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BlockBeats News, June 5th, according to Bitget data, the US stock market opened with the Dow up 0.1%, the S&P 500 down 0.6%, and the Nasdaq down 1.2%. Most chip stocks trended down, with Arm down over 5%, Micron Technology down over 4%, Marvell Technology Group (MRVL) down 6%, and Intel down over 5%. As for the CPO concept stocks, NOK fell by 6.38% and LITE fell by 2.79%. Regarding crypto concept stocks, MSTR fell by 4.65%, CRCL fell by 4.59%, and an exchange fell by 4.62%.

On June 5, Hassett, the Director of the National Economic Council at the White House, stated that the Federal Reserve should not raise interest rates, and there is still room for rate cuts in the future.

BlockBeats News, June 5th, Fed's Whisperer Nick Timiraos published a commentary on the latest nonfarm payroll data, suggesting that this spring's hiring spree has regained momentum. This development will provide further justification for Fed officials concerned about inflation, who believe that the current low-interest rates are insufficient to contain the upward pressure on prices. This employment report will not entirely settle the debate on how much the Fed should consider raising interest rates later this year. However, it does reinforce the notion that the reasons for a rate cut in the short term have largely dissipated.