According to Bitget market data, after the US stock market opened, Wendy's (WEN) surged over 40% to trade at $8.78. The stock had fallen more than 73% over the past five years prior to this rally. Earlier reports noted that Serenity tweeted mocking the latest meme stock movement unfolding on Reddit's high-risk trading communities, targeting US fast-food chain Wendy's. The Reddit high-risk trading community posted a meme: "If Wendy's goes bankrupt, we'll all be out of jobs, and after losing all our trading money, we'll have to work behind Wendy's trash cans." Serenity later clarified that they held no positions, just found the activity amusing, and added that they did not know if the campaign would succeed. Wendy's holds a special cultural status on Reddit's WallStreetBets community; for years, "working behind Wendy's trash cans" has been a running joke among retail investors to mock their trading losses.

According to Bitget market data, U.S. stocks opened with the Dow Jones up 0.04%, the S&P 500 rising 0.43%, and the Nasdaq advancing 0.58%. Broadcom (AVGO) gained 1.6% after the company announced an AI chip co-developed with OpenAI, designed to run models faster and more cost-effectively. Micron Technology (MU) rose 1.8% ahead of its upcoming third-quarter earnings report, while SpaceX (SPCX) dropped 0.6%.

According to Bitget data, WTI crude oil fell 4.00% intraday, currently trading at $70.66 per barrel; Brent crude oil fell 4.00% intraday, now at $73.66 per barrel.

Oil prices have fallen to their lowest level since the conflict began, driven by the resumption of shipping in the Strait of Hormuz. Under the U.S.-Iran agreement, more vessels have resumed transiting the Strait of Hormuz, easing market concerns over disruptions to crude oil shipments. Trump stated that Iran has not imposed any tolls or other fees on vessels using the route. Additionally, rising supply, weakening demand, and a stronger U.S. dollar have also put pressure on crude oil prices. However, related supply risks persist.

The White House said U.S. President Donald Trump will hold a press conference in Washington, D.C. on Friday. (Jinshi)

Against the backdrop of ongoing US-Iran peace talks and a 3% fall in crude oil futures, US Treasury yields have declined. A Wall Street Journal survey shows that US May new home sales, set to be released at 10:00 AM ET (22:00 Beijing time), are projected to rise 1.6% after a 6.2% contraction in April. Despite a stronger US dollar, yields still dropped. Marc Chandler, an analyst at Bannockburn, said currency movements were impacted by short covering in the US dollar, while yields were driven by the resilience of the US economy. (Golden Ten)