility of the European Central Bank pausing its rate hike at the next meeting on July 22 is currently higher than the possibility of a rate hike. One of the sources said that, given that there has not been a second-round impact on prices of other goods and services, only a significant increase in oil prices up to over $100 per barrel for Brent crude oil would trigger a rate hike in July. Another source said that further unexpected increases in core inflation rates could also change the market situation. However, both sources pointed out that the European Central Bank's forecasts already include two rate hikes, so even if decision-makers pause the rate hike in July, they may take action later (possibly in September), and the inflation situation may not necessarily improve substantially. Individual Stock News Bezos downplays concerns over AI causing unemployment amid launching new projects. Amazon.com, Inc. (AMZN.US) founder Bezos said he expects artificial intelligence to lead to "labor shortages in the economy" and dismissed concerns that the rapidly developing technology will replace human jobs. At the same time, he is launching a new project aimed at increasing the efficiency of engineers. Bezos is currently co-leading a new artificial intelligence company called Prometheus, which plans to build a "universal artificial intelligence engineer" capable of designing and manufacturing complex physical products such as jet engines. Bezos said in an interview that the company's goal is to "empower engineers to make invention simpler and faster, so that smaller teams can complete larger projects in a shorter period of time." Bezos said that some of the pessimism young people have towards artificial intelligence is "opposite to reality." He said that while artificial intelligence will reduce the demand for labor in existing positions, it will also create more job opportunities and increase productivity.