The number of initial jobless claims in the United States last week was 242,000, the highest since the week of August 12, 2023. The monthly rate of PPI in the United States in May was -0.2%, the largest drop since October 2023.

PPI was lower than expected and decreased month-on-month, which made the market believe that the PCE in May announced at the end of June is also expected to weaken. It is estimated that the month-on-month growth rate will be lower than 0.2%. Coupled with the unexpected increase in the number of unemployment claims in the United States that week (the increase in unemployment mainly came from California, which may be related to the recent concentrated optimization of layoffs by technology companies), the market's expectations for short-term interest rate cuts have risen.

SEC Chairman Gary Gensler said in response to a question from Senator Bill HagertyTN that the S1 document approval time for the Ethereum spot ETF will be sometime in the summer of this year, so it is likely to be around July this year. Personally, I guess it will be approved.