Huang Renxun has left Beijing, and NVIDIA has not disclosed whether Huang Renxun met with the DeepSeek founder.

June 11 Persistent inflation pressures tied to the ongoing Iran conflict pushed U.S. producer prices up at their fastest pace in more than three years in May, new data shows. Released Thursday, U.S. Bureau of Labor Statistics figures put May’s producer price index (PPI) at a 6.5% year-over-year jump—the largest increase since November 2022—with a 1.1% monthly rise. Core PPI, which strips out volatile food and energy costs, climbed 4.9% year-over-year. The data underscore mounting strain from the energy price shock triggered by the closure of the Strait of Hormuz on the U.S. economy. With the Iran conflict showing no sign of a near-term resolution, businesses are passing higher energy and transportation costs to consumers, driving up prices for other goods and services. Pairing this with May consumer price data released earlier this week— which showed the fastest rise in U.S. consumer prices in three years—Thursday’s PPI report could further cement market expectations that the F

June 11 — New reports show SpaceX’s initial public offering (IPO) has garnered over $70 billion in subscription orders from retail investors. The aerospace company will allocate at least 20% of the IPO shares to retail investors, while less than 10% of the offering will be reserved for international order subscribers.

As of June 11, the U.S. Bitcoin Spot ETF has registered a net outflow of $2.1 billion so far this June, nearly matching the full-month outflow of $2.4 billion seen in May. This past Wednesday alone brought a net withdrawal of $214 million, signaling the outflow trend remains persistent. Since May 10, total net assets of the U.S. Bitcoin Spot ETF have tumbled from $109 billion to $77 billion—a roughly $33 billion drop. Over that same window, Bitcoin’s (BTC) price slid from its May 10 peak of $81,443 to a low of $59,353, a roughly 27% decline. Adam Haeems, Head of Asset Management at Tesseract Group, noted that while the ETF still faces consistent outflows, the pace of withdrawals has “slowed markedly,” with selling pressure appearing exhausted rather than growing. He attributes the outflows to three core drivers: leveraged funds redeeming spot ETFs to unwind futures arbitrage positions, capital shifting away from the highest-fee funds in U.S. spot products, and money rotating into

June 11. An official announcement from Bitget confirms the platform has launched 90 stock spot trading products, including rTokens for major names like Morgan Stanley (rMS), Nike (rNKE), Pfizer (rPFE), ExxonMobil (rXOM), and Occidental Petroleum (rOXY). The new offerings cover sectors spanning energy, healthcare, financial services, and technology and communications. Per reports, these rTokens—formatted as an "r-" prefix plus the stock’s ticker symbol (e.g., rNVDA for Nvidia)—are issued by Reality, a licensed real-world asset (RWA) protocol under Bitget. They are directly linked to global liquidity pools such as the Nasdaq and NYSE through a partnership with Alpaca, a regulated broker. Key features of the rTokens include: a 1:1 reserve of the underlying stock held by a licensed custodian; stock dividends paid out as tokens at a 1:1 ratio; support for corporate actions like stock splits; and eligibility to serve as collateral for cross-margin trading and U-based contracts. This functio

June 11: The European Central Bank (ECB) raised interest rates for the first time in nearly three years, becoming the first major developed-world central bank to act on inflation spurred by tensions related to the Iran war. The central bank lifted its benchmark main rate from 2% to 2.25%—a move widely expected by markets—while highlighting headwinds facing major economies from the prolonged closure of the Hormuz Strait, which has pushed energy prices sharply higher. Investors broadly anticipate the ECB will hike rates at least once more this year. This policy shift also makes the ECB the first major central bank to tighten monetary policy directly in response to surging energy costs, which have pushed eurozone inflation above 3%. Turning to other key central banks: The Federal Reserve is projected to keep interest rates unchanged next week, with Chair Jerome Powell caught between Trump’s calls for low rates and mounting inflation pressure. The Bank of England is also expected to hold

June 11 — According to foreign media reports, the European Central Bank (ECB) raised interest rates by 25 basis points on Thursday, a move that could signal the Federal Reserve and other central banks will follow suit to combat ongoing inflationary pressures. The ECB hasn’t hiked rates since September 2023, but the Eurozone’s May inflation rate jumped to 3.2% amid the war in Iran, forcing the central bank to act on rising price pressures. Citigroup analyst Arnaud Mares noted the real focus of this week’s meeting was how ECB communications would reveal future policy directions. He anticipates the ECB will raise rates again at its July policy meeting. The ECB’s rate decision may offer insight into the U.S. market’s trajectory, with markets pricing in a 66% probability the Federal Reserve will implement at least one rate hike before the end of this year. (FXStreet)