News

On July 3, Nasdaq 100 futures rose over 1%, S&P 500 futures increased by 0.38%, and Dow Jones futures gained 0.2%. (Sina Finance)

This US$29 billion ADR listing will complete settlement on July 14, after which funds are likely to flow into the Korean market. According to the source, the government expects SK hynix to hedge in advance through forward contracts. In a text message, SK hynix stated that the company is "considering various options," but "cannot confirm specific details at this time." (Bloomberg)

BlockBeats News, July 3rd, Citigroup lowered its annual oil price forecast range, pointing to a lower range. It believes that as the transportation through the Strait of Hormuz resumes, the previous disruptions caused by geopolitical conflicts are quickly fading away, and the market will be led by supply and demand fundamentals once again. Citigroup analysts, led by Francesco Martoccia, stated in the report: "With the fading of the Hormuz disruption, fundamentals are rapidly regaining dominance. Shipping traffic is returning to normal, major buyers are still absent from the market, the physical crude market is sharply weakening, and inventory reductions are well below expectations." Based on this assessment, Citigroup expects the Brent crude oil price to potentially fall to around $60 per barrel by the end of the year and advises selling during the summer rebound, with a target range of $60 to $65.