Most of the large technology stocks fell. Nvidia fell more than 5%, Apple, Amazon, Google, and Microsoft fell slightly; Tesla rose more than 1%, and Netflix and Facebook rose slightly. Most popular Chinese concept stocks fell, Bilibili fell more than 5%, iQiyi fell more than 4%, Pinduoduo, Vipshop fell more than 3%, Weibo fell more than 1%, Baidu, Ideal Auto, Futu Holdings Slight decline; JD.com, Weilai, and Alibaba rose by more than 1%, while Tencent Music, Manbang, Netease, and Xiaopeng Motors rose slightly.
European stock market: The main European stock indexes fell collectively. The average price index of 100 stocks in the “Financial Times” of the London stock market closed at 7446.14 points, a decrease of 75.93 points or 1.01% from the previous trading day; It closed at 7098.70 points, down 111.05 points or 1.54% from the previous trading day; the German Frankfurt stock market DAX index closed at 15664.02 points, down 244.89 points or 1.54% from the previous trading day.
Commodity market: International oil prices fell, the price of light crude oil futures for July delivery on the New York Mercantile Exchange fell by US$1.37 to close at US$68.09 a barrel, a decrease of 1.97%; the price of London Brent crude oil futures for July delivery fell 0.88 US dollars, to close at 72.66 US dollars a barrel, a decrease of 1.20%. The international gold price rose, and the August gold futures price, the most active in the New York Mercantile Exchange gold futures market, rose $5 from the previous trading day to close at $1982.1 an ounce, an increase of 0.25%.
The following is a summary of important information on the global market:
Overnight news A number of Fed officials stated that “June can temporarily stop raising interest rates” The Beige Book confirms that the economic heat is slowing down
In the early hours of Thursday, Beijing time, under the influence of several Fed officials saying that “June can temporarily stop raising interest rates” and the economic status report showing that the US economy is not as “hot” as before, the U.S. dollar index continued to rise and fall in the past few days attitude. Also in the early hours of Thursday morning, the Federal Reserve also released the latest U.S. economic outlook survey report, commonly known as the Beige Book. In summary, the overall level of economic activity in the United States did not change much in April and early May. While most contacts expect economic activity to continue to expand, expectations for future growth have deteriorated slightly; employment trends are still growing in most regions, but at a slower pace than in previous reports. On the price front, consumer prices continued to rise due to solid demand and rising costs, with several regions noticing consumers becoming more price sensitive.
OpenAI will use new method to train models to combat artificial intelligence “illusion”
On Wednesday, Eastern Time, OpenAI released a new research paper showing that the company is using a new method to train artificial intelligence (AI) models to combat artificial intelligence “illusion.” AI hallucinations refers to the ability of AI models to generate content that is not based on any real-world data but is instead a product of the model’s own imagination. There are concerns about the potential problems that such hallucinations may pose, including ethical, social, and practical ones.
EU officials call for extension of food ban on Ukraine Ukraine: Don’t help Russia divide Europe
On Tuesday (May 30), European Commissioner Janusz Wojciechowski, responsible for agricultural affairs, said it was necessary to extend the ban on Ukrainian grain imports until at least the end of October. Ukraine responded on Wednesday that food bans in some EU countries are helping Russia divide Europe and that the restrictions must be lifted.
U.S. FDIC report: U.S. banks’ deposit loss in the first quarter set a record
On Wednesday Eastern Time, the US Federal Deposit Insurance Corporation (FDIC) released a report showing that in the first quarter of this year, US banks lost $472 billion in deposits as a whole. It was the largest drop since the FDIC began collecting quarterly industry data in 1984 and marked the fourth straight quarter of outflows from U.S. banks.
The Indonesian battery industry chain has new news and officially announced that it has received US$9 billion in investment from foreign consortiums
The official website of the Indonesian Presidential Palace announced on May 31 that Indonesian President Widodo convened a meeting of cabinet ministers on the same day to discuss the acceleration of the ecological construction of electric vehicle batteries. The theme of this meeting is exactly the Indonesian local lithium battery industry chain that President Widodo is thinking about. After the meeting, Indonesian Investment Minister Bahlil Lahadalia issued a statement saying that commodity giants Glencore, Umicore SA and other foreign investors will invest US$9 billion in the country to build an electric vehicle battery supply chain. However, the Indonesian Ministry of Investment did not give specific investment details of each company.
The current situation is gratifying and the future can be expected. Wall Street hedge funds talk about “how to use ChatGPT to work”
Throughout 2023 to the present, the rise of generative artificial intelligence has made the capital market see the hope of another “productivity revolution”, driving the U.S. stock market to present a strange scene of “AI rising alone”. Obviously, so far, there has been no “must-use” AIGC application in the financial circle, but smart Wall Street institutions have already found the most suitable job for AI.
Former Bank of England official: The worst period for the British economy is yet to come
Former Bank of England official Michael Saunders says the UK economy is headed for a more painful period as inflation continues to worsen. Since April last year, the inflation situation in the UK has been deteriorating. In October last year, the CPI rose by 11.1% year-on-year, the highest level in 40 years, and then began to fall slightly. In order to control inflation, the Bank of England has raised interest rates 12 times in a row since December 2021, raising the benchmark interest rate to 4.5%. “It usually takes about a year for the peak effect of interest rate changes,” Saunders said. “We haven’t felt much of the impact of a sharp rise in interest rates yet, and the pain will be felt in the coming quarters.”
Where is OpenAI’s European headquarters? “Father of ChatGPT” has a soft spot for this country
Last week, “Father of ChatGPT” Sam Altman concluded his European tour, during which he met with the heads of state of Spain, France, Poland, Germany and the United Kingdom. According to media analysis, one of the goals of his trip was to find a location for OpenAI’s European headquarters. Talking about the location of the new office, Altman told the media, “If you choose according to the number of AI research talents, you will choose France.” But he added that the talent and vitality of every place in Europe left him. impressed.