On July 12, the US dollar index was 104.462, down 0.08%; the US 10-year Treasury bond yield was 4.2240%, down 1.62%. The CPI data was lower than expected, greatly increasing the possibility of a rate cut this year. Japan took the opportunity to intervene in the yen exchange rate, the US dollar weakened, US Treasury bonds soared in the early morning, US stock funds began to rotate, and the Russell 2000 rose sharply.
On the Fed side, Chicago Fed President Goolsbee described the CPI data as "excellent" and said the report provided the evidence he had been waiting for to be convinced that the central bank is moving towards its 2% target. San Francisco Fed President Mary Daly said that inflation is expected to gradually decline, the labor market is also gradually slowing down, and interest rates may be cut 1-2 times this year. The final result of the interest rate cut still depends on the data and meeting discussions.
In terms of cryptocurrency, Ethereum finally looks like it will have its ETF approved. The Ethereum-Bitcoin exchange rate has stabilized at 0.054, and there is hope for further increases. As of now, the price of Ethereum is $3,081 and the price of Bitcoin is $56,978.
The Nasdaq and S&P 500 in the U.S. stock market both fell on Thursday. As expectations of interest rate cuts became clearer, funds began to rotate from large-cap stocks and the seven technology giants to small-cap stocks. The S&P 500 fell 0.88% to close at 5,584.54 points. The Nasdaq fell 1.95% to 18,283.41 points, the largest single-day percentage drop since April 30; the Dow Jones Industrial Average rose 0.08% to 39,753.75 points; and the Russell 2000 rose 3.59% to close at $210.68.
In terms of AI stocks, $NVDA fell 5.57% to close at $127.4; $AMD fell 1.10% to close at $181.94; $AVGO fell 2.22% to close at $1705.95; $SMCI fell 1.2% to close at $889.22; $INTC fell 3.93% to close at $33.5.
In terms of local dog stocks, $GME rose 2.4% to close at $25.57; $CHWY rose 4.21% to close at $26.47; $AMC rose 0.19% to close at $5.22; $FFIE rose 1.58% to close at $0.405.
In terms of Bitcoin ETF, GBTC saw an outflow of US$37.7 million, IBIT saw an inflow of US$72.1 million, FBTC saw an inflow of US$32.7 million, BITB saw an inflow of US$7.5 million, and ARKB saw an inflow of US$4.3 million. On July 12, the total inflow of Bitcoin ETF was US$78.9 million.
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