According to Odaily Planet Daily, the U.S. June unadjusted core CPI annual rate was 3.3%, expected to be 3.40%, and the previous value was 3.40%. The June seasonally adjusted CPI monthly rate was -0.1%, expected to be 0.10%, and the previous value was 0.00%. The number of initial jobless claims in the week ending July 6 was 222,000, expected to be 236,000, and the previous value was 238,000.
● JPMorgan Chase changes its forecast for a Fed rate cut from November to September
According to TechFlow, on July 11, Jinshi data showed that JPMorgan Chase has adjusted its expectations for the Federal Reserve's interest rate cut from November to September.
● Fed's Daly: The economy shows that one or two rate cuts this year would be more appropriate
According to BlockBeats, on July 12, Fed Chairman Daly said that the recent inflation situation is a relief, but progress will not be smooth; inflation is expected to gradually decline, and the labor market is also gradually slowing down; the economy appears to be on a path where it is "more or less" more appropriate to cut interest rates once or twice this year.
More information is needed before fully taking the next step; with so many people talking about the labor market, it's a pretty big signal from the Fed; the labor market has slowed but remains solid.
● Sources: Ethereum ETF issuers are waiting for details from the SEC on final filings
According to ChainCatcher, sources said that Ethereum ETF issuers are waiting for the SEC to provide details on the final documents. A source from an issuer said: "The next step is to wait for the SEC's feedback to see what to do next. Do they need a final draft? When do they need it?" They pointed out that the SEC's next feedback will be of great reference value.
After the issuer’s Form 19b-4 was approved in May, they have been going back and forth with the SEC on the second part of the two-step process: Form S-1. Unlike the first form, Form S-1 does not have a deadline for becoming effective, but it still needs to be submitted before the ETF can officially go live. The SEC has provided multiple rounds of comments to the issuer for revising the form, each of which takes several weeks. However, the issuer is beginning to hope that the process may be nearing its end. "The SEC is continuing its review and it seems like we are getting closer to final approval," said a source at another issuer. "We expect one more final document, but the exact timing is unclear."
● The U.S. House of Representatives failed to override Biden’s veto of SAB 121-related resolutions
According to Blockworks, House representatives chose to support President Biden and maintain his accounting bill SAB 121, which aims to abolish the Securities and Exchange Commission (SEC). 228 House members voted against the veto, and 184 voted in favor of Biden's decision, but it was not passed. A two-thirds majority (290 of 435 House members) was required to overturn the veto, and the U.S. Securities and Exchange Commission's cryptocurrency accounting policy remained unchanged.
According to Odaily Planet Daily, the U.S. Securities and Exchange Commission (SEC) has abandoned its investigation into Paxos and determined that BUSD is not a security.
● Stocks of US tech giants fell, market value evaporated by nearly $600 billion
According to BlockBeats, on July 12, after the good news of the US CPI data, traders chose to withdraw from the recent strong performance of technology giants. Heavyweight stocks Nvidia closed down 5.57%, Tesla fell 8.44%, Meta fell more than 4%, Apple, Microsoft, Google and Amazon fell more than 2% respectively. In contrast, the Russell 2000 index, which is dominated by small-cap stocks, closed up more than 3.5%. The market value of the "Big Seven" evaporated by nearly $600 billion in a single day, which is equivalent to the evaporation of a JPMorgan Chase (market value of $595.46 billion).
● MicroStrategy Announces 10-for-1 Stock Split
According to BlockBeats, on July 11, MicroStrategy founder and chairman Michael Saylor wrote that MicroStrategy announced a 1:10 stock split.
According to Odaily Planet Daily, BNB Chain announced that Payman, BalloonDogs, and Blackwing won the first BNB Incubation Alliance event and were selected for the MVB Accelerator Program.
