News

Jinse Finance reported that on June 16, international oil prices plunged in the short term. WTI crude oil futures fell by more than 2% to $77.46 per barrel, marking a new low since March 10. Brent crude oil futures also fell by more than 2% to $81.24 per barrel, reaching a new low since March 10.

According to Odaily, when Kevin Walsh was sworn in as the Federal Reserve Chair, Trump told the new chairman to "remain independent," "don't look at me, don't look at anyone else, just do your own job and do it excellently." However, this request is set to be tested soon. After presiding over his first meeting as Federal Reserve Chair, Walsh may have to deliver news to Trump that he won't welcome—despite Trump's repeated calls to lower borrowing costs, the market expects the Federal Reserve to keep rates unchanged at this meeting. Bill Adams, Chief US Economist at Comerica Bank, stated that for the Federal Reserve to cut interest rates, they might need to see a new negative shock in the labor market, whether that's an escalation of conflict in the Middle East or potential downside risks to employment from artificial intelligence becoming reality. If these situations do not occur, it will be difficult for the Federal Reserve to find a reasonable rationale for rate cuts in the current environment. Economists say that steady job growth over the past three months and inflation increases related to the war with Iran have left decision makers with little room to cut rates. In recent weeks, traders have shifted their expectations from rate cuts to the possibility of a rate hike later this year or in early 2027. (Golden Ten Data)

BlockBeats News, June 16, according to Bitget market data, Western Digital rose more than 4% in pre-market trading (previous trading day closed up 16.10%), leading the US stock storage sector: Seagate Technology up 2.57% in pre-market trading; Qualcomm up 2.73% in pre-market trading; SanDisk up 0.39% in pre-market trading; Micron up 0.64% in pre-market trading.